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Mimo Secures $8.5M Equity Round and Launches $125M Embedded Funding Partnership with Froda
Mimo, a platform focused on optimizing global payments and financial management for small and medium-sized businesses (SMBs), has raised $8.5 million in equity funding, led by Project A with support from Northzone and Seedcamp. This funding will enhance Mimo’s offerings, including a partnership with Froda to provide over $125 million in working capital solutions in the UK and beyond. Founded in 2023, Mimo features tools like automated invoice processing and integrated bookkeeping. With plans for expansion and new products, Mimo aims to simplify financial management for SMBs, positioning itself as a leader in the sector.
Mastering KYB Compliance in Australia: Your Ultimate Guide to Navigating Know Your Business Regulations
In Australia, robust Know Your Business (KYB) practices are crucial for entrepreneurs and investors amid a rapidly changing business environment. With rising business registrations and diverse structures, efficient data verification is essential to avoid legal penalties, reputational damage, and financial losses. Key identifiers like the Australian Business Number (ABN) and Australian Company Number (ACN) are vital for confirming legitimacy. Businesses must navigate challenges such as unclear ownership and document access barriers. Regulatory bodies like AUSTRAC and ASIC oversee compliance, emphasizing the need for systematic document verification and ongoing monitoring to mitigate risks associated with financial crimes.
Jscrambler Secures $5.2M Funding to Enhance Client-Side Security Innovations
Jscrambler, a leader in client-side protection, has secured a $5.2 million investment from Iberis Capital, reflecting strong investor confidence in its security solutions amid rising cyber threats. The funds will enhance Jscrambler’s application security capabilities, focusing on real-time monitoring of JavaScript and protection against digital skimming, while aiding companies in achieving PCI DSS v4 compliance before the March 31, 2025 deadline. Despite the urgency highlighted in a recent report, only 36% of businesses have adopted necessary protections. Jscrambler aims to meet the growing demand for robust digital security, supported by its experienced leadership and previous funding rounds.
UK Mortgage FinTech Sprive Secures £5.5M Investment from Ascension: A Transformative Boost for Property Financing
Sprive, a UK FinTech company focused on helping homeowners expedite mortgage repayments, has raised £5.5 million in a funding round led by Ascension, with support from Channel4Ventures, Velocity Capital, and TwoMagnolias. This investment will enhance Sprive’s marketing efforts and broaden its reach. As the UK’s sole independent mortgage overpayment app, Sprive addresses the critical issue of rising household debt, particularly amid increasing interest rates. CEO Jinesh Vohra highlighted the app’s potential to save users collectively over £100 million in interest. Sprive has also been selected for NatWest’s FinTech growth program, further establishing its industry presence.
Ciphr Unveils Innovative Cloud-Based Payroll Solution with Real-Time Calculation Features
Ciphr has launched an advanced cloud-based payroll system aimed at simplifying payroll processes for UK businesses, enhancing efficiency and reducing errors. Key features include real-time calculations, automated backpay adjustments, and rolled-up holiday pay calculations. The system, a refined version of the Shape payroll technology, offers a user-friendly interface, intuitive dashboards, and reduced manual tasks. Its standout real-time payroll engine ensures seamless HR and payroll data integration. Additional benefits include secure single sign-on, centralized data protection, and quick implementation. Managing Director Julie Lally highlights its potential to revolutionize payroll technology, making it available for demonstration to over 1,000 organizations.
Orca Security Strengthens CNAPP Leadership: Opus Acquisition and AI-Driven Remediation Revolutionize Cloud Security
Orca Security, a leader in agentless cloud security, has acquired Opus, a startup focused on AI-powered automation, enhancing its cloud-native application protection platform (CNAPP) capabilities. This acquisition aims to advance Orca’s offerings from threat detection to AI-driven remediation, significantly reducing manual efforts for security teams. Orca’s CEO, Gil Geron, highlighted the importance of this move in transitioning to intelligent, automated cloud security solutions. Opus, co-founded by former Siemplify team members, provides advanced technology to address security challenges effectively. Together, they set a new standard for cloud security, aiming for a safer digital landscape for organizations globally.