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FinTech firm Kani Payments secures Series A funding to drive global expansion
Kani Payments, a FinTech firm specialising in payment reconciliation and reporting, has secured a multi-million-pound Series A investment to enhance its platform and expand globally.
The funding round was led by Maven Capital Partners, one of the UK’s leading private equity firms. It also included investment from the Maven VCTs and NPIF II – Maven Equity Finance, which is managed as part of the Northern Powerhouse Investment Fund II (NPIF II). FT Partners acted as the exclusive strategic and financial advisor to Kani.
Kani provides an automated reconciliation platform designed to simplify financial reporting for payment companies and financial institutions. With global payment volumes increasing and regulatory demands intensifying, the platform helps firms streamline complex reconciliation processes, reduce costs, and mitigate compliance risks. To date, Kani has reconciled over €24bn in processed payments across five continents.
The fresh investment will accelerate the development of Kani’s technology, expand its team, and facilitate entry into new international markets, particularly in the US.
Kani Payments CEO Aaron Holmes said, “This investment marks a pivotal moment in Kani’s evolution as we expand our automated reconciliation platform to meet surging global demand. Maven’s backing will accelerate our platform development and global expansion, particularly as we see increasing opportunities in markets where regulatory compliance and payment reconciliation complexity continue to grow.”
Maven Capital Partners investment manager Rebecca MacDermid said, “Kani has developed an innovative, award-winning platform that is addressing a critical challenge in the fast-evolving payments industry. The company’s proprietary technology, coupled with the team’s deep sector expertise, has helped the business achieve year-on-year growth, with annual recurring revenues sharply increasing in the last year, driven by a 70% increase in clients. With the increasing complexity of payment reconciliation and regulatory compliance, demand for Kani’s solution is set to grow further.”
Gomboc AI raises $13m to revolutionise cloud security with deterministic AI
Gomboc AI, a cybersecurity startup focused on cloud security remediations, has raised $13m in seed funding to accelerate its efforts in automating security fixes.
The round included an $8m investment led by Ballistic Ventures, with continued backing from Glilot Capital Partners and Hetz Ventures, which had co-led the company’s initial $5m seed funding.
The company was founded to address the mounting security backlog that hampers business transformation. Its platform, developed by co-founder and CEO Ian Amit, aims to eliminate inefficiencies in cloud security management by automating the remediation of security vulnerabilities. Amit, a former chief information security officer (CISO), was driven by the overwhelming number of security tickets and vulnerability reports he encountered while overseeing security for 15 businesses under a single corporate entity.
Gomboc AI’s platform differentiates itself by using a deterministic AI engine rather than generative AI or static templates. The technology integrates with cloud infrastructure via Infrastructure as Code (IaC), enabling accurate, repeatable, and context-aware code fixes while maintaining functionality. The solution helps security and DevOps teams reduce the Mean Time to Remediate (MTTR) from months to minutes, significantly cutting down on security backlogs.
Ballistic Ventures co-founder and general partner Roger Thornton said, “Gomboc AI is solving a massive, universal problem that organizations face: transforming the overwhelming security-ticket backlog into an automated, policy-driven remediation process. This company is a game-changer for how security and DevSecOps teams can work together more efficiently and effectively.
“We’re thrilled to have Gomboc AI’s talented team join the portfolio and look forward to their visionary approach changing the way organizations manage cloud security.”
Hetz Ventures general partner Pavel Livshiz said, “The cybersecurity market is at an inflection point threats are evolving faster than companies can hire and train security engineers.
“Gomboc AI is uniquely positioned to solve this bottleneck with AI-driven remediation, turning security from a constant fire drill into a seamless, automated process. This funding reflects their rapid progress, strong market traction, and an outstanding team. We’re excited to double down.”
Momnt and Your Virtual Adjuster partner to enhance roofing contractor financing and claims management
Momnt, a leading FinTech company specialising in real-time lending and payment solutions, has announced a partnership with Your Virtual Adjuster, an innovative claims management platform designed for roofers.
The collaboration aims to provide roofing contractors with a seamless solution for handling insurance claims while offering flexible financing options to homeowners, according to FF News.
The partnership seeks to tackle a significant challenge faced by roofing contractors—reaching a broader customer base through a combined insurance claims and financing solution.
