122 developments from 119 companies: 10 acquisitions, 22 funding, 36 partnerships and integrations, 17 launches, 4 licences and regulators, 33 other developments.
Siris Capital Group announced a take-private acquisition of ACI Worldwide at approximately $6.8 billion enterprise value. source
Acquired payment platform Adumo for $85.9 million (cash + stock), adding merchant acquiring, card processing and GAAP hospitality POS to its Merchant segment. source
L Catterton (LVMH-backed) agreed to acquire 70% of KIKO Milano from the Percassi family; bridge loan consortium including Barclays, UniCredit, Intesa Sanpaolo, and Deutsche Bank arranged €500M financing, subsequently replaced with senior secured notes.
milanofinanza.itAcquired MyShubhLife (MSL) for ₹45 crore (76% initially, full ownership planned); raised ₹1,322 crore from Samena Capital and others via CCDs and warrants.
economictimes.indiatimes.comAcquired payment platform Adumo for $85.9 million (cash + stock), adding merchant acquiring, card processing and GAAP hospitality POS to its Merchant segment.
lesakatech.comSiris Capital Group announced a take-private acquisition of ACI Worldwide at approximately $6.8 billion enterprise value.
investor.aciworldwide.comDraftKings completed acquisition of Jackpocket on May 22, 2024; Jackpocket stockholders received ~$452.3M cash and ~$320.8M equity.
sec.govUS startup raised $2.3 million offering embedded bookkeeping and accounting for SMBs.
techcrunch.comRaised $14 million for wallets-as-a-service platform enabling merchants to offer branded wallets.
finextra.comJeeves secured a $75M USD credit facility with Community Investment Management to expand LatAm footprint and launch Jeeves Pay Credit in Brazil.
prnewswire.comClosed $32.2M Series B led by Bain Capital Ventures with plans to build spend management, a financial API marketplace, and AI-powered cash flow analytics.
techcrunch.com$1.2M seed round led by Fritz-Pak Corporation; Outpave Visa Commercial Credit cards issued by Celtic Bank, money transmission and accounts via Stripe Payments Company (funds then held at Evolve Bank & Trust).
dallasinnovates.comRaised $20M in latest round (total raised $42.4M), stage reported as Series B by CB Insights.
cbinsights.comRaised $20M Series B led by Group 11; announced Aerosync proprietary bank aggregator launch.
fintechfutures.comAgora raised $34M Series B led by Qumra Capital with participation from Insight Partners and Aleph, to accelerate expansion and R&D.
techcrunch.comMajority raised $20M in new funding following 3x revenue growth, as reported by TechCrunch.
techcrunch.comDigniFi secured $175M in new funding: $150M warehouse facility from Encina Lender Finance and $25M in debt financing from Brigade Capital Management to expand auto repair financing solutions.
lenderfinance.encinacapital.comPartnership with Emirates NBD for instantaneous cross-border transfers between UAE and worldwide.
thepaypers.comLaunched embedded investment product via partnership with WealthKernel; enables customers to park funds in a money market fund.
finextra.comCrediMax and Mastercard announced Click to Pay powered by Mastercard Gateway — first deployment in Bahrain.
credimax.com.bhTrustly and Caesars Digital announced partnership for expanded instant payout access to players via RTP network on Caesars Palace Online Casino and Caesars Sportsbook & Casino.
trustly.comAnnounced partnership with Nelnet Bank to offer homeowner financing (up to $150,000) embedded in the platform.
buildertrend.comPushPress officially launched embedded gym insurance powered by Authentic Insurance, achieving ~8% adoption in first 6 months with ~$600 average annual savings for customers.
pushpress.comSofidel published its 2024 Integrated Report covering ESG performance, governance, and sustainability strategy.
sofidel.comBecame the first US issuer processor certified to enable Visa Flexible Credential (a single card dynamically accessing debit, credit, BNPL or rewards at checkout), then launched VFC programs with Affirm and Klarna; also supports Mastercard One Credential.
investors.marqeta.comSkaleet announced a partnership with Smile ID to provide Africa's most comprehensive digital banking and identity verification solution.
skaleet.comDLL and Sunstone Credit announced a strategic partnership to provide solar financing solutions for energy producing and energy infrastructure assets in the U.S.
globenewswire.comPC Financial selected Temenos retail core banking as SaaS on Microsoft Azure, deploying in 6 months for first interest-bearing savings feature on PC Money Account.
