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The latest Venture & Investment reporting, interviews and analysis from INSIGHTEX.
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Connect Money, an Egyptian fintech startup, proudly announces that it has been granted a license by the Central Bank of Egypt, marking the start of full operations. This milestone aligns with the Central Bank’s commitment to fostering innovation and driving financial inclusion across the country. Connect Money is poised to leverage its newly acquired license…
Bank payment company GoCardless has completed the acquisition of Sentenial Ltd, operating under the Nuapay brand, from EML Payments Limited (ASX: EML). The deal, which was announced in March, will significantly scale GoCardless’ indirect channel proposition and fast-track the rollout of new capabilities that will enable customers to send as well as collect money through GoCardless. Introducing…
Comun, a digital bank focused on serving immigrants in the U.S., has raised $21.5 million in a Series A funding round, just months after securing $4.5 million in its previous raise. This rapid follow-up highlights the startup’s significant traction in the crowded immigrant-focused banking space. Founded by Andres Santos and Abiel Gutierrez, Comun has grown…
TBC Bank Uzbekistan (TBC UZ), the country’s largest mobile-only bank, announces today it has secured $25 million in debt financing from a private debt fund managed by Switzerland-based impact investor BlueOrchard Finance Ltd (BlueOrchard). These funds will be dedicated to further expanding TBC UZ’s ecosystem. This will contribute to the ongoing growth of the digital…
Shift, a leading provider of credit and payment products to Australian businesses, announced today that it has closed an $AUD35 million Series D funding round, led by Peak XV Partners (formerly Sequoia Capital, SEA). In addition to Peak XV Partners, who led Shift’s Series C round in 2023, several existing shareholders participated in the Series D equity…
Klarna, the AI-powered global payments network and shopping assistant, has acquired Laybuy’s assets in New Zealand, the birthplace of the payments provider, and plans to relaunch the service in the coming weeks. Laybuy, which ceased operations in June, is set to make a reenergized return in New Zealand under Klarna. With Klarna’s extensive expertise and…
Skyfire Systems Inc., an innovative startup specializing in AI-driven payment processing, has officially launched with $8.5 million in initial funding. The funding round attracted over a dozen institutional investors, including Ripple Labs Inc., a leading payment processing software provider with over $200 million in venture capital backing. Skyfire’s co-founders, Amir Sarhangi and Craig DeWitt, both…
Bitwise has acquired ETC Group, a London-based crypto ETP issuer with over $1 billion in assets under management, marking its expansion into Europe. This acquisition adds nine European-listed crypto ETPs to Bitwise’s extensive portfolio, which includes ETPs, hedge fund solutions, and separately managed accounts. Founded in 2019, ETC Group offers a range of physically backed…
Waza, a payment and liquidity platform focused on emerging markets, has raised $8 million in a combination of equity and debt funding to enhance how African businesses, traders, and large organizations manage and pay their global suppliers. The $3 million seed equity round was backed by institutional and strategic investors including Y Combinator, Byld Ventures,…
Sling Money, an app designed to make the global transfer of money instant, easy and low-cost, today announced a $15 million Series A round led by Union Square Ventures, Ribbit Capital, and Slow Ventures. Sling Money previously raised a $5 million seed round led by Ribbit Capital with participation from Slow Ventures. Sling Money combines…
Syfe, Asia’s leading saving and investment platform, today announced that it has closed a USD 27 million funding round, increasing its valuation and bringing total funds raised to USD 79 million. The latest investment has been achieved amidst a challenging funding environment, with funding in Asia at its lowest level since 2015. Despite the broader…
PayZen, a leading technology company focused on addressing healthcare affordability, has announced the successful closing of an oversubscribed $232 million Series B funding round. The round was led by New Enterprise Associates (NEA), with full participation from existing investors including 7wireVentures, SignalFire, and Viola Ventures. This funding includes $32 million in equity and a $200…
