FinTech sector gathers momentum


The FinTech sector gained momentum this week with a total of 24 deals and over $800m raised.

Stealing the show this week was CyberTech firm Netskope, which closed an oversubscribed round on $401m.

Netskope offers a SASE platform that helps organisations apply zero trust principles to protect data. It boasts real-time security and optimised access for people, devices and data anywhere.

UK companies performed well this week, with three companies making it into the top ten deals. CyberTech firm Hack the Box scored $55m, InsurTech Superscript raises $45m in Series B funding and PropTech company Fractal Homes collected $30m.

It was not just this past week that saw UK companies do well. FinTech Global Research recently reported that UK companies took the top two spots for the largest FinTech deals in 2022, showing the country’s dominance in the sector last year.

Notably the US only had three deals on the list compared to five last year. Average deal size in the top ten list for 2022 was $800m, a massive 47% drop compared to 2021’s average deal size of $1.5bn.

The large drop in average deal size shows the shift in attitude from VCs. VCs have seen huge drops in public company valuations in 2022 which have led them to be more conservative when valuing companies in the private market to avoid being caught out. Klarna, a buy now pay later company, is a good example of this with their valuation dropping 85% at their latest round in July 2022.
The US also continued in much the same style this past week as last year, with five US companies making it into the top ten.
Also performing well this week was the InsurTech sector. Two InsurTech companies Superscript and Joyn Insurance made it into the coveted top ten, raising $45m and $17.7m, respectively.
A third InsurTech company, TONI Digital, almost made it with a $12.5m Series B raise. However, the Switzerland-based company was edged out of the tenth spot by German PayTech company Mondu, which raised $13m.
Here are the 24 deals that took place this week.

Netskope closes $401m round 

Netskope, a secure access service edge (SASE) provider, has closed an oversubscribed investment round on $401m.

The convertible note investment round was led by funds managed by Morgan Stanley Tactical Value. Additional support came from Goldman Sachs Asset Management, Ontario Teachers’ Pension Plan, and CPP Investments.

With the funds, the company plans to extend its technology and platform, as well as bolster the expansion of its strategic go-to-market activities. The company also hopes it can increase its market reach, which it claims is on track to be a $36bn market opportunity by 2025.

Netskope offers a SASE platform that helps organisations apply zero trust principles to protect data. It boasts real-time security and optimised access for people, devices and data anywhere.

Netskope CEO and co-founder Sanjay Beri said, “Our vision from day one was that traditional network and security perimeters would transform, with users, data, and devices moving outside the confines of corporate network perimeters and requiring a new approach to security.

“With a cloud-first, data-first, and customer-centric philosophy, we built a market-leading SASE platform and one of the world’s fastest and most-connected security cloud networks.”

Over the past year, the company has increased its customer base to exceed 2,400 people around the world. Its customers include over 25 of the Fortune 100, and across all verticals including financial services, healthcare, retail, telecommunications, manufacturing, government, high tech, and more.

40Seas secures $111m

40Seas is a new cross-border trade financing solution launched out of stealth following the close of an $11m seed funding round plus $100m in a credit facility.

Team8, a global venture group focused on technology, served as the lead investors. Other contributions to the seed round came from ZIM Integrated Shipping Services Ltd.

Alongside the equity, 40Seas received a $100m credit facility for exporters and importers. ZIM provided 40Seas with the three-year, account receivables based, senior secured, revolving credit facility of approximately $100m. It has an option to extend it to $200m.

As part of the deal, ZIM will embed 40Seas into the freight forwarding services offered by Ship4wd, its digital freight forwarding subsidiary. Through this, ZIM’s SME customers will have access to the digital financing solution.

40Seas was created in conjunction with Team8’s Fintech Foundry. Its aim is to close the $1.7trn global trade finance gap by providing a solution that enables digital B2B payment functionality while facilitating cross-border trade between SMEs.

The Organization for Economic Cooperation and Development (OECD) claims that SMEs account for 43% of cross-border trade volume. Despite this, they are seven times more likely to be denied access to trade financing than multinational companies, according to the World Trade Organization.

40Seas added that the SME cross-border trading industry has been hindered by siloed banking jurisdictions, working capital constraints, trust issues, legacy processes, interest rate gaps and FX volatility.

Through AI and data-driven technology, 40Seas can offer flexible payment options that are primed to disrupt legacy trade-financing solutions. It can also extend the accessibility of working capital for SME importers, exporters, freight forwarders and sourcing agencies.

