Do you represent a startup that already has a working solution and is ready to scale? Then you’re invited to Wales! FinTech Wales Foundry, a new initiative announced at the UK FinTech Week 2021, is an accelerator programme designed to connect global startups with Welsh organisations. The goal? Creating new jobs, driving investments in the sector, and scaling innovative solutions that will contribute to solving the societal and business challenges in Wales. The applicants will get access to tools, mentorship and other perks, and will have a chance to work with leading Welsh institutions such as the Welsh Government, Cardiff Capital Region, Cardiff University or Angels Invest Wales. The Foundry is accepting applications until 7 June, so hurry up!

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The £3 million Series B funding round was led by TMT Investments, reported Finextra. Therefore, the startup that has grown revenues fourfold since the start of the Covid-19 pandemic is now valued at £40 million. With offices in London, Dubai, Amsterdam, Luxembourg and Riga, and clients in over 190 countries, 3s.money allows businesses to accept and make international payments using a multi-currency account. The funding will be used to further grow the company’s headcount and to expand to new markets.

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SteelEye, a compliance and financial data analytics software company, unveiled the details of its brand new market abuse and communications monitoring product based on an improved lexicon technology. According to Chief Product Officer Matt Storey, firms using legacy lexicons face the problem of high values of false positives because these solutions don’t consider the context of the communication. At the same time, the number of search terms that trigger alerts is limited. The new lexicon technology developed by SteelEye is powered by AI and therefore, is context-aware and can capture selected terms with all the variations, abbreviations and even typos.

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Exciting news from PwC: the FinTech Scale up programme is back! The company has announced the latest cohort of WealthTech businesses that will get the opportunity to accelerate growth and gain new connections in the sector during the 10-week programme. Nine innovative startups were selected to take part in the initiative: Datactics, providing tools for data quality; Creative Mass, a wealth platform based on Salesforce; Novastone, a secure messaging solution for financial services; Tiller, a provider of client journey solutions for wealth industry; Conser, a third-party ESG verifier; My Compliance Centre, a provider of a compliance platform; Opus Nebula, a reporting system provider, 3rd Eyes Analytics, focused on goal-based investing; and Clear Macro, an investment data analysis company. Congratulations to all the startups selected for the programme!

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Ionburst’s object storage cloud platform, widely used by FinTech businesses, is now generally available in the Amazon Web Services London region. The platform assures a high level of data privacy, bridging the data protection gap in cloud services. Ionburst’s solution allows businesses to meet the strictest privacy requirements such as GDPR or EU-US Data Privacy Shield. UK businesses that want to level up their data security game can now find the Ionburst Cloud on the AWS Marketplace with an extra bonus: a 5GB free tier.

Read more about the security standards in FinTech