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CrediLinq Secures $8.5M Series A Funding to Revolutionize AI-Driven Credit Solutions for SMEs
Singapore-based embedded finance platform CrediLinq has raised $8.5 million in a Series A funding round to enhance AI-powered B2B transactions and expand globally. The round was led by OM/VC and MS&AD Ventures, with participation from new investors like Citi North America. CrediLinq supports digital-first SMEs with an API-centric Credit-as-a-Service infrastructure, enabling tailored lending products across sectors such as e-commerce and supply chain. The funds will facilitate expansion into the U.S., U.K., and Australia, and improve AI-driven credit scoring. CEO Deep Singh emphasized the importance of this funding in accelerating the growth of embedded finance for SMEs.
Cino Secures €3.5M to Transform Group Payments with Innovative Real-Time Split Card Solution
Cino, a FinTech startup specializing in real-time shared payments, has raised €3.5 million in seed funding led by Balderton Capital, with participation from Connect Ventures and angel investors. Founded in 2023, Cino’s app allows users to split bills and make payments directly from their bank accounts, promoting instant group payments. The funding will support Cino’s launch in the UK, expansion across Europe, and the development of new features. With rapid growth in Finland and Italy, users engage with the app frequently. Co-founder Elena Churilova emphasizes the need for payments to reflect social spending habits.
Waterdrop Partners with DeepSeek to Transform AI-Powered Insurance Solutions
Waterdrop Inc. has partnered with DeepSeek to enhance its AI-driven insurance ecosystem, aiming to transform traditional insurance agents into skilled consultants for improved service accuracy and efficiency. This collaboration focuses on implementing large-scale AI applications in sales support, quality assurance, risk management, and product innovation. Waterdrop’s new AI Model Insurance Quality Inspection Solution significantly reduces operational costs and improves communication analysis. Additionally, the company uses AI and big data to create personalized insurance products for demographics such as the elderly and expectant mothers. Founder Shen Peng emphasizes Waterdrop’s commitment to making quality insurance accessible and promoting sustainable industry development.
Transforming European Banking: The Impact of SEPA and Faster Payments on the Future of Finance
The Single Euro Payments Area (SEPA) is revolutionizing bank transfers in the Eurozone, covering 38 countries and simplifying cashless transactions to enhance economic integration. A Moody’s report highlights SEPA’s role in boosting trade through standardized processes. The advent of faster payments allows near-instant transfers, offering benefits like enhanced speed, lower fees, and reduced errors compared to traditional systems like CHAPS. By January 2025, EU payment service providers must process instant payments 24/7. Future regulations will include payee verification and fee standardization. AI and machine learning will be crucial for compliance as financial leaders adapt to these changes for improved operational efficiency.
Transforming Insurance: Risk Digitization Emerges as a Top Technology Priority
Risk digitisation is now the top technology priority for insurers in North America and the UK, according to a Cytora survey of 200 senior leaders. An overwhelming 79% plan to invest in this area over the next two years, surpassing other technologies like CAT models and CRM systems. Key benefits include revenue growth (22%), increased transaction capacity (19%), and improved service (17%). However, challenges persist, with 62% struggling with manual data extraction and 55% facing workflow issues. Investment in AI and automation is also rising, with 26% investing over £500,000 last year. The shift is expected to enhance productivity and employee morale in the insurance workforce.
PayToMe.co Secures New Funding to Enhance AI Financial Solutions for Global SMBs
PayToMe.co, an innovative AI-powered FinTech platform based in Silicon Valley, is revolutionizing financial management for small and medium-sized businesses (SMBs). Recently securing funding from Hatcher+ and Startupbootcamp, the company plans to expand globally. Its comprehensive financial operating system automates bookkeeping, offers real-time reporting, customizable invoicing for over 100 countries, and features a patented Text-to-Pay technology. PayToMe.co supports ACH and card payments in 34 countries and integrates with over 12,000 financial institutions. CEO Mike Ulker expressed pride in the investment, emphasizing its role in enhancing financial infrastructure for businesses worldwide.