The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 4 February 2025.
Funding and investments
Myne, a wealth and asset tracking platform, has raised $2million and closed its pre-seed funding round. The new investment round was led by Scene Holding, with participation also from Plus VC and a group of strategic angel investors. The funding will be deployed to scale operations, deepen Myne’s technology infrastructure, accelerate user acquisition, support its innovation pipeline as well as its roadmap for regional expansion.
The British Business Bank has agreed to use its ENABLE Guarantee programme to support a senior facility of up to £100million provided by Paragon Bank to LE Capital. For the first time, the British Business Bank has provided a pricing incentive on the guarantee to encourage the funding of electric and hybrid vehicles into the portfolio.
StarkWare has launched a $4million venture fund today to boost Africa’s blockchain startup scene. The new Africa-focused venture is led by Kheireddine Kamal, an African entrepreneur and investor. The investment team will focus on backing small teams, which are in the pre-seed or seed stages, and are looking to deploy their projects on Starknet.
Product news
Investec Bank plc (Investec), an international financial services provider, has launched its new electronic trading platform, ZebrA-X. The platform is designed to create a distinct and high value offering in the market and meet the needs of clients seeking quick and efficient execution in the electronic trading sector.
HR, payroll and benefits software provider Ciphr has unveiled its new real-time payroll software, designed to simplify payroll processing for the private sector. It says the platform boasts a new intuitive UI, with at-a-glance dashboards, an improved user experience, and a raft of new features that remove manual payroll tasks and eliminate the opportunity for human error.
Symple, a compliance automation platform for letting agencies and landlords, has added a non-emergency callout service to enhance its capabilities. The new offering enables landlords and property managers to organise essential, non-emergency gas, plumbing and electrical works on their properties. Users can book jobs with tradespersons instantly, and all visits are guaranteed to take place within 48 hours.
Partnerships
Mastercard has joined forces with Payrails, a payment technology company, to accelerate digital payment transformation and foster innovation tailored to the needs of large enterprises. Through this partnership, the two companies aim to provide efficient payment solutions that enable global businesses to streamline complex transactions, boost flexibility, and optimise financial operations.
PXP, an omnichannel global payment platform, has forged a new strategic partnership with Xolvis, the digital solutions platform, to deliver innovative payment solutions for Xolvis’ customers across multiple markets. Following the successful launch of its first project in the US market last year, the partnership is now set to expand into other regions.
Moneyhub has partnered with Money Squirrel to power its financial management app for small businesses. Moneyhub’s Open Banking-enabled API technology powers Money Squirrel’s platform. It empowers businesses to make the most of their money by automating the saving of future VAT payments into market-leading interest accounts.
PayMedix, a healthcare financing and payments solutions provider, and XO Health, a care and benefits platform dedicated to transforming healthcare for self-insured employers, also announce a strategic partnership. It expands access to PayMedix’s healthcare financing solution to XO Health’s extensive network of self-insured employers, TPAs and value-based providers.
Company updates
Etihad Credit Insurance, the UAE Federal export credit company, has joined the KYC Blockchain Platform. Led by the Dubai Department of Economy and Tourism (DET), the initiative aims to improve ease of doing business, company KYC compliance and customer data quality and enable the KYC network’s future growth by leveraging it as a reliable customer data ecosystem.
HSBC has unveiled plans to move its Qatar Head Office to Msheireb Downtown Doha. The bank opened its first digitally focused branch in Msheireb in the Galleria Mall in 2020. With the move the bank plans to consolidate its operations in one of the most sought-after areas in the country.
Appointments
Broadridge Financial Solutions appoints Stephen Wilkes as senior vice president, head of international buy-side sales. This executive hire reflects Broadridge’s commitment to driving growth and innovation in the international asset management space via strategic investment in talent, innovative solutions and exemplary client service.
Accounting platform iplicit has appointed a new chief operating officer. Olivia McMillan’s arrival follows a £25million investment in iplicit by a growth fund. McMillan previously worked at Toronto-based legal technology provider Dye & Durham. She also oversaw customer operations at Houseful, the property tech, CRM and data company behind the Zoopla brand.
Fintech platform DoubleCheck has named Ashwin Rangan as its new chief executive officer. Rangan succeeds outgoing co-CEOs Joel Schwartz and Bill Amelio. He most recently served as chief innovation and information officer (CIIO) at ICANN, the Internet Corporation for Assigned Names and Numbers.
Payment processing provider PAYSTRAX appoints Tom Suter as regional sales director, UK to spearhead merchant acquisition and partner growth strategies across the UK and Europe. Before joining PAYSTRAX, he held senior sales leadership roles at leading fintech companies, including Braintree (PayPal), Juni and DNA Payments Group, where he scaled teams, optimised sales processes and drove revenue growth.