Rising costs of materials and labour mean homeowners often bear high out-of-pocket expenses after their insurance claims are settled.
By integrating insurance claims management with financing options, the partnership allows roofers to offer a more attractive service, ultimately boosting their competitiveness.
Momnt provides real-time lending and payment solutions that enable businesses to offer point-of-need financing to their customers. By integrating lending services into various industries, the company helps businesses enhance their sales and customer experience.
Your Virtual Adjuster is a claims management platform tailored for roofing contractors, streamlining the insurance claims process and helping roofers secure approvals more efficiently. The company’s technology simplifies complex insurance procedures, ensuring smoother and quicker settlements for contractors and homeowners alike.
With this collaboration, roofers can improve deal closure rates, expand their client base, and enhance customer satisfaction by providing a full-service solution that includes both claims management and financing. This integration ensures homeowners can manage unexpected roof repairs without financial strain.
Momnt’s technology integrates seamlessly with Your Virtual Adjuster’s platform, allowing homeowners to access various financing options tailored to their needs. Roofers can now offer flexible payment solutions that include financing deductibles, making roof repairs more affordable and accessible.
“We’re empowering roofers to win more jobs and provide a complete solution to their customers,” Momnt vice president of partnerships Adam Goodman said. “By combining our financing options with Your Virtual Adjuster’s expertise in insurance claims, we’re enabling homeowners to get their roofs repaired quickly and affordably, even when faced with unexpected costs.”
“With this collaboration, homeowners can avoid the disruption and financial strain associated with unexpected roof damage,” Vince said. “They can now quickly get their roofs repaired, choose from a range of financing options to cover the out-of-pocket costs, and even finance their deductibles, making the entire process more manageable.”
Clearcover unveils insurance exchange to boost non-standard auto insurance market
Clearcover, a next-generation auto insurer known for its digital-first approach, has launched a reciprocal insurance exchange designed to strengthen its position in the non-standard auto insurance market.
The product, known as Clearcover Inter-Insurance Exchange (CIX), aligns with Clearcover’s broader strategy to improve profitability, fuel growth, and enhance accessibility within auto insurance, according to InsurTech Insights.
With a focus on serving more diverse customer segments, the company is also expanding into Texas through Clearcover General Agency (CGA), aiming to provide innovative and flexible insurance solutions.
Clearcover specialises in leveraging artificial intelligence and digital automation to streamline the auto insurance process.
By minimising operational inefficiencies, the company delivers cost-effective and customer-friendly insurance policies tailored to modern drivers.
The newly launched CIX is designed to offer expanded coverage to drivers who are often underserved by traditional insurers.
This includes individuals with foreign licenses, those with limited driving experience, or drivers with inconsistent insurance histories. The exchange also features competitive commission structures for agents, incentivising them to connect more drivers to affordable insurance options.
A key component of CIX is its AI-powered technology, which enhances self-service capabilities for customers while improving workflow efficiencies for agents. This ensures a seamless insurance experience that prioritises convenience and affordability.
As a reciprocal exchange, CIX operates on a subscriber-based model, meaning policyholders collectively own a stake in the exchange. This structure helps reduce operational costs, keeping premiums competitive and promoting long-term financial stability for members.
By launching CIX alongside CGA, Clearcover is diversifying its market reach while reinforcing its commitment to innovative, customer-centric insurance solutions. The company aims to continuously adapt to the evolving landscape of auto insurance, ensuring greater accessibility and efficiency.
“Launching CIX marks a turning point as we continue to redefine auto insurance,” Clearcover CEO and Co-founder Kyle Nakatsuji said. “By broadening our market focus and harnessing our tech-driven platform, we’re empowering more customers and agents while delivering unmatched efficiency and competitive pricing.”
Tabby lands $160m funding to accelerate financial services growth in MENA
Tabby, a leading financial services and shopping app in the MENA region, has secured $160m in a Series E funding round, pushing its valuation to $3.3bn.
The round was led by existing investors Blue Pool Capital and Hassana Investment Company, with additional backing from STV and Wellington Management.
Tabby has seen rapid growth since its last funding round in October 2023, nearly doubling its annualised transaction volume to over $10bn. It recently acquired Tweeq, a Saudi-based digital wallet provider, further expanding its suite of financial services. Alongside its core buy now, pay later (BNPL) offerings, Tabby has introduced several new products, including the Tabby Card for flexible payments, a subscription-based service called Tabby Plus, and Tabby Care, a buyer protection programme.
