Marketplace Lending

Pine Labs banks $285m at $3bn valuation to scale its merchant commerce platform

India-based FinTech unicorn Pine Labs raised $285m in a new round of funding which valued the firm at $3bn.

Atom Bank continues upward trajectory with passing of two key milestones

UK challenger Atom Bank has achieved two substantial milestones after it exceeded £3bn of residential mortgage completion and reached £1bn in Instant Saver account deposits.

Financial comparison super app Jeff banks $1.5m seed extension for SEA expansion

Latvia-based FinTech startup Jeff, which currently only has operations in Vietnam, has raised $1.5m in a seed round extension led by J12 Ventures.

Fronted launches lifetime deposit for renters

London-based Fronted, a startup aiming to make life easier for renters, has raised over £20m in seed financing, led by Fasanara Capital. Fronted will use...

Meet Gaia, the platform de-risking IVF fertility treatment

Gaia, a startup platform that provides insurance payment plans to finance IVF treatments, has closed a $20m Series A round led by London’s Atomico.

Citi backs Crowdz for SME financing

SME finance platform Crowdz has secured $10m in investment, led by Citi and Global Cleantech Capital, to expand its ability to bring accessible working capital to small businesses.

TurnKey Lender closes $10m funding round

B2B software-as-a-service company TurnKey Lender has closed a funding round on $10m.
Indian-B2B-marketplace-Udaan-Raises-$120m

Indian B2B marketplace Udaan scores $120m

Udaan, a B2B marketplace with a vision to "transform the way trade is done in India leveraging technology", has raised $120m as it eyes going public.
Anyfin secures €30m to help people refinance existing loans

Anyfin secures €30m to help people refinance existing loans

Anyfin, which helps consumers refinance existing loans, has raised €30m for its Series C funding round.
Real estate finance software developer Built Technologies gets Citi backing

Real estate finance software developer Built Technologies gets Citi backing

Built Technologies, a provider of construction and real estate finance technology, has received strategic funding from Citi.
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National Bank of Iraq empowers digital transformation with Temenos’ core banking system

National Bank of Iraq empowers digital transformation with Temenos’ core banking system

National Bank of Iraq (NBI), a significant component of the Capital Bank Group, has partnered with Temenos, a Swiss-based software company that specializes in banking and finance software, serving a global clientele with innovative FinTech solutions.
Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”

Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK

Flutterwave, Africa’s leading payments technology company, and Acquired.com, a specialist in payment processing, have entered into a strategic partnership.
Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Sublime Security, an AI-powered, programmable email security platform, has successfully raised $20m in a Series A funding round.
Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Qohash, a leader in data security software, today announced it has secured $17.4m in Series B funding.
Northern Arc secures $80m boost from IFC, enhancing financial inclusion in India

Northern Arc secures $80m boost from IFC, enhancing financial inclusion in India

Northern Arc, a diversified non-banking financial company (NBFC), proudly announces securing an investment of $80m from the International Finance Corporation (IFC), a member of the World Bank Group.
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