Platform that Offers AI Investment Advice MDOTM Raises €6.2 million Series B, Currently holds € 750 million AUA


MDOTM, a platform that provides investment advice using artificial intelligence  (AI), has raised €6.2 million in Series B fundraising. Both institutions and individual investors participated in the funding round.

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SaaS platform Plannuh, which focuses on Financial Management, Business Optimization, secures $4.1 million


Plannuh, a software-as-a-service or SaaS firm automating core marketing leadership processes such as planning, financial management, and optimization of business outcomes, reveals that it has finalized a $4.1 million equity round that was led by Ripple Ventures.

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Lendio acquires Laso’s AI enhanced Loan Origination Solution to provide underwriting services for Lending Platforms

Lendio, the leading SME financial solutions marketplace, reveals that it has made an asset purchase of Laso’s Loan Origination Software (LOS) and insights technology, which should help further its goal of supporting SMBs.

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Intuit set to acquire Mailchimp for $12B in cash and stock


The planned Mailchimp acquisition for around $12 billion in cash and stock aims to support Intuit’s goal of promoting prosperity across the globe. It also supports the firm’s vision to become an AI-enhanced expert platform.

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[Report] Financial Institutions are increasingly adopting AI for supporting AML as Fintech adoption rises

Payments and standards

As noted in the report, almost £18 billion in Fintech investments were made in H1 2021, which is another record for the UK’s total investments in the financial technology space, and it now puts the country in second place, trailing only the US.

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New York City-based Mega-Next enters Financial Market with data-driven approach to Trading and Investing

Man with tablet on map of the world

The financial center of the world has welcomed a new company to the trading and investing space, with Mega-Next entering the scene with its forward-thinking approach to financial data analyses and artificial intelligence applications. The young fintech research startup is focused on accelerating trading and investing workflows for retail traders, investors and enterprises with its no-code development platform, with some of the most talented minds from both the technology and finance sectors at the helm.

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Symphony, the Markets Infrastructure Platform, to offer Verified Directory for Financial Services sector after Streetlinx acquisition


Symphony, the market’s infrastructure and technology platform, confirmed that it will now provide a complete, secure and verified directory for the financial services sector as it has acquired StreetLinx, a counterparty mapping platform. This acquisition adds more than 200 institutional counterparties to the 1000+ institutions currently being served by Symphony.

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Forrester: Adopting fraud-fighting AI requires the right technical framework

Lock on a circuit board

AI tools have become part and parcel of fraud management solutions in the enterprise, according to a new Forrester report. In it, analysts at the firm identify key fraud management use cases where AI can help, mapping how brands can deploy AI technologies in each scenario.

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AI-powered finance Concierge Zeni raises $34m Series B


AI-powered finance concierge Zeni has raised a $34 million Series B funding round led by Elevation Capital with participation from new investors Think Investments and Neeraj Arora. Existing investors Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures also participated in the round. The funds will be allotted to hiring in the U.S. and India across product, technology, marketing, sales, and finance operations.

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AI powered proptech Localize raises $25 Million Series C


Localize has closed on a $25 million Series C funding round, according to a note from the Proptech firm. The funding round was led by Pitango Growth with Mizrahi-Tefahot and existing investors joining in. As part of the funding round Pitango co-founder and Managing Partners, Chemi Peres will be joining the company’s board of directors. To date, Localize reports having raised $70 million.

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Smart money Fintech app Snoop Secures £15M via Series A with participation from US investment firm Paulson & Co. Inc


Fintech app Snoop has secured £15 million in capital in order to support its global expansion efforts. Established by ex- Virgin Money Chief Executive Jayne-Anne Gadhia, the smart money app Snoop closed its Series A round with contributions from US investment management company Paulson & Co. Inc.

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Follow the Money July 2021: 79 Funded Machine Learning Companies

Follow the AI money - July 2021

July 2021 latest funding of artificial intelligence, machine learning, robotics, and innovation companies.

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Identity proofing firm AuthenticID announces $100m minority growth investment from Long Ridge Investment

Authentic ID

AuthenticID recently announced a $100 million minority growth investment that has been led by Long Ridge Investment. The investment will be directed towards supporting AuthenticID’s ongoing innovation in automated identity proofing as well as the firm’s market expansion efforts.

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Chicago’s startup Paro, a provider of on-demand Financial Expertise, secures $25M via Series B


aro has announced a $25 million Series B funding round. The rapidly-growing startup offers businesses with flexible finance solutions through teams of remote finance professionals in order to help them address problems and support their ongoing growth.

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Swiss B2B Proptech PriceHubble finalizes $34M round from Digital+ Partners, Latitude Ventures, others

Price Hubble

Switzerland-based B2B Proptech firm PriceHubble reveals that it has finalized its $34 million Series B round.
PriceHubble’s investment round was oversubscribed and was led by Digital+ Partners, a European growth equity investor. The firm’s round was also joined by Latitude Ventures, the Series B+ sister fund of UK’s VC LocalGlobe and TX Ventures from Zurich, and TX Group AG’s venture unit.

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AI and financial processes: Balancing risk and reward

Juggling money

Of all the enterprise functions influenced by AI these days, perhaps none is more consequential than AI and financial processes. People don’t like when other people fiddle with their money, let alone an emotionless robot. But as it usually goes with first impressions, AI is winning converts in monetary circles, in no small part due to its ability to drive out inefficiencies and capitalize on hidden opportunities – basically creating more wealth out of existing wealth.

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