Savii, the financial platform designed for teens and young adults, today announced their official product launch in the UAE.  The Savii banking app and Visa prepaid card allows teenagers and young adults to make payments independently and relieve parents of the anxiety of giving them premature access to their own credit card.

SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm has entered into a Memorandum of Understanding (MOU) with Yabx, a company incubated by Comviva and part of the Mahindra Group, to address a deep-rooted need for responsible consumer finance in Africa.

13/02 – Weekly Investment & Fundraising News

Uber Alumni Startup Hatica Raises US$3.7M to Boost Developer Productivity and Well-being Using Engineering Analytics

Partnerships 

American Express Taps Microsoft AI for New Expenses Tool

Tide, the leading digital business banking platform, has completed its purchase of Funding Options, a UK marketplace for business finance, following FCA approval. The proposed acquisition was announced in November 2022.

Funding Options will operate as a separate brand within Tide, with work underway to merge Tide’s existing credit intermediation business with Funding Options. This part of the business is being led by Funding Options CEO, Simon Cureton, and is now called Tide Partner Credit Services.

Moonfare, the leading global digital private equity investment platform, has capped the extension of its Series C financing round at c.a. $15 million, achieving a record valuation.

MThis brings the total capital raised in the Series C funding round to over $130 million.

Intellect Global Transaction Banking (iGTB), the transaction banking arm of Intellect Design Arena, a cloud-native, future-ready, new-gen multi-product FinTech company for the world’s leading financial and insurance institutions, has been awarded World’s Best in Virtual Accounts management at the Global Finance Treasury and Cash Management Systems Awards 2023. 

Nets, part of Nexi Group, the European PayTech, will establish Nexi Digital Finland as a hub in Espoo, Finland, to drive technological innovation within Nexi Group.

With retail banking and customer behaviour continually evolving, adaptation is the name of the game, and staying abreast of market trends is more important than ever

Ongoing service helps banks and suppliers understand challenges and opportunities

Leading global identity verification provider ID-Pal, today announced the appointment of Tim Murphy as the new independent Chairperson of its Board of Directors. An early investor in ID-Pal, Murphy has sat on the Board as a non-executive member since 2017 and his current position is Principal Director at mergers and acquisitions (M&A) advisory firm, Guacamole Partners Limited.