Infrastructure & Enterprise Software

The Monetary Authority of Singapore (MAS) has rejected eight out of the 21 digital banking applications submitted by the beginning of the year, but more are heading for the chopping block.

Investment platform Allfunds has purchased FinTech business Finametrix, a provider of digital services to asset managers.

Core banking platform Tuum has scored €15m in a Series A round of funding, with Portage Ventures leading the round.

PortX is a new entity launched by ModusBox. The company is focused on financial services integration software that unlocks access to banking core data, eliminates vendor dependencies and enables banking-as-a-service solutions.

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

Credit company CRIF and payment technology enterprise SIA have inked a strategic partnership agreement to offer open banking services and applications in Italy and Europe.

Payroll connectivity platform Pinwheel secured $20m in a Series A funding round led by Coatue.

Recko, an AI-powered reconciliation of digital transactions service, has scored $6m in its Series A round which was led by Vertex Ventures.

Payroll startup OnPay has bagged $6m in its Series A round, which marks its first batch of external financing.

Israel-based WaveBL, a pre-eminent provider of electronic Bills, has successfully clinched $26m in a recent funding round, cementing its standing as a global frontrunner in the digital trade document industry.