The Fintech Times Bi-Weekly News Roundup on Thursday 23 November 2023.
Funding and investments
Crezco, a London-based fintech company that uses open banking to make B2B invoice payments, has secured $12million in Series A funding from MMC Ventures and 13Books Capital. Additionally, it has also unveiled a partnership with Xero. The cloud-based accounting platform has integrated Crezco’s technology to offer on-platform bill payments using open banking to its UK-based subscribers.
Raha, a Kuwaiti fast-growing logistics tech company, has completed a pre-Series A funding round. Led by Soor Capital and eWTP Arabia Capital, this latest investment brings up the total raised to $14million. he company’s first project in the Kuwaiti market was ShopRaha; a fully automated e-grocery platform. Raha has utilised its recent funding to broaden its industry presence, particularly in the KSA and UAE markets.
Appointments
NFON, a European provider of integrated cloud business communications, hires Andreas Wesselmann as its new chief technology officer. Most recently, he was senior vice president, SAP HANA database and analytics. As well as the role of CTO, at the start of the year Wesselmann will also become NFON’s second management board member alongside CEO Patrik Heider.
Moneyhub, a global fintech startup, has named Nick Middleton as a strategic account director within its partnerships division. He has worked on change programmes for a number of major financial institutions including Lloyds, Nationwide, TSB and Virgin Money. He was most recently account director at payment technology platform Form 3.
Rob Stanton is promoted to sales and distribution director of buy-to-let lender Landbay. Previously, he was Landbay’s business development director after joining as a regional account manager in 2018. Stanton leads Landbay’s national accounts across all distribution channels, including networks, mortgage clubs and packages. At same time, Paul Brett, managing director of intermediaries, leaves the business to set up a coaching and consulting business.
Unity Trust Bank has appointed Dawn Morris to the new role of deposits relationship manager for the North and Scotland to help develop the bank’s growing customer portfolio. She will work with new and existing day-to-day banking customers to better understand their individual needs and support them with their liquidity and investment requirements.
OMMAX, a digital transformation and transaction services consultancy, unveils Sinan Erhan as partner. This appointment represents OMMAX’s fifth partner-level appointment of 2023. Promotions for Isabella Calderon Hoyos, Lisa Marsfeld, Max Kneissl and Tatiana Griebel brings the total number of partners to 13.
Company updates
Cashfree Payments, the Indian payments and API banking company, launches ‘KYC Link’ – a no-code verification solution for Indian businesses. The solution enables businesses to adopt KYC solutions on day zero, accelerating revenue generation from newly onboarded users.
Partnerships
Coincover, the blockchain protection company, has joined forces with Utila, the crypto operations platform. This strategic partnership brings together Coincover’s protection solutions and Utila’s non-custodial wallet infrastructure. The collaboration offers a new MPC (multi-party computation) solution that aims to simplify institutional access to crypto.
Zoho, a global technology company and Middle Eastern payment gateway Telr partner to help SMEs in MENA with digital transformation. As part of the recently signed MoU, Zoho will provide Telr customers access to its diverse portfolio of 55-plus applications at a special rate. This enables them to move all their business operations – from sales and marketing to finance and HR – to the cloud.
DP World Trade Finance forges a partnership with UAE Trade Connect (UTC), marking a significant milestone in UTC’s mission to transform trade finance and combat fraud across the UAE. As part of collaboration, DP World Trade Finance can leverage UTCs platform to detect fraudulent and suspicious invoice as a risk mitigant for its lending capability.
Meanwhile, Manchester tech business Zally has teamed up with fintech PR company SkyParlour as part of its plans to scale operations through 2024. Zally joins SkyParlour’s ‘Started’ division, a PR and marketing programme designed for technology startups. SkyParlour will support Zally as it officially enters the market and begins to provide cybersecurity solutions.
Additional partnerships
Fintech BKN301 has signed a partnership with CWallet, a fintech startup with payment service provider (PSP) licensed from Qatar Central Bank. BKN301 provides CWallet with a platform to improve the customer experience, increase security as well as respond to the everchanging needs of people.
Endava, a provider of digital transformation, announces a new partnership with financial API platform, Salt Edge. Endava says Salt Edge’s flexible and timely solutions align with its agile delivery, enabling customers to innovate quickly and effectively.
There’s also a partnership for fintech Ebury and PSV Eindhoven, the international Dutch football club. Ebury is now the exclusive fintech partner of the club, supporting it with international payments and cash management. This collaboration aims to extend Ebury’s network in the Brainport technology region. The innovative business community in the southern part of the Netherlands has been gathering at PSV Business.
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