Tarabut, MENA’s first and largest Open Banking platform, today announces its partnership with BENEFIT, Bahrain’s leading FinTech company and the national electronic payment infrastructure operator, introducing a new consent authentication method to streamline Bahrain's Open Banking ecosystem.

Through Tarabut’s advanced Identity Verification product, and regulator-approved application programming interface (API), BENEFIT users can consent to accessing Open Banking services directly in the BENEFIT app and others.

The partnership will enhance customer experience by eliminating the scattered customer journeys typified by the need to switch between notifications and bank apps. The Tarabut-BENEFIT collaboration paves the way for a cohesive, enhanced experience, poised to significantly boost user conversions. The integration includes app-to-app deep linking, improving the authentication model for users in Bahrain to quickly link their bank accounts, regardless of the bank. This alliance ensures consistent access to a wider range of financial products, fostering competition and enhancing experiences across all financial services in Bahrain.

Tarabut Founder & CEO, Abdulla Almoayed says about the partnership, “This partnership leverages Tarabut's extensive experience and pre-existing integrations, combined with BENEFIT's widespread adoption and transactional capabilities, to create a synergy that pushes the whole ecosystem forward. What truly defines our integration is the shared capability to not just adapt to the Open Banking evolution, but to lead it for the Kingdom as a whole. By leveraging our resources and expertise, we have developed a groundbreaking solution that sets a new standard, ensuring unparalleled sophistication and user-centric design unmatched by any other offering in the region.”

Abdulwahed AlJanahi, Chief Executive at BENEFIT says about the partnership: “Our partnership with Tarabut is instrumental in unlocking the full potential of Bahrain's Open Banking landscape. By simplifying financial connectivity and harmonizing user journeys, we're forging a enahnced experience that sets new standards. This milestone underscores our mutual dedication to bolstering Bahrain's stature as a pivotal FinTech hub within the region, aligning closely with the national drive towards digital transformation and emergent technologies.” AlJanahi added: “This is part of our solid commitment toward paving the way for innovation in the sector”.

Yousif AlNefaie, Deputy Chief Executive of BENEFIT, says: “This strategic partnership with Tarabut represents a paradigm shift in Bahrain’s Open Banking landscape. By seamlessly integrating our platforms, we're not just redefining user experiences; we're pioneering a new era of financial connectivity. This is yet another testament to our shared commitment to advancing Bahrain's financial ecosystem and propelling it to unprecedented heights." Moreover;” This is a key strategic direction for us and goes in line with the national directions as the financial sector continues to be a remarkable contributor to the economy”.

With the vast number of users, licensing from the Central Bank of Bahrain, and support from some of the top banks in the country, BENEFIT has emerged as a cornerstone in Bahrain's FinTech and Open Banking scene. Elevating this partnership is a crucial step in building customer trust and driving increased adoption and conversion rates within the Open Banking ecosystem. The Tarabut-BENEFIT collaboration paves the way for a cohesive, enhanced experience, poised to significantly boost user activity.

This strategic initiative empowers consumers to select banking services and tools tailored to their preferences, fostering a more inclusive financial ecosystem within the country. This shift holds the potential to significantly improve the financial well-being of millions, representing a development of crucial importance extending well beyond the realm of Tarabut.

 YNAB, an app and set of habits for your money, is among the first to integrate Apple's new FinanceKit API providing direct access to Apple Card, Apple Cash, and Savings with Apple Card transactions within YNAB.

YNAB helps users align their money with their priorities through a simple set of spending habits; direct access to Apple Card makes it faster and easier for users to view transactions and have total clarity of their spending. Apple Card, Apple Cash and Savings with Apple Card transactions now seamlessly sync with YNAB to reflect real-time spending, making it simple to always be up-to-date.

"We are thrilled to be one of the first apps selected by Apple to bring this feature to life," shares Todd Curtis, CEO of YNAB. "Since 2004, YNAB has been focused on helping people change their relationship with money, and we are excited that this integration will enhance the YNAB experience for Apple Card holders, making it even easier for them to spend confidently, save aspirationally, and even give joyfully."

DailyPay, a proud launching partner for Visa+, announced today that the innovative new service is available to DailyPay's millions of users nationwide.

Launched in late 2023, the mission of Visa+ is to create an interoperable future, where paying across services is as seamless as using any one service, benefiting both consumers and payment app providers.

Now, all DailyPay users nationwide will have the opportunity to deposit their earned wages, prior to a scheduled payday, directly to Visa+ linked accounts where they can leverage other person-to-person digital payment apps. This empowers the DailyPay user to pay bills, spend, invest, or move money to friends/family on their own schedule.

