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Trade publisher and research provider covering financial technology deals, companies and investment data.
Neonomics' existing shareholders put EUR 3.6 million into the Norwegian open banking firm after it cut operating costs by almost 50%. No outside investor joined, so the holders backing the restructured company are the ones who owned it before.
Reality
Brio Platform and Losange Finance are merging as Stellé, pairing software that supports over 100 funds and 3,000 LPs with a fund administrator. Terms were not disclosed, and one deal between two Canadian firms is thin evidence of sector-wide consolidation.
Reality
FinCEN and federal bank regulators said on 8 September that qualifying mobile driver's licences can meet customer identification rules. No bank has to accept them, so the work shifts to wiring the credentials into onboarding systems.
Reality
SEC examiners named six recurring failures in adviser compliance reviews, the first being written policies that differ from actual practice. Red Oak, a compliance software vendor that sells continuous monitoring, argues that annual reviews alone miss that drift.
Reality
Armadin's $255.5 million Series B and Jeeves's $110 million raise took 68% of fintech's $541 million week, by FinTech Global's count. The prior week's top two took a similar share of $1.2 billion, so the fall hit large and small rounds alike.
Reality