United Fintech has expanded its team in New York with the appointment of Mitch Vine and Danny Finnerty (pictured) to expand the fintech's US presence and provide a one-stop store for banks, hedge funds, and asset managers. The company acquires and scales innovative fintech companies in the capital markets space, partnering with the founders to optimize their business.
While the global tech industry is reeling from massive layoffs as startup funding declines, the U.K.'s largest unicorn is bucking the trend and going on a hiring spree. Revolut is increasing its workforce by 20%, including in the division of its digital assets, which has continued to grow despite the general market downturn. Business slowed after the Covid-19 pandemics, but Revolut still saw a 30% increase between July 2021 and July 2022.
Founded in 2017, Own360 says it now manages around 15,000 fund custody accounts in Austria. FinTech is now renaming itself Sunrise (website) and wants to tackle the next growth step, for example, a branch office in Berlin. However, the rebranding is not intended to change anything about the concept.
The partnership between Sparkasse KölnBonn (website) and FinTech Raisin (website) goes into the next round. Customers of the Sparkasse can now conclude overnight and fixed-term deposits with Raisin via their advisor and view them directly in online banking. This is possible thanks to an API solution developed as part of an open banking partnership between Raisin and Wallis. The first user of the integration is Sparkasse KölnBonn.
FTX, the regulated cryptocurrency company of Sam Bankman-Fried, announced an integration with Reddit's Community Points in the US, EU, Australia, and other global markets. The partnership features the integration of FTX Pay as a white-label payment and exchange solution to support users onboarding Community Points.
Crypto Winter and the Celsius virus officially arrived in Germany. Berlin-based digital bank Nuri (website) filed for insolvency only two months after announcing layoffs. The crypto fintech struggled with the rout in crypto prices and economic uncertainty. Nuri (previously Bitwala) was not able to find fresh funds. In a statement, the company said that despite the filing, customers would still have full access to their current accounts (euros) and their crypto wallets and vaults (bitcoin & ether) and can continue withdrawing funds.
Supply chain financing platform CredAble raised $9 million, led by private lender Axis Bank. Existing investor Oaks Asset Management also participated in the funding round. The company raised $30 million last October as part of its Series B financing, which was co-led by Plutus Management LLP and Oaks Asset Management.
Anybill wants to be the interface between retailers, POS system operators and end customers by creating digital receipts and fighting the immense amount of thermal paper waste. The FinTech has secured two new sponsors to put the plan into action. It says Anybill's technology and partner network will enable merchants of all industry sizes to issue receipts directly at the checkout digitally.
