Allianz Commercial will transfer its standalone cyber insurance portfolio to Coalition as part of a long-term partnership to consolidate the global cyber insurance market.  The agreement establishes Coalition as Allianz’s exclusive global partner for commercial cyber insurance across all segments, combining Allianz’s scale, distribution reach and balance sheet strength with Coalition’s data-driven, prevention-focused underwriting model. This collaboration is set to accelerate...

Payward, a unified financial infrastructure platform and parent company of digital asset exchange Kraken, has signed a definitive agreement to acquire Reap Technologies Holdings Limited, a stablecoin-native card issuing and payments infrastructure company, in a deal worth up to $600m. The transaction will be settled through a combination of cash and Payward stock, with the deal implying an equity valuation...

StarCompliance, a leading provider of employee and firm compliance technology, has unveiled StarAssist, a new AI-powered capability designed to deliver greater clarity, speed, and explainability to compliance decision-making. StarAssist sets itself apart from standalone AI tools by being fully embedded within the STAR Platform rather than operating as a separate overlay. This allows firms to accelerate their workflows whilst preserving...

InsurTech firm Corgi has reached unicorn status after raising $160m in Series B funding at a $1.3bn valuation. The round brings Corgi’s total funding to more than $268m and marks a significant milestone in its ambition to rebuild core insurance infrastructure using artificial intelligence and automation, according to FF News. The company is focused on replacing fragmented legacy systems across underwriting,...

Pit, a Swedish AI startup developing custom enterprise software, has emerged from stealth with $16m in seed funding led by Andreessen Horowitz, as it looks to replace manual business workflows with AI-driven systems. The funding will support Pit’s global expansion and continued development of its platform, which is designed to help enterprises move away from fragmented tools and manual processes. The...

Fazeshift, an AI-native platform that deploys autonomous agents to carry out end-to-end accounts receivable workflows, has secured $17m in Series A funding, bringing its total capital raised to $22m. The round was led by F-Prime, with contributions from Gradient — Google's early-stage AI fund — alongside Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, and a number of prominent angel investors....

The Australian Securities and Investments Commission (ASIC), the country's corporate and financial services regulator, has issued an urgent call to all licensees and market participants to strengthen their cyber resilience as frontier artificial intelligence accelerates the global threat landscape. In an open letter to industry, ASIC warned that although cyber risk is not new, the misuse of cutting-edge AI models...

Boost Security, an AI-native software development lifecycle (SDLC) defence platform, has announced the acquisitions of SecureIQx and Korbit.ai, alongside $4m in new funding. The additional capital was provided by White Star Capital, Amiral Ventures, Accelia Capital, and Sorensen Capital, and will be directed towards further development of the company's platform. The two acquisitions bring complementary capabilities to Boost Security's existing offering....

Eventus, a global trade surveillance and financial risk solutions provider, has appointed Cameron Routh as its new CEO, succeeding founder Travis Schwab. Routh brings more than 20 years of experience leading financial technology businesses. Schwab, who established Eventus 11 years ago, grew the company into a multi-award-winning global leader in trade surveillance solutions before stepping back from the role. Routh most...

One Identity, a unified identity security provider, has named Randy Menon as its new chief product and marketing officer (CPMO), bringing over 20 years of enterprise software leadership to the role. Menon will take responsibility for product management and marketing as One Identity works to expand its capabilities in identity and privileged access management, addressing the increasingly complex identity security...