With the fresh capital, Tabby plans to accelerate the expansion of its financial services, including digital spending accounts, payments, cards, and money management tools. The company is also aligning with Saudi Arabia’s Vision 2030 initiative, contributing to the country’s transition towards a cashless economy. The funding also strengthens Tabby’s position as it prepares for an IPO, marking a significant step in its long-term growth strategy.
Hosam Arab, CEO and co-founder of Tabby, said, “This investment allows us to accelerate our rollout of products that make managing money simpler and more rewarding for our customers. We’re focused on creating tangible impact helping people take control of their finances with tools that are accessible, effortless and built for their everyday lives.”
Christopher Wu, chief investment officer at Blue Pool Capital, said, “Tabby’s ability to innovate and deliver exceptional products is truly impressive. Their strong revenue growth and operational efficiency sets them apart from other fintech companies globally. We are incredibly excited to support the team on their mission.”
Ahmed Al Qahtani, chief investment officer for regional markets at Hassana Investment Company, said, “We are consistently impressed with Tabby’s remarkable ability to execute and build significant momentum in such a short time. Their unwavering dedication to delivering innovative products and solutions to customers reinforces our strong belief in Tabby’s bright future. We are excited to continue our partnership as they redefine the financial services landscape in the region.”
Zeta raises $50m as valuation surges to $2bn in strategic funding
Zeta, a next-generation banking technology provider serving financial institutions worldwide, has secured a $50m strategic investment.
The latest funding values the company at $2bn, marking a 1.7x increase from its previous $1.15bn pre-money valuation.
The funding was contributed by a strategic investor, though their identity has not been disclosed. This follows Zeta’s previous $250m raise in 2021, which was led by SoftBank Vision Fund 2 along with other key investors.
Zeta specialises in providing cloud-native banking solutions, enabling financial institutions to launch and manage digital financial products efficiently. Its SaaS offerings cater to banks and FinTech firms, supporting products such as credit cards, checking and savings accounts, unsecured loans, and commercial banking solutions. The platform is built on a microservices-based, API-first, and headless (MACH) architecture.
Zeta’s Global CEO and co-founder, Bhavin Turakhia, highlighted the company’s rapid growth, stating, “We are incredibly excited at the pace at which clients are embracing our modern stack.
“Over the past few years, we have supported over 25 million accounts on our cloud-native processing platform Tachyon and are on track to add 25 million more with contracts already in flight. Our clients are breaking away from decades of legacy systems to deliver amazing digital experiences thereby increasing their customer satisfaction and accelerating new user acquisition.”
Co-founder Ramki Gaddipati added, “Zeta’s mission to be a trusted partner to financial institutions is possible through the patient efforts of the best team ever assembled in banking technology. While the past few years have been challenging for the banking-tech industry, our organization has delivered multiple winning programs for our clients in record times.”
Zeta’s platform is used by some of the world’s largest financial institutions, including HDFC Bank, India’s leading private bank, where it has launched the Pixel digital-native credit card program. Other key partners include Pluxee, a global corporate benefits provider, and Sparrow Financial, a US-based card issuer focused on non-prime cardholders.
BIS guides central banks on balancing AI innovation with risk management
In its latest report, the BIS addresses the burgeoning role of AI in central banking, underscoring the critical balance between promoting innovation and managing associated risks.
The report outlines key strategies for central banks to safely incorporate AI technologies within their operational frameworks, according to ABA Banking Journal.
Central to BIS’s guidance is the establishment of an interdisciplinary AI committee aimed at overseeing AI integration and ensuring compliance with established ethical standards. Additionally, the report encourages the adoption of responsible AI principles and stresses the importance of conducting thorough risk assessments to identify potential vulnerabilities introduced by AI tools.
A significant part of the report highlights the need for revising current governance and risk management frameworks to accommodate AI’s unique challenges. “The safe and proper usage of AI across the central bank functions may demand changes to existing risk management and governance frameworks,” the BIS report notes. This statement emphasizes the importance of updating traditional models to ensure that AI technologies are implemented effectively and safely, mitigating risks while enhancing efficiency and decision-making processes within central banks.
