In today’s FinTech news, Sam Mizrahi and Jon Fath are working together to launch the financial super app Rauva to serve freelancers and small businesses in Europe’s Mediterranean region. Plus, Banking-as-a-Service firm NymCard locked down $22.5 million in funding to expand its workforce, products and partnerships.
Startup Rauva Developing ‘Super App’ for Europe’s Mediterranean Region
Canadian entrepreneur Sam Mizrahi and FinTech executive Jon Fath are developing a new financial “super app” called Rauva to give the banking and financial community an automated solution for freelancers and small businesses in Europe’s Mediterranean region.
Headquartered in Portugal, the startup is underway with a multi-million dollar funding package and plans to roll out next year, with initial launches slated for Portugal and Spain.
PayU Boosts African Footprint With Ghana, New BNPL, QR Products
Payment solutions firm PayU is expanding to Ghana and launching buy now, pay later (BNPL) services and QR codes for payments.
PayU is also updating its product through its partnership with Payflex in South Africa, and Scan to Pay and Pay by USSD in Nigeria. The company is aiming to provide merchants with the tools to move into new markets.
RuPay Granted First UPI Connection by India’s Central Bank
The Reserve Bank of India (RBI) has granted RuPay permission to connect cards to the unified payments interface (UPI).
The first FinTech granted such permission, the move will enable more people to make digital payments with cards issued by the National Payments Corporation of India (NPCI). NPCI enables digital payments and settlement systems in India and is an initiative of RBI and the Indian Banks’ Association.
BaaS Provider NymCard Raises $22.5M
Banking-as-a-Service provider NymCard picked up $22.5 million in a funding round led by DisruptAD, Reciprocal Ventures and Shorooq Partners.
The round also saw participation from Chimera, DFDF, Knollwood, Endeavor Catalyst, OTF Jasoor Ventures, and other new and returning investors. The fresh capital will be earmarked for growing its talent, building out its service in core markets and developing key local partnerships.
Proper Finance Raises $4.3M for FinTech Reconciliation Software
Integrated reconciliation and ledger data platform Proper Finance secured $4.3 million in a seed funding round to further the development of its Reconciliation-as-a-Service and payments data platform.
The startup is also planning to introduce no-code tools for tracking and reconciling money movement across systems, as well as additional payment method integrations.
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