Beyond the towering presence of industry behemoths, the FinTech domain thrives with continuous evolution, pulsating with innovations from the sector’s more niche corners. FinTech Wire, March 2024 episode 64, offers a peek into this dynamic world, showcasing the latest developments and the visionary companies and individuals steering these advancements.

iCustoms.AI Secures Funds

iCustoms Logo

Revolutionizing Trade with AI

iCustoms.AI has successfully raised $2.2 million in seed funding to enhance its AI-driven trade compliance solutions. This financial boost is set to automate customs procedures, promising significant savings in time and costs for traders. Adnan Zaheer, the CEO, emphasized the platform’s ability to simplify trading by eliminating manual tasks and ensuring compliance.

With support from esteemed investors like Fuel Ventures and SyndicateRoom, iCustoms.AI, under the leadership of industry veterans such as Zaheer and advisor Mark Denney, is on a path to redefine trade compliance.

Scaleup Finance’s Growth Leap

Empowering Startups Financially

Denmark’s Scaleup Finance announced an $8 million funding round to address the financial management challenges of startups and scaleups. Co-founder Alexander Sonne Wulff highlighted the platform’s role in automating financial reporting and simplifying financial planning, thereby aiding founders to focus on their core business.

The funding, led by Inveready and supported by a consortium including Crowberry Capital and Seed X, will fuel Scaleup Finance’s expansion, particularly in the UK, and its mission to offer comprehensive financial solutions to emerging businesses.

Brass Navigates Challenges

Strategic Investment Boosts Nigerian FinTech

Brass, a Nigerian FinTech startup, has received a crucial, undisclosed amount of funding amidst operational hurdles. This capital infusion, a mix of debt and equity, comes at a pivotal time, following service delays that had impacted customer trust.

Founder & CEO Sola Akindolu reassured that the funding would improve service delivery, highlighting the fintech community’s support for Brass’s innovative banking solutions. Despite earlier challenges, including a failed acquisition deal with Flutterwave, Brass’s resolve illustrates the sector’s resilience and collaborative spirit.

Owlin Innovates Banking

AI Solution for Banks Unveiled

Owlin, under the leadership of CEO Sjoerd Leemhuis, has launched Owlin for Banks, a comprehensive tool designed to meet the unique regulatory requirements of the banking industry.

Stefan Peekel, the Chief Growth Officer, emphasized the product’s potential to transform risk management practices, leveraging AI and extensive data analysis for improved compliance and operational efficiency.

Centime and FNBO Team Up

Reimagining Business Banking

Centime, in collaboration with FNBO (First National Bank of Omaha), introduced a novel banking solution aimed at maximizing businesses’ working capital efficiency.

This partnership, highlighted by Centime’s CEO BC Krishna and FNBO’s Vice President Carrie Zoucha, merges high-yield checking accounts with innovative cash management features, setting a new standard in business banking services.’s Series B Success

Leading Auto Payment Management

NX Technologies, with its platform, co-founded by Lasse Diener and Ulrich Schmidt, has raised €22 million in a Series B funding round led by PayPal Ventures.

The investment marks a significant milestone in expanding the company’s footprint across Europe, further developing its suite of payment management solutions for the automotive industry.

Smart Pension Achieves Milestone

£5 Billion in AUM

Smart Pension, led by CEO Jamie Fiveash and co-founder Andrew Evans, has announced surpassing £5 billion in Assets Under Management (AUM), a testament to the company’s innovative approach to pension management.

This achievement underscores Smart Pension’s commitment to providing superior retirement saving solutions and its vision for continued growth.

Homeppl Launches FraudFinder

Tackling Rental Fraud

Alexander Siedes, CEO of Homeppl, introduced FraudFinder, a revolutionary document analysis tool aimed at combating rental fraud.

This innovation reflects Homeppl’s dedication to enhancing security and efficiency across the real estate and financial sectors, promising a significant impact on fraud prevention practices.

nsave Secures Seed Funding

Democratizing Offshore Banking

Co-founded by Amer Baroudi, nsave has raised $4 million in seed funding, co-led by Sequoia Capital and TQ Ventures, to make Swiss banking accessible to individuals from unstable economies.

This initiative aims to provide a secure and inclusive financial solution for those impacted by inflation and financial exclusion, underscoring nsave’s mission to offer stability and growth opportunities.

Zone’s Seed Round Triumph

Blockchain Payments Expansion

Zone, Africa’s first layer-1 Blockchain network and decentralized infrastructure for payment in Fiat money and digital currencies, led by Co-Founder/CEO Obi Emetarom, has closed an $8.5 million seed funding round, supported by Flourish Ventures and TLcom Capital.

This investment highlights Zone’s innovative approach to utilizing blockchain technology for enhancing payment systems, demonstrating the potential for significant advancements in the FinTech sector.

Xaver Announces Pre-Seed Funding

Revolutionizing Retirement Savings

Xaver, unveiled by CEO Max Bachem, has secured €5 million in pre-seed funding, the largest of its kind for a European FinTech in 2024. Aimed at addressing the pension gap, Xaver’s AI-driven platform seeks to transform the efficiency of retirement savings management for financial institutions, signaling a new era in pension and life insurance services. Goes Live

Investment Products Simplified

Max Linden, CEO of, announced the launch of their platform, facilitating the creation and management of investment products for fintechs and banks. Supported by Deutsche Bank, BNP Paribas, and Tradegate Exchange, is poised to redefine investing opportunities, showcasing a commitment to innovation and customer-centric solutions.

Zodia Custody’s New Venture

Enhancing Digital Asset Security

John Cronin, CEO at Zodia Custody, revealed Collateral Protect, a collaboration with Digital Prime Technologies focused on safeguarding digital assets in lending processes.

This solution promises to increase transparency and capital efficiency, marking a significant advancement in institutional digital asset handling.

Cariqa Joins Techstars

EV Charging Simplified

Co-Founder Tamara Ciullo announced Cariqa‘s inclusion in the Techstars portfolio, introducing an EV payment platform that simplifies the charging process for drivers. With features like unified app access to multiple charging networks and subscriptions for predictable billing, Cariqa is set to revolutionize the EV charging experience.

Pluto’s Strategic Expansion

Comprehensive Spend Management

Mo Aziz, CEO of Pluto, shared the platform’s evolution into a comprehensive spend management solution, following investment from Born Capital.

Aimed at offering a unified platform for various corporate spending needs, Pluto’s innovative approach is designed to enhance operational efficiency and financial control for businesses in the UAE.

Flagstone’s Funding Achievement

Estancia Capital Partners Invests

Flagstone, co-founded by Andrew Thatcher and Simon Merchant, announced a significant £108 million investment from Estancia Capital Partners.

This partnership aims to amplify Flagstone’s impact in the cash deposit market, leveraging Estancia’s expertise to explore new growth opportunities and enhance the platform’s offerings.

Deel Acquires PaySpace

Expanding Payroll Solutions

Deel, in its largest acquisition to date, has integrated PaySpace, an African-based payroll and HR software company, into its global HR solutions.

This move, highlighted by Deel’s CEO Alex Bouaziz, signifies a strategic expansion, enhancing Deel’s capabilities and reach in providing comprehensive payroll services across multiple regions.

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