In response to these recommendations, the BIS suggests that central banks take a proactive approach by reviewing and adapting their governance structures to better align with the evolving technological landscape. This strategic shift will not only safeguard the integrity of financial systems but also leverage AI’s potential to improve service delivery and policy implementation.
Semgrep bags $100m in Series D to elevate AI-driven code security
Semgrep, an application security platform, has successfully secured a substantial $100m in its Series D funding round.
The round was spearheaded by Menlo Ventures, with significant contributions from existing stakeholders including Felicis Ventures, Harpoon Ventures, Lightspeed Venture Partners, Redpoint Ventures, and Sequoia Capital. This latest injection of capital brings the total funds raised by the company to $204m.
Founded with the mission to revolutionize code security, Semgrep offers a robust AppSec Platform designed to meet the modern challenges of securing complex codebases without hindering the speed of development cycles. The platform distinguishes itself through a high signal-to-noise ratio, prioritizing impactful security measures while maintaining developer productivity and a positive security perception.
The newly acquired funds are earmarked for several strategic initiatives. Semgrep plans to attract top-tier AI and program analysis talent to further enhance its technological lead. Additionally, the investment will be used to broaden the reach of its product offerings beyond the traditional security audience and bolster its Go-To-Market team with industry experts from notable organizations such as Hashicorp and Elasticsearch.
Further enriching Semgrep’s strategic direction, the company has welcomed new expertise into its ranks. Recently, Garrett Souza, former SVP Americas at Matillion and Enterprise Sales Leader at Snyk, has been appointed as Vice President of Sales. Additionally, Mark McLaughlin, ex-CEO of Palo Alto Networks, has joined as an Angel Investor and Advisor, underscoring the industry’s confidence in Semgrep’s trajectory.
“AI is having a profound impact on all areas of technology. Semgrep’s approach to autonomous code security is a perfect example and represents the future of application security,” Matt Murphy, Partner at Menlo Ventures and new Board Member of Semgrep, expressed his enthusiasm for the company’s direction.
Previously, the company had announced its Series C funding in April 2023, which had already set the stage for its current expansive growth phase. The continuing investment trend in Semgrep highlights its potential and commitment to leading the charge in AI-powered code security.
Clarity AI launches new sustainability tool for European fund managers
Clarity AI has announced the launch of a new solution targeted at fund managers, portfolio managers, and ESG analysts.
According to Finextra, this innovative tool is designed to simplify the complex landscape of sustainable investment fund regulations and labels in Europe, which are increasingly shaped by stringent regulatory demands and the need to combat greenwashing.
The drive behind this new product stems from the evolving regulatory environment, such as the UK’s FCA Sustainability Disclosure Requirements (SDR) and various government or industry-led labels like France’s SRI and Germany’s FNG. These frameworks aim to enhance transparency and reduce the risk of greenwashing in sustainable investments.
What Clarity AI does is crucial in a market where sustainability is paramount. The company specializes in providing technology solutions that help fund managers navigate and comply with diverse ESG metrics and frameworks unique to each market.
The product itself brings all necessary compliance information into one user-friendly platform, helping users monitor their funds against complex metrics and quickly identify any areas of non-compliance. This allows for more efficient investment decisions and better compliance management.
Additional features of Clarity AI’s solution include adaptive technology that updates in line with market changes and new regulations. This is particularly relevant given recent guidelines from the European Securities and Markets Authority (ESMA) that require funds with ESG-related terms in their names to invest at least 80% of their assets sustainably.
Further developments announced include support for new sustainability labels such as the French SRI label and the Belgian Towards Sustainability label, along with screening for the Paris-Aligned Benchmark (PAB) and Climate Transition Benchmark (CTB) exclusions under ESMA Naming Rules.
“The goal is to reduce the amount of time fund managers spend on identifying potential investments that fall short of the standards, and understanding the cause for non-compliance, in order to decide on the best course of action,” Henry Waind, product lead at Clarity AI, said.
“Sustainability regulations and labels are proliferating, making it increasingly challenging for fund managers to keep up,” added Tom Willman, regulatory lead at Clarity AI. “A significant amount of resources is tied up in regulatory obligations. These could be better used to develop sustainable solutions that support end-investors’ sustainability goals, and technology is key to making this process more efficient.”
