Category : Switzerland

Payroll Platform Papaya Global Raises US$250 Million at US$3.7 Billion Valuation

Papaya Global, a New York-based workforce management platform transforming global employment, announced that it has raised US$250 million in Series D funding, bringing the company’s valuation to US$3.7 billion. Papaya’s valuation has increased tenfol...

Avaloq Appoints Georges Roten to Lead Swiss and Liechtenstein Operations

Swiss core banking solution provider Avaloq announced that it has appointed Georges Roten as its new regional head for Switzerland and Liechtenstein. Roten joined Avaloq in June 2021 to ensure a smooth handover from Mathias Schütz who is leaving the...

Swiss Consumers Show Interest in Open Banking-Enabled Services Despite Low Awareness

In Switzerland, although just a few consumers know what open banking is, consumers are showing strong interest in the use cases and opportunities the trend brings, signaling that future growth and adoption of open banking will be driven by consumer d...

Banks Remain Costliest Remittance Providers

Although wire transfers might be the quickest and most convenient way to send money, it is also exorbitantly pricey, especially when it involves international transfers. In fact, the World Bank’s Q1 2021 Remittance Prices World Quarterly report found...

Canadian Startup Nuula Secures US$120 Million to Boost Service Offerings for SMEs

Nuula, a Canadian mobile application that gives small business owners instant access to critical business metrics, announced that it has raised US$120 million. The total funds secured are US$20 million in equity funding led by Edison Partners that wi...

US Crypto Custody Firm Fireblocks Sets up Swiss Office for DACH Expansion Plans

Fireblocks, a US-based platform that allows financial institutions to store, move and issue cryptocurrencies, announced that it will be opening of a new office headquartered in Switzerland. The firm said that it will be dedicating significant resourc...

MoneyLion to Offer Crypto Investment Ahead of SPAC Merger

US-based neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app. MoneyLion said that eligible customers will initially be able to buy and sell Bitcoin and Et...

Global Payments Signs Deal to Acquire MineralTree for US$500 Million

Global Payments, a worldwide provider of payment technology and software solutions, announced an agreement to purchase MineralTree, a provider of accounts payable automation and business-to-business (B2B) payments solutions, for US$500 million in cas...

FQX Appoints Two New Advisors to Propel Its Growth Plans

FQX, a Swiss-based provider of electronic promissory note infrastructure to facilitate trade finance and money markets, announced the appointment of Whitman Knapp and John Taylor as its advisors. Whit Knapp, Chairman of GTBInsights LLC, a global tran...

Blockchain-Based Invoice Factoring Firm Hiveterminal Expands to DACH Region

Blockchain-based invoice factoring platform Hiveterminal announced that it has expanded to the DACH region as part of its Europe growth plans. Hiveterminal aims to start cultivating relationships with Swiss-based small and medium-sized enterprises (S...

Orell Füssli Snaps up Majority Stake in Swiss Digital Identity Firm Procivis

Swiss printing and bookselling company Orell Füssli has acquired a majority stake in technology company Procivis which offers smartphone-based identity solutions. Orell Füssli will offer both physical and digital identity and certificate solutions fr...

How Jacksonville, FL, Prevails as an Emerging Fintech Powerhouse

Many cities on the West Coast of the United States burgeoned into innovation centers during the dot-com bubble. Tech hubs like California’s Silicon Valley and Washington’s Greater Seattle region are home to some of the biggest tech companies in the w...

Fintech Sector Starts Taking Shape in Panama

Although Panama is lagging behind nations such as Brazil, Mexico and Colombia, in the development of fintech, the lack of access to financial services and high financial exclusion levels provide opportunities for the space to grow. A study released i...

Irish BNPL Firm Scalapay Bags US$155 Million to Fund Its Expansion Plans

Ireland-based buy now pay later (BNPL) firm Scalapay has raised US$155 million in equity funding as part of its Series A investment round. The company is now valued at US$700 million. The latest funding round brings the total amount raised to US$203...

Neobank Varo Raises US$510 Million, Now Valued at US$2.5 Billion

US-based Neobank Varo Bank announced that it closed a US$510 million oversubscribed Series E funding round, valuing it at US$2.5 billion. The round was led by new investor Lone Pine Capital, who was joined by dozens of additional new investors includ...