WealthTech

Digital bank Umba has acquired a 66.6% stake in Kenyan microfinance outfit Daraja as it looks to expand its presence on the continent.

Simplicity is the ultimate sophistication, Leonardo da Vinci once said. However, simplicity can be a double-edged sword when digitising wealth management and the key is finding the right balance.

With every new variant of Covid, the end of the pandemic continues to move further into the distance. These past two years have shown the cruciality of digital services, and firms no longer have a choice to avoid it if they want to stay successful. The trouble is, where does a firm start?

Business payment management solution Spenmo has netted $34m in its Series A funding round.

Alto Solutions, a self-directed IRA platform that helps individuals invest into alternative assets through tax-advantaged retirement funds, has bagged $40m in Series B funding.

Digital commerce and payment provider CellPoint Digital has scored $25m in funding from an equity financing round.

Kroo, a UK-based neobank, has reportedly raised £26m ($33m) in its Series B funding round.

Free investing platform Pluto has raked in $4m in its seed funding round, which was led by at.inc.

Canadian FinTech Pine, which wants to “reimagine the homeownership process”, has raised C$27m comprising of seed and Series A funding.

Professional trading software provider Trading Technologies International (TT) has invested $6.35m into KRM22, a software investment company that focuses on risk management for capital markets.