Welcome to The Fintech Times Bi-Weekly News Roundup on Tuesday 26 September 2023.
Switch2Zero, a London-based climate tech startup, has appoints Derek White as its new chairman. The appointment will help accelerate Switch2Zero’s efforts to create a global sustainability hub, connecting people and businesses with everything they need to lighten their environmental load, work towards net zero emissions, and achieve net positive impact.
One Nexus Group, a technology solution and professional services provider for the automotive industry, has named Alan Glazier as its new commercial director. This strategic move coincides with One Nexus’ recent rebranding initiative, aimed at unifying its product offerings under the One Nexus brand. Glazier will spearhead the company’s commercial growth and development.
SmartStream, the financial Transaction Lifecycle Management (TLM) solutions provider, has a new CEO –Akber Jaffer. He recently worked in senior leadership roles at Finastra and Colt Technology Services and will guide SmartStream into its next phase of growth and innovation. Haytham Kaddoura, former CEO, has joined the SmartStream board.
Coincover, the blockchain protection company, hires Ridhima Durham as chief commercial officer. She joins Coincover from Salary Finance. At Coincover, she will apply her leadership skills, commercial and strategic acumen and her knowledge of startup innovation to oversee Coincover’s growth. She will also head up several teams, including sales, partnerships, marketing, communications and lobbying.
Global fintech Broadridge Financial Solutions is expanding its team in the investment funds industry with the senior hire of John Dowdall as head of European regulatory intelligence. Dowdall was also the founder of the regulatory data exchange Silverfinch. He is responsible for leading Broadridge’s efforts in monitoring regulatory developments and helping clients navigate this evolving landscape.
Fairer Finance announces the appointment of Tim Hogg as director to lead its Behavioural and Data Science Team. Hogg’s hire will significantly strengthen the consumer group’s capacity to guide companies through the intricacies of regulatory compliance, notably the new Consumer Duty. He has spent 10 years advising both public and private sectors on the design and implementation of regulation.
Cornerstone FS, a foreign exchange and payments company, has appointed Henry Hatton as sales director to drive further growth as the Group continues to expand. He joins from WorldFirst, an international fintech, and part of Ant Group, with over 500 employees across Europe, Asia and Australia.
Vodeno, a European banking-as-a-service (BaaS) provider, has named Philip McHugh as chairman and Noah Sharp as CEO. McHugh and Sharp will steer Vodeno’s next phase of growth and continue the company’s momentum, with more than 30 BaaS projects delivered or in development, and new investors, NatWest Group and the European Bank for Reconstruction and Development (EBRD), confirmed in recent months.
Countingup, the business account that automates accounting and tax, has named Tom Platt as CEO, starting 1 November. In his role, Platt will accelerate growth and guide the Countingup product offering, while fostering an engaging and inclusive working environment. He succeeds founder Tim Fouracre, who continues as a board director. Platt joins from TotallyMoney, where he was chief operating officer.
Funding and investments
British fintech Timeline announces a £10million Series B funding round led by BlackFin Capital Partners, a private investment firm specialising in financial technology. This milestone coincides with Timeline reaching £3billion in assets under management (AUM), positioning the company on a path to doubling in size by the end of 2023. The funding will help extend Timeline’s reach as well as enhance its product offering.
Blockchain-powered SaaS solution Cygnetise bags a £2.5million Pre-Series A round led by UK investment syndicate Adjuvo with participation also from US VC Massive and existing VC and angel backers. The over-subscribed round will facilitate acceleration of the collaborative digital signatory management solution’s growth by further expanding the company’s sales and technology teams.
Dawn Capital, a European B2B software investor, has raised $700million to invest in the next generation of global software leaders. The fundraise includes the $620million flagship fund Dawn V, the largest dedicated early-stage B2B software fund ever raised in Europe. Dawn V will back European software innovators at Series A and B stage with initial investments of $10m to $40m, and provide capital for follow-on rounds.
UK fintech Mintago has raised $4.75million in equity investment. BlackLion Ventures led the round, with Love Ventures and Cur8 Capital also involved. Mintago will use the funding to invest further in the technology underpinning its financial wellbeing platform. It will also expand its sales and marketing team to accelerate the growth of its client-base.