Welcome to The Fintech Times Bi-Weekly News Roundup on Tuesday 7th May 2024, bringing you the latest updates from across the world.
Appointments
Payment infrastructure provider Mangopay has announced the appointment of Ariel Shoham as vice president of product for risk, bringing over 25 years of multi-disciplinary experience in artificial intelligence and machine learning.
TerraPay, a global money movement network and payments infrastructure company, has appointed Hassan Chatila as vice president and global head of network. He will lead the expansion and optimisation of TerraPay’s global payout network.
Personal lines insurtech, Policy Expert, has appointed Nicki Charles as its chief marketing and retail officer following its recent leadership expansion.
Simon Pinckney has been appointed senior investment consultant at Enhance, an investment monitoring and advisory boutique. He works closely with Tom Wiseman, CEO, and Dr Ruzhen Li, head of advisory, and predominantly focuses on advising family offices, trusts and charities with a UK or Isle of Man nexus on asset and manager allocation.
Global professional services firm Alvarez & Marsal (A&M) has strengthened its Sovereign Advisory Services (SAS) practice with the appointment of Abdalla ElEbiary as managing director.
Mergers and aquisitions
Turkish fintech iyzico has announced the acquisition of Paynet, a significant player in the Turkish fintech landscape. This move marks a pivotal moment in iyzico’s journey towards enhancing its portfolio and expanding its market reach.
Gallant Capital Partners, a private equity firm, has acquired Fime and UL Solutions’ payments testing business, combining the technical capabilities and expertise of both businesses under the Fime brand to create a global leader in payments, smart mobility & digital ID.
Corlytics, a provider of regulatory intelligence and policy compliance technology, has acquired a digital regtech platform from Deloitte UK. The announcement closely follows Verdane’s majority stake investment last month to cement Corlytics’ global category leadership.
Partnerships
Cogo, the sustainability fintech, that works with banks to help customers lower their carbon footprint, has established a new partnership with Bantotal, the customer-centric banking platform. The partnership aims to introduce Cogo’s expertise in carbon management to retail and business banks within North and South America through Bantotal’s extensive banking network.
EMURGO, a founding entity of the Cardano blockchain, announced a strategic relationship with global cryptocurrency trading firm and liquidity provider, GSR to onboard its suite of services to the Cardano ecosystem.
UK-based fintech Akoni Hub partners with Swoop Funding to offer comprehensive cash management services tailored specifically for their SME clients.
CLOWD9, a cloud–native issuer processing platform, has announced the selection of tell.money as its strategic Software–as–a–Service (SaaS) partner to revolutionise Confirmation of Payee (CoP) and open banking compliance in the UK and European markets.
Cognizant and Google Cloud have announced their strategic partnership in the Saudi region to accelerate the adoption of cutting-edge technologies, with a strong focus on generative AI, data modernisation, and application migration.
Zūm Rails, an open banking payments software provider, has announced its work with Fiserv, a global provider of payments and financial services technology, to embed payments and banking capabilities for US businesses.
Investments and funding rounds
British Business Investments has announced a £50million commitment with DunPort Capital Management to create a co-investment vehicle, Alder Corporate Credit DAC. The investment vehicle will provide smaller businesses with a turnover of less than £100million with flexible debt capital solutions, that are wholly or predominantly based, headquartered, or operating in the UK.
One of Europe’s largest SME lenders, iwoca, secures £150million from Citibank and Insight Investment for its German expansion, as well as an additional £120million from Barclays and Värde Partners for the UK, taking total gross investment in the business past £1billion. The new funding will support the growing demand for SME finance.
