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Winter officially begins at the end of the week for many of us, and the seasonal, end-of-year holidays are right around the corner.
This week in the Fintech Rundown we start off with news of a major acquisition in the supply chain finance space, and a handful of fundraisings in fields ranging from wealth management to crypto.
Payments
FIS agrees to acquire supply chain finance platform Demica in a deal estimated to be worth $300 million.
Mastercard partners with Riyad Bank subsidiary Jeel to promote payment modernization in Saudi Arabia.
Card.com collaborates with Visa to introduce Visa Direct Cross-Border payments.
MessagePay and AKUVO partner to infuse collections with advanced payment technology.
Pioneer FCU selects Payfinia’s Instant Payment Xchange for real-time payments.
Wealth management
U.K.-based investment platform WiseAlpha enables retail investors to buy and sell corporate bonds.
Jiko raises $29 million in Series C funding to power its platform that gives investors access to U.S. Treasury bills.
B2B wealthtech platform Allfunds unveils its AI-powered navigation assistant, ANA.
Personal finance management
U.S.-based PFM app Current secures $200 million in funding from Andreessen Horowitz, Wellington Management, Avenir, General Catalyst, and Cross River.
Crypto / DeFi
Nigeria-based, cross-border stablecoin company Juicyway locks in $3 million in pre-seed funding.
Cryptocurrency exchange Bitget looks to establish a regional European hub in Lithuania.
Ripple launches RLUSD Stablecoin after landing NYDFS approval.
Digital banking
TBC Uzbekistan launches its digital-only business banking platform.
Raisin U.K. teams up with Salt Edge to enhance open banking compliance and customer experience.
Tyme Group receives $250 million in a Series D round led by NuBank’s Nu Holdings.
Plinqit surpasses $2 billion in deposits.
Insurtech
CU Financial Group and insurtech company Sure introduce SimpleQuote, a digital insurance solution for credit unions.
Photo by Brigitte Tohm
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