This week in Fintech: TFT Bi-Weekly News Roundup 06/09
Fintech Times The Bi-Weekly News Roundup serves up a dose of the latest fintech news from around the world this Tuesday.
Company updates
Emirates NBD, a banking group in the MENAT region, has launched a mega promotion for foreign exchange customers, with more than 9,000 prizes on offer. As part of the three-month promotion, customers who carry out currency transactions, across DirectRemit transfers, currency conversions and remittances, can win 100 daily prizes.
Danish fintech PayProf has received a payment license from the Danish Financial Supervisory Authority. The platform was created in 2019 by a Danish trading platform for used cars, for its own needs for payment options. It can now offer its secure escrow service to individuals and companies shopping online.
PalmPay, a fintech innovator that aims to make digital payments more accessible and flexible has launched a 35-day campaign offering users of its Gold Rush in-app game the chance to share a N300million cash giveaway. The giveaway also marks that PalmPay has reached the milestone of 10 million users in Nigeria.
FinaMaze launches new product – US Rates Protect Smartfolio – in the wake of rising inflation and interest rate hikes. It is designed to generate profits if interest rates continue to rise. Customers can also cancel for zero fees, at any time.
Acquisition
Cornerstone FS, the cloud-based provider of international payments, foreign exchange risk management and electronic account services to small and medium-sized businesses, has agreed to buy the entire share capital of Pangea FX, a specialist foreign exchange and financial consultancy business, for up to £200,000. Pangea co-founders Joe Jones and Stuart Plummer will also join the Cornerstone team.
ConnectWise have acquired Wise-Sync, an integrated payment automation platform. The acquisition will connect ConnectWise’s IT solution provider software and services platform with payment processing and billing automation functionality. Partners who use ConnectWise Sell now also have access to Wise-Pay as a payment processor.
The job is moving
B2B payment company Mondu has employed two senior employees. Julian Kurz is called CCO while Lauren Hoehlein Joseph is CPO. The appointments follow the company’s $43million Series A round earlier this year. Mondu hailed the new additions as it also continues to expand internationally and introduce new products.
Kani Payments, the data reconciliation and reporting platform, appoints Dan Clappison to CEO to drive operations across the company as it continues to grow and scale. Clappison joins Aaron HolmesCEO, Melissa Beckett, CMO and Steven Licciardi, CTO in the new senior management group.
Security company Barracuda has unveiled Chris Ross, as the new tax chief. Ross previously joined Barracuda in 2015 as senior vice president of international sales. As CRO, Ross will focus on accelerating the company’s current growth trajectory across its geographic sales regions.
LifeSearchthe British life insurance broker, has appointed Sam Stafford in the newly created role of data controller. Most recently Stafford as head of digital data science at Admiral Insurance. The new position is part of the broker’s plan to build on its digital transformation and invest in customer journeys.
Look upa provider of data-centric endpoint and cloud security solutions, has unveiled Deborah Wolf as its new Chief Marketing Officer (CMO). Wolf will lead the global go-to-market functions for Lookout, as well as the team of business development representatives. Wolf’s appointment comes as Lookout accelerates its commitment to designing and delivering digital security solutions for the intersection of corporate and personal data.
Boutique investment bank DAI Master appoints Risana Zitha to lead the Africa division as CEO. He joins after several years at Renaissance Capital. Zitha also spent 18 years with Morgan Stanley.
Final event mark Money 20/20 has appointed former M&C Saatchi and Omnicom market and growth manager, Geraint Jones, as global VP marketing. Geraint is responsible for the vision, leadership, strategic direction and performance of Money20/20’s marketing.
Financing and investments
Emonovo (previously MARCH 3), the MENA ed-tech platform, has raised an undisclosed bridge round of strategic angel investors from the US, Europe and MENA and follow-on investment from Flat6Labs. The platform uses technology and data to match MENA youth with the most suitable majors and universities worldwide.
Sheet Capital triples its valuation six months after seed with an acceleration round of €15 million. The data-driven precision finance company’s latest funding round attracted Swedish banker Annika Falkengren. Investors also included LocalGlobe and Creandum.
Start-up company Raft, the cloud-based platform for creating and sharing development environments, has come out of stealth with $5 million in seed funding. The $5 million seed round was led by Aleph VC and Cardumen Capital.
