Fintech Funding: UAE digital bank YAP raises $41M

YAP , a United Arab Emirates-based digital bank, has raised $41 million in funding, the company announced Monday. The bank plans to complete its series A by yearend. Investors include Saudi Arabia-based Aljazira Capital , Abu Dawood Group , Astra Group and Audacia Capital . “The interest that we have received from investors shows that there is a strong demand for fintech products, and we remain committed to making digital banking enjoyable and easy for our customers,” YAP co-founder and Group Chief Executive Marwan Hachem said in a statement. “There is incredible demand for fintech products in the region, and we are well-placed to be a market leader to address these needs.” YAP launched in 2021 as a digital banking platform in the Middle East and Africa. The bank will soon launch in Egypt and has plans to expand to Pakistan and Ghana. More than 130,000 users have signed up, according to a release. E-commerce startup DEUNA expands into LatAm Palo Alto, Calif.-based startup DEUNA announced today it has raised $30 million in a series A funding round, bringing the company’s total amount raised to $37 million. The fintech plans to expand into Latin America’s e-commerce sector. Founded in 2020, the company offers a one-click checkout platform for e-commerce merchants that integrates into major payment providers and alternative payment methods. “Our product will flip e-commerce in the region,” Jose Maria Serrano, co-founder of DEUNA, said in a statement. “We designed the first fully functional solution for vendors to truly enable a one-click checkout experience. This is the front door to commerce 3.0 for our clients. DEUNA solves the conversion, fraud and acceptance rate challenges with a single integration.” Activant Capital led the series A round with participation from Valor Capital , Abstract Ventures , Acrew Capital , Upload Ventures and founders from Plaid , Kavak , Jeeves , Xepelin , iFood , R2 and others. Tesorio raises $17M in series B Accounts receivable management platform Tesorio announced Tuesday it has raised $17 million in series B funding led by BAMCAP Ventures . The funding follows a third consecutive year of triple-digit growth, according to a statement. Tesorio’s platform includes collections automation, a collections dashboard, customizable dunning, dynamic workspace functionality and streamlined payments. The San Francisco-based company has raised a total of $33.9 million over six rounds, according to Crunchbase . Bank Automation Summit Fall 2022, taking place Sept. 19-20 in Seattle, is a crucial event on automation and automation technology in banking. Learn more and register for Bank Automation Summit Fall 2022 .

Fintech Funding: UAE digital bank YAP raises $41M

YAP plans to complete its series A by yearend

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Fintech Funding: UAE digital bank YAP raises $41M

YAP plans to complete its series A by yearend

Banks, payments hit as Rogers suffers major network failure in Canada

Banks better prepared for the second wave of PPP forgiveness applications

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