Cashfree Payments secures $53m in strategic funding
According to IBS Intelligence, this financial boost was spearheaded by KRAFTON, a Korean digital entertainment leader, alongside continued backing from existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group (UK) Limited (Apis Partners).
The newly acquired funds are set to enhance Cashfree’s payment solutions and expand its market presence. This partnership is expected to harness synergies with KRAFTON, propelling Cashfree to innovate and pioneer across various digital sectors.
Cashfree Payments specializes in offering a broad spectrum of digital payment solutions aimed at empowering Indian businesses. The company provides secure and efficient transaction options across the digital economy, addressing the needs of businesses of all sizes.
The investment will be utilized to accelerate initiatives in cross-border transactions, security innovations, and international growth. Cashfree aims to focus on sustainable and profitable expansion as it scales up its operations and explores new avenues in the digital payments landscape.
Cashfree has also introduced Secure ID, an advanced identity verification system. This new feature includes a robust suite of APIs and KYC components designed to combat the rising tide of fraud. Secure ID streamlines the onboarding and KYC processes by minimizing user input requirements, intelligently verifying identity documents, and effectively detecting anomalies and fraudulent activities.
Cashfree Payments CEO & Co-Founder, Akash Sinha, commented on the funding, stating, “We are excited to welcome KRAFTON as a strategic partner with continued support from our existing investors, Apis Growth Fund II and the team at Apis Partners. Our mission at Cashfree Payments has been to empower Indian businesses with the ability to transact in the digital economy with unparalleled security and efficiency. This investment will help us accelerate our key efforts across cross-border and security innovations and international expansion as we enter the next phase of our growth journey. Growing sustainably has been core to our identity and how we function at Cashfree Payments. We are focused on driving profitable growth as we scale.”
Sean Hyunil Sohn, CEO of KRAFTON India, also shared his enthusiasm about the partnership, “India’s FinTech industry is experiencing remarkable growth, and we believe Cashfree Payment’s dominant position in India can be replicated globally. As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the needs and requirements of the sector are crucial for enhancing user experience. The investment is part of KRAFTON’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem. We look forward to further strengthening this partnership and exploring future opportunities.”
FinTech firm Pipe expands developer tools to enhance embedded capital integration
Pipe, a FinTech company specialising in embedded financial solutions for small and medium-sized businesses (SMBs), has announced a major expansion of its Pipe Partner Portal, introducing new developer tools aimed at simplifying integration.
The enhancements are designed to make it easier for developers to embed Pipe’s capital services within payment and software platforms. Unlike traditional embedded finance solutions, Pipe’s approach prioritises a “tech-first” model, ensuring seamless integration for partners while accelerating capital delivery to SMBs.
Pipe’s infrastructure enables payment processors and vertical software firms to offer capital solutions without the need to build complex in-house systems. Through its software development kits (SDKs) and APIs, partners can incorporate Pipe’s capital services into their ecosystems, enhancing the merchant experience and unlocking new revenue streams. Businesses accessing capital through Pipe can bypass traditional financing challenges by leveraging their secure transaction data from partner platforms.
The new developer capabilities allow for multiple integration pathways, including a Pipe-hosted option, which can be launched in as little as a week, an Embedded UI that takes one to two weeks, and a Full API integration that provides complete control over the user journey within four weeks.
A key part of the update is the enhanced Pipe Partner Portal, which offers a dashboard and resource centre where partners can track merchant activity, revenue share, and manage embedded relationships.
Deepak Colluru, director of product management at GoCardless, praised the ease of working with Pipe’s technology. “Integrating with Pipe’s Embedded UI was an incredibly smooth process. The Partner Portal’s self-serviceability and comprehensive documentation allowed us to move quickly, while Pipe’s responsive tech team was always there to offer valuable guidance when needed.
“It was clear that the Pipe team was invested in our success, going above and beyond to ensure we had everything we needed. The experience was great from start to finish.”
The new features prioritise key technical enhancements, including real-time feedback through webhooks, increased security with advanced API key management, and a robust sandbox for testing various integration use cases.
Pipe’s chief technology officer, Nate Wiger, emphasised the company’s commitment to developer engagement. “As a software company committed to using technology to improve financial access, we know how important it is to work closely with the developer community.
