Author: Fintech News America

DocuSign, a US-based e-signature technology provider, has introduced DocuSign Ventures, which will co-invest in as well as partner with companies raising early stage funding to innovate around the agreement process. By staying close to and working with innovative startups, DocuSign can help its customers identify and integrate new solutions. This includes technologies that facilitate pre-agreement work and negotiation, in addition to the logistics and workflows that may result after an agreement is signed. DocuSign Ventures said that it is interested in a diverse range of innovative technologies being used to transform how agreements are created, executed, and managed. This includes…

OSL, a SFC-licensed digital asset platform and member of BC Technology Group, announced that it has expanded access to its crypto trading platform to professional and institutional customers in Latin America, with zero trading fees until the end of the year. OSL Exchange provides clients with access to a global liquidity pool that is powered by a matching engine as well as offer connectivity via a rich API suite and professional user interface, allowing clients to tap into deep pools of liquidity. OSL said in a statement that it has established a strong track record in the region. Since the…

A number of US lawmakers jointly issued a statement saying that Facebook cannot be trusted to manage cryptocurrency and has urged Mark Zuckerberg to stop the launch of Novi and Diem immediately. Facebook had just announced the pilot launch of Novi, the new name and brand for the digital wallet that will help people send and hold Libra digital currencies, in Guatemala and the US except for Alaska, Nevada, New York and the US Virgin Islands. The pilot version of Novi will only be available to a limited number of people and others may be placed on a waitlist when…

Tala, a Californian digital financial services provider in emerging markets, announced that it has secured a US$145 million Series E fundraise led by Upstart with participation from the Stellar Development Foundation. New investors Kindred Ventures and the J. Safra Group also joined, along with existing investors IVP, Revolution Growth, PayPal Ventures, and Lowercase Capital, to bring Tala’s total funding to more than US$350 million. Tala said that it use this investment to provide those services and accelerate the rollout of its new financial account experience. The company will also work to develop mass-market crypto products for emerging markets to help make…

Reworth, a Mexico-based startup that offers API solutions so financial institutions can offer cash back to their clients, announced the closing of a US$2.8 million seed funding round. This round was led by ALLVP, with participation from New York-based FJ Labs, San Francisco-based Soma Capital and New York based Gilgamesh which focuses its investments on fintechs in the Americas. This round brings Reworth’s total raised to date to about US$3.2 million. Reworth, which already has 20 full-time employees, plans to use the money to expand its tech team so they can offer same-day API integration as well as on board…

SumUp, a London-based global payments service provider, announced the acquisition of Fivestars, America’s commerce network that combines a marketing platform with integrated payments, for US$317 million in a mix of cash and stock. The acquisition will enable both companies to offer essential payments and marketing automation services to small business owners across the U.S. and globally. Fivestars’ San-Francisco-based team, including its CEO and co-founder, Victor Ho, will remain in their roles and continue to operate the firm. The deal is SumUp’s first acquisition in the U.S. and will provide the company with access to the more than 70 million consumer…

Halo Investing, a Chicago-based multi-issuer technology platform for protective investment solutions, announced that it has raised over US$ 100 million in Series C funding. The latest fundraising round was led by Owl Capital and included the Mubadala-backed US$ 1 billion fund managed by Abu Dhabi Catalyst Partners, in addition to existing investors Allianz Life Ventures and William Blair. As a result of Abu Dhabi Catalyst Partners’ investment, Halo will open an office at Abu Dhabi Global Market (ADGM) to drive the growth of its international footprint in the protective investing landscape. Halo, which has raised US$ 120 million to date,…

Alviere, a New York-based embedded finance platform offering single-integration plug and play software services, announced that it had raised US$70 million of new funding. This latest round includes the participation of existing investors Viola Ventures, Viola Fintech and CommerzVentures, as well as Cleveland-based, North Coast Ventures. Other participants in the round include Opera Tech Ventures and the VC arm of BNP Paribas. This capital will be used to accelerate Alviere’s go-to-market plans as well as expand beyond North America to Europe and Latin America. In April, Alviere closed a US$20 million Series A led by Viola Ventures and Viola Fintech,…

Deputy Attorney General of the United States Lisa O. Monaco announced the creation of a National Cryptocurrency Enforcement Team (NCET). The team aims to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors. Under the supervision of Assistant Attorney General Kenneth A. Polite Jr., the NCET will combine the expertise of the Department of Justice Criminal Division’s Money Laundering and Asset Recovery Section (MLARS), Computer Crime and Intellectual Property Section (CCIPS) and other sections in the division, with experts detailed from U.S. Attorneys’…

New York-based robo advisor Betterment announced that it has secured US$160 million during a Series F equity round, pushing the company’s valuation to nearly US$1.3 billion. The growth capital raised comprises a US$60 million equity round and a US$100 million credit facility. The round was led by Treasury, with participation from existing investors, including Kinnevik, Bessemer Venture Partners, Francisco Partners, Menlo Ventures, Anthemis Group, Globespan Capital Partners, Citi Ventures, and The Private Shares Fund, as well as new investors Aflac Ventures and ID8 Investments. The US$100 million credit facility was established with ORIX Corporation USA’s Growth Capital group and Runway…

