In this bi-weekly news roundup, several key updates in the fintech industry are highlighted:
- Web3mine, an open-source innovation lab, has raised $6 million in seed funding to develop core web3 services.
- TRES, an accounting and financial data reporting platform for crypto assets, has raised $11 million in Series A financing to expand its solutions for tracking and reporting financial activity on the blockchain.
- Spare, an open banking services provider, has closed a $3 million funding round to support talent acquisition and operations in Saudi Arabia.
- Fiat Republic, a banking-as-a-service platform, has raised $7 million in a seed extension round to strengthen partnerships and expand into new territories.
- Tabby, a shopping and financial services app in the MENA region, has secured up to $700 million in receivables securitization and added $250 million in Series D financing.
Other funding updates include Hakluyt Capital’s investments in various AI-powered platforms, Vestwell’s completion of a $125 million equity round, and EnKash’s regulatory approval to operate as a payment aggregator.
In terms of partnerships, Origence has partnered with Tesla to offer credit union financing to EV buyers, Alchemy Pay has partnered with Worldpay to enhance its payment channels, and Trigger Software has partnered with Mambu to launch a neobank engine.
Additionally, Careem and Mastercard have launched a sustainability campaign to support tree restoration efforts, Europa Underwriting has selected Covernet to streamline policy management processes, and Sygnum Bank has partnered with Aquila GVM Consulting to provide digital asset banking services.
In terms of appointments, Hinckley & Rugby Building Society has appointed a new CEO, Barry Carter, while Socure has welcomed three new executives to support its growth in the digital identity verification and fraud prevention space.
Overall, these updates reflect the ongoing growth and investment in the fintech industry, with a particular focus on blockchain, open banking, and digital identity verification.
