Fintech Clik2pay, Inovatec to Make Debt Collection Seamless for Lenders

Creditspring is reporting an increase in demand which they are attributing to the rapid increase in the cost of living, which is expected to continue in 2023. Creditsrping said that during the last 12 months, 260,000 borrowers sought credit on the platform, with “members” increasing by 100,000 in the last 12 months.

The team at ThinCats are pleased to announce that they provided £302 million of funding to businesses in 2022. In total, ThinCats has “lent more than £1.3bn to businesses across the UK while assets under management stand at a record £675m.”. Despite a challenging economic backdrop,...

LendInvest (LSE:LINV) has announced a partnership with the British Business Bank to aid in the building of more homes, financed by HSBC, according to a note from the Fintech. LendInvest states that HSBC will provide £100 million for LendInvest’s development finance program. The project is supported by theBritish Business Bank’s ENABLE Guarantee program. This will increase LendInvest’s total Funds under Management to more than £3.6 billion.

Okredo, an open data platform that merges open data, open banking, and credit bureau functionalities, aims to give SMEs in the UK a competitive advantage by “offering access to the most recent data about other UK businesses.”. Okredo will start by “introducing business linkages reports, international credit and sanctions...

Former Plaid product leader Victor Umunze is launching Wafi, a payment-processing platform. Wafi is described as a “next generation” bank payment processing provider that is simple and cost-effective. The new platform is said to eliminate redundant entities in the payment processing flow, generating cost savings while increasing profitability. Wafi claims that e-commerce businesses can reduce payment processing fees by over 50%, and users earn up to 0.75% cash back on each purchase. Wafi also claims to help reduce payment failures as well as mitigating fraud.

Managing compliance risks can feel intimidating, “especially because identity crime and fraud attempts jumped by 36% in 2021 relative to 2020,” according to the Identity Theft Resource Center. As global regulations and accessibility increase, so do compliance risks. To ensure secure operations and offer a swift onboarding experience...

Female-founded Fintech Twinco Capital has announced a $12 million funding round led by Quona Capital. The funding provided both debt and equity capital. Working Capital, as well as existing investors Mundi Ventures and Finch Capital, participated in the round, with Zubi Capital providing the venture debt portion. The Amsterdam and...

Ascendant, an international provider of cross-border business payment solutions and a financial technology company, announced that Battery Ventures, a global, technology-focused investment firm, has agreed “to make a significant investment in the company.”. Once closed, the new investment will “make Battery Ventures the primary investor and enable Ascendant to...

FV Bank, the U.S. licensed global digital bank that offers a vertically-integrated suite of traditional and digital asset banking and custody services to Fintech and blockchain firms, has announced “the launch of their cross-border foreign exchange (FX) payments service for its U.S. and international account holders.”. The new offering...

Milestone Group, the global provider of Oversight and Backup NAV solutions to the investment management industry, has announced that the UK’s largest independent Authorised Corporate Director (ACD), Link Fund Solutions, will “adopt its pControl™ Oversight platform.”:. pControl™ Oversight will “allow Link Fund Solutions (LFS) to independently...

UAE-based Alaan, the spend management platform for Middle Eastern businesses, announced that it has raised $4.5 million pre-Series A funding, “backed by Presight Capital, Y Combinator, and angel investors.”. Together with the $2.5 million seed round last year, Alaan has “raised a total of $7 million in equity.”

Tabby, one of MENA’s shopping and financial services apps, has raised $58 million from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures and Endeavor Catalyst in a Series C round which values the company at $660 million. The fundraise will be used “to expand Tabby’s product...

Klarna, which claims to be the global leader in the generational shift away from credit cards, announced the launch of Money Story in the US Klarna App – “a personal spending summary of 2022 that provides millions of consumers with useful insights into their spending habits and helps them be informed and in control of their finances.”

Milo, a financial technology company that is reimagining the way crypto and global consumers access financial solutions, announced the launch of its new crypto loan product. This launch means that digital asset-holders will now have the opportunity “to use their cryptocurrency as collateral to access loans, ranging in value from USD $10K – $200K and larger on a case-by-case basis.”

The UK government created the Future Fund to provide access to capital to early-stage firms which were most likely unable to access debt capital during the COVID-19 health crisis. The fear was that a generation of innovative young firms would disappear as markets contracted and risk capital dried up. Launched in May 2020, the program ended in January 2021.

BNY Mellon (NYSE: BK) and Fiserv (NASDAQ: FISV), a global provider of payments and financial services technology, have joined forces “to deliver additional capabilities for real-time foreign exchange (FX) rate quotes for payments from U.S. financial institutions.”. Using innovative application programming interface (API) connectivity, financial institutions leveraging Payments Exchange:...

SCRYPT Digital, the Swiss-regulated company offering a single point of access into digital assets for institutions, has been chosen by Kiln, the tech provider behind the first enterprise-grade liquid staking protocol, in order “to provide a seamless on/off-ramping service for its treasury.”. The partnership will allow Kiln “to convert...

We recently caught up with Girts Straujums, CEO of WeavePay, a UK-based payment platform that helps businesses go borderless. Girts Straujums talked about the issues facing Fintech platforms and how certain customer needs are still not being met. Straujums also shared the main reasons why banks in Europe and the UK reject small and medium-sized businesses. Straujums also touched on what he thinks are the most complicated payment problems that need to be solved.

Wise (formerly dba as Transferwise) (LSE:WISE) has announced 15 new partners, in four different markets, to start 2023. In total, Wise now claims 60 partners globally. Wise shares that almost 10 million new customers gained access to Wise, via the Wise Platform, in 2022 alone. The four new markets include:...

QuickNode, a company that claims to provide the “most performant, scalable, reliable blockchain node infrastructure on earth,” has raised $60 million in a Series B round. Nontable Fintech VC QED Investors participated in funding the Miami-based firm, which was led by 10T. The firm was valued at $800 million.