Tribal Credit, which provides credit cards to startups in emerging markets, raises $34.3M

Tribal Credit

Today, Tribal Credit announced it has raised $34.3 million in a combined Series A and debt round led by QED Investors and Partners for Growth (PFG). Existing backers BECO Capital, Global Ventures, OTG Ventures and Endure Capital also participated in the round, along with new investor Endeavor Catalyst. The raise follows “10x” year-over-year growth, according to CEO and co-founder Amr Shady.

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Feedzai raises $200M at a $1B+ valuation for AI tools to fight financial fraud

Fedzali

On the heels of Jumio announcing a $150 million injection this week to continue building out its AI-based ID verification and anti-money laundering platform, another startup in the space is levelling up. Feedzai, which provides banks, others in the financial sector, and any company managing payments online with AI tools to spot and fight fraud — has announced a Series D of $200 million. It said that the new financing is being made at a valuation of over $1 billion.

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Rapyd raises $300 million for its unified payments platform

Rapyd, which is developing an all-in-one payments solutions platform, today announced it has raised $300 million, bringing the company’s total raised to over $450 million. CEO Arik Shtilman said the funds will be used to double the size of Rapyd’s engineering and product teams and explore acquisitions globally.
Virtual card spend is projected to grow to $355 billion by 2022, up from $136 billion in 2017, according to Accenture. With annual transaction volumes anticipated to surpass $9 trillion, businesses are increasingly investigating unified payment solutions.

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Facebook claims its proposed payments network is 7 times faster than Visa’s

As work continues on Novi, Facebook’s digital wallet, a paper coauthored by scientists at Facebook’s Novi division proposes a transaction settlement system called FastPay. In experiments, the team managed to achieve “intra-continental” confirmation of less than 100 milliseconds and over 80,000 transactions per second with as many as 20 different payment authorities.

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