Over $3bn was raised by FinTech companies this week, supercharged by a colossal €1.5bn raised by UK-based SumUp.  SumUp raised the funds from private capital lenders led by Goldman Sachs. This deal is one of the largest European private credit deals in recent years and will help SumUp refinance debt and capitalise on growth opportunities. The FinTech company provides merchants with a free business account and card, an online store, an invoicing solution and in-person and remote payment capabilities. This week’s FinTech funding combined total of $3.2bn is four-times more than last week, wh ..read more

Intellect Design Arena, a pioneering FinTech company known for its cloud-native, API-led microservices-based multi-product platforms, has appointed Rajesh Mehta to its Growth Advisory Board. Intellect Design Arena specialises in creating advanced technology solutions for banking and insurance clients globally. Their products, which include Intellect Global Transaction Banking (iGTB), Intellect Global Consumer Banking (iGCB), and Intellect AI, leverage cutting-edge technology to meet the needs of the modern financial landscape. The company’s flagship platform, eMACH.ai, stands at the forefront ..read more

League Data and Mambu have embarked on a groundbreaking journey to transform the Canadian financial landscape by introducing advanced cloud banking solutions to credit unions. The partnership between League Data and Mambu was driven by the urgent need to replace aging core banking systems with a more robust and flexible digital solution. As the current systems are set to reach end-of-life in 2025, this collaboration comes at a critical time for enhancing the banking experience and operational capabilities of credit unions. League Data is committed to the digital transformation of the Atlantic ..read more

Fingerprint, known as the world’s most accurate device intelligence platform, is partnering with Oscilar, a leader in AI-driven risk and fraud management. The partnership between Fingerprint and Oscilar is driven by the urgent need to tackle increasing online payment fraud, which is expected to result in losses amounting to $343bn between 2023 and 2027. With the rising use of digital financial apps by consumers, there is a critical demand for effective solutions that not only prevent fraud but also maintain a seamless user experience. Fingerprint offers a device intelligence platform that util ..read more

Open English, an online English-learning platform operating in over 30 countries, and dLocal, a leading cross-border payment platform specializing in high-growth markets, have recently announced a significant partnership. The partnership between Open English and dLocal is strategically designed to make education more accessible by simplifying payment processes. By incorporating local and alternative payment methods, the collaboration aims to remove financial barriers for students in emerging markets, ensuring they can easily access learning resources. Open English is a prominent online platfor ..read more

Iress, a leading technology provider for the financial services industry, and Nomo Bank, a pioneering Sharia-compliant digital bank in the UK, have announced a significant partnership. Iress, known for its comprehensive software solutions, including trading and market data, financial advice, and mortgage services, has integrated Nomo Bank’s mortgage products into its platforms, Xplan Mortgage and Trigold. Nomo Bank, operating under the Bank of London and The Middle East plc (BLME), stands out as the newest Islamic bank in the UK and holds a substantial share of the European Islamic banking ass ..read more

Volta Circuit, a pioneering FinTech company, has successfully secured $4.1m in seed funding. This significant financial injection was led by Fika Ventures and Haven Ventures, with additional participation from Soma Capital, Dispersion Capital, and Uphonest Capital. Volta is revolutionizing the digital asset industry through its flagship product, the Volta Circuit. This cutting-edge, multi-signature, non-custodial platform is setting new industry standards for smart wallet infrastructure, characterized by its speed, ease of use, and enhanced security for self-custody of digital assets. Volta Ci ..read more

The IFRS Foundation, in conjunction with the EFRAG, has released comprehensive guidance aimed at facilitating the adoption of sustainability reporting standards. This initiative addresses the growing demand for harmonisation in sustainability reporting practices worldwide. The IFRS Foundation, established to develop a single set of high-quality, globally accepted accounting standards, collaborates with EFRAG, a leading authority in financial reporting within the European Union. The newly published guidance elucidates the convergence between the International Sustainability Standards Board’s (I ..read more

IBM has recently unveiled the latest advancements in its ESG data platform, IBM Envizi. According to ESGWise, the introduction of IBM’s new product comes in response to the growing demand for enhanced sustainability reporting tools, particularly with the emergence of the EU’s Corporate Sustainability Reporting Directive (CSRD). IBM is renowned for its commitment to technological innovation across various sectors, offering a wide range of solutions designed to empower businesses and organizations worldwide. IBM Envizi’s latest module focuses on bolstering sustainability reporting capabilities ..read more

Sylvera has recently introduced an addition to its platform aimed at simplifying and expediting the process of filtering and comparing carbon projects. According to Carbon Herald, the introduction of this new tool addresses the challenges faced by investors in understanding and evaluating the quality and viability of carbon projects. Sylvera is a renowned player in the field of carbon data analytics, offering comprehensive solutions to navigate the complexities of carbon markets. The newly launched feature, Sylvera’s Project Catalog and Screening, aggregates data from multiple registries and p ..read more