Welcome to The Fintech Times Bi-Weekly News Roundup on Thursday 6 July 2023.
Nomentia, a provider of cloud-based treasury and cash management software solutions, has revealed new board members following the recent majority investment from Inflexion. Rick Medlock is now chairman, while also joining is Sergio Ferrarini, Henrik Nordman, Martin Bellin, Jukka Sallinen and Tami Halttunen.
ETC Group, a European provider of digital asset-backed securities, has announced a senior management shakeup. It is moving away from a co-CEO model, with Tim Bevan taking over as sole CEO to drive the ETP business, while Bradley Duke takes on the role of chief strategy officer. Duke also becomes non-executive chairman of the group’s UK entity. Both Bevan and Duke are founders of ETC Group.
Tech consultancy Opencast has appointed Paul Malcolm as corporate development industry lead for healthcare. He will help Opencast build its health client portfolio, which includes public and private healthcare organisations and emerging digital healthcare startups.
FinCity.Tokyo, a public-private organisation dedicated to raising Tokyo’s profile as a global financial hub, has appointed Chang Li, vice president of fintech / insurtech at Plug and Play Japan, as its new ambassador. She will work alongside FinCity.Tokyo’s other three ambassadors to communicate with financial professionals worldwide through global events, media and social media.
Anaptyss, a digital solutions company for the banking and financial services industry, has appointed Edward P. Schreiber as well as Allison Sagraves to its advisory board. “This development underlines Anaptyss’ continued focus on bringing niche domain expertise to shape and accelerate realistic digital delivery experience for financial services,” stated Anuj Khurana, co-founder, and CEO, Anaptyss.
BharatPe Group hires Pankaj Goel as chief technology officer. Prior to joining BharatPe, Goel was the head of payments engineering at Razorpay. He has also held roles at Intuit, Trilogy, and Sun Microsystems. Goel will spearhead the technology and innovation strategy across the Group of companies.
Moneycorp, a cross-border payments business, has appointed chief financial officer Velizar Tarashev as its next CEO. Tarashev succeeds Mark Horgan, who steps down after 12 years in the role. Hogan will remain on the board of Moneycorp and will also assume the role of deputy chairman in early 2024.
Financial group MUFG has named Yohsuke Takahashi as regional head for Middle East. He is responsible for all operations from the Dubai International Financial Centre (DIFC) branch in Dubai. Most recently, he held the role of head of investor relations office in Japan. Takahashi replaces Masashi Sakai.
Global professional services firm Alvarez & Marsal (A&M) appoints Robin Roy as a managing director in Saudi Arabia. Roy brings 35 years of experience to A&M’s growing disputes and investigations practice. The appointment reflects the company’s strategic focus on industry-based expertise in governance, risk and compliance, combined into a single, dedicated practice.
Fintech SumUp appoints Anna Kuriakose as chief product officer. Kuriakose joins from Meta, where she was the product director for Messenger on Windows and Mac and web-based video calling. Prior to Meta, Anna held CPO roles at companies including JustGiving and TotallyMoney, and was an early product manager at Skype.
Adviser platform and technology company Platform One has hired Terry Leavy as its chief operations officer. He joins after more than a decade at SEI, where he was operational director in its UK wealth platform business. Before that he spent nine years in the asset servicing business of investment bank Nomura.
Andrea Isola appointed as VP of European markets and business operations at N26. Isola will continue to hold the role of general manager for Italy and South-East Europe on an interim basis until the appointment of the new head of the Italian subsidiary.
Aviva has turned to Clearwater Analytics’ SaaS model and multi-asset service platform to power its investment accounting operations. Aviva selected Clearwater for its fully automated investment data aggregation, reconciliation, and accounting platform, as well as for its “flexible experience”.
Fintex Capital enters long term partnership with motor finance lender Go Car Credit to support £4million of monthly originations. The fintech investment firm dedicated to alternative credit has provided a funding line to Go Car Credit.
Australian Payments Plus (AP+) has welcomed Worldpay from FIS to its domestic debit network, eftpos, enabling Worldpay from FIS’ customers to have access to secure online payments capabilities and features.Through the partnership, AP+ and Worldpay from FIS will help merchants “offer consumers the payment experiences they want”.
Fintech SumUp has selected Form3, the cloud-native account-to-account payments platform, to provide direct access into the UK Faster Payments Scheme (FPS) and Bacs Scheme. SumUp will connect to the Form3 platform via a single API, while Barclays will provide scheme settlement with the Bank of England on SumUp’s behalf.
Concordium, a layer-1 blockchain incorporating a self-sovereign ID framework, has teamed up with IMPERO Group, a technology consulting firm based in South East Asia. Concordium now offers secure digital identities across South East Asia, “ensuring data integrity and privacy, creating safer and seamless interactions between citizens and government services”.
A2A payment infrastructure provider Token.io and payment processor Total Processing have teamed up to offer account-to-account (A2A) payments to European customers. Total Processing leverages Token.io’s connectivity network and platform to launch Pay by Bank as a core payment method.
Checkout finance provider Divido has upgraded its UK direct-to-merchant platform to give merchants easy access to retail finance across Europe. ‘Divido Connect’ provides a single point of integration into multiple lenders across key European markets. This lets merchants offer omnichannel retail finance across seven countries including the UK, France, Belgium, Spain, Portugal, Italy and Romania.
Adyen, a fintech platform for businesses, has launched ‘Data Connect for Marketing’, a new product enabling omnichannel retailers to leverage payments data to improve marketing initiatives and provide an enhanced understanding of customers. Profile identifiers can link previously unidentified in-store transactions to shopper profiles to unlock analytics-driven use cases.
LMS, a conveyancing technology provider, together with software development company Xperate, has launched LMS Plug and Play. The technology lets law firms access digital tools pioneered by LMS through their own CMS platforms, starting with ALB and P4W, to improve technology accessibility and time efficiencies in the conveyancing sector.
Funding and investments
Swiss fintech startup Numarics has raised a €10.2million seed round for its automated accounting and administration solution for SMEs. The investment was co-led by UBS Next, as well as FiveT Fintech. Other investors also included Wingman Ventures and Seed X. The seed investment will support Numarics growth through acquisitions, expansion in the DACH region as well as further product development.
Insurtech Qover has closed a $30million Series C up-round funding. The investment will fuel the company’s growth trajectory, drive new solutions, lead to more partnerships and propel it closer to achieving profitability. The round saw participation investors, including Alven, Anthemis, Kreos Capital and Zurich Global Ventures.
SuperSight, a London-based generative AI startup, bags a $1million pre-seed round, backed by Blockchain Founders Fund, Animoca Brands, Druid Ventures, Emurgo, Next Gen Web 3 and Vayner Fund. The funding paves the way for SuperSight to accelerate the development of vertical-specific foundational models.