Solv, a trusted B2B digital marketplace for Micro, Small and Medium Enterprises (MSMEs), raised US$40 million in Series A funding led by marquee investor, SBI Holdings, with participation from SC Ventures, Standard Chartered Bank's innovation, fintech investment and ventures arm. SC Ventures has played a leading role in building and incubating the Solv franchise.

German BaaS provider Raisin Bank is entering the payments industry after agreeing to acquire a Bankhaus August Lenz division. No financial details were given. 

By acquiring the payments business of the German private Bank, Raisin will be able to offer electronic payment transactions and cash solutions to its partners and their clients. 

Pay Later, Revolut's "responsible instalments payment option," will launch this week in Ireland. 

Pay Later will be the first BNPL product in Ireland with an approved credit limit and affordability. Customers won't be limited to select merchant agreements while using Pay Later. In Ireland, where Pay Later will launch first, 1.9 million adults hold a Revolut account. The challenger bank will sell the product in Poland and Romania by 2022. 

New business finance solution aims to alleviate growing demand for working capital in the UK

LONDON, JUNE 2022:

Cion Digital, developers of the first enterprise SaaS blockchain orchestration platform, announced today the appointment of senior executive Sundar Nagarathnam as Chief Operating Officer (COO). Sundar will play a dynamic role in accelerating execution and innovation as the company executes on its growth and expansion goals. 

According to data from the global investment trading platform, Capital.com, 38% of trades placed by its clients so far this quarter are short, which is 15% higher compared to the same period last year.

Applying emerging quantum technology to challenges across the financial services industry is viewed by many to be hugely advantageous for first movers. From being able to effectively analyse large or unstructured data sets, to having the technological power to react faster to market volatility, or being able to rapidly anticipate customer behaviours to deliver personalised products, tapping into the power of quantum technology is anticipated to be transformative.  

Sumsub, a tech company that offers an all-in-one technical and legal toolkit to cover KYC/KYB and AML needs, has become the first regulated Compliance-as-a-Service provider for global businesses. Now companies can delegate their compliance and verification-related issues to Sumsub and focus entirely on their core business goals.

Hatch, the Manchester-based food and drink destination, is trialling a new way for its customers to pay and prove their age. The system is now in place at the Oxford Road Manchester venue, from Thursday – Saturday, with the trial ending on June 30th. The unique vein mapping technology is provided by FinGo, a biometric identity authentication solutions provider. FinGo enables age-verified payments by taking a simple scan of a person’s unique finger vein pattern through an infrared device.