Hack The Box raises $55m

Hack The Box, a gamified continuous cybersecurity upskilling, certification and talent assessment platform, has raised $55m in its Series B.

The funding round was led by global investment giant Carlyle. Other contributions came from Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures and Endeavor Catalyst Fund.

The gamified continuous cybersecurity platform hopes the Series B will bolster its growth trajectory. It plans to deepen its suite of “gamer-first” solutions offering.

Funds will also help the CyberTech company continue its international expansion efforts, with focus placed on the US, Europe and APAC.

Chief information security officers and other senior cybersecurity decision-makers are using Hack The Box to assess how secure their organisations look from an attacker’s perspective. They also use the platform to improve their human defence element through a performance-driven training.

The CyberTech company claims to have tripled in size over the past two years and has a global hacking community of over 1.7 million members.

Its platform, which launched in 2017, is an online cybersecurity training platform that offers virtual hacking labs to cover all skills. It also boasts hands-on penetration testing and scenarios that mimic real-world threats.

Paytient scores $40.5m

Paytient, which created the Health Payment Accounts (HPAs), has raised $40.5m for its Series B round, which was composed of debt and equity.

The FinTech received $33m in equity from new and existing investors and $7.5m in debt from Silicon Valley Bank.

Mercato Partners Traverse Fund led the Series B round, with Bertelsmann Investments also participating. Existing Paytient investors to join the round included Lightbank, Felicis Ventures, Box Group, Lachy Groom, Left Lane Capital, Commerce Bank, Crossbeam Ventures, Cultivation Capital and Inspired Capital.

With the funds, Paytient plans to scale its growth and product development in 2023 and beyond.

Founded in 2018, Paytient partners with employers and insurers to empower Americans to easily pay out-of-pocket healthcare costs. Its HPAs provide a new source of funds — interest-free credit on a Visa card — and an app that allows cardholders to set up flexible repayment plans that fit their budget.

The HPAs work by employers, health systems, and insurers partnering with Paytient to provide HPAs to employees and members. The members then activate their Paytient Visa card and download the app.

When a member uses that card, Paytient will pay the provider in full. The user can then set the repayment timeline and source of funds.‍‍

Superscript scores $45m

Superscript, a digital-first insurance provider to small businesses and high-growth tech firms, has scored £45m in a Series B raise.

The round was led by existing investor BHL UK and saw participation from new investor and Fortune 500 insurer The Hartford. Existing investor Concentric also took part.

Superscript covers both simple and complex risks through a highly personalised experience and deep level of customer engagement. This is enabled through its proprietary triaging technology and unique multi-carrier model, which gives it access to insurer capacity across broad markets and regions.

Modern businesses with complex risks get bespoke coverage through the advisory and broking service, known as SuperscriptQ. Whereas, less complex businesses can get covered in a matter of minutes through the online platform.

Superscript became the first UK InsurTech to land a Lloyd’s of London broker licence in 2020, and launched the first Lloyd’s-backed product for digital asset businesses last year. Superscript also opened an office in Rotterdam to support growth plans across Europe.

According to Superscript, the funding will develop its underwriting and broking capabilities, enhanced by machine learning, as well as to grow its range of dynamic insurance products and services for international distribution.

Fractal Homes scores $30m

Fractal Homes, a UK-based start-up offering fractional home ownership across the capital cities of Europe, has scored $30m in a seed round.

Fractal aims to make second home ownership affordable, accessible, and hassle-free through its managed co-ownership model. Fractal believes it is in a powerful position to disrupt the second home ownership market in metropolitan cities across Europe, by offering access to prime properties at accessible prices.

The founders of Fractal want to upend conventional second home ownership. The company offers access to prime real estate at a fraction of its cost; creating a much lower entry point for Middle Eastern buyers looking to acquire a luxury second home in Europe.

The company plans to grow its headquarters in London, with a particular focus on sales, marketing, and engineering hires. Fractal is also looking to expand its presence abroad next year with a base in Abu Dhabi.

The debt capital will go towards the acquisition of luxury properties in sought-after destinations in West London — such as Knightsbridge, Notting Hill, Chelsea, Kensington and Mayfair.

Butter secures $22m

Butter, which has built a payments technology to fix payment failures, has secured $22m in its Series A funding round.

US-based growth equity firm Norwest Venture Partners served as the lead investor. Existing Butter investor Atomic joined the round, alongside Transpose Platform and Spring Tide Capital.

