Stripe Competitor Rapyd Weighs Valuation Cut in $300 Million Funding Deal
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?? NEWS HIGHLIGHT
Monite has unveiled an iFrame solution that enables SMB platforms to provide financial features to their clients more efficiently.
The integration enables SMB providers such as vertical SaaS, neobanks, and payment platforms to make swift, data-driven decisions and support new standards within the industry.
For B2B companies, creating robust bill pay, invoicing, and payment functionalities internally present a challenge, with them being required to allocate substantial resources and time.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
?? FINTECH HIGHLIGHTS
?? Klarna is getting into Crypto.
?? Stripe Competitor Rapyd Weighs Valuation Cut in $300 Million Funding Deal.
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FINTECH
How Klarna CEO spends his fortune taking big bets on fast-growing startups. Flat Capital, managing Sebastian Siemiatkowski's wealth, has been expanding its AI startup portfolio. Flat is shifting focus from later-stage growth companies, partly driven by Siemiatkowski's personal interest in AI. This AI-focused strategy marks a departure from the firm's previous investment approach.
领英推荐
PAYMENTS
FXellence launches multimarket cross-border payment solution. Available initially in the UK, the new platform caters to business clients, addressing common challenges faced when sending money abroad. Customers will be able to hold over 30 currencies in a single digital wallet, enabling payments to more than 100 countries.
DIGITAL BANKING
ECB hopes Trump's crypto plan will speed up digital euro. The European Commission proposed digital euro legislation in June 2023 but not much has happened since amid scepticism from some lawmakers and bankers. "The political world is becoming more alert to this, and it’s possible that we will see an acceleration in the process," ECB board member said.
UK consumers increasingly moving towards FinTechs and Neobanks for primary bank cards. Digital-only financial providers expanded their overall reach from 16% of adults back in 2018 to a significant 50% in 2024 according to research from RFI Global, the data and insights firm focusing on financial services.
Intelligent Search by Bud Financial set to be the foundation of customer AI experiences. Intelligent Search is able to understand and give detailed context to transaction search queries. It provides these detailed, actionable insights in a summary at the top of the list of transactions queried, turning transactional data into rich customer insights.
PARTNERSHIPS
Decta payments gateway opens the door to Klarna. DECTA clients can now offer customers frictionless, flexible payment options that enhance the shopping experience and drive higher conversion rates. Merchants can attract customers, increase average order values, and improve checkout conversion rates.
iPiD partners with iBanFirst. This integration aims to streamline the process of payee verification within cross-border payments, offering an advanced solution with iPiD Validate, which is intended to improve both payment security and customer experience.
Kuady partners with BridgerPay. The collaboration will make Kuady’s payment services available to all businesses and companies using BridgerPay’s platform, providing a frictionless, secure, and localised payment experience in Chile, Peru, Mexico, Ecuador, and Argentina.
DONEDEAL
JPMorgan Chase’s $?????? ?????????????? investment in a Greek FinTech company. JPMorgan bought Viva.com to boost an international expansion that aimed to create a tech hub in Greece but went so wrong that the bank last year offered to sell back half of its stake at a valuation of $?????? ??????????????.
Wealthon secures €126 million. “The new funding will strengthen our market position and significantly expand Wealthon’s reach. This is great news for small and medium-sized enterprises, for whom we are building our innovative financial solutions ecosystem and whom we aim to support long-term in growing their businesses,” said Co-founder and Chairman of the Supervisory Board at Wealthon.
ZeroRisk raises $4 million. The firm will use the new financing to expand its operations globally, particularly in the US market, where it serves a number of Tier 1 acquiring banks. The company is hiring for 40 roles across a variety of functions, including data science, user experience, product, engineering, and marketing.
INXY Payments raises $3M. “This investment validates our vision to make crypto payments accessible and compliant for businesses, we’re excited to expand our global presence and continue driving innovation in the crypto economy,” said the CEO of INXY Payments.
M&As
Temenos announces the sale of multifonds for about USD 400 million. It has signed an agreement to sell Multifonds, its fund administration software business, to Montagu Private Equity. The sale simplifies the product portfolio and aligns with Temenos’ new strategic and operational plan to drive above-market growth.
Paysafe weighs sale after getting takeover interest. The firm, which is backed by Blackstone Inc. and CVC Capital Partners, is working with a financial adviser as it explores options. It is also studying the potential disposal of non-core assets that could take place before the sale of the company.