Welcome to The Fintech Times Bi-Weekly News Roundup on Thursday 2 November 2023, bringing you the latest updates from across the world.
Leagh Turner has joined the business spend management firm, Coupa as its new CEO. Having previously worked as co-CEO at Ceridian, the human capital management tech company, Turner now brings her skills to Coupa, leading it in its next chapter. She will also be joining the company’s board of directors.
CoinFund, the crypto native investment firm has announced its new senior liquid analyst: Dmitry Lapidus. Based in Hong Kong, Lapidus will help expand the company’s reach and expertise by tapping into his deep knowledge and network of crypto founders and protocols. He will also advise portfolio companies as they navigate local market entry.
Bringing expertise in leading product and sales teams, Mpho Sadiki has joined Network International, the digital commerce enabler in the Middle East and Africa (MEA), as its group managing director – merchant solutions. Sadiki arrives with over 15 years of executive management experience in the financial services and payments industry.
Allfunds, the B2B wealthtech platform, announces Antonio Varela as its new chief operating officer. As COO, Varela will oversee the operations and information technology departments.
The AI-based deal-matching platform, Finnovating has settled on a new ambassador. As the company works towards connecting the US Finnovating community, efforts will now be led by Xiaochen Zhang. He will foster the creation of a collaborative ecosystem to optimise and facilitate strategic fintech partnerships with corporations, and investors. Additionally, he will oversee the connection of the entire American community that is part of the Finnovating platform.
Funding and partnerships
Tabby, the MEA-based shopping and financial services app, has raised $200million in equity financing led by Wellington Management, the independent investment management firm. The financing fortifies Tabby’s balance sheet to serve the accelerating demand for its flagship buy now, pay later offering. Additionally, it now manages over $6billion in annualised transaction volume.
EigenPhi, a player in decentralised finance (DeFi) data analysis, is collaborating with Consensys, the blockchain and web3 software company to support the latter’s efforts in improving the experience of transacting and expressing intents on public blockchain networks. EigenPhi will regularly supply Consensys and its products and platforms, i.e., Metamask and Infura. It will also offer comprehensive research reports, offering data-driven insights and analytics into transaction structures and trading strategies.
Announcements and launches
Digital payments network, MFS Africa has rebranded to Onafriq. The rebrand reflects the company’s evolution from being just a mobile financial service provider to an omnichannel platform. Dare Okoudjou, founder and CEO, said: “As we embark on this next phase of our journey, we wanted a name that reflects our aspiration of wiring up the whole continent into one network of networks with pathways from and to every African and every African business.”
The inspiration behind the new name, Onafriq, stems from the fusion of several powerful words: ‘Ona’, the Yoruba word for pathways and the French word for Africa, Afrique – plus a nod to IQ, signalling MFS Africa’s commitment to being the smartest game in African fintech.
Former Revolut executive, Andria Evripidou, launches XDA.io, fusing crypto and payments for iGaming. The new platform, built with streamlining and compliance in mind, addresses the growing demand among gaming and gambling companies for a more accessible and user-friendly banking and cryptocurrency ecosystem within the gaming community.