“Engineering teams are the ones implementing our solutions to put them into the hands of SMBs. By expanding our Partner Portal with a growing set of developer tools and resources, we aim to make it even easier for our partners’ technical teams to embed Pipe solutions, from the initial implementation stage all the way to ongoing post-launch support.”
Yapily to Power Adyen’s Merchant Services Across Europe With Open Banking Technology
Yapily one of Europe’s leading open banking infrastructure platforms – has been selected by Adyen, the global financial technology platform of choice for leading businesses, to strengthen its Open Banking offering. Adyen will use Yapily’s leading data features to streamline onboarding and strengthen account verification, giving even more merchants across Europe a faster, more seamless, highly secure experience.
As the global financial technology partner for leading companies like eBay, Uber, and Just Eat, Adyen helps businesses achieve success faster through end-to-end payments, data-driven insights, and financial products all in a single solution. Its decision to add Yapily to its open banking offering for business account information is a testament to the data quality and industry-leading coverage Yapily’s platform provides. It also marks the beginning of a relationship in which Yapily and Adyen will continue to explore additional open banking-driven services, including creditworthiness assessments for loan decisions and beyond.`
Adyen will go live with Yapily’s Data products in various European regions which will be embedded into Adyen’s Open Banking product, and offered via a standalone solution.
Stefano Vaccino, CEO and founder of Yapily said: “Adyen is one of the leading financial technology companies in the world, and their decision to integrate our platform is a testament to the quality and extensive coverage of our API. We’re excited to be helping Adyen deliver solutions that reduce financial friction and improve the customer experience for businesses. Merchant onboarding and account verification are just the tip of the iceberg, and as this relationship grows, we look forward to enabling Adyen to develop more impactful and innovative solutions built on our open banking infrastructure.”
Blanca Ferrero, Global Head Open Banking & Settlement at Adyen said: “Open Banking serves as a strategic enhancement to our core value proposition, empowering us to develop scalable and innovative use cases across shoppers, businesses, payments, and data. To meet the diverse needs of our merchant base, establishing a global reach for Open Banking services is of paramount importance. Yapily represents a valuable addition to our Open Banking portfolio, distinguished by their flexibility and expertise in business account connectivity. Together, we are optimally positioned to drive substantial progress within the Open Banking ecosystem.”
Swan raises €42m to accelerate embedded banking adoption across Europe
Swan, a company specialising in embedded banking, has raised €42m in a Series B funding round.
The funding will support Swan’s mission to make embedded banking the standard across Europe. The company believes the industry is undergoing a major transformation, where financial services are becoming a key part of everyday business tools rather than standalone applications.
Swan offers a banking platform designed to simplify the process of embedding financial services. By developing its own core banking infrastructure, the company ensures full control over its technology, allowing it to deliver advanced, localised solutions for businesses across Europe. It also takes on regulatory responsibilities, including compliance, KYC, and fraud prevention, so its partners can focus on growing their businesses.
The new investment will be used to expand Swan’s market presence, with planned launches in Belgium and the UK. The company is also working on tailored solutions for SMEs, including custom card programs for benefits, meal vouchers, travel, and expense management. Additionally, the funds will help Swan grow its team, with plans to hire over 80 new employees across Europe.
Since its initial Series B announcement in September 2023, Swan has expanded into the Netherlands and Italy, providing local IBANs and payment solutions tailored to these markets. The company has also seen significant growth, with monthly revenue and transaction volumes increasing by 250%, and card issuance rising by 370%.
Swan founder and CEO Nicolas Benady said, “In the future, I believe business management software will become a key distributor of banking services. Whether it’s for HR or Accounting, these tools will offer banking features seamlessly integrated into the user’s workflow. This means you’ll have access to banking services right when you need them, directly in the tool you’re using. We call this embedded banking. At Swan, we’re working hard to provide both the technology and compliance framework to make this a reality for SMEs across Europe.”
InsurTech firm The Helper Bees lands $35m to enhance at-home care solutions
The Helper Bees, an InsurTech company focused on enabling older adults to live independently at home, has secured $35m in Series C funding.
The investment round was led by Centana Growth Partners, with participation from existing investors including Silverton Partners, Impact Engine, Northwestern Mutual Future Ventures, and Alumni Ventures.