Butter stated that accidental churn is the single leading cause of subscription churn and results in $500bn in lost revenue on account of false declines per year. These declines are caused by an attempt to combat fraud. Many companies are unaware this is even a problem, and those that know of the issue have no idea how to fix it.

The best way to solve the problem is to parse through the metadata in real-time to make decisions on which transactions should be authorised. Most firms do not have this capability, Butter said.

As a solution to the challenge, Butter has created the Recovery engine. This is powered by machine learning and automates the decisions in real-time.

Doorstead raises $21.5m

Doorstead, a property management service the protects homeowners who rent out their properties, has raised $21.5m in Series B funding.

Avanta Ventures, Madrona, MetaProp, and M13 participated in the round, which brings the company’s total funding to $37m.

Doorstead also acquired Knox Financial’s Massachusetts portfolio, which the company said will allow it to expand its services to homeowners and renters on the East Coast, US.

Founded in April 2019 by co-founders Ryan Waliany and Jennifer Bronzo, Doorstead provides uprfront rental guarantees and a property management service to homeowners that offers homeowners an upfront vacancy period and a guaranteed minimum monthly rent before a tenant is placed.

Waliany and Bronzo founded the company after experiencing the property management industry’s operational shortcomings firsthand and decided to build a new property management system with a rental guarantee.

Doorstead’s services also include getting a property rent-ready, to conducting showings and screening tenants, inspecting the property, taking care of maintenance requests, and more.

Additionally, as part of this round, Steve Bernardez, partner at Avanta Ventures, will join Doorstead’s board of directors.

This Series B round follows a $3.3m seed round in 2019 led by Santa Monica-based M13. Doorstead then went on to raise a $12.5m Series A round led by Seattle firm Madrona Venture Group.

JOYN Insurance raises $17.7m

Joyn Insurance, an insurance technology company, has raised $17.7m in Series A funding led by OMERS Ventures.

The round also saw participation from Avanta Ventures, ManchesterStory, Cohen Circle, SiriusPoint and several private individual investors.

Launched in July 2021, Joyn Insurance Services is a Delaware-domiciled, licenses producer and general agent that underwrites commercial insurance in the small and middle markets.

The company integrates insurance, data and technology expertise to provide a faster, more accurate and more transparent experience. Joyn said this saves time, costs, and frustration

The funcing, which brings the company’s total raised to more than $30m, will be used to further enhance its technology platform and data capabilities, as well as to demonstrate the value of its innovative technology-driven insurance offerings.

Since entering the market, Joyn has bound more than 500 policies with approximately 80 trading partners, covering more than 300 insureds.

Today, Joyn offers E&S coverage for property, general liability and excess for companies across more than 700 NAICS codes in 36 states and Washington, D.C.

Mondu extends Series A

B2B payments company Mondu has extended its Series A funding round by $13m, as it looks to bolster its market growth.

The FinTech company previously secured $43m for the Series A in May 2022. This capital was supplied by Valar Ventures, Cherry Ventures and FinTech Collective.

Founded in 2021, Mondu claims to have experienced an impressive first year, having scaled quickly, entered new markets and launched several products.

Since the first tranche of Series A funding, Mondu launched the payment by instalments services, and expanded into Austria and the Netherlands.

With the fresh Series A capital, the B2B payments company will further its market growth and product development. It is also seeking new use cases for its B2B payment products, such as an omnichannel solution.

The investment was led by Valar Ventures, with support also coming from the FinTech Collective.

Germany-based Mondu offers B2B BNPL service at checkouts, allowing companies to select flexible repayment terms. It also offers split payments where a bill is evenly spread across six monthly instalments.

TONI Digital scores $12.5m

TONI Digital, a Switzerland-based InsurTech startup, has raises $12.5m in a Series B funding round for its insurance-as-a-service solution.

According to a report from FinTech News Switzerland, the round was led by a consortium of distinguished investors and included the participation of existing investors, who continue to believe in the success and growth of the company.

Founded in 2017 and based in Zurich, the company aims to dismantle the old insurance value chain and build a value network with trusted partners.

As a digital insurance-as-a-service provider, TONI Digital offers personal and commercial insurance lines such as motor insurance, payment protection insurance, and life solutions on top of its insurance technology platform.

The InsurTech primarily pursues a B2B2C approach, working with leading retail and insurance brands as well as brokers on the distribution side.

TONI works with several insurance companies such as Munich Re, Helvetia, Vaudoise, Assista, and ERV to offer the different coverages. collects $12m

Singapore-based B2B BNPL and insurance player has collected $12m in its pre-Series A funding round, as it explores global expansion efforts.

