Registry — Vantage Bank Texas (US) added to the registry
Enforcement — Licence Revocation issued against Paytm Payments Bank · RBI · Apr 26, 2026
Partnership — Qolo Expands KeyBank Partnership to Launch Virtual Commercial Card Program · Apr 28, 2026
Product — Aven Launches Bitcoin-Backed Visa Credit Card with BitGo and Coastal Community Bank · Apr 28, 2026
M&A — Capacity Acquires DevRefactory to Expand Embedded Middleware and AI Capabilities · Apr 28, 2026
Funding — UAE B2B Embedded Finance Platform Comfi Raises $65M Pre-Series A · Apr 27, 2026
Deal Feed
Partnerships, funding rounds, product launches, and M&A across the ecosystem.
U.S. mobile banking fintech MoneyLion raised $160 million in combined Series C funding, including a $100 million round and a previously unannounced earlier tranche. The raise brought MoneyLion close to unicorn status as it scaled its consumer financial services platform.
PT Fintek Karya Nusantara (Finarya) launched LinkAja in July 2019, an e-wallet platform jointly owned by Indonesian state-owned enterprises including Bank Mandiri, BRI, BNI, BTN, Telkomsel, Pertamina, and Jiwasraya. The platform embeds directly into banking apps like Mandiri Online, enabling seamless payments, card linking, and cardless ATM withdrawals. LinkAja supports QR-code payments across retail, transportation, utilities, e-commerce, and more, aligning with Indonesia's vision for a unified national e-wallet.
Jack Henry & Associates acquired Geezeo, a fintech providing digital financial management and data analytics tools to banks and credit unions. The deal strengthens Jack Henry's ability to offer embedded personal financial management features through its banking technology platform. This enhances the digital banking infrastructure that community banks rely on.
VibePay received FCA approval for its open banking-based payments platform, with app launch planned for September 2019. The approval enables VibePay to offer account-to-account payments leveraging the UK's open banking infrastructure. This represents another fintech leveraging bank-connected APIs for embedded payment services.
Seattle-based digital remittance service Remitly raised $220 million ($135M equity and $85M debt) in a Series E round, nearing a $1 billion valuation. The funding supports growth in its cross-border money transfer platform and launch of new fintech products.
Indian online payments startup Razorpay raised $75 million in Series C funding led by Ribbit Capital and Sequoia Capital, valuing the company at approximately $450 million. Tiger Global and Y Combinator Continuity Fund also participated. Razorpay provides payment APIs enabling businesses to embed financial services.
Swedish payments firm Trustly announced a merger with US-based PayWithMyBank, creating a global online banking payments network. The combined entity reported 2018 revenues exceeding $120 million. The deal significantly expands embedded open banking payments capabilities across Europe and the US.
UK digital bank Monzo partnered with FDIC-insured Sutton Bank to offer banking services in the US while pursuing its own charter. The partnership allows Monzo to provide deposit accounts to US customers through Sutton Bank's infrastructure. This reflects a broader trend of fintechs using BaaS partnerships to enter the US market amid regulatory uncertainty over the OCC fintech charter.
Synapse, a banking-as-a-service platform providing payment, deposit, lending, and investment APIs, raised $33 million in Series B funding led by Andreessen Horowitz. Trinity Ventures and Core Innovation Capital also participated. The company had over three million clients using its cloud-based financial infrastructure tools.
Step, a mobile banking service targeting teenagers, raised $22.5 million in funding led by Stripe. The round supports Step's mission to provide no-fee banking services for a younger demographic. Stripe's lead investment highlights the payments giant's interest in embedded finance and BaaS distribution channels.
Biz2Credit announced a $52 million Series B investment led by WestBridge Capital to expand its Biz2X platform. Biz2X is a SaaS tool that enables banks to digitize SMB lending, origination, servicing, and analytics. The funding supports Biz2Credit's role as a fintech-bank enablement layer for small business lending.
Fintech leaders Sequent and TIS were selected by a major Japanese megabank and leading card issuer to deliver secure mobile payments. Announced June 4, 2019, the partnership embeds tokenized mobile payment capabilities into the bank's infrastructure. This reflects growing demand for embedded payment solutions among global tier-one banks.
BTX Digital, a Brazilian Banking-as-a-Service platform, raised $20 million in equity funding from RedLions Capital. The deal was part of a record-breaking June 2019 for Latin American fintechs, which saw $237 million raised across eight deals. Brazil dominated the region's disclosed equity investments at nearly 93%.
Monzo, the UK-based digital challenger bank, closed a $144 million Series F round led by Y Combinator, bringing its valuation to $2.5 billion. Existing investors General Catalyst, Accel, Passion Capital, Thrive Capital, and Orange Digital Ventures participated. The round positions Monzo to expand its digital banking platform.
Mastercard acquired Vyze, a point-of-sale technology platform that enables merchants to offer multiple lenders' credit programs in both physical and online environments. The acquisition was positioned as mutually beneficial for lenders and merchants, expanding Mastercard's embedded lending capabilities at the point of sale.
Form3 and BPC announced a partnership to deliver a complete cloud-based payments solution covering origination and processing. The collaboration combines Form3's cloud-native payments infrastructure with BPC's processing expertise to offer banks and fintechs an end-to-end payments platform.
ConnectOne Bancorp, parent of ConnectOne Bank, completed its acquisition of BoeFly, a New York/Boston-based fintech focused on small business lending platforms. The deal represents a bank acquiring fintech capabilities to enhance its digital lending operations. This is a notable example of a traditional bank integrating embedded finance technology.
Open Payments secured 1.3 MEUR in seed funding led by Luminar Ventures for its PSD2-compliant open banking API platform. The company offers a single API for account-to-account payments and data retrieval, targeting Nordic and EU expansion with white-label solutions for banks and fintechs.
Global Payments announced a $21.5 billion all-stock merger with Total System Services (TSYS), creating a combined payments technology company serving 3.5 million merchants and 1,300 financial institutions across over 100 countries. TSYS shareholders receive a 20% premium. The deal is part of a broader 2019 payments consolidation wave alongside FIS-Worldpay and Fiserv-First Data.
TransferWise closed a $292M secondary funding round, doubling its valuation to $3.5B. The company provides API-enabled international money transfer infrastructure used by banks and businesses to embed cross-border payments. The round signals strong demand for embedded FX and payments infrastructure.
Clerkie launched its AI-powered financial assistant app and announced a $2 million seed round led by Flourish Ventures. The app aims to democratize financial advice for middle-class Americans using embedded finance principles. The funding supports development of automated financial planning tools.
Marqeta raised $260M in Series E funding led by Coatue Management, valuing the modern card issuing platform at nearly $2B. The API-driven issuer processor enables fintechs and enterprises to launch and manage card programs. Funds will support global expansion, including a new London office.
Finastra announced updates to its FusionFabric.cloud open platform enabling banks, fintechs, and SMEs to collaborate via open APIs across retail banking, lending, and payments. The platform includes co-innovation with nbkc bank on a conversational banking app. This positions Finastra as an open infrastructure layer for embedded finance use cases.
OpenFin raised $17M in Series C funding led by Wells Fargo with participation from Barclays, bringing total funding to $40M. The company provides a financial desktop operating system and Cloud Services enabling banks and asset managers to build private app stores. The investment highlights bank interest in platform infrastructure for financial services.