Cardo AI, a leading next-generation asset-based finance and private credit technology platform, has raised $15 million in its Series A funding round. The investment was co-led by Blackstone Innovations Investments, Blackstone’s early-stage strategic investment arm, FINTOP Capital, and JAM FINTOP. The round also saw participation from Andy Horwitz and Kevin MacDonald, the co-founders of Black […]
In a pivotal move for the financial technology sector, Nuvei Corporation has completed its transition to a privately held company following an all-cash acquisition by private equity firm Advent International. The deal, which valued Nuvei at approximately $6.3 billion, reflects broader trends in the fintech industry as companies recalibrate strategies amid economic uncertainties and increased […]
In a remarkable stride for Canadian fintech, Neo Financial has closed a CAD $360 million Series D funding round, one of the largest in the global fintech sector this year. The round, comprising CAD $110 million in equity and CAD $250 million in debt, features a star-studded roster of Canadian tech leaders, including Tobi Lütke, […]
In a remarkable display of market momentum, SoFi Technologies Inc. has witnessed its stock price surge beyond the $14 threshold, marking its most significant five-day rally in over a year. This upward trajectory underscores growing investor confidence in the company’s strategic initiatives and financial health. Robust financial performance fuels investor optimism SoFi Technologies Inc.’s recent […]
Intellect Design Arena Limited’s transaction banking division, Intellect Global Transaction Banking (iGTB), has introduced a pioneering platform known as eMACH.ai Cloud for Wholesale Banking. This platform aims to reshape the wholesale banking sector with an innovative suite of integrated services. The announcement, made on October 10, 2024, in Dubai, represents a critical advancement in financial […]
Infosys, a global IT services and consulting company, has announced a significant partnership with the Life Insurance Corporation of India (LIC), India’s largest life insurer, to lead a comprehensive digital transformation initiative. This strategic collaboration aims to develop a state-of-the-art digital platform under LIC’s DIVE (Digital Innovation and Value Enhancement) program, intended to modernize LIC’s […]
Lithic, a prominent card issuing and payments platform, has announced its expansion into the Canadian market with the introduction of multicurrency processing capabilities. This marks Lithic’s first move outside of the United States and signals a significant step toward establishing a broader international footprint. With this expansion, Lithic aims to provide Canadian businesses and fintech […]
Welsh, Carson, Anderson & Stowe (WCAS), a prominent private equity firm specializing in information and business services, has successfully completed its acquisition of EquiLend, a leading global provider of technology and services for the securities finance industry. The transaction, initially announced in January 2024, received all necessary regulatory approvals from authorities in the United States, […]
Ingo Payments, a leader in digital account funding and disbursements, recently acquired Deposits Inc., a Dallas-based provider of modern banking software infrastructure. This acquisition is a significant step toward revolutionizing money mobility for banks, corporates, and fintech companies. With the integration of Deposits Inc.’s cutting-edge technology, Ingo Payments has introduced its new Modern Money Stack—a […]
Trustly, a global leader in Open Banking Payments, has entered into a strategic partnership with Newline by Fifth Third Bank to innovate and expand payment capabilities across the U.S. financial landscape. This collaboration marks a significant step toward reshaping digital payments by combining advanced technology solutions to streamline transactions and improve the user experience for […]