Banking Infrastructure

Cloud-native banking technology developer Thought Machine has reached a $2.7bn valuation after the close of its Series D on $160m.

Unit hits $1.2bn valuation, which it claims makes it the first banking-as-a-service platform to reach unicorn status.

Experian, the global consumer credit reporting company, has agreed to acquire MOVA Sociedade de Empréstimo entre Pessoas S.A, a Brazilian FinTech.

Swedish expense management company Findity has raised SEK 50m ($4.9m) as it bolsters its international expansion efforts.

TIFIN, which leverages AI to offer personalised investor experiences, has closed its Series D on $109m.

Irish FinTech company Stanhope Financial Group has received an excess of $10m for its Series A funding round.

Railsr, an embedded finance FinTech formerly known as Railsbank, has raised $46m in Series C funding.

Yapily, an open banking payment platform, has signed an agreement with SCHUFA to acquire finAPI, a provider of open banking solutions in Germany.

Apple has committed $25m via the CNote platform, an Oakland-based FinTech, to support underserved communities across the country.

Masa Finance, a hybrid credit protocol that links traditional financial accounts and assets to crypto holdings to provide a credit report, has come out of stealth and closed a pre-seed funding round of $3.5m.