temenos.comEmirates NBD and Nium announced strategic partnership to enable real-time cross-border payments from the UAE.
nium.comStash launched StashWorks, a workplace financial benefit platform backed by SHRM, onboarding 20,000 employees from launch partners including Wonder and Aurify Brands.
prnewswire.comFinfare Connect announced partnership with Tillo to scale payment-linked rewards in the US market.
open-conversations.orgUnimarket announced US market expansion of 'Unimarket Payments', a fully managed AP payments service powered by Finexio.
financialit.netCollapse left ~10M consumers with frozen accounts; ~100 fintech partners affected.
techcrunch.comBack Market partnered with bolt in the US to offer embedded device protection plans with monthly installment options.
insurtechanalyst.comTopps Tiles partners with GoCardless to power Direct Debit payments behind its newly launched Trade Pay trade credit scheme.
fintech.globalLaunched worldwide travel insurance in partnership with Qover; hit 12.5M users and €8B deposits
press.bunq.comCrowded announced a collaboration with Visa to implement Visa Direct for international currency transfers, powered by Cross River and Checkout.com, targeting nonprofit organizations and summer camp international staff.
crossriver.comPayByPhone launched PayByPhone Protect in the UK, an embedded in-app insurance product in partnership with Chubb covering valuables and car windows during parking sessions.
paybyphone.co.ukHappyEasyGo announced partnership with Nium for virtual card payments to travel suppliers, enabling multi-currency B2B settlement.
prnewswire.comSíminn Pay integrated Snowdrop Solutions' MRS API for advanced transaction enrichment, becoming Snowdrop's first Icelandic customer.
snowdropsolutions.comZainCash went live with Temenos core banking and payments platform, enabling faster product launches and deeper Central Bank of Iraq integration.
temenos.comOTR Clutch published its Clutch Business Deposit Account Agreement, naming OTR Capital LLC as Program Partner and Thread Bank as the sponsoring bank.
otrclutch.comPartnership with PayJustNow announced to launch PayJustNow Advance, expanding working capital access for South African retailers.
disruptafrica.comPrivat 3 Money expanded its partnership with ClearBank to introduce a multi-currency account (EUR, USD, CHF, CAD) under a single IBAN with API-driven technology.
privat3money.comTerraPay and Al Ansari Exchange announced a global money movement partnership to expand payout reach.
alansariexchange.comAnnounced AWS partnership using generative AI and ML to automate nano-loan approvals and accelerate development.
press.aboutamazon.comUnveiled embedded finance platform Atelio (based on the Bond acquisition); enables deposits, money movement, card issuance.
finextra.comLaunched Flow, a payment-as-a-service programme optimizing buyer payment method selection by location, currency, and device.
finextra.comSohar International unveiled its API Banking Portal — described as Oman's first — enabling third-party fintechs and corporates to integrate banking services via APIs.
ibsintelligence.comLaunched instant international money transfers for retail customers to 35+ countries.
soharinternational.comThe Hashgraph Association and Hylobiz (Vayana subsidiary) launched debt-based financial products on Hedera DLT network for SMB lending.
prnewswire.comCardless, Avianca Airlines, and LifeMiles announced launch of two US-market credit cards on the American Express network via Cardless platform, embedded in lifemiles.cardless.com.
prnewswire.comIntellect Design Arena launched iCPX and iAPX platforms at an event, positioning them as AI-powered, eMACH.ai-based source-to-pay and accounts payable solutions for large and mid-sized enterprises.
intellectdesign.comScanco announced the launch of its Invoice2Payment (i2PAY) AR automation solution for manufacturing and distribution warehouses.
scanco.comLaunched chatbot service with full privacy policy and terms of use; chatbot handles card management, OTP authentication, and transaction inquiries.
paycaddy.comAnnounced 1 million card users in five months; launched Trade Republic current account with IBAN and unlimited interest on all cash deposits at ECB rate (4% p.a.).
assets.traderepublic.comCEX.IO launched a Mastercard-branded crypto debit card for EEA users, enabling crypto-to-fiat spending at Mastercard merchants worldwide.
globenewswire.comSegpay launched the virtual Segcard — a USD Visa virtual card for content creator payouts, enabling instant access to funds for creators and affiliates globally.
segpay.comAgora launched cross-border payments functionality for global real estate investors, enabling international distributions and contributions.
