Welcome to The Fintech Times Bi-Weekly News Roundup on Tuesday 25 June 2024 bringing you the latest updates from across the world.
Funding and investments
BlueFlame, the generative AI platform for alternative investment managers, has completed its Series A funding round. The $5million private funding round, which was oversubscribed by 25 per cent, was raised through BlueFlameās network of industry leaders and strategic partners, along with significant participation from the management team. BlueFlame will use the funding for product enhancement for clients.
Verituity, a provider of payouts solutions, successfully closed an $18.8million funding round led by Sandbox Industries and Forgepoint Capital with the participation of Ardent Venture Partners and MTech Capital. This latest infusion of capital will accelerate the companyās growth in banking and insurance and Verituityās expansion into new markets, including mortgage servicing and energy.
Appointments
Sidetrade, an AI-powered order-to-cash platform, has welcomed Allison Barlaz as chief marketing officer. This appointment is part of Sidetrade’s plan to enhance its market presence and accelerate growth, with a focus on North America. Barlaz joins Sidetrade with over 25 years of experience in product and marketing roles across software companies, including SaaS vendors.
Tide, the UK business financial platform, has appointed Anna Fromme-Schoen as managing director, Germany. Based in Berlin, she will work with a growing team to establish and expand Tide’s presence in Germany. Tide also launched a product into the German market in May. Fromme-SchoenĀ joins Tide from PayPal Germany where she has worked in leadership roles since 2016.
Thredd, the next-gen payments platform, hires Matt Swann as non-executive director. HeĀ joins Thredd from Nubank where he served as chief technology officer. This appointment follows the recent expansion of Threddās global product and technology team under the leadership of Edwin Poot.
Delta Capita, a global financial services consulting, managed services, and technology provider, appoints Nick Frost as global chief financial officer.Ā Based in London, he will join Delta Capitaās executive committee reporting directly to Group CEO, Joe Channer. Frost will work closely with the global business leadership team to develop the companyās financial strategy and assist Delta Capita with its ambitious growth plans.
Partnerships
Bank payment company GoCardless has unveiled a partnership with integration and automation platform Celigo to accelerate its growth through indirect channels. Leveraging Celigoās integration platform will enable GoCardless to build integrations between its payment platform and the back-end systems. Businesses can incorporate GoCardless bank payments into the software they use everyday, from finance and procurement tools to shipping and fulfilment platforms.
Lloyds Banking Group and Visa have renewed and expanded their 40-year partnership in the UK, as Visa becomes Lloyds Banking Groupās leading scheme provider for its Lloyds Bank, Halifax, Bank of Scotland and MBNA brands. Under the partnership, Lloyds Banking Group and Visa plan to launch a series of market-leading, innovative products and services across the Groupās brands.
Iress has extended its partnership with Acre, a UK mortgage and protection platforms. Under the renewed agreement, Iress will integrate its mortgage sourcing data and Iressās Lender Connect into Acreās intermediaries software; equipping brokers with enhanced sourcing and affordability capabilities, enabling more efficient case management.
Finery Markets, a global trading infrastructure provider for digital assets, partners with BitGo, the digital asset custodian, to bring regulated qualified custody and automated settlement to the Finery Markets trading network. BitGo will secure assets in bankruptcy remote, qualified custody via BitGo Trust Company, Inc and use Go Network, its settlement solution, to clear and settle trades on Fineryās non-custodial platform.
Ecommpay, the end-to-end payments platform for e-commerce, has added BigCommerce to its list of integrations with popular CMS and e-commerce platforms, offering an advanced payment ecosystem built for optimum conversion and growth. The new ready-to-use plugin will let customers to upgrade their payment systems with no downtime, using a simplified integration process.
More partnerships
Genesis Global and interop.io forge a technology alliance to promote software innovation and customised, multi-application workflows in the financial markets industry.Ā Genesis and interop.io share a mission to help financial firms replace legacy technology environments with modern, interconnected applications that improve efficiency and reduce risk.
Sage, a provider for accounting, financial, HR, and payroll technology for small and mid-sized businesses, together with Xeinadin, a UK accountancy firm, announce a strategic partnership.Ā This multi-year partnership positions Sage as the preferred transformation partner for Xeinadin. As part of this strategy, Xeinadin will integrate Sageās advanced solutions into all locations to improve services and enhance client satisfaction.
