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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.
DiligentIQ Secures $12M in Series A Funding to Revolutionize Private Equity Due Diligence
DiligentIQ, a GenAI platform for private equity due diligence, has raised $12 million in a Series A funding round to expand its operations and enhance its market presence. Led by FINTOP Capital, the funding will help the NYC-based company grow its team, accelerate product innovation, and improve integration features. DiligentIQ leverages advanced AI to streamline the due diligence process, enabling investment professionals to quickly categorize and analyze deal documents, leading to faster, more accurate decisions. Founded by Ed Brandman, the platform aims to transform private equity due diligence, allowing teams to focus on strategic decision-making over manual workflows.
Rocket Companies Joins Forces with Redfin in a $1.75 Billion All-Stock Acquisition
Rocket Companies, based in Detroit, plans to acquire Redfin, a leading digital real estate brokerage, in an all-stock deal valued at approximately $1.75 billion. The acquisition, priced at $12.50 per Redfin share, aims to enhance the home-buying experience in the U.S. by integrating Redfin’s home search platform with Rocket’s mortgage services. Both CEOs, Varun Krishna of Rocket and Glenn Kelman of Redfin, express a shared vision of streamlining the home-buying process through advanced technology and AI, ultimately providing a seamless experience for customers from home search to financing.
Unlocking Financial Crime Prevention: The Power of Collaboration Over Isolation
Financial institutions face increasing pressure to enhance anti-fraud strategies as financial crime becomes more sophisticated. In Poland, credit fraud attempts soared to 324.2 million PLN (€75 million) in 2024, a trend seen across Europe. Collaboration among banks, FinTech, and crypto firms is crucial but hindered by legal concerns, operational inertia, and privacy issues. Salv, a company focused on combating financial crime, emphasizes the need for real-time, peer-to-peer communication for effective intelligence sharing. By fostering secure, structured exchanges of alerts, institutions can better detect and prevent fraud while respecting customer privacy and complying with regulations.
Vertex Revolutionizes E-Invoicing: Boosting Global Tax Compliance Efficiency
Vertex, a leading tax technology provider, has upgraded its e-invoicing solution to help businesses comply with complex global tax regulations. This enhancement is crucial as e-invoicing mandates increase worldwide. The updated solution features integration of Continuous and Periodic Transaction Controls to streamline e-invoice management, a scalable cloud-based network for automating financial transactions, and improved indirect tax reporting. CEO David DeStefano highlighted the need for a unified approach to cross-border compliance. Benefits of the solution include increased efficiency, improved compliance with local laws, and scalability for growing businesses. For more details, visit Vertex’s official website.