Sector Updates

Paro, which connects finance professionals with companies looking to outsource or augment their accounting and finance teams, has received a $2.25m credit facility.

Payments network Affirm and FinTech Verifone have entered into a partnership that will make Affirm’s flexible payment options widely available on Verifone’s eCommerce and card-present payment solutions.

UK-based supply chain management company Provenance has received an $800,000 investment to support its UK launch.

Digital banking platform for entrepreneurs Rho Business Banking has launched its services alongside the close of an investment round.

Blockchain-based InsurTech platform Candor Insurance has reportedly received a $3m investment.

Singapore-based neobank Stashfin has reportedly received $270m in a funding round comprising debt and equity.

British digital bank Starling Bank has completed an internal fundraise of £130.5m at a pre-money valuation of more than £2.5 billion.

In an industry where many incumbents move at a lethargic pace, the recent partnership between InsurTech Kanguro, focusing on the US Spanish speaking market, initially with pet health insurance, and Cloud Insurance represents a new era in the industry: one of dynamism and innovation.

The Financial Conduct Authority (FCA) is enhancing its support for the FinTech industry by confirming new anti-greenwashing guidance ahead of its enforcement starting 31 May.

Global payables automation company Tipalti has extended its valuation to 2bn, following the close of a $280m funding round.