The investment was backed by 1Digi Ventures, Singapore, which is the family office of Raghunath Subramanian.  Subramanian is also the founder and global CEO of

This pre-Series A funding includes a $5m investment supplied by 1Digi Ventures in 2022.

Funds have been earmarked for global expansion, product enhancement, portfolio growth and talent acquisition.

The FinTech company said it has experienced a strong 2022, with its total BNPL throughput exceeding $100m. offers B2B BNPL and insurance products, with the aim of transforming the global B2B supply chain by making business transactions faster and easier. It has four core products, actyv Go, actyv Score, actyv PayLater and actyv Insure.

Its actyv Go service automates and accelerates onboarding and offboarding processes, with features including digital document collection, information extraction, data verification, fraud checks and more.

SardexPay raises €4m and appoints president

Italian payments company SardexPay has reportedly raised €4m in funding, alongside the appointment of a new president.

SardexPay’s new president is Paolo Galvani, who is the co-founder of Moneyfarm, according to a report from Be Beez. Galvani replaces Carlo Mannoni, who will retain a position on the SardexPay board of directors.

Details on the €4m funding round were not disclosed.

The fresh investment follows a €1.2m crowdfunding campaign on the BacktoWork platform. The crowdfund received contributions from 295 investors, including Banca Etica.

Prior to that, SardexPay secured €5.8m in an investment led by Cdp Venture Capital and supported by Fondazione Sargegna and Primo Ventures.

According to its website, SardexPay claims to be a new payment method with a complementary currency that adds value to the business. Companies pay exchange Sardex for goods and services.

Its platform includes a marketplace of thousands of companies from across Italy.

Jumbo picks up $3.5m

Jumbo, a provider of a decentralised exchange built on the NEAR Protocol, has picked up $3.5m in funding.

The round was led by Pantera and Huobi Incubator, with participation from DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity, and Genblock Capital.

According to FinSME, Jumbo is an AMM-powered decentralized exchange based on the NEAR Protocol that offers a cheap way for anyone to trade. Jumbo Exchange also employs HAPI, a novel security system that uses know-your-transaction (KYT) technology to ensure safety and security of users.

So far, the exchange has garnered $19.5 in total value locked (TVL), $745 million in cumulative volume, and has a user base consisting of more than 20,000 unique wallets.

The company has revealed its development plans for the new year, including smart route trading, staking and more to come across Q1.

Jumbo intends to use the funds to develop user-friendly design and feature offerings.

InvestSky $3.4m

InvestSky, a social investing platform for retail investors, has secured $3.4m in its pre-seed funding round, to support its mission of making investing more inclusive.

Emkan Capital, an investment firm focused on technology companies, served as the lead investor. Other backers included S3 Ventures, Al-Romaizan Family office, Jahez deputy CEO Mishal Al-Mishari and other angel investors.

Founded in 2021 by Nitish Mittal and Turki Alshaikh, InvestSky is a social investing, commission-free platform aimed at the next generation of investors in the Gulf Cooperation Council (GCC). Their aim is to make investing inclusive, intuitive and informed.

Through the platform, users can buy fractional stocks, starting from $1, and access a social community to collaborate. The platform will also offer market intelligence data to help investors make more informed decisions aligned with their investment principles, whether that is shariah-compliance or positive social and environmental impacts.

Relio nets $3.26m

Relio, the new FinTech from Penta founder Lav Odorovic, has secured CHF 3m ($3.26m) in funding to support the launch of its services.

The investment was led by TX Ventures, with commitments also coming from SIX FinTech Ventures, High-Tech Gründerfonds, F10, daFUND, QBIT Capital and several business angels.

With this funding, Relio is launching its digital payment account for business customers. Capital will also help Relio bolster the development of the tech stack and obtain a FINMA Fintech licence.

It stated that neobanks often encounter compliance challenges when servicing corporate clients. Due to complex ownership structures, international money flows and complicated business models pose higher risks in terms of fraud and money laundering.

Additionally, many corporate clients have to wait weeks to open an account and often have transactions and accounts frozen until a manual screen is conducted.

Relio has built an automated compliance framework that performs these checks accurately and quickly, shortening possible delays and bureaucracy.

The company enables users to open an online Swiss business account, which boasts no minimum deposit amount. Its features include international payments, smart debit cards, and software integrations.

