Friday, May 27, 2022

Dutch BNPL fintech in3 raises $85.3 million in series B funding round

in3, a Dutch Buy Now Pay Later (BNPL) fintech announced a $85.3 million Series B funding round from the British VC Force over Mass, U.S. institutional asset manager Waterfall Asset Management LLC and Dutch investor Finch Capital. Launched in 2018, in3 gives consumers the option to pay in three instalments without interest or other hidden costs levied. Current customers include Kwik Fit, EP, La Souris, Matt sleeps, Dekbed-Discounter among others. The news follows their $11.1m series A round just two months ago in March 2022 and takes the total funding raised to $96.4m. BNPL is a popular form of short-term financing.

Low-income borrowers on affordability schemes to struggle securing finance

Low-income borrowers may still struggle to qualify for finance if using a two per cent deposit housing affordability scheme. The incoming Labor Government’s proposed Help To Buy scheme aims to provide an equity contribution of up to forty per cent for eligible low to middle-income homebuyers, with only a two per cent deposit saving seemingly required.

The move to future-proof families and legacies on the African continent

Appetite for investment migration in markets beyond Southern Africa has been growing steadily over the past few years. Nigeria was the second-largest market (after South Africa) in terms of enquiries received by Henley & Partners in 2021, with growth of 15%. Three Northern African countries — Egypt, Morocco and Algeria — came in third, fourth and fifth, in terms of the number of enquiries last year, with respective growth of 25%, 19% and 33%.

TransferMate secures $70m funding to further innovation in B2B payments

TransferMate, the provider of B2B payments infrastructure as-a-service, announced a $70m funding round bringing the company to a valuation of $1bn and $130m of total funding. Railpen, one of the largest UK pension funds, managing £37 billion, participated in the round. TransferMate has grown its global licensing infrastructure and banking network to be one of the widest in the industry and has been chosen as the partner of choice to power B2B payments products for some of the largest software platforms, innovative banks and Fintechs in the world. This funding round which consists entirely of primary capital will be used to expand its teams globally and further invest in its technology innovation and product suite.

Thought Machine closes $160 million Series D funding led by Temasek

Thought Machine, the cloud native banking tech firm, announces it has closed its series D funding round, led by Temasek, the global investment company headquartered in Singapore, with participation from Intesa Sanpaolo and Morgan Stanley. Existing investors following-on in this round include: Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB.

Starr Insurance Companies reaches agreement to acquire FPG Thailand

Starr Insurance Companies (Starr) announced an agreement with FPG Insurance Holdings Limited (HK) (FPG) and local Thai shareholders to purchase FPG Insurance Public Company Limited (FPG Thailand), a Thai non-life insurance company, together with local Thai parties. Starr’s investment will be held by its Bermuda insurance company, Starr Insurance & Reinsurance Limited. The deal is expected to close in the second quarter of 2022, subject to certain customary closing conditions, including any necessary regulatory approvals.

Almost two thirds of Aussies face challenges paying surprise $2,000 bill

Most Australian households would struggle to pay over $2,000 for unexpected but necessary services like urgent home and vehicle repairs or dental work, according to a new Australian Household Threshold report. The report – based on a survey of over 1,000 Aussies by Antenna Strategic Insights for payments and funding solutions firm QuickFee – found that an unexpected bill above $1,500 would stretch the budget for 45% of Australian households.

doola launches product that enables any business to open a U.S account

doola announced that they have launched a product for businesses that will allow founders to open a US bank account from any continent, with no US Social Security Number required. Founders can now register an LLC, DAO LLC, or C Corp through doola, get an EIN (employer identification number) from the IRS with doola, and open a US bank account with doola.

TrueLayer teams up with as CDR expands to open finance

0, the player in Australian Consumer Data Right (CDR) compliance, has successfully supported global open banking player TrueLayer to de-risk and accelerate its journey to becoming an active Accredited Data Recipient (ADR) in Australia.

Businesses face period of rapid expansion thanks to budget initiatives

As businesses grapple with COVID recovery and the impact of global events, the federal government has implemented some initiatives for business that are likely to ramp up sections of the economy, particularly those involving apprenticeships and technology and training. Earlypay client service managers across the country are already seeing a rise in the number of businesses seeking funding to invest in technology and training and staffing in the form of new apprenticeships. Earlypay Limited, an ASX-listed company (EPY), is Australia’s leading customer-focused business financing organisation. It provides invoice financing, equipment financing and trade financing to Australian small to medium-sized businesses.