The Fintech Times News Roundup
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This Week in Fintech: TFT Bi-Weekly News Roundup 27/09

In The Fintech Times Bi-Weekly News Roundup on Tuesday we hear news of profitability for lender Allica and funding success for fintech Julaya.


iDenfy has forged a partnership with EcoD NPO, a non-profit organisation founded by the Innovation in Politics Institute, aiming to improve democratic politics. iDenfy’s verification solution will be used to help safely onboard new applicants.

Qatar’s award-winning fintech startup C Wallet Services has entered into a partnership with Visa in order to expand their product offerings. Under the agreement, CWallet will issue prepaid cards to its customers, and make available Payment Gateway for both online and offline merchants. Visa will also advise CWallet on its future financial institution relationships.

Banking-as-a-service provider Contis has teamed up with NagaPay to launch a new crypto programme in the European Economic Area. The Visa approved programme, powered by the Contis Buffer solution, gives customers the choice to spend either fiat currency from their NagaPay wallet or cryptocurrency from their NAGA X wallet.

DFM, a financing partner in the Netherlands, has chosen Worldline as its partner in instant payments and clearing & settlement mechanism partner. Worldline now handles instant payments and back-office processing services for DFM via its payment licence partner Volkswagen Bank, as part of a five-year contract.

Payment technology company Tribe Payments is providing digital bank Paytend with both issuer and acquirer processing services. The partnership enhances Paytend’s product offering, enabling them to issue payment cards, allow users to add cards to mobile wallets as well as allow merchants to accept POS and online transactions.

partnerships roundup

Company updates

SME fintech lender Allica has reached profitability in just over two years since opening. Allica has lent more than £1billion to SMEs since 2020 – with new monthly loan originations in Q3 reaching close to £1billion on an annualised basis. It makes it one of the fastest UK fintechs to achieve profitability.

Resilience, the cyber risk company, has expanded its global offering by launching a new operation in London. It follows a swathe of senior hires drawn from the UK insurance, intelligence, and cybersecurity organisations. In a deal brokered by Lockton Re LLP, this expansion is backed by a capacity agreement with HDI Global Specialty SE, for Resilience to enter the UK market.

Funding and investments

Lars Seier Christensen, chairman of the Swiss non-profit Concordium Foundation, has invested further in the ecosystem around Concordium Blockchain. The additional €10million will finance projects looking to build on or integrate their dApps on the Concordium chain.

Remofirst has come out of stealth with a $14.1million fundraise to fix payroll for remote-first teams. Fintech investors Mouro Capital and QED Investors co-led the round with additional participation from Counterpart Ventures. Remofirst’s services include onboarding, payroll, benefits, taxes and local compliance.

Frost, the e-money institution, has embarked on the next stage of its growth journey following a successful summer of fundraising. Since launching in May 2022, the innovative e-wallet provider has raised £1.1million. In July the business closed a major seed funding round with key investors and additions to the team. As part of the round, Andrew Jennings, MD of Osun Capital has joined Frost as chief strategy officer.

Fintech Adatree has closed a second funding round, attracting investment from both new and existing investors. It follows triple-digit percentage growth year on year, since its inception in 2019. The funds will further enhance Adatree’s products and capabilities, expand internationally, as well as grow its team.

funding roundup

More funding updates

Meanwhile, new insurtech Peachy has received a $1.6million boost. The startup has been under development for three years and is the brainchild of a former NHS surgeon. Its mission is to democratise access to private healthcare.

Shaype, the Australian embedded finance platform, has secured an additional A$33million in new equity investment in a Series C capital raise. The latest funding will accelerate growth, including boosting its team and expanding internationally.

TiPJAR, the cashless tipping platform, is closing its latest funding round six days ahead of schedule after a single angel investor placed £500,000 into the business. It has now raised more than £1.3million on Crowdcube. TipJAR is using the funds to ” help even more staff, across more territories, earn more tips”.

Julaya, a fintech based in Côte d’Ivoire, Senegal and France, has raised $5million extension round led by European venture capital fund Speedinvest to expand its operations in West Africa. Proceeds from the round will help Julaya to expand with offices in Benin, Togo and Burkina Faso, hire multicultural talents and boost product development.

Job moves

Management consulting firm Arthur D. Little has appointed Stephane Ulcakar as its head of corporate and government financial services. Ulcakar will focus on future strategic growth, value creation and driving consistently high performance across the business.

UK fintech Fiinu has made key additions to it executive team as the business pushes ahead with its mobilisation. Charles Resnick joins as chief financial officer from ClearBank. Meanwhile, John Willcock joins from William Hill as chief product officer. Jason Moore is its new programme director, while Darrin Scott Brent has joined as head of technology.

NLGIC Group announces c-suite leadership team following the integration of RSA Middle East. Martin Rueegg, regional CEO of RSA, is appointed group CEO of NLGIC. While S Venkatachalam, CEO of NLGIC, is named regional CEO of health, life and supply chain. Dr Dhafir Awadh Al Shanfari has also been appointed group chief operating officer. Finally, Al Ahlia Insurance, RSA Middle East’s subsidiary in Oman – names Hanaa Fahad Al Hinai, currently deputy CEO for UAE and Bahrain at RSA Middle East, as its CEO.

BNY Mellon has promoted Bana Akkad-Azhari to head of treasury services EMEA. Akkad-Azhari first joined the bank as chief representative for Lebanon in 2006. She will foster strategic growth in the region across payments, liquidity, and trade finance.

Got You Covered Ltd has revealed Lisa Powis will join its executive management team in an advisory role as non-executive director. Powis was previously chief executive of Fresh Insurance Services. Powis will be a vital asset to Got You Covered as the broker marches forward with plans for growth.

Jobs roundup

More job moves

Reassured, the life insurance broker, today has appointed Paul Foody in a move designed to continue the development of its advised arm and expand its product offering. He joins from Neilson Place. Foody follows other recent senior hires at Reassured, including Amanda Curwood, head of advised, and Lucy Brown as corporate relationships manager.

iProov, the biometric verification and authentication technology firm, has unveiled Nicole Rowe as chief marketing officer. Rowe is responsible for overseeing iProov’s brand awareness, go-to-market strategies, global communications programne, demand generation, and revenue team support.

Investment associate Zach Francis has joined YFM Equity Partners (YFM). The firm, which has offices in London, Birmingham, Leeds, Manchester and Reading, is growing its presence across the South.

Feedzai, the riskops platform for financial risk management, appoints former Citrix president and CEO David Henshall to its board of directors. Prior to joining Citrix, Henshall served as chief financial officer of Rational Software Corporation.

FX HedgePool, a peer-to-peer institutional FX matching platform, has announced Karen Phillips as head of business development. Phillips’ hire is part of a broader expansion of FX HedgePool, which recently closed an $8million equity financing round.


  • Claire is an experienced editor and writer with 25 years of experience in the publishing industry. As a tech journalist, Claire has covered every subject possible over the years, from the launch of broadband and next generation mobile networks to the arrival of the metaverse and Web3.

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