Stash, a New York-based personal finance platform that helps individuals manage their savings and investments, has raised US$146 million in an oversubscribed Series H funding round led by Goodwater Capital. Other participants included existing investors Union Square Ventures, StepStone Group, Serengeti, and the University of Illinois Foundation, along with funds and accounts advised by T. Rowe Price Investment Management, Inc. The funding will be used to further develop Stash’s AI capabilities and expand its financial guidance tools. Co-founders and co-chief executives Brandon Krieg and Ed Robinson, who recently returned to lead the company, have overseen Stash’s transition to profitability and…

OpenAI and Microsoft are renegotiating the terms of their multibillion dollar partnership in a move aimed at enabling the ChatGPT developer to pursue a future public offering, while safeguarding the software giant’s access to advanced artificial intelligence models, the Financial Times reported. A key issue under discussion is the amount of equity Microsoft will hold in OpenAI’s new for profit entity, in return for the more than US$13 billion it has invested so far, according to the report. Microsoft is reportedly willing to relinquish some of its equity stake in exchange for continued access to new technology developed beyond the…

In 2019, Meta unveiled an ambitious plan, a new cryptocurrency designed for use across Facebook, WhatsApp and a range of other digital platforms. However, the tech giant ultimately shelved the project in the face of strong opposition from Congress and other lawmakers. Now, Meta appears to be cautiously re-entering the cryptocurrency space. According to Fortune, which cited five sources familiar with the matter, the company is in early discussions with cryptocurrency firms about introducing stablecoins as a way to manage payouts. Meta has also brought on board a new vice president of product with crypto expertise to help guide these…

Global digital transformation firm GFT is expanding its Compliance Suite to strengthen fraud prevention efforts in Canadian credit unions, enabling them to meet regulatory requirements more effectively. Already in use in other regions where GFT operates, the Compliance Suite integrates artificial intelligence to help institutions identify, escalate, and address threats such as identity theft and unauthorised payments. By reducing the need for manual intervention and automating core security processes, credit unions can detect suspicious transactions more quickly, aligning with Canadian regulatory expectations and safeguarding the significant assets entrusted to them. As cyber threats become increasingly sophisticated, credit unions are facing…

Samsung has announced that, starting later in May, a new Tap to Transfer feature will be introduced to Samsung Wallet, enabling peer to peer (P2P) payments in the US. The feature is intended to streamline everyday money transfers, such as reimbursing a friend for group tickets or splitting a meal bill. Payments are processed within minutes, eliminating the need to wait for traditional bank transfers. Transfers can be initiated simply by tapping. In partnership with Visa and Mastercard, the feature allows users to send money using a debit card saved in Samsung Wallet. Recipients do not need to install a…

Coinbase has entered into an agreement to acquire Deribit, a crypto options exchange. This acquisition, valued at approximately US$2.9 billion, comprises US$700 million in cash and 11 million shares of Coinbase Class A common stock, subject to customary adjustments. The acquisition of Deribit, which currently holds around US$30 billion in open interest, strengthens Coinbase’s position in the global crypto derivatives market. By integrating Deribit’s advanced options platform with its own rapidly expanding US futures and international perpetual futures offerings, Coinbase aims to provide a more comprehensive suite of products for institutional and advanced traders. “We’re excited to join forces with…

Cryptocurrency-related fraud continues to surge in the US, fueled by the rapid proliferation of fake investment schemes, extortion attempts, and increasingly sophisticated scams involving crypto ATMs and QR codes. Newly released data from the Internet Crime Complaint Center (IC3) of the US Federal Bureau of Investigation (FBI) show that 2024 was a record-breaking year for crypto crime. The agency received 149,686 complaints linked to crypto-related fraud, representing a staggering 115% year-over-year (YoY) increase. These cases totaled an unprecedented US$9.3 billion in losses, up 66% YoY. Investment scams dominate crypto crime Investment fraud remained the most lucrative category, accounting for US$5.8…

Stripe has announced a range of new products aimed at helping businesses leverage AI and stablecoins to support their growth. The company, which processed US$1.4 trillion in payments in 2024, a 38% increase from the previous year, introduced these updates at its annual user event, Sessions. The firm launched what it claims is the world’s first AI foundation model for payments, trained on tens of billions of transactions to enhance payment performance and fraud prevention. Stripe says the model has already improved detection of sophisticated card testing attacks by 64% compared to its previous systems. Stripe also introduced stablecoin-powered financial…

The US Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1184, providing further clarity on the scope of permissible activities national banks and federal savings associations may engage in with regard to crypto-asset custody and execution services. The letter confirms that banks may buy and sell assets held in custody at the direction of their customers and may engage third parties to perform bank-permissible crypto-asset activities, including custody and execution services, subject to sound third-party risk management practices. These activities align with the authorities previously outlined in OCC Interpretive Letters 1170 and 1183. As with any banking…

BigCommerce, a Texas-based provider of commerce solutions, has announced a partnership with Klarna, a Sweden-based AI-driven payments and commerce network, to offer enhanced payment options to its merchants worldwide. Through the collaboration, Klarna’s interest-free payment solutions will now be available to BigCommerce merchants, helping to optimise the shopping experience, improve customer retention, and support business growth via a single integration. BigCommerce is an open SaaS and composable e-commerce platform that caters to businesses of all sizes, offering professional-grade functionality, personalisation, and performance. The platform supports both B2B and B2C companies in over 150 countries, providing seamless integrations to scale online…

