Fintech
This Week in Fintech: TFT’s bi-weekly news roundup 05/28
Welcome to The times of fintech Bi-weekly news roundup Tuesday 28 May 2024, with the latest updates from around the world.
Appointments
Daily payment, a worktech company, he named Stacy Greiner as interim CEO. Greiner currently serves as Chief Operating Officer, where he successfully oversees the company’s four business lines, client teams, marketing and all business operations and payments operations. She takes over Kevin Cooper, who is named the new CEO of Definitive Healthcare, a healthcare business intelligence company.
Paymentologythe issuer-responsible for global processing, appoints Tim Joslyn as Chief Technology Officer, succeeding the interim CTO James Letley. In 2017, Joslyn co-founded and served as CTO of merchant acquisition company Pollinate, launching Natwest Tyl in 12 months before raising further capital and expanding the business internationally to other banks around the world, including Australian National Bank.
Zūm Rails, a company that combines open banking and instant payments, has started working on a large-scale BaaS (banking as a service) project. Leading this work is Miro Pavletic, the company’s new head of BaaS. Pavletic joins Zūm Rails from previous roles at payments company STACK!, TD Bank, CIBC Capital Markets and CSAM.
THE Financial Technology Association (FTA), a trade association representing fintech companies, welcomed Sara Mamula as head of government affairs. In this role, he will lead the FTA’s legislative advocacy efforts and develop strategies to advance the future of financial innovation. Sarah has been joining FTA since Banking Policy Institute, where he served as vice president for government affairs.
Cash point, appoint a blockchain-enabled B2B payments company Allison Grieb as sales manager. Most recently, Grieb was senior vice president of global sales at Recurrently, a subscription management software company. Before Recurly, you worked at a scheduling software company Anaplan.
Partnerships
GMS, a Canadian health insurance company, has joined forces with CoverGo, a global no-code insurance SaaS platform for health, life and casualty, to digitize GMS’ entire health insurance ecosystem. GMS adopts CoverGo as its end-to-end modular core insurance platform. It will also leverage CoverGo’s patented no-code product creation and policy and claims management capabilities.
Pidgin, a secure real-time payments platform, collaborated correlation, a fintech offering core processing solutions. Pidgin is now a preferred partner of Corelation, and together, the partnership will enable more credit unions to offer real-time payments to their members with Pidgin’s payments ecosystem.
Arcace, the FCA-regulated digital asset exchange, broker and custodian has expanded its custody service by integrating Fire blocks, an enterprise platform for building blockchain applications and managing digital asset operations. It also uses the Fireblocks Network, an enterprise-grade digital asset transfer platform for fast digital asset transactions and dynamic payment workflows.
Crowdeda digital financial management platform that makes bank accounts available to nonprofits, is partnering TransPecos Banks. TransPecos Banks allows Crowded customers to deposit funds into TransPecos bank accounts and access TransPecos-issued debit cards.
Financing and investments
Finout, the company finops-for-enterprise, has secured a $26.3 million Series B funding round led by Capital of the red dot with the participation of Maor Investments and existing investors – Team8, Pitango AND Jibe Ventures. The financing brings the total raised by Finout to $45 million.
Swiipr, a travel paytech startup that has developed a platform for airlines to distribute flight disruption payments has raised £6 million in funding. The round, led by Octopus Ventures, will help drive the company’s next phase of growth. It is estimated that every year more than 500 million passengers worldwide are affected by airline disruptions.
NodeOpsa blockchain node orchestration platform, has secured a $5 million funding round led by L1D with the participation also of Blockchain Founders Fund AND Final Capital. NodeOps plans to rapidly scale its operations, extending its infrastructure to encompass more protocols and creating incentive mechanisms that empower developers.
Holo, The Middle East direct mortgage platform has completed an oversubscribed funding round. With Series A funding on the horizon, the company, having exceeded its targets, has decided to offer investors the opportunity to further invest in the business through a pre-Series A round. The undersubscribed funding round excess was driven by DFDF AND Bottom of the oryx.