US-based insurtech Sure announced that it has raised US$100 million during a Series C funding round which values it at US$550 million. The fundraise was co-led by Declaration Partners LP and Kinnevik AB with participation from WndrCo, FTAC Ventures, Expanding Capital, and existing investors W. R. Berkley Corporation and Menlo Ventures. Sure that that it will be using the funds to expand its team, accelerate advancements in embedded insurance, and scale the business in international markets to further improve the digital insurance experience. The startup had previously secured US$23.1 million during a Series B funding round last year in June.…

Latin America (Latam)’s fintech industry is booming, fueled by the region’s large population of unbanked, rising demand for online banking tools and a surge in venture capital (VC) investment into the region. In 2016, Latam financial services companies secured just US$300 million in investment, according to Crunchbase data, a number that soared to US$1.5 billion in 2019, and to US$2 billion 2020. And that growth in VC financing continued this year, as adoption of digital tools increased during COVID-19. A research released in October 2020 by Americas Market Intelligence in partnership with Mastercard found that over 40 million people in…

Mastercard announced that it is set to introduce a new Buy Now, Pay Later (BNPL) offering, Mastercard Installments for its customers in the United States, Australia and the UK. The programme gives consumers a flexible, ubiquitous way to pay online and in-store through equal, interest-free installments – an additional choice to debit, credit or prepaid cards. Mastercard Installments enables banks, lenders, fintechs and wallets the ability to offer BNPL experiences at merchants with flexibility across the entire acceptance network. Additionally, the seamless integration into Mastercard’s trusted network enables merchants to quickly offer secure BNPL solutions. Mastercard Installments also offers comprehensive consumer…

Middle East and Asia-based API infrastructure company M2P Solutions announced a strategic partnership with Canadian payment solutions provider Buckzy Payments to provide cross-border payments in the MENA region. The company’s MENA-based partners will be able to use M2P’s platform to make cross-border payments to North America, Latin America and Europe through Buckzy’s ecosystem. The service is open to GCC countries, including the UAE, Saudi Arabia, Bahrain, Kuwait and Oman. Banks, exchange houses and money transfer operators in these countries will now be able to extend their services to underserved payment corridors, a statement from M2P said. GCC cross-border payments hold…

PayPal has rolled out its “super app” which is touted to be an all-in-one, personalised app that offers customers the best place to manage their financial lives. The new PayPal app will introduce new features including PayPal Savings, a new high yield savings account provided by Synchrony Bank, alongside new in-app shopping tools that will enable customers to earn rewards redeemable for cash back or PayPal shopping credit and uncover deals with hundreds of merchants. Additionally, the new app offers PayPal customers a single place to manage their bill payments, Users can also get paid up to two days earlier…

Zurich Insurance Group announced a global collaboration with Toronto-based insurtech BOXX Insurance (BOXX), which provides fully-integrated cybersecurity and insurance solutions for small-to-medium-sized businesses (SMEs), consumers and families. Technology has brought significant benefits to businesses and individuals – improving lifestyles and connecting people wherever they are in the world. However, the increased adoption of digital business models has also led to growing cyber risks resulting in cyber-attacks, business disruption, loss of revenue and regulatory action on data protection. Additionally, Zurich will also participate in BOXX’s Series A funding round to build a presence in the cyber SMEs and consumer space. “We…

Feedzai, an American cloud-based financial risk management platform, and Berlin-based Banking-as-a-Service (BaaS) platform Solarisbank announced a multi-year partnership at Money20/20 Europe. With this new partnership, Solarisbank is leveraging Feedzai’s proprietary technology which enables them to apply an effective risk management which is in line with respective law requirements. The companies have joined forces to combine BaaS with the risk management and security that is expected from financial institutions, while preserving the customer experience. The flexibility of Feedzai’s risk management solution means they can scale as Solarisbank grows, helping the company to keep up with a regulatory and geo-political landscape that is…

Entrust, an American digital security and credential issuance solutions provider, announced that it has signed a deal to acquire Antelop Solutions, a Paris-based fintech that enables financial institutions to issue secure digital credit and debit cards to their customers. This move looks to combine Antelop’s solutions with Entrust’s card issuance portfolio. Antelop Solutions has about 30 employees who will join Entrust with the acquisition, including founder and CEO Nicolas Bruley. He will continue to lead this team to advance digital financial credential solutions at Entrust. The acquisition is expected to close in the next several weeks. Entrust’s solutions help banks…

Blockchain infrastructure platform Blockdaemon announced that it has closed a Series B funding round of US$155 million with a valuation of US$1.255 billion. The round was led by SoftBank Vision Fund 2, with participation from Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital. Existing investors Boldstart Ventures, Goldman Sachs, Greenspring Associates, CoinFund, Kenetic, Kraken Ventures, Borderless Capital, and Lerer Hippeau increased their investments as part of the B round. This news follows the company’s Series A Round in June 2021 of US$28 million, as well as previous strategic investments, bringing the total to just under US$190 million. The latest…

American cryptocurrency exchange platform Coinbase announced that it has committed to invest US$500 million of its cash and cash equivalents into a diverse portfolio of crypto assets. Coinbase added that going forward, it will also allocate 10% of quarterly net income into this same portfolio. According to a statement by the firm, this move will make it the first publicly traded company to hold Ethereum, Proof of Stake assets, DeFi tokens, and many other crypto assets supported for trading on its platform, in addition to Bitcoin, on its balance sheet. Coinbase’s crypto asset investment allocation will be driven by its…