This week's edition of Finovate Global takes a look at two Finovate alums that are helping support fintech innovation in the Middle East and Africa. First up is engagement banking platform provider Backbase. The four-time Finovate Best of Show ...
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06/25/2022

By David Pennon 2022/06/24 15:31 -0400


This week's edition of Finovate Global takes a look at two Finovate alums that are helping support fintech innovation in the Middle East and Africa.

First up is engagement banking platform provider Backbase. The four-time Finovate Best of Show award-winning company announced this week that it has forged a new partnership with Bahrain FinTech Bay (BFB). The partnership comes under the auspices of BFB's Venture Acceleration Platform, which seeks to boost the adoption of digital banking...

By David Pennon 2022/06/23 18:49 -0400


Innovation and regulation are the ying and yang of financial technology in many respects. To this end, we caught up with Justin Beals, co-founder and CEO of Strike Graph, to talk about the relationship between fintech innovation and fintech regulation, and why compliance is something that successful fintechs are taking seriously.

Founded in 2020 and headquartered in Seattle, Washington, Strike Graph specializes in helping companies secure critical security compliance certifications....

By Julie Muhn (@julieschicktanz)on 2022/06/23 15:30 -0400

  • Digital customer service firm Glia agreed to acquire conversational AI technology company Finn AI.
  • Financial terms of the deal were not disclosed.
  • Glia Co-founder and CEO Dan Michaeli said that Finn AI is a strong fit for Glia because of its technology, market approach, and company culture.

Digital customer service firm Glia is enhancing its offering with its recent acquisition of conversational AI technology company and fellow Finovate alum Finn AI.

Financial terms of the agreement,...

By David Pennon 2022/06/23 13:44 -0400

  • E-commerce payments enabler SumUp raised $624 million (€590 million) in a combination of equity and debt financing this week.
  • The funding round was led by Bain Capital Tech Opportunities.
  • This week's investment gives SumUp a valuation of $8.5 billion (€8 billion).

In a round led by Bain Capital Tech Opportunities – and featuring participation from funds managed by BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, and Sentinel Dome Partners – e-commerce payments...

By Julie Muhn (@julieschicktanz)on 2022/06/22 21:25 -0400

Buy now, pay later (BNPL) has seen a lot of hype since the popularity of the technology exploded in 2020. The U.K. Financial Conduct Authority (FCA) estimates that the U.K. BNPL market is worth $3.7 billion (£2.7 billion), and that five million British citizens have used BNPL tools since 2020. This growth is great for BNPL companies, but not necessarily so for the consumers they serve.

That's because consumers in the U.K. are starting to take on debt to pay for purchases they've made using...

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