EU fires starting gun for banks vs fintech fight over payments

Reuters | November 27, 2017

EU fires starting gun for banks vs fintech fight over payments
The European Commission approved rules on Monday to increase competition and toughen up security in how people pay for goods and services across the European Union, pitting banks against financial technology firms. The rules flesh out an update to the bloc’s payment services law and are among the most disputed in recent financial regulation.

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FINANCIAL MANAGEMENT

Global Business Spend Indicator, New Survey By American Express, Shows U.S. Businesses Have Bullish Outlook on B2B Spending

American Express | June 01, 2021

Survey indicates that U.S. spending is on the rise across nine key business-to-business (B2B) categories. U.S. survey respondents cited that raw or processed materials, such as lumber, metals, and chemicals, are outpacing all other B2B spending categories. Automation is anticipated to be the fastest-growing area in technology spending, with nearly half of U.S. survey respondents planning to automate or further automate their B2B payments over the next year1. Flexibility is key for the U.S. businesses sur...

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FINTECH

Quint Group joins growing tech community at Alderley Park’s Glasshouse

Quint | June 01, 2021

Global fintech Quint Group is set to join Bruntwood SciTech’s rapidly growing tech community at Glasshouse, Alderley Park. Quint owns and operates a number of fintech businesses which are focused on improving access to credit. The business, which, as well as in the UK, has operations in San Diego, Warsaw, Foshan, Sydney and Cape Town and clients that include major financial services providers like Goldman Sachs, Shawbrook Bank and Admiral, will move its HQ to Glasshouse to support its ongoing growth. Established in 2009, Quint Group is part of the UK’s fast growing fintech sector, which contributes over £11bn to the economy per year. Grea...

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FINANCIAL MANAGEMENT

REPAY to Acquire Integrated Payments Provider BillingTree for $503 Million

REPAY, BillingTree | May 11, 2021

Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, today announced it has signed a definitive agreement to acquire BillingTree for approximately $503 million. The acquisition will be financed with approximately $275 million in cash from REPAY’s balance sheet and $228 million in newly issued shares of REPAY Class A common stock to be issued to the seller. The transaction is subject to certain customary closing conditions and is expected to close by the end of the second quarter of 2021. BillingTree, founded in 2003 and headquartered in Scottsdale, AZ, is a leading provider of omni-channel, integrated payments solutions to the Health...

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FUNDING

FinLync Secures $16M to Support Global Expansion

FinLync | May 10, 2021

FinLync, a privately held, global fintech company transforming corporate finance and treasury offices through its world-class products, today announced that it has closed on a $16M equity funding round. Point72 Ventures led the financing and included investments from Nyca Partners, former CFO of Palantir and Founding Partner of Friends & Family Capital Colin Anderson, and Plaid Founder William Hockey. FinLync brings speed, simplicity and greater transparency and control to finance and treasury professionals globally. Through its world-class products, they provide them the infrastructure to unlock more value from their day-to-day operations. This latest funding will support...

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