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RAD Security Secures $14M in Series A Funding to Revolutionize AI-Driven Cybersecurity Solutions
RAD Security has raised $14 million in a Series A funding round, led by Cheyenne Ventures, with participation from investors like Forgepoint Capital and Akamai. The funding will accelerate the development of their AI-driven cybersecurity platform, enhancing threat detection and compliance monitoring for cloud infrastructures. The capital will also support scaling sales, marketing, and strategic partnerships across sectors such as government and FinTech. CEO Brooke Motta emphasized the investment’s potential to transform cloud security and address future AI-related threats. The growing demand for advanced security solutions underscores the relevance of RAD Security’s innovative approach in today’s digital landscape.
EU Council Postpones Critical Sustainability Reporting: CSRD and CSDDD Updates
EU member states have approved a directive to delay key sustainability reporting and due diligence requirements, part of the European Commission’s Omnibus I package. This ‘stop-the-clock’ initiative aims to ease the regulatory burden on businesses, especially small and medium-sized enterprises (SMEs). Key changes include a two-year delay in enforcing the Corporate Sustainability Reporting Directive (CSRD) and a one-year extension for the Corporate Sustainability Due Diligence Directive (CSDDD). The reforms target reducing reporting obligations by 25% for all companies and 35% for SMEs, with the European Parliament set to vote on the proposal on April 1.
Broadridge Unveils Innovative Digital Asset Solutions for Enhanced Institutional Crypto Strategies
Broadridge Financial Solutions has launched Broadridge Digital Asset Solutions, a suite designed to help financial institutions enhance their digital asset operations while ensuring compliance with global cryptocurrency regulations. Leveraging its expertise in data management and investor communications, Broadridge aims to improve investor access and understanding of digital assets. A key feature is Broadridge® ClearFi, which consolidates on-chain and off-chain data to present standardized information about digital holdings. This platform benefits broker-dealers, exchanges, and wallet providers, addressing challenges investors face due to fragmented data. Broadridge’s initiative aims to promote transparency and democratize investing in the digital asset space.
SEC Dismisses Kraken Lawsuit as Crypto Regulatory Landscape Evolves
Kraken announced that the U.S. Securities and Exchange Commission (SEC) has agreed to dismiss its lawsuit against the company, a significant milestone for the cryptocurrency industry. The dismissal, which is with prejudice, means the lawsuit cannot be refiled, and Kraken made no admission of wrongdoing, paid no penalties, or changed its business practices. The SEC initially accused Kraken of running an unregistered securities exchange. Kraken attributed the dismissal to recent leadership changes and criticized the previous “regulation-by-enforcement” approach. The company remains committed to collaborating with regulators to foster a clear framework for digital assets, indicating a potential shift towards a favorable regulatory environment.
Stitch Bags $55M Investment to Expand Enterprise Payments and Acquiring Solutions Across Africa
South Africa-based FinTech company Stitch has raised $55 million in a Series B funding round led by QED Investors, with participation from Flourish Ventures, Norrsken22, Glynn Capital, and existing investors like Ribbit Capital and PayPal Ventures. This funding boosts Stitch’s total to $107 million since 2021 and aims to enhance its payments infrastructure for large enterprises. The company offers advanced payment solutions, including fraud prevention and customization, and plans to expand its in-person payment capabilities. Stitch serves notable clients like Takealot and MTN, and recently launched Express for e-commerce platforms.
Streamline Complex Ownership Structures Effortlessly with Our KYC Portal
KYC Portal (KYCP) offers an automated solution to streamline ownership mapping for businesses navigating complex corporate structures, crucial for compliance with regulations like anti-money laundering (AML). The platform simplifies identifying Ultimate Beneficial Ownership (UBO) by allowing users to define ownership percentages and utilize pre-configured scripts for accurate calculations. This enhances validation accuracy, ensuring 100% ownership identification and reducing errors. KYCP also boosts efficiency in corporate onboarding while strengthening security measures. The Customer Outreach Tool further promotes transparency by enabling clients to confirm ownership details before application submission. Overall, KYCP simplifies compliance processes and enhances security in today’s business environment.