Fintech Funding: Millions flow to bill-payments solution, API firm and core provider

Indonesian business payments infrastructure and API suite provider Xendit on Thursday raised $300 million in a series D funding round, bringing the company's total raised to $538 million. The fintech over the last 12 months more than tripled its transactions processed annually from 65 million to 200 million and increased total payments value from $6.5 billion to $15 billion, a 130% increase. The company will use the cash to build out its platform and expand into Southeast Asia, according to a release. The fintech in August 2021 announced an investment of an undisclosed amount in Philippines-based digital wallet provider Dragonpay. Xendit likened itself to payments platform Stripe, which in February led a funding round for payroll software fintech Check Technologies. The company was founded in 2014 and has held seven funding rounds, according to Crunchbase. Thought Machine more than doubles valuation to $2.7B Cloud banking core provider Thought Machine this week announced it has reached a $2.7 billion valuation after a $160 million series D funding round. That valuation is well more than twice its $1 billion "unicorn" assessment after the company raised $200 million in December 2021. Much of the latest funding comes from Singapore-based Temasek, with additional investment from Morgan Stanley , ING, JPMorgan Chase , Lloyds Banking Group and others, according to a release. The London-based company said it will use the funding to continue its global expansion, focusing on Vietnam, Thailand, Indonesia and the Philippines. The fintech noted its footholds in the U.S., Malaysia and Australia, with plans to open a Miami office to service Latin America. Thought Machine, founded in 2014, has now raised a total of $563 million over six funding rounds, according to Crunchbase. Nomad raises $32M, triples US accounts opened Sao Paolo-based Nomad, which offers account, card and investment products — as well as the ability for Brazilians to open bank accounts in the U.S. — raised about $32 million in a series B funding round led by New York-based Stripes. "Guaranteed by American institutions, the Nomad account was created for you to expand the boundaries of your financial life and have a life in dollars," according to its website. The company has tripled its number of accounts in five months to 300,000 in April from 100,000 in November 2021, Bloomberg reported . Nomad was founded in 2019 and has raised $60 million over three funding rounds, according to Crunchbase. Cushion raises $12M as it prepares to launch bill-tracking solution San Francisco-based fintech Cushion, provider of bill payment and credit card fee negotiation solutions, announced that it has raised $12 million in series A funding. The fintech will use the funding to expand its product, engineering, data analytics and marketing talent as it prepares to launch a machine learning -enhanced bill-payment solution that has been in beta testing, according to a release. The solution — which has 100,000 current users and "an additional six-figure wait list" — provides a portal that helps customers track their bills, borrow money and improve their credit scores while paying Cushion as the single biller, according to the company. This builds on the company's existing fee negotiation product. Founded in 2016, the fintech has raised a total of $21.3 million over six funding rounds, according to Crunchbase. Bank Automation Summit Fall 2022, taking place Sept. 19-20 in Seattle, is a crucial event on automation and automation technology in banking. Learn more and register for Bank Automation Summit Fall 2022 .

Fintech Funding: Millions flow to bill-payments solution, API firm and core provider

Brazilian fintech that lets users open US bank accounts pulls in $32M

Listen: Akoya’s head of solutions speaks on ‘de-risking’ open finance

US Bank launches Spanish voice assistant for auto loan servicing, banking

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Fintech Funding: Millions flow to bill-payments solution, API firm and core provider

Brazilian fintech that lets users open US bank accounts pulls in $32M

Listen: Akoya’s head of solutions speaks on ‘de-risking’ open finance

US Bank launches Spanish voice assistant for auto loan servicing, banking

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