This Week in Fintech: TFT Bi-Weekly News Roundup 27/04

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The Fintech Times Bi-Weekly News Roundup this Tuesday. Revolut expands into India with appointment of Paroma Chatterjee as India CEO. While FXPRIMUS launches trade for a cause campaign.

Appointments

Eira Hammond is the new head of payroll at fintech Hi55 Ventures. Hammond will lead the strategic direction for Hi’s payroll product and will also support sales and technology development. She previously held senior payroll positions at BT, Mouchel and Hewitt/Cyborg.

UK-based fintech Revolut appoints Paroma Chatterjee as CEO India as it kickstarts its entry into the country. Chatterjee joins from Lendingkart and has previously held senior executive roles at Airtel Money, Flipkart and Via.com. Revolut has also committed to the creation of 300 new jobs in India.

Vikas ThaparVikas Thapar
Vikas Thapar

Mashreq Bank has appointed Vikas Thapar as its new head of business banking and NEOBiz, the bank’s exclusive digital banking platform for SMEs. Thapar will look to capitalise on growth opportunities as well as help drive a strong value proposition through cross sell and strategic partnerships.

Fintech firm Pagaya has unveiled Tami Rosen as chief people officer and Michael Kurlander as chief financial officer. The appointments follow Pagaya’s announcement of the expansion of its PAID Shelf with $900million in pre-funded consumer credit.

Network International has promoted Jamal Al Nassai as group chief operations officer and a member of the senior management team. In the newly created role, Jamal will be responsible for leading operations across all geographies served by the company.

Blockchain-based derivatives trading platform CloseCross has bolstered its management team with the appointment of Joseph Portelli as its first chairman. Currently chairman at the Malta Stock Exchange, Portelli joins the fintech as it gears to launch in the first half of this year.

Meanwhile, blockchain payments company Tassat has unveiled Barbara Kissner as its first chief information security officer. Her appointment follows Tassat earning the SOC 2 compliance designation. She will devise the company’s overall information security strategy, as well as maintain oversight for all security processes.

More hires

BRYTER, the no-code service automation platform, has appointed Eugene Shim as its new vice president of sales. He joins BRYTER’s team at a time of rapid development for the company and will help drive growth for the business, particularly in the North American markets.

Mahir Zaimoglu is joining the senior management team at Banking Circle. He will assist with the strategic review of monetisation options as part of the tech-led licenced bank’s global growth journey. Mahir has advised EQT, the majority shareholder of Banking Circle, on several highly successful exits in the past.

Newly merged fintech Onbe has added George Eliopoulos as CRO alongside Kevin Schultz as a new member of the executive board. Their appointments follow Onbe’s recent brand launch announcement after the merger of fintechs daVinci Payments and North Lane Technologies.

The Floor has appointed Tsafrir Attar as chief technology officer. Prior to joining the AI-driven platform, Attar held executive roles at Citigroup. He first served as the VP of development and later as the head of Citi Accelerator.

VoxSmart, a global leader in communications surveillance, has hired former BNP Paribas executive Larry List as head of North America. In addition, former Traiana executive Scott Feldman joins as SVP of operations to drive growth in North America. Their appointments follow a $25million growth equity investment from Toscafund.

Finally, Liam Birch has joined crypto wallet Zumo. He joins Zumo after spending two years working in Berlin as senior product manager at Bitwala in charge of trading.

“. In 2021, Zumo will be launching new products and features as well as making exciting new announcements. Liam will be instrumental in delivering all of these.”

Paul Roach, chief product officer, Zumo
Partnerships

PayCargo has teamed up with Air Cargo Netherlands (ACN) to help simplify the payment and collection of the Association’s membership and delegate transactions. The Dutch trade association will use PayCargo’s encrypted online payment platform to process payments from members and delegates at its events.

And, Amsterdam-based challenger bunq partners with Volt to power open payments. After integrating Volt into its technology stack, bunq customers can transfer funds instantly to their bunq cards and e-wallets from accounts held at other banks connected to the SEPA Instant Credit Transfer scheme.

