Sector Updates

Zurich North America, a seasoned provider of cyber risk solutions, has launched a unique cyber insurance product tailored specifically to cater to the needs of middle market businesses. The company, a leading provider of insurance solutions and services to various industries including agriculture to technology, forms part of the globally-renowned Zurich Insurance Group.

Peer-to-peer lending firm Prosper is in talks with a group of investment firms to sell $5bn worth of loans over the next five years.

Prudential Financial, in partnership with LeapFrog Investments Group, is to acquire a strategic minority interest in Alexander Forbes Group Holdings, a provider of financial advice, retirement, investment and holistic wealth management services in South Africa.

Converged Security Solutions (CSS) has acquired cybersecurity company Maverick Cyber-Defense to expand its end-to-end security solutions.

Salary Finance, a financial wellness solution for employees, has collected a $32.8m Series C to support US expansion.

Payment Club, a subscription-based POS service provider, has raised $7m in its latest financing round.

Lumos is a new compliance and identity management solution that has launched from stealth along with a $30m funding round.

Auradine, a pioneering force in web infrastructure solutions, has successfully closed its Series B funding round, amassing over $80m.

Open banking platform Bud has secured $20m in its Series A round of funding.

France-based online banking platform Qonto has reportedly picked up a €10m Series A funding round.