Author: Akin Naphtal

HSBC has invested $10 million in Nova Credit as part of a wider partnership giving the bank global access to the startup’s cross-border credit data product. US-based Nova Credit tackles the problem that immigrants have when they arrive in a new country – that their credit history is stopped at the border. The Nova Credit Passport capability pulls newcomers’ established credit data from their country of origin and converts it into an equivalent score and report suitable for use by lenders and financial services providers in their new host country. HSBC has already deployed the technology in Singapore, initially to…

Worldline is to acquire a 40% stake in Online Payment Platform, a Dutch PSP serving marketplaces and e-commerce platforms. Transactions through marketplaces and platforms make up approximately one third of the European e-commerce volumes and are expected to increase to more than half in 2025. OPP serves over a hundred marketplaces and platforms, such as e-Bay Kleinanzeigen, Marktplaats, Gumtree, Royal FloraHolland and PayPal. It typically deals with large quantities of merchants with a relatively low volume of sales, handling escrow payments with dispute and mediation management services built in. The transaction is in line with Worldline’s strategic roadmap as it…

HPS, a global provider of payment solutions and services, announced it has obtained a principal membership license from Visa, which will enable HPS’ clients to join the global Visa payments network. In addition to HPS’ full processing capabilities, HPS can now offer banks, FinTechs, and institutions who are looking to launch a payment solution, access to Visa’s payments ecosystem through its Banking Identification Number (BIN) sponsorship program. BIN sponsorship has been picking up pace globally in recent years with the growing number of FinTech companies being launched. Many are looking for both a payment service provider and a sponsor that…

Western Union announced that it has launched inbound international money transfers for Weixin’s approximately one billion users in China. Activated in collaboration with Shanghai Pudong Development Bank and Tencent Financial Technology, Chinese customers will now be able to receive money in real-time through the Weihuikuan Mini Program, a lite app integrated in Weixin. Weihuikuan offers a completely digital, in-app experience, enabling Weixin’s users to receive international cash transfers digitally, into their bank accounts. “The future of money movement is about choice, supported by technology-led innovative partnerships,” said Jenny Wu, Country Director of China and Mongolia at Western Union. “China is…

Google has completed the acquisition of Mandiant, a recognized leader in dynamic cyber defense, threat intelligence, and incident response services in an all-cash transaction valued at approximately $5.4 billion. The acquisition of Mandiant is subject to customary closing conditions, including the receipt of Mandiant stockholder and regulatory approvals, and is expected to close later this year. When completed, Mandiant will join Google Cloud and retain the Mandiant brand. Google and Mandiant share a long commitment to industry-leading security. Over the past two decades, Google has innovated to build some of the most secure computing systems in the world. Google Cloud…

Nigerian fintech startup NowNow Digital Systems has aimed at building a system that will not only drive financial empowerment but also help introduce new products through scaling and expanding its service offerings across the continent. This was expressed after the firm secured seed funding to improve financial inclusion in Nigeria and across Africa. Leading the funding move, NeoVision Ventures Ltd, DLF Family Office and Shadi Abdulhadi, the sum of $13 million was raised. It has been stated that the funds will serve as a driving force to empower people financially by launching new products and improving the rate of its existing…

Nigeria’s emerging tech startup, Earlyschool, an online and offline school management digital innovative solution has perfected plans to expand its operations to digitize schools in Oyo, Osun, and Lagos states, Nigeria. The move is targeted at enhancing educational operations and management with advanced digital solutions in the states. Launched in 2021, the Earlyschool digital solution has become the ultimate school management operational tool in some states in Nigeria including Kwara and Ogun states deploying an Artificial Intelligence (AI) solution for educational growth and capacity building. Earlyschool is an online and offline school management solution for Africa, digitizing African local and…

Silicon Valley Bank (SVB) UK has announced further Nordic expansion with the establishment of a representative office in Stockholm. SVB previously opened an office in Denmark in late 2019. SVB UK notes that their expansion into Sweden builds on its Nordic presence and will further accelerate plans to deploy capital through debt financing in Sweden’s innovation businesses, as well as venture capital and private equity funds. The move comes after SVB UK completed its subsidiary process. SVB UK hired Maria Ljungberg to lead the expansion as country director, and will be responsible for building the offering in Sweden. Ljungberg was…

Satispay— an innovative payment super network —announces a €320 million Series D investment round, led by Addition, taking its valuation to more than €1 billion. Greyhound Capital, shareholder since 2018, will follow and increase its stake in the company. Other participating investors include Coatue, Lightrock, Block Inc., Tencent and Mediolanum Gestione Fondi SGR, who all joined in 2021. The investment round proves Satispay’s mobile payment super network success, which was launched to become the everyday payment solution for consumers across Europe and has received significant market attention since its previous Series C round. Alberto Dalmasso, co-founder and CEO of Satispay,…

A waste recycling management company, RecyclePoints, in partnership with the Mastercard Foundation, has empowered 857 women and youth on waste recycling through Project DORI. The co-founder, RecyclePoints, Chioma Ukonu, revealed this recently while taking stock of the company’s achievements as part of its close-out report with the Mastercard Foundation. The Project DORI is an initiative that requires making waste recycling easily accessible to more people in underserved communities by carrying out community recycling programmes and the deployment of DORI Bins to women in communities in some states. Through Project DORI, women can deploy proprietary waste and recycling assets such as…