WealthTech

Capital market-focused FinTech company Smallcase raised $40m in funding, led by Faering Capital as well as new investors Amazon Smbhav Venture Fund and Premji Invest.

UK FinTech firm Revolut is set to launch Payday, an earned wage access platform that will enable employees to track and have instant access to the money they have earned.

Cloud-based software solution Enable has secured $45m from a Series B funding round led by Norwest Venture Partners.

401GO, which helps small businesses implement 401k plans for their employees, has bagged $2m in its Seed round.

Carrier billing business Boku has unveiled a mobile payments network that it claims will reach 5.7bn payment accounts in 90 countries.

India-based Klub, a financing platform aimed at brands with high customer engagement, has reportedly netted $20m in a seed funding comprised of a mix of equity and debt.

A trial conducted by central banks in Thailand and Indonesia will see the implementation of cross-border QR payments across both countries.

London-based PayTech firm Sokin has introduced the first subscription-based global payments solution in the UK and European markets.

Wealth management institutions have been dealing with greater complexity in areas of compliance and regulation. As the number of jurisdictions increases, so does potential liability and, as a result, global companies must embrace digitalisation to stay clear of legal hot waters.

Digital investment app Bitpanda has more than tripled its valuation within four months, after a fresh funding round puts its enterprise value at $4.1bn.