It’s time to delve into The Fintech Times Bi-Weekly News Roundup on Thursday 18 January 2024 for the latest updates from across the global fintech industry.
Funding and investments
Vertice, the integrated SaaS and cloud spend management platform, has secured a $25million Series B. The company has now raised a total of $51million since January 2022. 3North and Bessemer Venture Partners, were the lead investors in the company’s Series A. Vertice will use the capital to further fuel its pace of product innovation and accelerate its worldwide expansion.
Enterprise-grade staking platform Kiln has closed a $17million funding round led by 1kx, with participation also from IOSG, Crypto.com, Wintermute Ventures, KXVC and LBank. The assets raised will fund Kiln’s global expansion, including the growth of its APAC division, and will also facilitate further product development by expanding its platform to encompass various reward mechanisms within DeFi.
London-based Tint Financial Services, a cross-border fintech committed to streamlining and improving trade for SMEs and their supply chains, has hit a funding milestone, facilitating the global flow of goods valued at $20million. Channel Capital, an alternative investment fund manager, supports Tint’s lending.
Harbiz, the technology platform for fitness professionals, has closed a €5million funding round to strengthen its international presence, focusing on consolidating its growth in the UK and German markets. The funding will also be used to fuel its go-to-market strategy of product-led growth, in addition to continuing to attract international talent.
Argentinian payments infrastructure startup Pomelo has raised $40million in a Series B round of funding. Kaszek led the round alongside participation from monashees, Index Ventures, S32, TQ Ventures as well as Endeavor Catalyst. It plans to use the new capital in part to double down on Brazil, Mexico and Colombia.
Appointments
The newly launched Cyber Monitoring Centre (CMC) has announced Ciaran Martin as chair of its technical committee. Martin previously set up and led the UK’s National Cyber Security Centre and is an advisor to a number of governments on cybersecurity. He is joined by Sadie Creese, professor of cybersecurity at the University of Oxford, Dan Jeffery MD at Daintta, Jamie MacColl, research fellow in cybersecurity at the Royal United Services Institute (RUSI), and Julian Williams at Durham University.
Stax, a global strategy consulting firm for private equity firms, hedge funds and investment banks, has welcomed Phil Dunne as managing director. He will lead the growth of the firm’s practice in the UK and EMEA. Dunne joins Stax from his position as UK managing partner at Roland Berger.
Boku Inc, a global network for localised payment solutions, has appointed Stuart Neal as CEO and as a director of the company. Neal takes the helm from Jon Prideaux, who announced his intention to retire in July 2023 and will also remain on the board as a non-executive director.
Fintech Gresham Technologies appoints Andrew Elmore as chief technology officer. He joins from AutoRek. Meanwhile, Neil Vernon, the current CTO, will transition into a newly created role as chief product and innovation officer. Vernon will focus on developing the next generation of product solutions at the forefront of AI and ML.
Company updates
Insurtech Qover launches its motor insurance solution in the UK, which enables car manufacturers to provide digital insurance programs across Europe. In line with Qover’s goal of covering all European markets by the end of 2025, the UK is now the ninth country where Qover orchestrates motor insurance programmes, as well as Austria, Belgium, Denmark, France, Germany, the Netherlands, Portugal and Spain.
Biometrics company Fingerprint Cards AB launches Smart´Nroll, a reusable enrolment device for biometric payment cards. Smart´Nroll enables end-users to easily and securely register their fingerprints on their payment card, in under a minute and at their own convenience, anywhere in the world.
