1. Wefox closes $187M refinancing deal
Wefox, a European insurtech leader, has successfully closed a €170 million refinancing deal to support its growth in the insurance market. Source
2. Regnology secures investment for global expansion
Regnology has received a major investment from CPP Investments, aimed at fueling the company’s global expansion in financial services. Source
3. Failed fintech startup Bench racked up $65M in debt
Documents reveal that failed fintech startup Bench accumulated over $65 million in debt before its collapse, highlighting the financial struggles faced by many startups. Source
4. Recharge raises $49.5M for M&A expansion
Prepaid payments platform Recharge has secured €45 million in funding to pursue a series of acquisitions, aiming to expand its market presence and enhance service offerings. Source
5. Amazon to acquire Indian BNPL fintech Axio
Amazon has signed an agreement to acquire Indian fintech Axio, aiming to expand its services in the buy now, pay later (BNPL) sector and reach underserved customers. Source
6. iCapital to acquire Parallel Markets for streamlined onboarding
iCapital has announced its intention to acquire Parallel Markets, enhancing its digital identity, investment onboarding, and compliance verification processes for clients. Source
7. Three taps Ericsson to replace Nokia core network
Three has selected Ericsson to replace its Nokia core network, a strategic move aimed at enhancing its network performance and supporting future growth. Source
8. Southern Cross achieves 1 Tb/s transmission
Southern Cross Cable Limited has successfully completed the world’s first 1 Tb/s transmission across the Pacific, utilizing Ciena’s WaveLogic 6 technology for enhanced connectivity. Source
9. Trump nominates aide for FCC position
Former President Trump has nominated a Senate aide for a position at the Federal Communications Commission, aiming to influence future telecommunications regulations. Source
10. Ofcom considers cutting complaint escalation timeframe
Ofcom is exploring changes to reduce the complaint escalation timeframe, despite objections from telecommunications companies regarding potential impacts on their operations. Source
