Today in FinTech: Finastra Teams With Microsoft; Zevoy Plans European Expansion

Microsoft, EU, antitrust

In today’s FinTech news, Finastra and Microsoft join forces to offer lending options to small- to medium-sized businesses (SMBs), while Zevoy uses its funding round to expand in Europe. Plus, Voyager’s Maya Bank and PayMaya will help underserved and unbanked Filipinos.

Finastra, Microsoft Form BaaS Partnership for Small Business Lending

London-based FinTech Finastra has launched a Banking-as-a-Service (BaaS) collaboration with Microsoft to offer new lending options to SMBs. The move is intended to give SMBs access to relevant business financing in a seamless and frictionless manner.

Finnish FinTech Zevoy Raises $16M for EU Expansion

Zevoy is using its Series A capital to launch in eight European markets during the next few months. The startup offers expense management solutions, as well as credit and prepaid debit cards. Zevoy anticipates that it will secure a credit institution license sometime in 2022.

Voyager Innovations Raises $210M, Becomes Unicorn

Voyager Innovations is using its latest funding round to launch new services for its subsidiary Maya Bank and expand the offerings of its other subsidiary, PayMaya. The company also plans to bring the best of PayMaya and Maya Bank to underserved and unbanked Filipinos.

Payments Tech Firm PayArc Lands Investment

Payment technology company PayArc has received a strategic investment from private equity firm Bregal Sagemount. The capital will be used to invest in new sales and marketing channels and go after strategic acquisitions.

Stenn Raises $50M in Equity Funding at $900M Valuation

Stenn, a digital financing platform for SMBs, has finished a $50 million equity funding round that gives it a $900 million valuation. The startup uses a proprietary technology stack to provide fast access to growth capital and big data and custom algorithms to analyze the risks associated with credit, fraud and compliance.

FinTech Form3, Goldman Sachs Launch Cross-Border Transaction Banking

Form3 and Goldman Sachs Transaction Banking (TxB) have introduced a solution that aims to deliver foreign exchange (FX) and payments capabilities to Form3’s banking clients. The platform will provide clients access to FX payments in 124 currencies across 163 countries.

Berlin-Based re:cap Closes $15M Seed Funding

Re:cap is using its seed capital to expand its workforce, develop additional products and enter European markets. The digital funding platform enables institutional investors to invest in a company’s recurring revenue.