The company provides a platform that connects older adults with a wide range of non-medical products and services to support independent living. Its credentialed network allows payers to seamlessly offer home-based services such as caregiving, meal delivery, housekeeping, pest control, and transportation. By leveraging technology, The Helper Bees aims to improve access to essential services that enhance quality of life for aging populations.
The Helper Bees CEO Char Hu said, “This funding round represents a pivotal milestone for The Helper Bees and the aging-in-place movement.
“Every day, we hear stories from families who can sleep a little easier knowing their loved ones have access to the care, services, and independence they deserve. This partnership with Centana enables us to broaden our reach and continue empowering older adults to live independently and safely at home.”
Centana Growth Partners partner Eric Byunn highlighted the importance of the platform’s adaptability, stating, “The Helper Bees’ tech-forward platform is streamlining the delivery of independent aging solutions at a time when they are in increasing demand, and the company’s continued expansion into new areas such as payments, exemplified by the launch of their flexible spending card, showcases their adaptability and commitment to addressing evolving market demands.
“We look forward to partnering with a team whose mission aligns with our commitment to scaling innovative technologies that solve real and complex challenges.”
SoftBank to invest $500M in robotics startup SkildAI
SoftBank is negotiating a $500 million investment in Skild AI, a software company building a foundational model for robotics at a $4 billion valuation, Bloomberg and Financial Times reported.
The two-year-old company raised its previous funding round of $300 million at a $1.5 billion valuation last July from investors including Jeff Bezos, Lightspeed Venture Partners, and Coatue Management.
The company’s AI model can be applied to various types of robots, Skild founders Deepak Pathak and Abhinav Gupta told TechCrunch last July. They said the generalized model can be modified for a specific domain and use case.
The intersection of robotics and AI has witnessed substantial investor interest.
Over the recent year, investors, particularly Bezos, have increased their funding to AI-powered robotics companies.
Physical Intelligence, a startup that raised $400 million at a $2 billion pre-money valuation in November, is another startup claiming to be developing “brains” for a broad range of robots. Jeff Bezos, Lux Capital, and Thrive Capital led that round.
Last February, Figure AI, a startup building an AI-powered humanoid robot, raised $675 million at a $2.6 billion valuation from Microsoft, OpenAI Startup Fund, Nvidia, Amazon Industrial Innovation Fund, and Jeff Bezos (through Bezos Expeditions).
Qantev and InsureMO announce partnership to revolutionise global insurance services
Qantev, a leading AI claims platform, has partnered with InsureMO to enhance the efficiency of global insurance services.
The collaboration integrates Qantev’s AI-driven solutions with InsureMO’s platform to optimise data transfer and streamline operations across the insurance ecosystem.
This move is aimed at optimising the insurance process by enhancing the seamless transfer of data and documents between insurers, agents, brokers, care providers, and other stakeholders in the ecosystem.
By leveraging AI-powered solutions in combination with a robust insurance platform, this collaboration aims to bring greater efficiency and effectiveness to the insurance industry globally.
Tarik Dadi, CEO of Qantev lauded the move, stating, “The synergy between Qantev and InsureMO is a new era for the insurance industry. By combining our Claims AI expertise with InsureMO’s insurance platform, we are setting a new standard for what is possible when it comes to transforming insurance operations and customer service. This partnership is a step forward in our mission to enhance the performance of health and life insurers around the globe using cutting edge AI.”
Qantev is known for its state-of-the-art AI solutions that combine deep medical expertise with cutting-edge data science.
The company has been instrumental in transforming health and life insurance by improving claims management processes, from data acquisition to adjudication.
Its solutions also help insurers identify fraud, waste, and abuse, which aids in reducing losses while improving customer satisfaction.
As part of the partnership, Qantev’s AI solutions will integrate with InsureMO’s platform, enabling rapid connectivity between various stakeholders in the insurance value chain.
This collaboration will leverage InsureMO’s infrastructure to provide insurers with valuable data insights and operational efficiencies, while Qantev’s AI technology will optimise claims processes and help insurers better manage customer interactions.
Woody MO, CEO from InsureMO, added, “This partnership with Qantev aligns perfectly with our vision of simplifying insurance for everyone involved. Qantev’s innovative AI solutions, integrated with our InsureMO platform, will accelerate the digital transformation of the insurance industry, making insurance more accessible, efficient, and transparent for our global clientele.”