Infrastructure & Enterprise Software

Balance, a B2B e-commerce payments company, has raised $56m in Series B funding in a round led by Forerunner Ventures.

Finexio, the B2B accounts payables (AP) Payments-as-a-Service company, has completed the first close of its $30m Series B funding round.

It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.

ZEDEDA, which provides a scalable cloud-based orchestration solution that delivers visibility, control and security for distributed edge computing, has raised $26m in Series B funding.

Fonoa, which helps automate tax processes, has closed its Series B funding round as it looks to expand its global tax solutions.

Neon, a FinTech and digital bank driven by the vision of improving the lives of working Brazilians, has raised $80m.

Mahalo Banking, which provides online and mobile banking solutions for credit unions, has raised $20m in funding.

Spain-based financial group GVC Gaesco has signed a partnership with WealthTech giant FNZ to cement its digitisation initiative.

Over a quarter (28%) of self-employed workers in the UK struggle to access the financial services they require, according to research from open banking platform Tink.

Global wealth management platform FNZ has acquired specialised private banking technology firm New Access.