DailyPay currently partners with America's leading employers who offer the financial wellness benefit to their employees. In 2023, DailyPay moved $19 billion on its work tech platform, clearly demonstrating that earned wage access has arrived as an essential benefit for the American worker.

"The future of payments has arrived," said Dekel Beeri, Product Strategy, DailyPay. "We are thrilled to be part of the launch of Visa+, which will allow DailyPay's millions of users to move money quickly, safely, and securely between DailyPay and other world-leading person-to-person digital payment apps, as part of this game-changing new platform."

Uber today announced a new partnership with Mastercard and Payfare to launch the Uber Pro Card, providing free instant payouts after every trip or delivery and enhanced loyalty features for drivers and delivery people on the Uber platform in Canada, powered by Payfare’s leading digital banking app and platform.  Built specifically for the needs of drivers and delivery people, the Uber Pro Card offers exclusive cash back rewards helping to save up to 4% on gas, up to 8% on electric vehicle charging, and other everyday expenses.

“At Uber, we look to support drivers and delivery people with flexible options to access their earnings,” said Michael van Hemmen, General Manager of Mobility for  Uber Canada. “Through our partnership with Mastercard and Payfare, the new Uber Pro Card will enable drivers and delivery people to make the most of their earnings through exclusive cashback rewards.”

Qualifying cardholders will also be eligible for the Backup Balance4 feature, enabling drivers and delivery people to access up to $50 when they need it most.

“App-based workers, including drivers and delivery people on Uber, play an integral part in our economy and they require flexible financial products to meet their unique needs,” said Balinder Ahluwalia, Senior Vice President Market Development, Mastercard in Canada. “Through this partnership with Uber and Payfare, we are enabling app-based workers to scale their business by providing them with cash flow when they need it most.”

The Uber Pro Card will be available via mobile wallets and enables seamless contactless payments, so drivers and delivery people can begin spending immediately. They can track earnings, transfer funds, earn rewards, and manage savings all through the Uber Pro Card app.

“Uber is our longest tenured app-based platform partner and we are pleased to expand our partnership with the all new Uber Pro Card in Canada,” said Marco Margiotta, CEO and Founding Partner of Payfare. “Free instant access to earnings and tailored incentives for gig workers help our cardholders every day while also benefiting our app-based platform partners with increased engagement of drivers and delivery people.”

The Uber Pro Card is a Mastercard Business Prepaid Card that can be used at all Mastercard acceptance points, offering flexibility. The card also provides built-in tools and benefits to help drivers and delivery people better manage cash flow, keep records, and safeguard their devices. This includes access to Mastercard Easy Savings, a rebate program to reward small business owners when they spend, Easy Savings Specials, providing offers for business essentials, and other benefits. The Uber Pro Card is separate from the Uber Plus Card that delivery people can use for shop and pay trips.

spektr, an innovative European startup committed to simplifying ongoing due diligence processes through automated compliance solutions, proudly announces the appointment of Reno Mathews as its Chief Compliance Officer.

Bringing over two decades of diverse compliance experience from esteemed organizations such as Citi, Google, Robinhood, Meta, and Trulioo, Mathews is renowned for his expertise in navigating complex regulatory frameworks within the financial sector.

“In many organizations, compliance teams are often neglected in the race for technological advancement. I’m excited to join a team of remarkable individuals dedicated to relieving this burden from compliance teams and crafting a tailored solution using the best technology and automation that meets their needs.” said Reno Mathews, Chief Compliance Officer of spektr.

In previous roles, Mathews led the development and implementation of compliance controls at a global scale, demonstrating his capability to manage regulatory obligations across various jurisdictions in all continents. His earlier roles, notably as the Chief Compliance Officer of Payments at Google, entailed close collaboration with regulatory bodies for his oversight of licenses and exemptions across a broad spectrum of jurisdictions including the US states, UK, Ireland, Lithuania, Malaysia, Korea, Japan, Australia, Thailand, Singapore, India, and Brazil.

During his time at Trulioo, as Chief Compliance Officer, Mathews crossed paths with Mikkel Skarnager, who had previously founded a client onboarding platform eventually acquired by Trulioo. Their shared vision for transformative compliance solutions led Mathews to join spektr, continuing their partnership in addressing industry challenges.