agorareal.comBackbase Engagement Banking Platform went live for OCB's OMNI 4.0 app, co-implemented with SmartOSC within six months.
crowdfundinsider.comAuthorized by Banco Central as an ITP (Iniciador de Transação de Pagamento)
site.accesstage.com.brBank of Ghana approved outbound money transfer service within regulatory sandbox
techpoint.africaGerman BaaS provider filed for insolvency (two German entities); Luxembourg entity apparently continuing operations.
embeddedfinancereview.comReceived £270 million debt funding from Citibank and Barclays; plans growth in Germany and UK.
fintechfutures.comSBI awarded BillDesk a Rs 12 crore contract for Access Control Server / Issuer Authentication Server services for SBI debit and prepaid cards (01 Apr 2024–31 Mar 2029).
sbi.co.inSentiLink published a case study detailing Concora Credit's use of SentiLink for synthetic identity fraud prevention in non-prime credit applications.
resources.sentilink.comAnnounced target of ₹1,500 crore AUM through MyShubhLife platform over three years, targeting 2 lakh retailers.
prnewswire.comAssist Card commercial agreement to embed travel insurance on LATAM site across Brazil, Chile, Peru, Colombia, Ecuador.
noticias.r7.comNatixis CIB provided financing for Virgin Atlantic's final Airbus A350-1000 aircraft delivery, structured as a French Optimized Lease with Itasca insurance and a junior financing.
newsroom-en.groupebpce.frWaFd Bank announced deployment of CashFlow Central from Fiserv for its small business customers, enabling ACH, card payments, and invoice management.
investors.fiserv.comDiscontinued bank deposit accounts and debit cards after Synapse's collapse; sent customers a 1-day notice.
techcrunch.comTabaPay pulled out of the Synapse asset acquisition after infighting among fintech stakeholders including Evolve Bank & Trust and Mercury.
techcrunch.comLive Nation confirmed Ticketmaster was hacked, with personal information stolen in a data breach linked to Snowflake customer compromise.
techcrunch.comCocos Capital Servicios Financieros S.A. registered as Proveedor de Servicios de Activos Virtuales No. 14 by Argentina's CNV.
assets.cocos.capitalPublished updated sub-processor list (effective 23 May 2024), disclosing DocuSign, Thomson Reuters HighQ, AbraTax, AST Private Company Solutions, and other technology vendors.
ocorian.comSynapse Financial Technologies filed for bankruptcy; Yotta customers lost access to deposits routed through Synapse Brokerage LLC.
en.wikipedia.orgCuckoo renewed a three-year Direct Debit and open banking deal with GoCardless, adding Instant Bank Pay for one-off customer payments.
cuckoo.coFinWise Bancorp announced a strategic lending program with Plannery, enabling payroll-linked debt consolidation loans for healthcare employees.
finwise.bankPublished case study on industry-first embedded insurance product for motorcycle riders in Asia co-created with Castrol.
sc.comM&T Bank signed its first AI decisioning platform deal with Rich Data Co (RDC) via nCino for commercial lending credit risk monitoring.
fintechfutures.comToolTime Pay terms of use published, formalizing Adyen as exclusive payments provider.
tooltime.appPNC Flexpay wins Fintech Futures Banking Tech Award for Best Embedded Finance Initiative
linkedin.comPayPoint announced £1 million investment in Aperidata, an Open Banking credit reporting platform.
retailer.paypoint.comMastercard Foundation and Kifiya announced the SAFEE program — a US$100M commitment to unlock US$300M in uncollateralized credit for 477,800+ MSMEs across six Ethiopian banks over five years.
kifiya.comProtocol Labs Research formally winds down, publishing a farewell post reflecting on five years of decentralization research.
research.protocol.aiCEO Barry Levett published analysis on global government access to transaction data, GDPR, AML, and FATCA compliance pressures.
mypinpad.comJULO announced JULO Protect Plus, a gadget-protection insurance embedded in its virtual credit card, covering 200,000+ customers within three months, in collaboration with Qoala and Sompo Insurance.
prnewswire.comEach item is a dated development on the dossier of a company the Index tracks, linked to its announcement where the dossier recorded one. It is not every embedded finance announcement of the month. Deals between two tracked companies are listed once. Kinds are assigned from each announcement’s wording, and deals are ranked by the amount raised or paid, where disclosed.