Wafeq Raises SAR 28 Million to double down on Saudi Arabia operations
90% of Wafeq’s SAR 1.5 billion worth of invoices are issued in KSA every month
AFEQ (WWW. WAFEQ.COM), A MODERN AND EASY-TO-USE ACCOUNTING PLATFORM, TODAY ANNOUNCED THE COMPLETION OF ITS $7.5 MILLION SERIES A FUNDING ROUND (SAR 28 MILLION).
This investment brings together globally renowned accounting software investors and executives, including 9900 Capital’s Managing Partner Chris Corbishley, who led the round and previously invested in Pennylane, France’s unicorn accounting platform, and Payhawk, another European unicorn in the financial planning
and spending management space. Individual investor Gary Turner, who established and led the Europe, Middle East & Africa operations of Xero, one of the largest accounting software companies in the world, also participated.
Existing investors Raed Ventures and Wamda Capital reaffirmed their support for Wafeq by participating in this round.
Built to help SME owners run their businesses better, Wafeq has been at the forefront of regional accounting transformation.
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Float Raises $70 Million to Fix Canada’s Business Banking Problem
Float launched its first product in 2021, a single corporate card and a simple mission: cut through the red tape and give businesses the financial tools they need to move faster.
THE “BIG FIVE” BANKS WERE NOTORIOUS FOR UNDERSERVING NON-ENTERPRISE COMPANIES WITH HIGH COSTS, LOW EARNING RATES AND SOME OF THE WORST SUPPORT EXPERIENCES—ALL ON TOP OF ANTIQUED OR VIRTUALLY NON-EXISTENT SOFTWARE. CANADIAN BUSINESSES WERE—AND STILL ARE—FINDING SUCCESS DESPITE THEIR FINANCIAL INSTITUTIONS.
Since then, we’ve kept that mission but expanded our financial platform with products to automate accounts payable, make reimbursements frictionless and surface real-time insights into company spending.
Float now also offers virtual and physical cards in both CAD and USD, highyield accounts and nextday fund transfers and payments, providing faster, more flexible alternatives to traditional banking services. Today, more than 4,000 businesses use Float to manage team spend, earn high-interest on cash reserves and save days of manual reconciliation.
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Introducing Greg Strickland as Ignition’s new CEO
IT GIVES US GREAT PLEASURE TO ANNOUNCE THAT IGNITION’S GLOBAL PRESIDENT, GREG STRICKLAND, IS NOW THEIR NEW CEO AS GUY PEARSON TRANSITIONS INTO AN EXECUTIVE CHAIRMAN ROLE TO FOCUS MORE ON STRATEGY. GUY PEARSON EXPLAINS:
When you start a business, you aim to solve a problem for a market, build a business model that makes sense (and scales), then remove yourself as the last bottleneck of the processes in the business and become an owner and thought partner for the operators of the business.
This is what I used to
talk about with my clients when I ran my accounting firm (Scendar) and what I’ve preached on webinars, talks, and keynotes around the world at conferences and online over the last 10+ years.
It’d be a shame not to follow my own advice.
Greg has been with Ignition since 2024 based out of San Francisco and brings all the things I don’t have to the table:
• He’s worked at a software company before (actually been COO at a number of them);
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Pg
Moneypenny launches new Call Tracking Service to help businesses unlock the true ROI of their marketing campaigns
MONEYPENNY IS EXCITED TO ANNOUNCE THE LAUNCH OF ITS NEW CALL TRACKING SERVICE, WHICH HAS BEEN CREATED IN PARTNERSHIP WITH RULER ANALYTICS, A MARKETING MEASUREMENT PLATFORM.
This innovative solution, the first of its kind created with Ruler, empowers businesses to gain valuable insights into the exact marketing campaigns, ads, web pages, and even specific keywords that drive phone calls to their business.
XU BIWEEKLY - No. 97
Newsdesk:
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In today’s competitive landscape, phone calls are still one of the most valuable forms of customer engagement, and understanding how they are generated is crucial to maximising marketing ROI. With Moneypenny’s Call Tracking service, businesses can now track the journey of each call back to its source, providing a clear picture of which marketing strategies are performing best and how Moneypenny is adding value.
Key features of Moneypenny’s Call Tracking:
• Comprehensive Call At-
tribution: Gain full visibility into which campaigns, ads, landing pages, and keywords are driving the most valuable calls, enabling smarter marketing decisions.
• Professional Call Handling: Not only will you know where the calls are coming from, but you’ll also ensure that every call is answered promptly and professionally by Moneypenny’s expert team, delivering a seamless customer experience.
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HedgeFlows Secures Expanded FCA Approval to Revolutionise Treasury Solutions for HighGrowth and Mid-Sized Businesses
FINTECH COMPANY
HEDGEFLOWS HAS ANNOUNCED THAT IT HAS SECURED BROADER REGULATORY APPROVAL FROM THE FINANCIAL CONDUCT AUTHORITY (FCA), POSITIONING IT AS A LEADING PROVIDER OF TREASURY MANAGEMENT SOLUTIONS FOR HIGHGROWTH AND MID-SIZED BUSINESSES OPERATING OR TRADING INTERNATIONALLY.