Mathews’ selection underscores spektr’s commitment to innovation and excellence in Ongoing Due Diligence practices for financial enterprises worldwide. His proven expertise in steering compliance frameworks across diverse sectors such as banking, payments, cryptocurrencies, and trading lays a robust groundwork for spektr to develop an innovative compliance platform enriched with automation capabilities.

RemotePass has raised $5.5 million in our Series A funding round, led by 212 VC and joined by prominent investors worldwide. This fresh injection fuels their mission to revolutionize remote work for companies and talent globally.

Born as a pivot from a business travel platform during the COVID-19 pandemic, they've grown into a 55-member strong team serving over 360 businesses in 50+ countries.

RemotePass stands at the forefront of HR and FinTech solutions, offering a comprehensive platform that simplifies the complexities of managing remote teams. By facilitating the onboarding, payment, and retention of remote employees, RemotePass caters to companies of all sizes, enabling them to leverage global talent pools without the need for a legal entity in each country.

RemotePass’s cumulative funding has now exceeded $10m, thanks to previous rounds of investment from notable entities such as BECO Capital, Wamda Capital, Plug & Play, and Flat6Labs. This underscores the company’s robust financial foundation and its commitment to enhancing the remote work ecosystem.

Ali Hikmet Karabey, managing director at 212 VC, lauded RemotePass’s achievements, stating, “Witnessing RemotePass’s remarkable product growth and stellar customer service since early 2023 has solidified our belief in their visionary team and business model.”

Kamal Reggad, CEO and co-founder of RemotePass, echoed the sentiment of growth and opportunity, “Our platform helps democratize access to global opportunities, leveling the playing field for skilled individuals and enabling them to compete in a global job marketplace. This funding fuels our mission to empower countless lives and help global teams succeed.”

Theia Insights, a UK-based deep tech start-up launched by former Amazon Alexa scientist and solo entrepreneur Dr. Ye Tian has raised $6.5M. In another example of US venture capital looking to the UK for the most innovative technology companies, the round was led by Silicon Valley’s Unusual Ventures, with participation from Fidelity International Strategic Ventures, and LA-based Clocktower Ventures, alongside several strategic angels.

Theia Insights’ products and solutions are built upon a foundation of academic and proprietary research and incorporate the latest developments in AI, machine learning, Natural Language Processing (NLP), Large Language Models (LLM), and technologies grounded in advanced financial mathematics.

Given the importance of understanding the economic landscape and the make-up of companies — what exists and “who does what and by how much,” investors rely on several foundational technologies to make decisions. The modern world moves faster and changes more frequently than ever before — the global economy is more dynamic, companies are increasingly active across many different verticals, and we are bombarded by information and data. In turn, tools and solutions must keep up. Theia was founded to solve this problem and build future-proof foundational AI that adapts to the world we live in today.

Dr. Ye Tian, Founder and CEO of Theia Insights said, “We live in the age of data overflow — everything from geopolitics to financial filings, to social media and news. It’s often overwhelming and easy to get lost in the noise. But good investment decisions require clarity, and that is where AI can play an unrivalled role — by lifting us from the valley to the mountaintop, so we can choose the paths we want to take by seeing where every path leads and how they connect.”

With an academic background in Natural Language Processing (NLP) and AI, former research scientist at Amazon Alexa, Dr. Ye Tian has assembled a highly skilled team of experts from Nasdaq, Morgan Stanley, Meta, UC Berkeley's Economics Department, Amazon Alexa, AWS and the University of Cambridge's Computer Science Department. The company is named after “Theia” the Goddess of Sight, with the mission of synthesizing and distilling vast amounts of information so investors can see clearly.

This financing round has allowed Theia to attract industry-leading talent from conventional classification and risk management firms, as well as individuals at the very forefront of the rapid recent advancements in AI. This carefully managed expansion of the firm’s pool of exceptional human resources is being matched by ongoing investment in ambitious commercial projects and research initiatives.

Lars Albright, General Partner at Unusual Ventures commented “We believe that data infrastructure in the asset management sector will continue to go through substantial change and advancement through the adoption of AI. The shortcomings around legacy industry classification systems and the lack of dynamic insights on risk factors driving investment decisions is a pressing issue. After meeting and getting to know Theia, we were impressed with their bold vision, their technical ability and the team they have assembled to tackle this substantial problem.”

Fidelity International Strategic Ventures also supported Theia in the round. Principal, Erik Mostenicky said, “Theia Insights' team's strong academic expertise in AI and natural language processing uniquely positions them to tackle many technically challenging problems affecting the investment industry, and we are excited to support them on this journey. Their products have already attracted significant interest from major industry players, and we believe they have the potential to redefine and revolutionize portfolio construction and risk monitoring processes in the future.”

