This week in Fintech: TFT Bi-Weekly News Roundup 01/12
Fintech Times Bi-Weekly News Roundup brings investment success stories for Shield and Buckzy Payments, plus a new VP of Sales for Tuum.
Financing and investment
Buckzy Payments, a Canadian real-time cross-border payment network, has raised $14.5 million in Series A funding from new and existing investors. It plans to use the funding to enter new geographies and support the expansion of its product offering. The funding was led by Mistral Venture Partners and Non-correlated businesses, with participation also from Luge Capital and Blue 9 Capital.
Teampaythe all-in-one shopping platform, has raised $47 million in Series B funding led by existing investor Nice venture capital. Mastercard, Proof Ventures, Trestle and Espresso Capital also backed the oversubscribed round, bringing Teampay’s total funding to $65 million. In addition, Teampay will expand its partnership with Mastercard to accelerate its go-to-market strategy.
Israel’s Shield has secured a Series B funding round of $20 million. Lead by Macquarie capital and joined UBS through its venture and innovation unit UBS Next, Mindset Ventures plus OurCrowd. It follows a $15 million Series A round in early 2022. It will use the funds to further grow in existing markets and expand into new ones, including the US. The firm is also opening its second R&D facility in Lisbon, Portugal.
Position appointments
Provider of cloud banking solutions nCino has appointed William (Bill) Spruill to his board. Spruill is co-founder and former CEO of Global Data Consortium (GDC), an electronic identity verification company. He joins as the company plans to scale globally.
Defaqto, a financial information, rating and fintech business, has appointed Glen Porter as its new commercial director. He will lead the development of their insight and data-led services to help people make smarter financial decisions. Steve Lomax also joined the company as CEO earlier this year.
IDnowthe European identity proof platform provider, has appointed Jason Tucker-Feltham as head of crypto sales. He is also committee chairman at Crypto Club Global. He will be responsible for IDnow’s go-to-market crypto strategy.
Tum, the core banking platform, has named Giorgio Daher as sales director in the UK. The appointment is part of the company’s wider strategy to support strong demand for the technology in the UK, including the opening of a new office in London. Tuum was formerly known as Modular bank but rebranded last September.
Company updates
Cambristits data processing platform has now processed over $1 billion in issuer cross-border payment transactions since the platform’s official launch in 2019. The platform is used by banks and fintechs to deliver advanced back office efficiencies related to currency wallets, card scheme settlement, reconciliation and reporting for debit and credit card programs.
MANGOPAY procures Nethon to provide platforms and marketplaces with dedicated anti-fraud solutions. As part of Advent Internationalits investment, MANGOPAY acquires the fraud detection and prevention company Nethone to provide platforms with a comprehensive payment and risk management solution.
Kriya – the new name of MarketFinance – has unveiled the company’s new brand and also appoints a new chairman and two other board members. Michael Woodburn will be Kriya’s new chairman. Also with Michael in Kriya’s board is Luke Griffiths and Myles Dawson.
Partnership
NeftaThe Web3 technology platform, has announced a new collaboration with GIVE AWAY, a blockchain game studio with a growing portfolio of play-and-earn mobile games. Nefta will provide its end-to-end Web3 technology to VIKER to facilitate deeper blockchain integration in its current and upcoming games.
paysafe, a payment platform, has entered into a partnership with travel brand Virgin Voyages. Paysafe will ensure that travelers can quickly and securely pay online for their next cruise with the company. It also means that Virgin Voyages can accept payments in more currencies in addition to US dollars.
Visa and GoHenry expanding successful partnerships in the UK to help children around the world gain confidence with money and finances. Visa becomes the exclusive network partner for GoHenry’s prepaid cards for children and teenagers in the US, UK and Europe.
Mbanq, a US bank-as-a-service provider, has expanded its relationship with Temenos to accelerate BaaS adoption in the US. The agreement deepens the companies’ collaboration following last year’s launch of a joint credit union as-a-service offer. Temenos has also made a minority investment in Mbanq.
Pyramid analysisthe provider of intelligence platforms, has announced new partnerships with Datazed Associates, Data Answers and Digital data consultancy. Partners gain access to the Pyramid Decision Intelligence Platform, an innovative extended analytics platform.
