Fintech summary to 20/5/2024

38.29% through the year and the huge news keeps coming for local fintechs - let's get straight to it:

• WeMoney , led by Dan Jovevski has raised $3m+ in funding ? They also announced signing a new commercial deal to leverage and partner with Mastercard's broad Open Banking capabilities in Australia.

• Data Zoo raised $35m in a Series A round to fuel global expansion.

• ASX listed Identitii announced a $2.15m capital raising with major shareholder Cameron Beavis taking up his full entitlement under the rights issue.

• Karta Gift Cards announced a partnership with Visa to process transactions on VisaNet.

• FinClear announced a partnership with Ord Minnett to deliver foreign exchange solutions and international payments ahead of the US T+1 Equity settlement changes.

• Prospa Limited's Q3 FY24 announced a 7.7% decrease in gross loans and a 7.3% revenue decline year-on-year. Total originations and active customers showed slight increases, with a focus on managing credit performance and attracting premium-grade customers.

• Tyro Payments announced new re-brand - Video here: https://www.youtube.com/watch?v=vkXTxhRcIeU

• Sunshine Coast based ? Telescope AI announced the launch of Guardrails, an AI enabled product for compliance and ethical content screening in financial applications. Guardrails is powered by GPT4-o, the groundbreaking new model from OpenAI .

• Azupay announced the appointment of Andrew Baines as Chief Executive Officer. Andrew commences in the role today Monday 20 May 2024.