Detected scores £2.5m

Detected, a FinTech specialised in extracting actionable anti-fraud data from enterprise payment accounts, has raised £2.5m in an ongoing seed round totalling £6m.

According to a report from, the funding came from investors including Thomson Reuters’ Ventures unit.

Existing backers also included the Canadian VC Maropost Ventures and EmergeVest, an investor specialised in Asian growth strategies, along with angels Huw Slater (COO, Travelperk,) Stephen Garland (ex-TrustPilot CTO) and Detected chairman Rob Barnett (ex-RBS COO).

Founded in 2020, the anti-fraud RegTech company claims to transform know your business compliance into a competitive advantage. It does this by streamlining lengthy onboarding processes that also can adapt to new regulatory changes.

The company was created by Liam Chennells, after he found it a time-consuming or impossible to find reliable information.

The startup believes that manual “know-your-business” checks are notoriously cumbersome.

Prograd collects $2.5m

Prograd, which is aimed at helping young people boost financial literacy, has reportedly collected $2.5m in its seed funding round.

Contributions to the round came from Deloitte Ventures, Techstars, ZAKA Ventures, AGAM, Trouva founder Mandeep Singh, and other new and existing angel investors, according to a report from Financial IT.

With the funds, Prograd hopes to expand its marketing and development capabilities, bolster its digital footprint, release and app and improve its algorithms.

Founded by Ethan Fraenkel and Marco Logiudice, Prograd aims to help Gen Z set up financial goals and access tools to improve their financial literacy.

Its founders came up with the idea for Prograd whilst struggling to find sustainable financing options to cover the cost of their master’s degree. They soon realised they knew little about the finance world and eventually took out personal loans with high-interest rates that made them pay back double the amount they borrowed.

Through the platform, users can learn about money, understand how to multiply their funds, learn of risks and more.

e.pop scores $1.6m

e.pop, a smart receipt FinTech with a mission to transform the payment ecosystem for merchants and consumers, has snared $1.6m in seed financing.

e.pop claims it is seeking to transform the payment ecosystem for merchants and consumers as well as eliminate paper receipts waste.

The start-up has an office in London and a presence in the Middle East, and has developed a two-sided platform connecting consumers and retail merchants via a smart digital receipt.

The e.pop ecosystem delivers merchants and partners uniquely granular insights into consumer behavior as well as new channels by which to engage, advertise and market to existing and new shoppers.

For consumers, the e.pop solution provides greater control and security over the use of personal contact data and a single mobile app to receive receipts, discounts, return notifications and track spending across accounts.

Transfeera collects $1.3m

Brazil-based FinTech company Transfeera has reportedly raised BRL 7m ($1.3m) in funding.

The investment was led by Honey Island and 4UM Investimentos, which are both Brazilian investors focused on FinTech, according to a report from Startupi.

Other commitments came from Bossanova Investimentos, Opus, Goodz Capital and Curitiba Angels.

Founded in 2017, the company is confident the funding will place it in its next phase. The capital will be used to support its product team and accelerate the enhancement of its solutions.

Transfeera serves over 470 customers and moved around BRL 12.8bn ($2.5bn) in 2022 and experienced a growth of 206% in transactions completed. The company claims to complete over one million transactions each month.

The company claims to have launched the first payment initiation API aimed at PIX, which is an instant payment system created and managed by Banco Central do Brasil.

Transfeera provides companies with the tools to process, manage and automate payments securely, transparently and quickly.

FLIK secures $1.1m

FLIK, an Indonesian FinTech platform that offers a unified checkout solution, has reportedly secured $1.1m in its pre-seed funding round.

The investment was led by East Ventures, according to a report from East Ventures is a sector-agnostic venture capital firm that has backed over 250 tech companies in Southeast Asia.

Other commitments to the round came from Init-6, GMO VenturePartners and Saison Capital.

FLIK provides companies with a frictionless checkout system.  For shoppers, the platform serves as an all-in-one account for all e-commerce, removing the need to manage separate accounts. It boasts that customers can complete a purchase with a one-click checkout on sites they have never shopped at before.

Its platform also allows users to manage products from any merchant in a single cart, and they can track all their orders from a single location, including managing personal preferences for payments, addresses and shipping.

As for businesses, FLIK allows users to manage the whole payment lifecycle, including acceptance, reconciliation and settlement of funds. It also provides insights to help track money, sales and shoppers. nets $1m, an Austrian health insurance startup that acts as an intermediary between customers of private health insurance and their services, has raised $1m.

