This week in Fintech: TFT Bi-Weekly News Roundup 11/22
welcome to Fintech Times Bi-Weekly News Roundup Tuesday, November 22nd! Dive into our selection of the latest updates from around the world.
Partnership
SeedLegals, the legal automation platform for start-up funding, has partnered with Carbon only to drive its first carbon-neutral investment increase. JustCarbon is a blockchain-based carbon offsetting platform that serves for the removal of carbon dioxide from credits obtained from nature-based projects and verified to international standards. The platform seeks to raise up to $5 million in seed investment.
Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, has entered into a partnership with Abu Dhabi Islamic Bank (ADIB), Wio Bank and RAKBANK to facilitate the sharing of knowledge about the latest banking developments and to support small and medium-sized enterprises with access to important financial services. The agreements will provide businesses with preferential banking services, including unique transfer services.
UBS has entered into cooperation with iProov to offer automated identity checks to its key4 of UBS customers. UBS is the first bank in Switzerland to offer this account opening process in combination with qualified electronic signatures. Prior to working with iProov, UBS used video calls to verify clients’ identities.
ThetaRaya provider of AI-powered transaction monitoring technology, has teamed up with Zeepay, a Ghanaian mobile financial services company. Zeepay has chosen ThetaRay’s SONAR SaaS anti-money laundering solution to detect financial crime for its money transfer transactions. The agreement also highlights ThetaRay’s expansion into the African payments market.
It is also a partnership for European open banking actors TrueLayer and NAGA, the European Social Trading Platform. TrueLayer’s closed loop payments will provide customers with immediate account deposits and support NAGA will customer onboarding.
Fly now, pay later, BNPL, the supplier for the travel industry, has entered into a new collaboration with World line. Fly Now Pay Later has been integrated into Worldine’s TravelHub – a platform that provides access to over 150 payment methods and currencies, multi-purchasing, tokenization and a range of fraud services all through a single integration accompanied by a unified reporting and settlement channel.
The job is moving
Singlife with Aviva have named Dr Allen Kuo as Group Deputy Chief Investment Officer. The Singlife Investment Office was established in January 2022 following the formalization of Singlife with Aviva as a newly merged entity.
Dufrain, a data analysis consulting firm, has appointed Alex Meakin as its first ever finance manager. He joins Dufrain from the Brookson Group, a technology-enabled services business. Mark Fowle also recently joined the company as chairman.
Rob Craig has been appointed head of strategy at payFURL, an Australian next-generation online payment orchestration platform. He has previously worked at Westpac, NAB, Bank of New Zealand and National Westminster Bank. He was also chairman of the board of AusPayNet (Australian Payments Network) for seven years.
Meanwhile, Paul Burleton has joined fintech Delio as operations manager. The company said Burleton will play an “instrumental role in shaping Delio’s operating model” as it enters its next phase of growth and international expansion.
Tandem Bank has strengthened its management team with the appointment of two new senior managers. David McCarthy has been appointed CFO, following his move from Atomic Bank. Meanwhile, Wahid Ali joins from The mast haven as Tandem’s new risk manager.
More Fly now, pay later news that it appoints Georgios Gionis as product manager. He was previously director of product management for American Express. Since it was founded in 2015, Fly Now Pay Later has raised $170 million in debt and equity funding.
Funding news
Veax, a decentralized derivatives trading protocol on NEAR, raises $1.2 million pre-seed. Its supporters include Circle Ventures, Proximity Labs, Tacans Labs, Outlier Ventures, Skynet Tradingplus Qredo. Veax is currently on track to launch its v1 Testnet in early December.
Financial software company NeoXam has raised more than €100 million from Eurazeo, who will become the group’s majority shareholder. Historical partners (Cathay capital and BPI) have sold their shares as a result. NeoXam was created in 2014 after a spin-off from Sungard and a series of acquisitions that add a complementary solution.
Fintech ZSuite Tech has completed a funding round of $11 million in Series A. This round was completed by Independent Community Bankers of America (ICBA) and BankTech Ventures, LP (BTV). ZSuite will use the capital to scale operations as well as product development to meet the “increasing market demand for advanced, digital cash and treasury management tools”.
