EdfaPay, a Riyadh-based FinTech platform redefining digital payments for small and medium-sized enterprises (SMEs) across the MENA region, has announced the successful closure of its $5m pre-Series A funding round. The funding was led by OmanTel Innovation Labs, with participation from Aljabr MENA and Waad Investment. EdfaPay provides a comprehensive suite of financial tools tailored…
Amundi one of the largest asset managers in Europe with €2 trillion in AUM, has acquired Aixigo, a digital financial consulting software provider based in Aachen, Germany, for €149 million. The transaction will see Aixigo’s API-based wealth management platform and 150 team members join the Paris-headquartered asset manager’s Amundi Technology business. Aixigo’s platform, Aixigo:BLOXX, currently…
Arc Intelligence, a capital markets and cash management platform has launched an AI platform to automate complex financial tasks for the private credit industry. Arc Intelligence is first launching the AI Private Credit Analyst to help investors generate detailed credit memos using unstructured financial data. Don Muir, chief executive and founder of Arc said: “Artificial…
Egypt’s Financial Regulatory Authority (FRA), emphasized its commitment to accelerating digital transformation in Egypt’s non-banking financial sector. Speaking at the Cairo ICT Exhibition and Conference, Mohamed Farid, Chairperson of FRA highlighted the authority’s efforts. The authority’s main goal is to create a supportive regulatory environment for fintech innovation. Farid announced the launch of the FRA’s…
Pemo, a fintech company based in Dubai, has raised US$7 million in its pre-series A funding round led by Shorooq and Augmentum Fintech. The funds are expected to enhance Pemo’s operations and support expansion into new GCC markets, including Saudi Arabia. The company plans to use the investment to improve its spend management platform, which…
Paymentology has signed a referral partnership with Zand Bank, the UAE’s first fully licenced, all-digital bank. This collaboration focuses on expanding financial services for fintechs and startups, aiming to accelerate innovation and growth in the UAE. Since 2022, Zand Bank has empowered UAE and global corporate, institutional and wealth clients to unlock new opportunities, foster…
Lean Technologies, a Riyadh-based FinTech infrastructure platform, has raised $67.5m in its latest Series B funding round. This financing was led by General Catalyst, a prominent Silicon Valley venture capital firm known for supporting high-growth tech companies. The funding round also saw participation from several major investors, including Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family…
German sustainable banking startup, Tomorrow, has raised just below €5M in new funding. Existing investors Abacon Capital, ETF Partners and Kopa Ventures participated in the round IFB Innovationsstarter. To funding will be directed towards customer acquisition and develpoing its software, including expanding its range of banking products. The startup is known for collaborating with customers…
International money transfer company, Wise, hass reported a 25% increase in active customers to 11.4 million in the six months to September 2024, marking a 2.8-times expansion in its customer base over four years as the fintech deepens its integration with domestic payment systems. The London-based firm, which offers cross border payments and multi-currency accounts,…
Moneybox has secured 23rd position in Deloitte’s UK Technology Fast 50, marking its fifth consecutive appearance in the rankings and reflecting the platform’s expanding presence in the UK retail investment sector. The company, which provides services including stocks and shares ISAs, lifetime ISAs and pension products, recorded revenue growth of 1,399% over the past three…