According to a report from SuperFounders, the funding round was led by local venture capital fund Speedinvest, with participation of the American fund Pacific 8 Ventures and the British fund Seedcamp.

The total amount of the investment is undisclosed.

Reportedly the funds will be used to further expand’s product and to enlarge its team that currently counts seven people. was founded in July 2018 by entrepreneurs Frederik Debong, a former founder of mySugr, and his friend Sebastian Gruber.

The Vienna-based startup is dedicated to personalising healthcare pathways. The company aims to provide a smooth and convenient way to work with user’s healh insurance and to get the best fitting help for their condition.

Users can submit their invoices digitally. then takes care of processing, billing and customer service.

kompasbank secures funding

kompasbank, a Danish commercial bank dedicated to SMEs, has closed a capital round of DKK92m.

The company previously completed a Series A round in 2021, when it raised a total of DKK215m. It has raised more than DKK300m since receiving the banking licence.

The capital increase, which was driven by both new and existing investors, gives the bank the opportunity to expand its customer relationships and provide additional services to SMEs in Denmark.

Michael Hurup Andersen – co-CEO and founder of kompasbank – said, “In 2022, we have sought to make it clear that by listening to the needs and wishes of small and medium-sized companies, we can deliver a value proposition that, in the combination of technology, banking, data and products, can solve the challenge that Danish SMEs have with better and faster access to loans and financing.

Fenris receives funding 

Fenris, which provides insurers with predictive scoring and data products, has received an undisclosed investment from Virginia Venture Partners.

Based in Virginia, Fenris is a software and data company that offers next generation predictive scoring and data products to the insurance industry for full lifecycle improvement.

It claims that many insurance carriers and agencies are spending billions to attract and retain customers, but lack actionable, real-time insight for customer acquisition. Fenris is designed to solve this.

It achieves this through its API solution for instant insight and data on every applicant and policyholder, which enables greater personalisation, prioritisation and optimisation, it claims.

The InsurTech company claims to have established one of the largest insurance data repositories in the industry, boasting data on 255 million adults, 130 million households, 30 million small businesses and 99% of all properties. With this, it offers prefilled payloads for auto, home, life and small business.

Fenris claims this API has improved completion rates by a factor of four-times.

It is unclear when Virginia Venture Partners’ first invested into Fenris. However, since the previous investment, Fenris claims to have expanded its client base to include dozens of insurance clients. With this it claims to be enabling millions of quotes for insurance through its prefill service.

Cryptiony secures €500,000

Cryptiony, a cryptocurrency tax automation platform, has reportedly secured €500,000 in pre-seed funding, supporting its launch in the UK.

New York-based investment firm ff Venture Capital served as the lead investor, according to a report from FinTech Finance News. Commitments to the round also came from Pointer.Capital and web3-focused angel investor Marcin Wenus.

Funds from the round will help the company, which was previously bootstrapped, to launch its services in the UK. Capital will also be used to hire more development staff, release new features and establish new exchange and blockchain integrations.

It claims to have established a strong market position in Poland, experiencing a tenfold increase in subscriber numbers in 2022. Its goal is to become the leading platform across Europe by 2025.

Founded in 2021 by Bartosz Milczarek (CEO) and Hanna Milczarek (CMO) and Krzysztof Dworakowski (CTO), Cryptiony offers a cryptocurrency tax automation platform. Its dashboard allows users to make crypto tax calculations, conduct their reporting and handle portfolio management.

AccessFintech gets backing from BNP Paribas

AccessFintech, a firm helping the capital markets’ operating model evolve through data and workflow collaboration, has scored an investment from BNP Paribas.

The round was led by WestCap. AccessFintech has now secured investment from the world’s largest financial institutions including Bank of America, BNY Mellon, Citi, JP Morgan and Goldman Sachs.

The investment is being made by BNP Paribas’s Securities Services unit, the bank’s post-trade arm. It will enable BNP Paribas to provide its Corporate and Institutional Banking clients with the latest technology, data and workflow tools in a context of shortening settlement cycles.

Clients will also be able to enhance operational efficiency thanks to the use of AccessFintech’s Synergy data collaboration network.

AccessFintech claims Synergy helps market participants reduce collateral needs and compress transaction costs through data collaboration, accelerated workflows and AccessFintech’s cloud-based approach to data governance and normalisation.

Furthermore, Synergy helps organisations meet regulatory requirements through mutually managed network solutions. Synergy services the leading global banks and broker-dealers, custodians, asset managers and hedge funds.

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