Matera, a Sao Paulo based banking software provider, announced a $100 million investment from Warburg Pincus. The investment will be used to fund the company’s expansion into the North American market and further expand product development. Founded in Brazil, Matera is a technology provider of core banking, instant payment, and QR code payment solutions for financial institution with offices in the United States and Brazil, the company’s core offering is a mission-critical suite of modern technology solutions used by more than 250 banks, credit unions and financial institutions globally, including two of the top three banks in the world and…
Author: Fintech News America
Envestnet, a leading provider of integrated technology, intelligent data and wealth solutions, announced that it has entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing the Company at $4.5 billion ($63.15 per share). Reverence Capital also agreed to participate in the transaction. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors have committed to invest in the proposed transaction, and upon its completion they will hold minority positions in the private company. Envestnet manages over $6 trillion in assets, oversees nearly 20 million accounts, and enables more than 109,000 financial advisors…
Nuvei announced a partnership with Mastercard to launch a new off-ramping solution that enables consumers in Europe to seamlessly convert their Digital Assets, including cryptocurrencies, into traditional fiat currency via debit, credit and prepaid cards. This new functionality provides a bridge between digital and traditional finance that can be spent via Mastercard’s global network. This off-ramping solution is integrated directly into Nuvei’s modular payment platform, delivering a simple, secure user experience. The off-ramping process is designed to be rapid and user-friendly. Consumers can seamlessly convert a wide range of supported Digital Assets into fiat currency. They can then transfer the…
Nubank announced the acquisition of Hyperplane, a data intelligence company from Silicon Valley. The partnership will usher in a new era for digital banking platforms, bringing smarter, fairer, and more personalized financial products and services to Nubank’s customers. Hyperplane, launched in 2022 and co-founded by Daniel Silva, Felipe Lamounier, Rohan Ramanath, and Felipe Meneses, has been instrumental in using proprietary foundation models to provide high-quality financial services to millions of individuals. The platform enables financial institutions to train, evaluate, and deploy self-supervised, deep-learning models on first-party data for decision-making. Their platform serves as a central hub, allowing customers to train…
With the release of iOS 18 this fall, Apple is enhancing new services. Updates include U.S. national park hikes and custom walking routes in Apple Maps; the ability to pay with rewards and installments with Apple Pay; new accessibility features in Apple Music; and a redesigned Apple Fitness+ experience to help users make the most of its robust library of workouts and meditations. Greater Flexibility with Apple Pay Apple Pay introduces even more flexibility and choice for users when they check out online and in-app. Users can view and redeem rewards, and access installment loan offerings from eligible credit or…
Clip, a leading digital payments and commerce enablement platform in Mexico, announced that it has secured an investment round of US$100 million from investment funds managed by Morgan Stanley Tactical Value (MSTV) and from one of the largest, most experienced West-Coast mutual fund managers. The investment values Clip in line with the Series D round completed in 2021. Since its inception in 2012, Clip has built a complete portfolio of purpose-built payments, financial services and software solutions for small and mid-sized businesses (SMBs) in Mexico, becoming the country’s largest digital payments and commerce enablement platform by merchants served. Clip currently…
Middle-market fintech and payment companies are gaining significance within the broader fintech mergers and acquisitions (M&A) landscape, attracting attention from private equity (PE) firms for their strong growth potential, stable profits margins, and solid customer bases, a new analyst note by private market data provider PitchBook says. Middle-market fintech firms fall between small, early-stage startups and large, established corporations in terms of size and maturity. These companies target mid-sized businesses or consumers, and often specialize in specific products or services tailored to their target audience. They typically generate moderate revenue and hold moderate market presence compared to larger fintech players…
Robinhood has entered into an agreement to acquire Bitstamp, a global cryptocurrency exchange. Bitstamp was founded in 2011 and has offices in Luxembourg, the UK, Slovenia, Singapore, and the US. Acquiring a global exchange will significantly accelerate Robinhood Crypto’s expansion worldwide. Bitstamp holds over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US and Asia to Robinhood. This acquisition will introduce Robinhood’s first institutional business. Bitstamp has been trusted by its institutional clients for reliable trade execution, deep order books and industry-leading API connectivity. With Bitstamp’s other institutional offerings like white label solution…
Solutions by Text (SBT), an US based platform for compliance-first messaging and payments, announced raising $110 million in new growth financing . Growth equity investment firm Edison Partners co-led the transaction with StepStone Group, a global private markets investment firm. Stifel Venture Bank, a division of Stifel Bank, provided a lending facility. Since Edison Partners’ initial investment in November 2021, both SBT’s bookings and revenue have grown more than 3X through compliant messaging and payment solutions built for consumer finance businesses across origination, servicing, marketing and accounts receivable use cases. In 2023, SBT’s messaging volume increased 95% from the prior…
Aplazo, a Mexican omni-channel payment platform announced today the closing of $70 million of additional equity financing, including a $45 million Series B. QED Investors led the equity financing, which also included participation from new investor Volpe Capital as well as existing investors Oak HC/FT, Kaszek and Picus Capital. Aplazo has now secured more than $100 million in equity financing and $75 million in committed debt funding since launching in late 2020. The financing round comes on the back of a threefold growth in revenue from rapidly expanding market share among online and offline merchants, as well as strong financial…
