Micro-investing platform Wombat has closed its Series A funding round, raising more than £4m to support its ambitious growth plans, forthcoming product launches and international expansion.

The round was led by long-time backer Fuel Ventures, which first invested in the business in 2020. A four-week crowdfund also gave Wombat users and broader community access to the round and closed 300% over target, contributing to a total raise of £4.2m.

As more money moves online, people need simple, easy ways to bring their money into the digital financial ecosystem. We’re investing in expanding Plaid’s network reach to new geographies and more people across the world to better support the ecosystem.

Growing the payment partner ecosystem

DPO Group (DPO) co-founder and CEO Eran Feinstein has announced his retirement after helping to build the company from scratch to become one of Africa’s leading payment providers. Last year, Feinstein, alongside co-founder Offer Gat, successfully managed DPO’s sale to Network International, a globally renowned enabler of digital commerce across the Middle East and Africa.

Deutsche Payment today announces its collaboration with Token, the leading Open Banking enabler for Europe's payments industry, and the subsequent launch of PayThisWay powered by Deutsche Payment: a solution for account-to-account payments and Open Banking that enables fast, smooth, cost-efficient, and secure direct payments between accounts.

London-based global fintech Unlimint, has today announced the launch of its Banking as a Service (BaaS) product,

Sumsub, a regtech company that helps businesses stay compliant and fight digital fraud, establishes its first US office in Miami, Florida, launching new services available only for US customers. Now local clients can add Social Security Number (SSN) checks to verify users through Social Security records. SSN verification also enables background checks, which can immediately spot customer red flags, including bankruptcies, liens, criminal records, etc.

SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, announced today that it has invested funds in Hong Kong-based  KYC, KYB and data management platform with the aim of accelerating the company’s product development and boosting its sales organisation – both to meet the increasing demand of the global identity verification market for individuals and corporates that is anticipated to be worth US$17 bill

British Arab Commercial Bank (BACB) has signed a collaboration agreement with leading Uganda-based commercial lender Tropical Bank Limited (Tropical Bank) to mutually support a range of projects and trade opportunities.

The sixth edition of the Latin America Summit, the annual event organized by Brazilian payments fintech EBANX will be held for the first time outside of Brazil in Mexico City from September 12-15.

Highline Technologies, the payments fintech that unlocks payroll-linked lending and bill pay, announced today that it has successfully raised $13 million in Series A funding. The round was led by Jump Capital, Costanoa Ventures, Foundation Capital and other investors.