News from the economy, politics and the financial markets
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Fintech giant Finastra confirms it’s investigating a data breach
An incident disclosure shared with Finastra's banking and financial customers confirms a hacker stole files from a company system.
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SmartBank secures $26M for its personal finance management app
The majority of the aging population in Japan still prefers using cash for transactions, according to a recent report citing government data. In 2023, cashless transactions in Japan totaled 126.7 trillion yen ($885 billion), accounting for 39.3 percent of all spending in the country, said the Japanese government. The government hopes that number reaches 40 […]
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The FTC comes after neobank Dave for misleading marketing, hidden fees
The Federal Trade Commission (FTC) announced on Tuesday that it will be taking action against the online cash app and neobank Dave, which it says used “misleading marketing to deceive consumers.” At issue is how Dave marketed $500 cash advances to consumers that it rarely offered, and the “Express Fee” it charged if customers wanted […]
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Interface.ai raises $30M to help banks field customer requests
Interface.ai, a customer automation platform for banks and other financial institutions, today announced that it closed a $30 million funding round led by Avataar Venture Partners. Twenty million dollars of the round was equity, while the remaining $10 million was in the form of debt. It’s Interface’s first outside capital; the startup had been completely […]
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Concourse is building AI to automate financial tasks
In a typical organization, finance is one of the most important functions. Yet teams are often bogged down by manual workflows. According to a survey by Paylocity, an HR software provider, 38% of finance teams spend more than a fourth of their time on manual jobs, like reviewing invoices. Matthieu Hafemeister, an ex-fintech investor at […]
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Orb founders grew so frustrated dealing with billing at Asana, they built their own billing software
Billing might not be something that the average person thinks about on a regular basis. But for companies — particularly those in the business of selling software — it’s massively important. They rely on billing systems to ensure that customers pay on time and have a range of ways to pay. The trouble is, configuring […]
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Paymob, started by three college friends, lands another $22 million and is profitable in Egypt
Paymob has evolved into an omnichannel gateway offering over 50 methods for offline and online payments to more than 350,000+ merchants.
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Ziina banks $22M as growth explodes for the UAE-based fintech for small businesses
The Dubai-based startup, which now counts 50,000 retail and business customers in the UAE, has netted $22 million led by Altos Ventures.
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Sarah Buchner started as a carpenter when she was 12 — now her AI construction startup has raised $20 million
Construction companies deal with a lot of documents — so many that it can be difficult to process and manage them all. According to one recent survey, a third of construction professionals found accessing documents to be a challenge in completing a project, while a fourth said that inaccurate project paperwork has contributed to a […]
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CloudPay, a payroll services provider, lands $120M in new funding
In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […]
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