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Highnote Secures $90M in Series B Funding to Launch Revolutionary Unified Payment Platform
Highnote has raised $90 million in a Series B funding round led by Adams Street Partners, with contributions from existing investors like Oak HC/FT and Costanoa. This funding will enhance Highnote’s innovative acquiring solution, allowing businesses to smoothly accept and process payments on the same platform where they issue cards, leading to time and cost efficiencies. Key features include a centralized ledger, online payment options, direct connections to major networks, and improved data access. CEO John MacIlwaine highlighted that this funding and expansion will support businesses of all sizes with scalable payment solutions.
Descartes Underwriting Launches $70 Million Parametric Insurance Solution for Solar Farms
Descartes Underwriting has launched a parametric insurance product to protect utility-scale solar farms in the U.S. from tornado damage, offering coverage of up to $70 million. This innovative solution addresses the growing risks of severe weather, particularly tornadoes, which threaten solar infrastructure. The policy, designed for solar farms over 10 MW, determines payouts based on the damage to the surface area and utilizes advanced technology for efficient claims processing. By leveraging satellite imagery and NOAA data, Descartes minimizes basis risk, ensuring swift claims payments and safeguarding renewable energy investments amidst climate change challenges.
Sunbound Secures Strategic Investment from Omega Healthcare Investors, Revolutionizing Senior Care FinTech
Sunbound, a FinTech company specializing in financial solutions for senior living operators, has partnered with Omega Healthcare Investors, a real estate investment trust focused on skilled nursing and assisted living. Omega has acquired an equity stake in Sunbound, enabling its network of operator partners to access exclusive financial services, competitive pricing, and improved billing processes. Sunbound’s technology aims to enhance operational efficiency and optimize cash flow in senior care facilities. Both companies expressed excitement about the collaboration, highlighting its potential to elevate resident satisfaction and operational performance in the senior living industry.
Tompkins Community Bank Upgrades ATMs with Cutting-Edge NCR Atleos Technology
Tompkins Community Bank, with US$7.8 billion in assets and a nearly 190-year legacy, is modernizing its ATM network by partnering with NCR Atleos for an ‘ATM as a Service’ (ATMaaS) solution. This collaboration transfers ATM management to NCR Atleos, covering hardware and software maintenance, security, cash handling, installation, and logical security. The initiative aims to enhance ATM reliability and customer experience. SVP Martin O. Cross highlighted the partnership’s alignment with the bank’s mission to combine local leadership with broad financial capabilities, while Atleos GM Steven Nogalo noted its role in maintaining competitive advantage through self-service options.