Latin America (Latam) is emerging as a hotbed for fintech innovation, driven by its young, tech-savvy population and government support for digital financial services. In 2021, the number of fintech platforms in Latam and the Caribbean reached 2,482, soaring 112% from 2018, data from a report by the Inter-American Development Bank (IDB), IDB Invest and Finnovista show, underscoring the region’s increasing reliance on digital financial services. At the same time, government initiatives like Brazil’s Pix and Mexico’s CoDi instant payment systems are further propelling the adoption of digital transactions and highlighting efforts by Latam governmental bodies to modernize their financial…
Securitize, a leader in tokenizing real-world assets announced last week the successful completion of a $47 million funding round led by BlackRock. The strategic investment also includes funding from Hamilton Lane, ParaFi Capital, and Tradeweb Markets. This investment underscores Securitize’s industry pioneering efforts in digitizing capital markets with blockchain technology. The contributed capital will fuel Securitize’s continued innovation and expansion as it further solidifies its position as a leader in the digital asset securities ecosystem. As part of the investment, Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize’s Board of Directors. “We are thrilled…
BioCatch, a digital fraud detection solution provider, announced that Permira Growth Opportunities II, a fund managed by global private equity firm Permira, will acquire a majority stake in the company. Financial terms of the deal was not disclosed. This agreement also sees increased investments from existing shareholders Sapphire Ventures and Macquarie Capital, aiming to bolster BioCatch’s global presence and product development. The transaction, which involves Permira buying out major shares from Bain Capital Tech Opportunities and Maverick Ventures, values BioCatch at approximately US$1.3 billion. This change comes as BioCatch continues to evolve its capabilities in fraud prevention, having extended its…
ComplyAdvantage, a leader in financial crime intelligence, announced its acquisition of Golden. Golden is a San Francisco-based innovator automating the construction of one of the world’s largest knowledge graphs, which shows interconnected data points and their relationships for the purpose of analyzing complex information. Financial institutions and other regulated entities are required by law to ensure the people and organizations they choose to do business with are legitimate and that the transactions they facilitate are legal. ComplyAdvantage uses AI and machine learning to parse through a continuously updated database of entities to give clients the most accurate 360-degree view of…
PayPal Ventures, the investment arm of the online payment firm, plans to increase its investment activity to keep up with technological advancements, seeking investment opportunities in fields such as artificial intelligence (AI), cybersecurity, employee benefits and stablecoins, James Loftus, managing partner at PayPal Ventures, told Global Venturing in an interview. Discussing PayPal Ventures’ strategies and investment focuses for the years to come, Loftus said the fund will be shifting towards placing more emphasis on early-stage ventures, especially in Series A rounds. This move aims to gain valuable insights and strategic advantages early on. Investing in early-stage startups allows PayPal Ventures to…
Betterment, the largest independent digital investment advisor in the United States, announced that it has reached an agreement with Goldman Sachs to acquire Marcus Invest’s digital investing accounts. Marcus Invest, which offers digitally customized investment portfolios to consumers, will transfer these accounts to Betterment in the coming months. Betterment pioneered digital investing more than a decade ago, and today serves more than 850,000 customers and manages more than $45 billion in assets. Betterment’s diversified, expert-built portfolios, commitment to service excellence, and easy-to-use technology make it a natural fit for Marcus Invest customers as they continue to build towards their financial…
Andreessen Horowitz announced that they have just raised $7.2B for the following venture strategies: American Dynamism ($600M), Apps ($1B), Games ($600M), Infrastructure ($1.25B), and Growth ($3.75B). When Ben Horrowitz and Marc Andreessen started the firm in 2009, the conventional wisdom in Venture Capital was that in any given year, only 15 companies would ever generate $100M in revenue and those 15 companies would drive almost all of VC returns. At that time, the conventional wisdom was right. Venture Capital firms configured themselves to address a market of 15 important companies. This meant relatively small fund sizes and a small number…
BlackRock unveils its first tokenized fund issued on a public blockchain, the BlackRock USD Institutional Digital Liquidity Fund (“BUIDL”) BUIDL will provide qualified investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC. “This is the latest progression of our digital assets strategy,” said Robert Mitchnick, BlackRock’s Head of Digital Assets. “We are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize.” Tokenization remains a key focus of BlackRock’s digital asset strategy. Through the tokenization of…
North America is a dynamic fintech hub, with major centers located in New York, San Francisco and Toronto. The region excels in areas like digital payments, digital assets, and robo-advisory services. These sectors have propelled the region’s prominence in the fintech sector. Projections by German statistic portal Statista indicate substantial growth in North America’s digital assets market, forecasted to surpass US$41 billion in assets under management (AUM) by year-end. Anticipated revenue expansion of 17.99% is expected in 2025. Likewise, the digital payments sector is on an upward trajectory, with a total transaction value forecasted to hit US$3.36 trillion by the…
SAP announced a new composable payment solution to help retailers stay ahead of changing customer expectations. The new solution, SAP Commerce Cloud, open payment framework, helps retailers become more agile as new payment options – such as buy now, pay later – gain popularity. The framework integrates SAP Commerce Cloud with numerous third-party payment service providers (PSPs), including Stripe, Adyen, Worldpay and Airwallex, based on their specific use case. Additionally, SAP’s composable architecture allows retailers to pick payment partners tailored to their unique needs and international markets, enabling them to build at their own pace, scale their business faster and…