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Who Wins and Who Loses? Unpacking the CFPB’s Section 1033 Ruling

On October 22, the US Consumer Financial Protection Bureau (CFPB) finalized Section 1033 of the Consumer Financial Protection Act, introducing a landmark rule on consumer-authorized financial data sharing. The regulation is designed to enhance consumers’ rights, privacy, and control over their personal financial information. By encouraging competition and empowering consumer

This Week in FintechWarren Handley

🎧The Fintech OG Series Season Two: Tom Brown and Edward Woodford

Hey everyone, Julie here. Welcome back to another episode of the FinTech OG Season 2. Today I had the pleasure of sitting down with Tom Brown of NYCA and Edward Woodford of ZeroHash. In this episode, we get a front row seat to the evolution of fintech from Tom’s early

This Week in FintechJulie VerHage-Greenberg

Please find another week of fintech financing events below.

(👍👎 Have feedback for us? Let us know! Find me at @nikmilanovic, @twifintech, and @ndm)

Network tokens are the new standard for processing online transactions, but understanding their real value can be challenging—especially with so much conflicting information out there. Evervault is hosting a live webinar to cut through the noise and offer a clear, unbiased look at what network tokens are, how they work, and the benefits they bring.

Join Shane Curran, CEO of Evervault, as he dives into the world of Network Tokens with Liam Wiltshire, Head of Payments at Overwolf. Save your spot today!

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📊 Stat of the Week

The US' Small Business Administration-backed lending to small businesses rose 7% to $56 billion in fiscal year 2024.

💸 Venture Financing

China’s Tencent uncloaked as mystery lead backer of Neo’s $100-million-plus financing

Digital bank challenger declined to reveal name of investor in financing backed by prominent Canadian tech entrepreneurs

The Globe and MailSean Silcoff

• WadzPay secured a S$50 million ($37M) Share Subscription Facility investment commitment from GEM Global Yield to accelerate growth through acquisitions, partnerships, and organic initiatives.
• OneChronos raised a $32 million Series B round to expand its AI-driven financial market platform.
• Cardless secured $30 million to develop its next-generation co-branded credit card solutions.
• Range obtained $28 million in funding for its flat-fee wealth management platform.
• Deutsche Bank invested $20 million in Partior, a blockchain-based cross-border payments firm, to enhance digital payment efficiencies and promote industry collaboration​. The funding brings the company's Series B to $80 million.
• Capitolis announced a $20 million strategic investments from Citi, Morgan Stanley, State Street, and UBS to accelerate its capital markets platform.
• Boosted.ai (shown below) raised $15 million to enhance its AI-powered investment management tools.
• Constrafor collected a $14 million Series A for its construction-focused financial technology solutions.
• OpenYield secured $7 million in funding to grow its bond trading platform.
• Aevi received $5M in venture debt funding from Salica Investments to expand its payments technology.
• OpenTrade closed a $4 million seed extension round to enhance its investment banking marketplace.
• StoreCash launched an app enabling users to earn instant cash back at participating stores and raised a $3.7 million seed round.
• Norbr raised $3 million in funding to expand its no-code payment orchestration platform.
• Pi-xcels secured $2.7 million in seed funding to develop its receipt digitization platform.
• Citi pushed further into the mortgage market through its digital infrastructure platform, Pylon, which it invested in.
• Solaris, the struggling German banking-as-a-service platform, is seeking fresh funding of £100 million to stabilize its operations amid ongoing challenges, including tightening regulatory scrutiny​ and a 30% layoff.
• Corporate expense platform Ramp is looking to sell secondary shares at an $11 billion valuation.

Network tokens are the new standard for processing online transactions, but understanding their real value can be challenging—especially with so much conflicting information out there. Evervault is hosting a live webinar to cut through the noise and offer a clear, unbiased look at what network tokens are, how they work, and the benefits they bring.

Join Shane Curran, CEO of Evervault, as he dives into the world of Network Tokens with Liam Wiltshire, Head of Payments at Overwolf. Save your spot today!

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