Meanwhile, international fintech moneycorp has announced a year-long partnership with Film London, the capital’s screen industries agency. The year-long partnership will see moneycorp provide insight and guidance to independent film makers and production houses in order to develop their currency risk management strategy and bolster international business growth.

Film London

Film London

Lastly, Australian cashback platform Kickback has finalised a partnership with shopping rewards company Global Savings Group (GSG). The partnership will give GSG’s Australian consumer engagement platform the ability to feature cashback offer content, along with its existing exclusive savings, deals, coupons and rewards.

More collaborations

Consultant Upskill and Alveo, the financial data management provider, have forged a new partnership to help Asia-Pacific financial services firms. The partnership combines Upskills’ human capital and APAC market expertise with Alveo’s data quality management expertise in order to deliver solutions. It will cater not only to Murex users, but to all financial markets participants across Asia.

Paymerang has partnered with the Wyoming Hospital Association (WHA) to provide electronic payables solution to healthcare community hospitals. With Paymerang, hospitals will be able to automate their accounts payable disbursements. The solution will also be available to all members of WHA and LeadingAge Wyoming – 60 hospitals and long-term care facilities.

Mastercard and BOB Financial Solutions Limited (BFSL) have come together to launch ConQR – a Mastercard QR on card solution. The solution uses a Mastercard patented technology which enables cardholders/ SMEs to accept cashless payments using their cards. last year, Bank of Baroda launched five new credit cards.

Funding and investments

Tamara, a Saudi Arabia-based buy now, pay later platform, has secured a $110million Series A funding round led by Checkout.com. Tamara was the first BNPL firm to be enrolled in the Saudi Central Bank (SAMA)’s Sandbox programme. Since then, it also closed a round of $6million in Seed funding in January 2021.

Insurtech startup OKO raises $1.2million. The round was led by by Newfund and ResiliAnce. Mercy Corps Venture, Techstars, ImpactAssets and RaSa also participated in the round. The startup, which operates in Mali and Uganda, uses satellite data and mobile payments to create automated insurance products for farmers.

There’s funding success for Securrency, which develops digital infrastructure for banks and other financial service providers. It has raised $30million it its latest funding round, valuing the company at around $110million. The proceeds would be used to produce blockchain-based infrastructure for investors and to roll out a mobile wallet and fund management platform. It will also expand in the United Arab Emirates.

Chart build yours FBAd (2).png

Chart build yours FBAd (2).pngScottish fintech Guiide has raised further investment on its retirement planning platform. The investment will also support ongoing development into specific user journeys for member requested transfers from defined benefit schemes.

Meanwhile, Israeli fintech firm Pagaya Investments is said to be seeking to list shares on Wall Street via a merger with a special purpose acquisition company (SPAC) at a $8billion valuation. According to Calcalist, Pagaya is in talks with several SPACs regarding a merger, led by investment bank JP Morgan.

Announcements

The board of directors at the Central Bank of Egypt (CBE) has approved the third edition of the rules for mobile phone wallet payment services. The CBE has also given its approval to the rules for providing loan and digital savings services through the mobile phone wallet.

Launches

Commercial Bank of Dubai has launched the CBD Investr app to become the first bank in the region to offer a robo-advisory investment solution. Developed in partnership with wealthtech firm InvestSuite, the app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.
Dubai

Dubai
Meanwhile, Curve has unveiled a suite of autopilot features that help customers take more control over their money management. Anti-Embarrassment Mode and Curve Cash Auto Spend are available to customers in each of the 31 countries in which Curve operates.

Finally, Forex and CFD trading firm FXPRIMUS has launched its ‘Trade for a Cause’ campaign in partnership with Dubai-based social enterprise Companies for Good. The campaign will provide 1,000 meals for disadvantaged individuals and families across the UAE. Throughout the Holy Month of Ramadan MEAL distributed by the local charity SmartLife Foundation.

  • Claire works across print and online as Editor for The Fintech Times.

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