Northmill Bank raises $30 million in new funding round
Northmill Bank, a Sweden-based challenger recently announced that it raised around $30 million in new funding. This round was led by M2 Asset Management and Coeli. The funds raised will be used for continued geographical expansion and to further accelerate the development of new products. This also includes plan to launch in 10 new markets as Northmill with Norway being the next stop.
BharatPe raises $108M in Series D funding
BharatPe – an Indian payment s ervices provider recently announced that it raised $108 million Series D funding round. This round was led by Coatue Management. Other investors such as Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital all joined the round. This round also witnessed BharatPe return $18M to its angel investors and employees. Ashneer Grover, CEO, BharatPe, commented: “This is just the beginning of our journey and we are committed to building India’s largest B2B financial services company that can serve as one-stop destination for small merchants.”
Mesh Payment raises $13M
Mesh Payments – a corporate payment processing firm recently announced a financing round with $13 million. The round was led by TLV Partners with participation from Meron Capital, R-Squared Ventures and a consortium of FinTech founders and investors. According to their website, Mesh Payments allows businesses a one-stop hub to orchestrate, manage, analyze and optimizie, reconcile, and reduce their corporate spend and subscription payments while preventing subscription payment failures that can result in business interruptions.
Personetics raises $75M in growth funding
Personetics, a data-driven personalization and customer engagement solution provider for financial services providers, recently announced that it has raised $75m in growth funding from Warburg Pincus. Personetics is also backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners. David Sosna, CEO and Co-Founder of Personetics, said: “Personetics has set out down this path and has launched its vision of Self-Driving Finance. We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey”.
Marcus by Goldman Sachs launches investing services for retail customers
Marcus by Goldman Sachs, the retail banking arm of Goldman Sachs recently unveiled its automated investing feature for its retail customers – Marcus Invest. This is a robo-advisory solution which recommends a portfolio of stock and bond ETFs based on a customer’s approach to risk and their investment strategies and timeline. Retail customers can open an account with as little as $1000 and start investing.
PARTNERSHIPS & COLLABORATIONS
Mastercard and MTN announce a strategic partnership
Mastercard and MTN recently announced a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. With this partnership, MTN MoMo (Mobile Money) wallets, consumers and merchants can link to Mastercard’s virtual payment solution and engage with brands and businesses abroad through digital commerce, extending their reach to an international marketplace and unlocking a host of opportunities. This solution will also allow small business owners to purchase from suppliers abroad and pay with the virtual payment solution.