At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news. Fundcraft bags €5 million Fundcraft, a supplier of digital infrastructure for asset management firms, has closed a €5 million Series A funding round. The round was led by Swiss VC Aperture Capital with support from SIX Fintech Ventures, the CVC division of SIX Group, alongside other early backers.  Founded in 2020 and based in L ..read more

Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring GoTyme Bank, National Australia Bank, Mitigram, Monzo and more. Monzo secures additional $190m funding from new and existing investors Monzo secures additional $190m Monzo has secured an additional $190 million in its latest round of funding, with the digital challenger’s post-money valuation now surpassing $5.2 billion. UK-based VC firm Hedosophia supported the raise as a new investor, alongside existing investors including CapitalG, the independent growth fund of Google’s parent company ..read more

R&T Deposit Solutions, a US-based provider of cash management and deposit placement programmes, has appointed industry veteran Mieko Shibata as its new executive vice president and chief information officer (CIO). R&T names Mieko Shibata as new EVP and CIO (Image: LinkedIn) Shibata, who will also serve as a member of the company’s executive management committee, has been tasked with overseeing R&T’s technology strategy. Commenting on the firm’s new appointment, R&T’s executive chairperson Susan Cosgrove says Shibata’s “wealth of experience in financial technologies” will cont ..read more

US fintech Chime has been fined $3.25 million by the Consumer Financial Protection Bureau (CFPB) for failing to issue balance refunds quickly enough to consumers after their checking and savings accounts were closed. Chime fined $3.25m by CFPB The CFPB says: “Until 2021, Chime’s policy, reflected in consumer account agreements, was to process and mail refund checks within 14 days of an account’s closure.” However, the regulator claims that “thousands of consumers waited for weeks or even months for balance refunds” after closing their accounts, claiming that it found “thousands of instances ..read more

Abound, a UK-based credit technology firm, has secured a new financing round made up of a mix of equity and debt financing that could extend up to £800 million. Abound and Render’s co-founders Dr Michelle He and Gerald Chappell (Image source: Abound) The financing includes a multi-year asset-backed debt financing arrangement from existing backer Citi, while Silicon Valley-based GSR Ventures led the Series B equity component. The recently concluded round supplements the firm’s £500 million equity and debt financing raise secured last year. Founded in 2020 by Gerald Chappell and Dr Michelle He ..read more

I have always been fascinated by the US financial services market. I’m struck by its differences more than its similarities. The financial services sector is changing rapidly, driven by new technologies and new approaches At one stage in my career, this was a lived experience as I had some American banking clients, but as that was a long, long time ago, I have been keen to catch up with some of the latest in-market goings on. Therefore, I was delighted when I recently spoke with Riaz Syed, the CEO of Infinant, a US-based new banking technology company, on the Demystify Podcast. We delved int ..read more

Equals Money, a subsidiary of UK-based paytech Equals Group, has been selected to power Chorus TM, a new financial management platform for the music industry. Chorus TM co-founders Freddy Greenish and Simon Liddell (Image: LinkedIn) Crafted by entertainment industry veterans Freddy Greenish and Simon Liddell, the new platform will furnish entertainment managers with real-time spending reporting, optimised reconciliation processes, foreign exchange management strategies, and domestic and international payment capabilities. In addition to a new app and online platform, Chorus TM will also intr ..read more

UK-based mutual Ecology Building Society has partnered with Monument Technology for a core banking overhaul. Ecology Building Society taps Monument Technology The deal will see the mutual integrate Monument’s cloud-based banking platform-as-a-service into its core banking and customer relationship management (CRM) systems. Its remit will extend to the management of Ecology’s general ledger and regulatory reporting data, and will also be used to power its mobile app. According to a statement released by the pair, the integration is scheduled for “next year”, subject to contract and regulatory ..read more

Swedish digital trade financing platform Mitigram has appointed Pedram Tadayon as its new CEO. Pedram Tadayon named new Mitigram CEO Tadayon has been tasked with “expanding Mitigram’s network of partners to accelerate digital transformation within the trade finance industry”, as well as overseeing product delivery. The new CEO brings over 25 years of experience in financial services and technology to the role. Before joining Mitigram, he co-founded Visualizy, a paytech based in Sweden. Additionally, Tadayon boasts a resume which includes various leadership positions at organisations such as ..read more

Monzo has secured an additional $190 million in its latest round of funding, with the digital challenger’s post-money valuation now surpassing $5.2 billion. Monzo secures an additional $190m for new growth UK-based VC firm Hedosophia supported the raise as a new investor, alongside existing investors including CapitalG, the independent growth fund of Google’s parent company Alphabet. The new funding adds to Monzo’s initial $430 million raise in March, which was led by CapitalG. In a statement, TS Anil, CEO of Monzo, claims the additional funding exemplifies “the momentum and strength of our ..read more