Kredivo Holdings (formerly known as FinAccel), the parent company of Kredivo and Krom Bank Indonesia, today announced that it has raised ~US$270 million in equity financing in a significantly oversubscribed round, bringing its Series D fundraise to a successful close. This round was led by Japanese global bank Mizuho Bank, Ltd., a subsidiary of Mizuho Financial Group, Inc.

Rain, a provider of financial wellness products that empower and engage employees, announced today that it raised $116 million, encompassing $66 million in equity and $50M in debt. QED Investors and Invus Opportunities led the Series A with participation from firms including WndrCo, Tribe Capital, and Dreamers VC, which was co-founded by Will Smith. The debt facility was arranged by Sound Point Capital Management, LP.

As the end of the tax year approaches, investors are looking for ways to make the most of their investments while reducing their tax bills. While many are familiar with traditional tax-efficient investments such as ISAs and pensions, one option that is often overlooked are Venture Capital Trusts (VCTs).

Over 80% of organisations are concerned about managing the costs of their cloud computing estate. With rising data levels, demands for increased digitisation and an economic backdrop that is challenging, over a quarter of business technology leaders are very concerned about cloud costs in relation to their IT budget in the coming year, the 5th Annual Enterprise Cloud Index (ECI) report finds. In addition to budgetary pressures, CIOs and CTOs tell the ECI report that sustainability, cybersecurity and talent pressures are increasing, too. 

Hexaware Technologies, a global IT services company, and Xceptor, a leading data automation platform provider, have launched a new Center of Excellence and Solution factory in Pune, India.  

The partnership combines Hexaware's banking & financial services expertise and technical delivery capabilities with Xceptor's best-in-class platform for automating data workflows to offer innovative data automation solutions worldwide for banking and financial services companies. 

Ethical lender Plend has selected GoCardless, a global leader in direct bank payments, to provide Variable Recurring Payments (VRPs) through GoCardless’ Instant Bank Pay feature.

Cryptocurrency exchange platform Coinmama has partnered with Volt, the leading global gateway for real-time payments, to enable open banking payments for its customers across Europe and Brazil. The partnership unlocks growth for Coinmama as it increases its coverage in key European markets, enabling real-time deposits and payouts for customers buying and selling cryptocurrencies.

SHAZAM, the member-owned debit network, processor and core provider supporting community banks and credit unions across the USA, has chosen Iliad Solutions as its payments testing supplier.

Iliad Solutions’ products and services, used by leading financial institutions around the globe, help to minimize the risk when deploying new payments technology, reducing the costs associated with testing and improving the speed of launching new systems.

Unzer, a company offering payment and commerce solutions, today launched its new buy now, pay later (BNPL) product. Under the name "upaylater", Unzer is integrating invoice and instalment payment methods, as well as direct debit into its product portfolio via a single interface. This makes it even easier for merchants to meet customers' growing demand for BNPL services. In the future, Unzer looks forward to expanding its market share in BNPL services.