Fathom4sight Newsletter: Weekly FinTech news curated by Fathom4sight!
Monday July 29, 2024
Top FinTech News Headlines this Week
?? Neo Financial launched the Neo World Elite Mastercard with a new cashback program
?? Toronto-based point-of-sale financing leader Financeit launches Direct-to-Consumer loan program for home improvement projects
?? Airwallex partners with Float to deliver fast, cost-effective bill payments to Canadian businesses
?? Vancouver-based VoPay has forged a strategic partnership with Sage
?? Toronto-based Gen AI startup Cohere raises $500M USD at $5.5B valuation
?? Vancouver-based Gumloop, which offers a no-code platform to automate workflows with AI, has secured a $3.1M seed round
?? Toronto-based cybersecurity startup Protexxa announced the closing of its $10 million CAD Series A round
?? Toronto-based Uplinq shortlisted as Most Impactful AI-Based Solution by 2024 Finovate Awards
Payments
This program allows users to get rewarded with real money instead of points.?| LinkedIn
Float’s Bill Pay product, introduces payouts, including bank transfers, EFT, wire, and ACH – as part of Float’s unified business finance platform for Canadian companies. Their partnership will enable fast and cost-effective bill payments for both domestic and overseas transactions.?| Fintech.ca
This new collaboration embeds VoPay’s advanced payment technology into Sage’s platform, enabling streamlined financial operations for SMBs through Direct Deposit.?| Fintech.ca
The deal marks the coming together of two preeminent brands known for their focus on innovation and for setting the standard in offering incredible experiences that bring people closer to their passions as well as each other.?| McLaren
The enhanced detection capabilities could lead to fewer declined transactions due to suspected fraud, potentially boosting sales and improving customer experience.?| PYMNTS
Lores succeeds John Donahoe, who is retiring from the PayPal Board after serving as Board Chair since 2015.?| Fintech Finance News
Financial Institutions
Our applications for regulatory approval are in process and we’re fully mobilized to plan and deliver a successful integration,” Capital One Chief Executive Richard Fairbank said. ?| Bank Automation News
The credit card giant increased its allowance for credit losses by more than $800 million following the termination of a partnership with Walmart.?| American Banker
Federal Trade Commission Chair Lina Khan said the "firms could be exploiting" personal data about customers to charge them higher prices.?| American Banker
The acquisition will provide significant capital and accelerate its product growth plans and further global expansion.?| Fintech Finance News
Insurance
LDA’s cutting-edge platform will continue to leverage data from LifeGuide, Equisoft’s newly acquired multi-carrier quoting tool, to integrate product data, generate comprehensive sales reports, concepts, and projections for advisors and MGAs.?| Insurance-Canada.ca
This deal marks Acera Insurance’s first location in Atlantic Canada, officially expanding the independent brokerage’s footprint from coast to coast to coast.?| Insurance-Canada.ca
领英推荐
This comprehensive coverage ensures that property owners can effectively manage risks and safeguard their investments.?| Insurance-Canada.ca
FI Tech & Software
OpenAI’s ChatGPT Enterprise Compliance application programming interfaces (API) allows ChatGPT Enterprise workspace administrators to manage their data to help ensure privacy and compliance with regulatory standards.?| Fintech Finance News
This unified approach reduces revenue leakage, provides real-time insights into customer banking needs, and elevates the digital banking experience for Rabobank’s diverse clientele.?| Fintech Finance News
AI
The round, which had participation from Canadian pension investment manager PSP Investments and Canada’s export credit agency EDC, values Toronto-based Cohere at $5.5 billion.?| TechCrunch
These staff cuts impacted around 20 of the enterprise-focused OpenAI competitor’s 400-person workforce across multiple offices.?| BetaKit
Lending
The program offers personal loans to customers who have received a loan through the Financeit merchant network and provides them with the opportunity to receive an additional loan paid directly into their bank account.?| Fintech.ca
Uplinq Financial Technologies, the global credit decisioning support platform for small business lenders, announced that the company was selected as a 2024 Finovate Awards finalist in the “Most Impactful AI-Based Solution” category.?| Financial Post
Wealth Management
The platform will enable Bladex’s corporate clients to manage their financial needs swiftly and accurately on a unified, integrated, and global platform.?| Fintech Finance News
Tech for Fin
The round was led by San Francisco venture capital firm First Round Capital with participation from Y Combinator and a variety of angel investors, including Instacart co-founder Max Mullen, Dropbox co-founder Arash Ferdowsi, and WePay co-founder Richard Aberman.?| BetaKit
RegTech
Protexxa said the new capital will be used on its platform as well as growing its sales and marketing teams.?| BetaKit
Others
Sleep Country Canada Holdings will be acquired by Fairfax Financial Holdings, offering significant shareholder value.?| Wealth Professional
In addition to the funding announcement, Planned welcomed Frederic Lalonde, CEO and Co-Founder of Hopper and former VP at Expedia, to its Board of Directors.?| Planned
Thanks for sharing our big news, Fathom4sight! Strong partnerships are the key to success, and we are excited to join forces with Sage!
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