Exits

Private equity firm Clearlake Capital acquires InsurTech startup Zywave

Private equity firm Clearlake Capital has acquired software-as-a-service provider of front office insurance solutions Zywave from Aurora Capital Partners.

Nubank acquires Easyinvest and moves into the investment space

Brazilian challenger bank Nubank has acquired digital investment platform Easynvest for an undisclosed sum as the Latino FinTech decacorn moves into the investment space.

Why is Pablo Escobar’s brother suing Klarna?

A Columbian drug lord's brother and the biggest privately-owned FinTech in Europe could be heading towards a legal battle threatening to delay Klarna's public listing.

Mode is looking to file an IPO worth £7.5m

UK FinTech Mode is said to be planning to float on the London Stock Exchange, raising £7.5m in the process.

FinTech Ohpen acquires loan and mortgage software company Davinci

Dutch cloud-banking FinTech Ohpen has acquired cross-border loan and mortgages software provider Davinci.

Jack Ma’s Ant Financial files for what could be the biggest IPO ever

Chinese tech powerhouse Ant Financial has filed for what could be the biggest initial public offering ever, which could see the company raise $30bn.

Tandem Bank has acquired Allium Lending Group in a £60m deal

UK challenger bank Tandem Bank has acquired green lender Allium Lending Group as part of a £60m fundraising deal.

It’s official: Airbnb is going public

Airbnb has filed to go public confidentially, which makes an initial public offering likely within the next few months.

FXPress Payment Services acquires Avila House

FXPress Payment Services, the payment services company, has entered an agreement to acquire Avila House, a licensed small electronic money institution, subject to receiving appropriate regulatory approvals.

American Express acquires small business loans FinTech Kabbage

American Express has acquired small business loan platform Kabbage in a deal that will see the payment giant gobble up the Covid-19 beleaguered FinTech's team, solutions and IP.
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Diverse week for FinTech as $1.1bn raised across 17 deals

Diverse week for FinTech as $1.1bn raised across 17 deals

It was a diverse week for FinTech funding, with deals closing across nine different countries.  There were a total of 17 FinTech funding rounds covered...
Sift enhances fraud insights with new metrics in industry benchmark tool

Sift enhances fraud insights with new metrics in industry benchmark tool

Sift, a leading AI-powered fraud prevention platform, has introduced significant updates to its Fraud Industry Benchmarking Resource (FIBR), a free online tool designed to provide key fraud metrics across various industries, geographies, and timeframes.
Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight, a global leader in cyber risk management, has announced its $115m acquisition of Cybersixgill, a prominent cyber threat intelligence (CTI) provider. This strategic move...
FinCEN issues alert on deepfake fraud schemes targeting financial institutions

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.
change communication methods during a verification check.Some identity verification solutions may also flag possible attempts to circumvent verification checks, such as the use of third-party webcam plugins, which can let a customer display previously generated video rather than live video. Use of Deepfake Media in Phishing Attacks and Scams Criminals may also target financial institution customers and employees through sophisticated, GenAI-enabled social engineering attempts in support of other scams and fraud typologies, such as business email compromise (BEC) schemes, spear phishing attacks, elder financial exploitation, romance scams, and virtual currency investment scams.24For example, in family emergency schemes, scammers may use deepfake voices or videos to impersonate a victim’s family member, friend, or other trusted individual.25Similarly, criminals have reportedly used GenAI tools to target companies by impersonating an executive or other trusted employee and then instructing victims to transfer large sums or make payments to accounts ultimately under the scammer’s control.26 Financial Red Flag Indicators of Deepfake Media Abuse FinCEN identified the following red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity related to the use of GenAI tools for illicit purposes.As no single red flag is necessarily indicative of illicit or suspicious activity, financial institutions should consider the surrounding facts and circumstances before determining whether a specific transaction is suspicious or associated with illicit use of GenAI tools. A customer’s photo is internally inconsistent (e.g., shows visual tells of being altered) or is inconsistent with their other identifying information (e.g., a customer’s date of birth indicates that they are much older or younger than the photo would suggest). A customer presents multiple identity documents that are inconsistent with each other.

Folks Finance secures $3.2m in Series A to advance crosschain DeFi solutions

Folks Finance, a DeFi platform specialising in lending, borrowing, and managing digital assets across multiple blockchains, has announced it raised $3.2m in an oversubscribed Series A funding round.
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