Corpay, an Atlanta-based corporate payments company, has announced that it has entered into a definitive agreement to acquire a minority stake in AvidXchange as part of a transaction to take AvidXchange private. The deal is being carried out in partnership with global investment firm TPG, and values AvidXchange at approximately US$2.2 billion. Under the terms, shareholders will receive US$10.00 per share in cash. Corpay will invest around US$500 million to obtain a 33 percent equity interest in AvidXchange. The transaction is expected to close in the fourth quarter of 2025, pending shareholder and regulatory approval as well as customary closing…

Fiserv, a Wisconsin-based provider of payments and financial services technology, has appointed Michael P. Lyons as its new Chief Executive Officer. Lyons takes on the role following the confirmation of Frank Bisignano, the company’s former CEO, as Commissioner of the Social Security Administration. He will also join the Fiserv Board of Directors. Commenting on his appointment, Lyons said: “For more than 40 years, Fiserv has been a transformative force in financial technology driven by innovation and deep commitment to delivering best-in-class technology, value-added advice and service to our clients. I am proud to lead an organisation that provides exceptional solutions…

Provenir, a New Jersey-based provider of AI-driven risk decisioning software, has announced that UK’s Atom bank has chosen its AI Decisioning Platform to support improvements in credit risk decisioning and data orchestration. Launched in April 2016, Atom bank is the UK’s first app-based bank, offering mortgages and savings products through its mobile platform. It also provides secured business lending for SMEs. By adopting Provenir’s platform, Atom bank aims to streamline how it handles credit, fraud, and identity data across several products, including residential mortgages, secured business lending, consumer savings, and buy-to-let mortgages. Mark Collingwood, Vice President of Sales for Europe…

Dream Payments, a Toronto-based fintech company, has introduced Interac e-Transfer payouts on its embedded payments platform, DreamPay. This new capability enables real-time disbursements for participating banks, insurers, enterprises and SaaS platforms across Canada. The Interac e-Transfer feature allows organisations to send payments directly to individuals or businesses using only an email address or mobile phone number, without the need to collect sensitive banking information. DreamPay now supports Interac e-Transfer alongside electronic funds transfer (EFT), virtual cards and cheques. The platform integrates with existing treasury, ERP and claims systems without requiring infrastructure changes. “Dream’s clients and partners, whether they are banks,…

Qenta, a Texas-based payments company, has announced its acquisition of Pipit Global, an Ireland-based business-to-business cross-border payments platform. With this acquisition, Qenta gains access to Pipit’s network of over one million pay-in points and its established integrations with mobile money systems across Africa, Latin America, and Europe. Pipit’s Co-Founder, Ollie Walsh, has been appointed President of Qenta and will oversee the platform’s expansion efforts. The integration of Pipit’s infrastructure is expected to support Qenta’s goal of improving access to cash, mobile money, and regulated digital payments on a global scale. Qenta serves remittance networks and migrant communities by enabling transactions…

Persona, a California-based verified identity platform, has raised US$200 million in a Series D funding round co-led by Founders Fund and Ribbit Capital, bringing its valuation to US$2 billion. Founded in 2018 by Rick Song, Persona offers identity infrastructure that helps businesses, from social platforms and travel companies to financial institutions, automate identity-related tasks, streamline onboarding, and combat money laundering. The latest round also saw participation from existing investors BOND, Coatue, Chemistry, First Round Capital, and Index Ventures. It follows Persona’s US$150 million Series C in 2021, which valued the company at US$1.5 billion. Persona says it has doubled its…

Credicuotas, an Argentine fintech specialising in consumer lending and a member of the BIND Group, has completed its twelfth corporate bond issuance, raising US$33 million. The placement comes during a period of strong growth in Argentina’s credit market, which recorded a 53 percent year-on-year increase in 2024, the largest in the past thirty years. The bond received an A1(arg) rating from FIX Rating and was authorised by Argentina’s National Securities Commission, where Credicuotas is registered under the Public Offering Regime. The transaction was led by BIND Financial Solutions and BIND Inversiones, with support from a syndicate of placement agents including…

Intuit, a financial software company headquartered in Mountain View, California, has acquired the mobile-first technology platform developed by Deserve, a fintech firm based in Palo Alto, California. The financial terms of the transaction, which was finalised on 18 April, were not disclosed. Following the acquisition, Deserve’s Palo Alto-based employees have joined Intuit’s team in Mountain View, while its staff in Pune, India, will continue working from their existing location. According to Intuit, the acquisition aligns with its strategy to build a connected business platform that enables customers to manage and grow their businesses in one place. “With Deserve’s technology we’re…

Mastercard and Corpay, an Atlanta-based global payments and currency risk management company, have announced an expanded partnership aimed at improving the range of corporate cross border payment solutions available to financial institutions. Through this agreement, Mastercard’s banking partners and their clients will gain simplified access to a broader range of end to end cross border payment options. These include both card-based and non-card-based solutions, suitable for transactions of all sizes. As part of the deal, Mastercard will acquire a minority stake in Corpay’s cross border business, investing US$300 million for around a three percent equity share. This values the business…

Mastercard has launched Agent Pay, a new program designed to integrate payments into AI-driven commerce experiences. The initiative aims to enable secure, seamless transactions through generative AI agents across consumer and business platforms. The company said Agent Pay introduces “agentic tokens,” which expand on its existing tokenisation technology used in contactless payments, card-on-file solutions, and digital credentials like Mastercard Payment Passkeys. These tokens are intended to help AI agents complete transactions securely on behalf of users while maintaining transparency and user control. Mastercard will work with Microsoft to explore new use cases using Microsoft’s AI technologies, including Azure OpenAI Service…