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Nirvana Insurance Secures $80M in Series C Funding, Approaching $850M Valuation Milestone
Nirvana Insurance, an AI-driven commercial trucking insurer based in California, has raised US$80 million in a Series C funding round, boosting its valuation to approximately US$850 million. The investment, led by General Catalyst with support from Lightspeed Venture Partners and Valor Equity Partners, comes after the company surpassed US$100 million in premiums. Nirvana plans to use the funds to expand operations and enhance its AI technology, which integrates IoT data to improve risk assessment, policy pricing, and claims processing. CEO Rushil Goel highlights the company’s commitment to redefining the insurance experience for fleets through personalized, real-time solutions.
MANSA Secures $10M Funding to Revolutionize Cross-Border Payment Liquidity Solutions
MANSA, a global FinTech leader in cross-border payments, has raised $10 million in funding to tackle global liquidity challenges with stablecoin solutions. The round featured a $3 million pre-seed investment from Tether and Polymorphic Capital, alongside contributions from other investors. The funds will support MANSA’s expansion into Latin America and Southeast Asia, where demand for efficient payment solutions is rising. Since its launch in August 2024, MANSA has processed $27 million in transactions, with a 574% increase in recent on-chain activities. CEO Mouloukou Sanoh emphasized the funding’s role in enhancing payment efficiency worldwide.
Taktile Secures $54M in Series B Funding to Revolutionize AI-Driven Risk Decisioning in the US
Taktile, a New York-based decision automation platform, has secured $54 million in a Series B funding round led by Balderton Capital, bringing total investments to $79 million. Other notable investors include Index Ventures and Tiger Global. Taktile has expanded its operations to 24 markets and partnered with fintech firms like Mercury and Zilch, as well as financial institutions such as Allianz. The platform focuses on AI-driven decision-making for risk assessment, fraud detection, and underwriting. CEO Maik Taro Wehmeyer emphasized the importance of expert guidance in AI adoption, highlighting Taktile’s role in enhancing decision processes while maintaining compliance.
Sage Capital Bank Teams Up with Apiture to Transform Digital Banking Experience
Sage Capital Bank, an independent community bank in central Texas, has partnered with Apiture to enhance its digital banking services through the Apiture Digital Banking Platform. With assets of $700 million, the bank aims to meet growing customer demands for online and mobile banking solutions. The partnership will introduce features such as consumer and business banking solutions, digital account opening, peer-to-peer payments, real-time fraud detection, and check fraud prevention services. Executives from both organizations emphasized their commitment to innovation and improving customer engagement, ensuring that Sage Capital Bank’s offerings align with modern banking expectations.
Enhanced ESG Disclosure Regulations for Pension Funds in Hong Kong: What You Need to Know
Hong Kong’s pension regulator, the Mandatory Provident Fund Schemes Authority (MPFA), has introduced new disclosure requirements for ESG funds within the Mandatory Provident Fund (MPF) scheme to enhance transparency. Trustees, including major financial institutions like HSBC and Manulife, must now provide detailed descriptions of their ESG strategies in scheme brochures. This initiative aims to empower scheme members by allowing them to assess fund performance against their expectations. The new standards affect 47 ESG-related funds managing approximately HK$36.6 billion and are effective immediately, with a compliance grace period until September 30.