Wisedocs, an innovative leader in the InsurTech sector, recently received a significant financial boost. CIBC Innovation Banking has extended $4.5m CAD in growth capital financing. This move is designed to support Wisedocs in broadening its client base and enhancing its product offerings. The company, renowned for its artificial intelligence (AI) software platform, offers streamlined solutions
The program, known as the SentinelOne Risk Assurance Initiative, aims to offer insurers the SentinelOne Singularity™ Platform at preferred rates, enabling them to stop attacks before they occur and reduce both financial losses and insurance premiums. The move has been driven by the growing need for insurers to provide robust cybersecurity solutions to their clients.
The investment was spearheaded by Information Venture Partners, a prominent early-stage B2B FinTech investment firm. They were joined by Thomson Reuters Ventures and ManchesterStory, marking a significant vote of confidence in Wisedocs’ future. At its core, Wisedocs specialises in the development and provision of machine learning software-as-a-service (SaaS) aimed at medical record review, indexing, and
Utilising Insurity’s analytics solutions grants carriers an enhanced level of reliable insights into their portfolios, facilitating heightened segmentation and improved loss ratios. The flagship offering of the solution, known as Insurity Predict, harnesses the power of AI to elevate predictive analytics and modelling capabilities, delivering a substantial enhancement in loss ratios and instilling credibility in
TerraPay, a leading global payments infrastructure company, today announced that it has secured authorization as an Electronic Money Institution (EMI) in Italy. Having obtained approval from the Bank of Italy, TerraPay is set to expand its operations within the country and subsequently, throughout the European Union. Under Article 114-quinquies Consolidated Banking Act (TUB), the Bank
Moove, a mobile FinTech, has received $76 million in new funding, including $28 million in equity from new and existing investors. Funding round led by Mubadala Investment Company (Mubadala), $10 million in venture capital debt from funds and accounts managed by BlackRock, and $38 million in undisclosed amounts previously raised in the last few years
Nuvei Corporation, a Canadian FinTech company, has been selected by 888, the global operator of iGaming, to build local card and payment method acquisition capabilities. 888 leverages Nuvei’s technology platform, broad accessibility, instant interbank payments and in-depth knowledge of the curated iGaming market to maximize payment acceptance and maximize payments. Optimize risk management. In addition
HSBC and B2B FinTech Tradeshift have formed a new joint venture focused on developing integrated financial solutions and financial services applications. As part of the deal, HSBC will invest $35 million in Tradeshift in two phases and join its board of directors. The deal is part of a funding round that is expected to raise
TerraPay, a global payments infrastructure company, has partnered with Safaricom, a financial services, IT and telecommunications provider based in Kenya. TerraPay Group company Mobex (Kenya), a remittance service provider, will enable over 30 million M-PESA mobile wallet owners in Kenya to send real-time payments through TerraPay’s interoperable network to all wallets in Bangladesh and Pakistan,
Canadian FinTech Nuvei and Plaid have extended their global partnership to support businesses by accepting bank-based payments for multiple use cases, including recurring payments and payouts, and to serve additional verticals within the e-commerce landscape. Nuvei and Plaid plan to scale their partnership globally before the end of the year. Nuvei’s global reach, including local acquiring in 47 markets,
FIS, a global financial services technology company, has announced that it has entered into an agreement to sell a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR in a transaction that valued Worldpay at $18.5 billion. The agreement will allow for more centralized management and simplified operations for
TransUnion and NatWest Group have expanded their existing partnership to introduce Know Your Credit – a retail banking credit reporting service to all eligible UK consumers. The new service builds on the bank’s existing engine, which has seen over five million NatWest and Royal Bank of Scotland customers access their TransUnion credit scores through the
