WealthTech

TomoCredit, a US startup creating a credit card to help first-time borrowers build credit history, has secured $22m from a Series B financing raise.

Spain-based financial group GVC Gaesco has signed a partnership with WealthTech giant FNZ to cement its digitisation initiative.

Over a quarter (28%) of self-employed workers in the UK struggle to access the financial services they require, according to research from open banking platform Tink.

India-based neo bank Niyo Solutions has reportedly received $30m in funding, just months after closing its Series C on $100m.

BankFi, an embedded banking solutions provider, has expanded into the North America market with the launch of BankFi Americas.

Digitalisation is rapidly transforming investment management and firms are making it a priority. Bricknode, a cloud financial services software developer, has released a new report titled ‘Digital transformation in investment management’. In the report, it covers how cloud and software-as-a-service (SaaS) models are helping investment management firms of all sizes transform their digital services.

UK challenger bank Starling Bank has reportedly scraped plans to launch in Ireland after withdrawing its application for an Irish banking licence.

Insurtech Gateway, a champion of early-stage InsurTech startups, has completed the first close of its Seed Fund II which will support 20 teams over the next four years from pre-seed to Series A.

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

FairPlay, a company seeking to reduce algorithmic bias in lending, has scored $10m in Series A funding.