Fintech, Finance, Technology, Banking Highlights – 16 November 2018
Mobeewave Closes US$16.5M Series B Round led by NewAlpha, Mastercard and Forestay Capital
Mobeewave, pioneers in in-person contactless payment acceptance, announces that it has closed a US$16.5 million Series B round of funding led by NewAlpha Asset Management, Mastercard and Forestay Capital.
Including the main founding shareholders of the company and secured with the support of Oakland Partners, the strategic funding will enable Mobeewave to continue to deploy its patented solution in markets around the world and develop new product offerings.
The Montreal-based startup is the world’s first and only provider of mobile payment solutions which enable secure contactless payment acceptance on smart devices, without the need for external hardware. In line with payment industry security standards and offered as a white-label solution, Mobeewave’s bring-your-own-device technology allows financial institutions, network providers and non-profit organizations to serve their clients and merchants with an inexpensive and convenient alternative to traditional point-of-sale offerings. Earlier this year, Mobeewave signed a global partnership agreement with Samsung Electronics making the Canadian FinTech’s platform available for commercial use on more than 250 million Samsung devices around the world.
The Mobeewave platform is currently deployed in Australia, Canada and Poland through respective partnerships with Commonwealth Bank, National Bank, and Polskie ePlatnosci (“PeP”), together with Mastercard. Further rollouts are to be announced in the coming months. This new round of investment will be key to Mobeewave’s growth strategy as it continues to establish a leading position in target markets and will support the deployment of its platform through strategic alliances with banks and payment facilitators, as well as expanding the company’s head count.
Wealth management company d1g1t raises CAD$9m
D1g1t, the enterprise financial technology company serving the wealth management industry, announced that it has closed its second round, Series A financing to fund the continued growth of its enterprise digital wealth management platform.
Powered by advanced analytics and risk management tools, the d1g1t platform offers transparent portfolio management services to professional advisors and their individual investors.
d1g1t has raised in excess of CAD $9 million over two private investment rounds lead by Purpose Financial, which is headed by Som Seif and backed by the Ontario Municipal Pension Retirement System (OMERS). Other investors in d1g1t include highly-regarded Fintech investors Extreme Venture Partners and Portag3, as well as a distinguished group of angel investors and d1g1t clients.
Through an innovative cloud-based technology platform, d1g1t delivers to financial advisers and their clients greater transparency and enhanced communication that generates trust, as well as an enriched client experience. Its advanced enterprise-wide portfolio and client management capabilities enable advisors to better manage their portfolios and provide their clients with sound investment decision support based on individualized goal-based planning tools, sound risk management and investment analytics.
Xinja goes live with SAP Cloud for Banking
Xinja announced that it is live on SAP Cloud for Banking, after a rapid three-month implementation.
While this is a global first for SAP, it also allows Xinja to accelerate development of innovative solutions for customers to make banking as easy and engaging as possible
Xinja has implemented SAP Cloud for Banking which comprises: SAP S/4HANA Finance; SAP Banking (Loans and Deposits), SAP Payments Engine, running on SAP Cloud and managed by SAP Cloud Application Services.
SAP Cloud for Banking is an easy to configure, open platform, that is agile, collaborative and simple to integrate. It allows for rapid innovation cycles and leverages the power of SAP HANA to deliver a data-driven customer experience. With an API-driven architecture and SAP’s Open Banking readiness, SAP Cloud for Banking enables Xinja to be prepared for the forthcoming Open Banking regulation.
“We were very considered in our choice of core banking partner, and we selected SAP because it had both the experience and imagination to work alongside us and kick-start the consumer banking revolution in Australia – something it has now proved,” said Xinja Chief Executive Officer, Eric Wilson.
Genesis secures $3m Series A funding from Illuminate Financial and Tribeca Angels
Genesis, the international capital markets software firm, announced the completion of its Series A financing round, securing a total of $3m from Illuminate Financial, a U.K. based capital markets venture capital firm and Tribeca Angels, a New York venture group.
genesis was founded in 2015 by Stephen Murphy and James Harrison, who have held senior roles at leading investment banks and capital markets software vendors around the world. Confident that the industry needed a different approach to innovation, genesis has dedicated the past 4 years to building a microservices technology framework designed specifically for the world of capital markets. This technical framework helps clients from buy-side, sell-side, execution venues and clearing houses address the many varied and highly complex industry challenges. These range from meeting wide-reaching regulatory requirements, to finding ways to optimise cost and relieve margin pressure; from developing tightly defined products and solutions to wholesale reframing and reimagining business models. Whatever the requirements, capital markets institutions are all being challenged to digitise in order meet the demand for smarter end-to-end workflows and deliver real-time, valued insights.
genesis’ microservices framework enables the development and deployment of a range of agile, scalable and robust products and solutions quickly and efficiently, slicing production times from months – or in some cases, years – to a matter of weeks.