Theia Insights serves a diverse range of corporate clients, such as asset and wealth managers, ETF issuers, Index providers, investment banks, fintechs, and the broader financial services ecosystem. In partnership with some of the world’s largest and most well-known organizations in the space, Theia is developing three core technologies: dynamic industry classification, thematic risk models, and portfolio analysis.

Yuno, a leading global payments orchestration platform, announces today it has secured US$25 million from a consortium of prominent investors, including DST Global Partners, Andreessen Horowitz, Tiger Global, Kaszek Ventures and Monashees.

Founded by experienced tech entrepreneurs Juan Pablo Ortega and Julián Núñez, Yuno offers its clients fast and reliable payment orchestration, helping revolutionize retail, e-commerce, travel, mobility, and other industries. Yuno already serves customers like McDonald's, Avianca, inDrive, Rappi, and others across 50 countries, offering innovative features such as one-click checkout modifications, smart routing, and the integration of information from all payment processors and anti-fraud tools into a unified interface.

Funds raised in this Series A round will help further strengthen Yuno's operations in North and South America and enter new markets in Europe, Asia, and Africa. This should benefit Yuno's customers, who already value the company's innovative approach to integrating diverse payment methods, which is fueling their own growth by providing easy-to-use, reliable, and tailored solutions for different geographies.

Juan Pablo Ortega, CEO and Co-founder at Yuno, commented: "This financial backing validates our vision and our ability to take the global payments industry into the future, helping fuel positive change across many different sectors of the economy. We are thrilled to bring our cutting-edge solutions to new markets."

Julián Núñez, Co-founder at Yuno, added: ''Yuno is already successfully facilitating financial transactions in over 50 countries, highlighting our versatility and adaptability in meeting the diverse demands of the global market. This latest round of funding will play a pivotal role in advancing Yuno's technological infrastructure, expanding our team of exceptional professionals, and crafting innovative market strategies to strengthen our presence across different geographies."

"We're happy to be supporting Yuno in the next phase of its growth," said Saurabh Gupta, Managing Partner at DST Global. "We're impressed by the entrepreneurial track record of its founders, the strong team and customer base they've built, and the company's proven ability to keep innovating in online payments."

Carputty, a leading fintech company revolutionizing auto financing and ownership, is thrilled to announce the successful closure of a $75 million warehouse facility with Silicon Valley Bank (SVB), a division of First Citizens Bank. This significant investment is further bolstered by new equity contributions led by TTV Capital and supported by Fontinalis Partners, Kickstart Fund, Kinetic Ventures, and Grand Ventures. With the investment and warehouse facility combined, Carputty's newest financial backing exceeds $80 million. Other noteworthy key investors include Porsche Ventures and University Growth Fund, who, alongside the current participants have seen Carputty raise more than $100 million in total funding, marking a substantial milestone for the company.

Brian Foley, Market Manager at SVB, collaborated closely with Carputty to structure and launch this transformative warehouse facility. “SVB continues to support fintech companies in significant growth stages, and Carputty exemplifies the innovation and impact we seek in our partners,” said Foley. “This partnership underscores our commitment and ability to support companies poised for exponential growth.”

This milestone agreement, replacing the former $20 million facility, marks a significant leap forward in Carputty's expansion strategy and ability to meet burgeoning market demand. The new warehouse facility, structured under a two-year term compared to the previous six-month term, serves as a robust growth facilitator for Carputty. 

Bobby Heytota, Carputty's Head of Capital Markets, emphasized the pivotal nature of the SVB relationship, stating, “This partnership is a game changer for us. With the ability to aggregate large tranches of prime plus consumer auto loans, we are positioned to support our investors, onboard new buyers, and pave the way for our first securitization.”

The warehouse will bolster the company's ongoing relationships with industry giants such as Turo and Lucid Motors USA while empowering the greater expansion of its direct-to-consumer offerings into the 48 states and territories that it operates within. Carputty is also anticipated to open in California, representing approximately 12% of the US auto market, allowing the company to tap into further growth with its innovative Flexline™ model.

Patrick Bayliss, Co-Founder and CEO of Carputty, hailed the momentous occasion as a testament to the company's evolution. “This marks a seminal moment for Carputty,” said Bayliss. “As we continue to forge partnerships across the automotive ecosystem, the overwhelming demand for our Flexline model validates our vision for the future of auto financing and ownership.”