This milestone allows HedgeFlows to expand its suite of services, offering a range of cutting-edge solutions aimed at enhancing
the financial operations of its clients. These include:
Multicurrency Accounts Payable Automation –Seamless integration with software such as Xero, Quickbooks, Netsuite, and Dynamics Business Central for efficient global trade and payroll.
FX Management Automation – Advanced tools for businesses to effortlessly plan and manage currency exchanges in international markets.
Cash Management Solutions – Enhanced visibility
and efficiency in managing cash flow and multi-currency balances.
Neh Thaker, Co-Founder at HedgeFlows, remarked, “Securing wider regulatory approval is a testament to our commitment to providing innovative and secure treasury solutions for startups, scaleups and mid-sized businesses.”
HedgeFlows has developed a reputation as a trusted partner for companies seeking to overcome the complexities of international finance.
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ERO, THE GLOBAL SMALL BUSINESS PLATFORM, TODAY ANNOUNCED AN EVOLUTION OF ITS BRAND, INTRODUCING THE TAGLINE - 'YOUR BUSINESS SUPERCHARGED' - SIGNALLING ITS COMMITMENT TO PROVIDING SMALL BUSINESSES AND THEIR ADVISORS WITH THE TOOLS, INSIGHTS, AND CONNECTIONS THEY NEED TO THRIVE.
For the third time in the company’s history, Xero is aligning its brand promise to reflect the value it provides customers today and in the future. “Our platform is more
powerful, personalised and automated than ever before and ‘Your business supercharged’ synthesises the overall benefit our customers have come to know and expect,” says James Kyd, Executive General Manager of Brand and Marketing at Xero.
“Small business owners know what’s best for their business and accountants and bookkeepers play a pivotal role in helping realise these aspirations. 'Your business supercharged' reflects this while also acknowledging the role Xero plays - by providing an intuitive platform, actionable insights,
and access to an expert community.”
“In developing 'Your business supercharged', we engaged in extensive conversations with small businesses and their advisors.
This feedback played a crucial role in shaping the platform, ensuring it resonates with the needs and aspirations of our customers.
They expressed a strong belief that 'Your business supercharged' effectively captures how Xero can help them to unlock growth and achieve the freedom they desire,” says Kyd.
Xero partnered with brand consultancy, Interbrand, leveraging their network across London, New York and Sydney to build a truly global positioning. Market research firm, Insights Exchange, supported through the delivery of large scale research across key geographies.
“Small business owners crave control, and they want to feel that they have the specific support they need for their business.
"Accountants and bookkeepers want to help their clients grow. These insights are true around the world,
for current and potential Xero customers alike. We are delighted to have collaborated with the Xero team around the world to develop their new global brand platform and are excited to see what’s next,” says Sam Ashken, Senior Strategy Director at Interbrand.
To bring 'Your business supercharged' to life, Xero will be launching a new marketing campaign featuring a series of ads that will begin rolling out across Australia, New Zealand, the UK, the US, South Africa, Canada, and Singapore.
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Industry Leaders Keri Gohman and Dan
Wernikoff Join BILL
BILL (NYSE: BILL), A LEADING FINANCIAL OPERATIONS
PLATFORM FOR SMALL AND MIDSIZE BUSINESSES (SMBS), TODAY ANNOUNCED THAT INNOVATIVE FINTECH EXECUTIVE KERI GOHMAN AND VISIONARY SOFTWARE LEADER DAN WERNIKOFF HAVE JOINED THE COMPANY’S BOARD OF DIRECTORS.
“The market opportunity for BILL is immense as we deliver new innovations through our essential financial operations platform for SMBs,” said René Lacerte, CEO and Founder of BILL.
“Keri and Dan bring significant product, operational, and leadership expertise across financial services and B2B software companies, as
well as strong governance experience from both public and private boards. With their strong track records driving growth, they will be tremendous assets to help us extend BILL’s category leadership.
Keri Gohman
Keri has spent her career innovating in financial services working across payments, banking, and the accounting sector. She is a proven software and fintech executive with a track record of scaling SaaS businesses for growth, including in the legal and accounting markets. She has held leadership and strategy roles with established financial services firms and technology companies, including GE, Capital One, Intuit, and Xero. At Capital One she led
Caseware Announces Acquisition of LeaseJava
SaaS solution enables automation of complex lease accounting calculations, ensuring precision and simplification
CASEWARE, A GLOBAL LEADER IN CLOUD-ENABLED AUDIT, FINANCIAL REPORTING AND DATA ANALYTICS SOLUTIONS, TODAY ANNOUNCED THE ACQUISITION OF LEASEJAVA, A SOFTWARE-ASA-SERVICE (SAAS) SOLUTION DESIGNED AND DEVELOPED BY LEASING STANDARDS EXPERTS.
Cloud-based LeaseJava enables audit firms, corporations and non-profit/ government entities to manage their leases and ensure compliance with accounting standards such as ASC 842, IFRS 16 and GASB 87. These standards were published by the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB), and Governmental Accounting Standards Board (GASB) respectively.
LeaseJava provides support for lease modifications without the need to create a new lease, as modifications can easily be added to existing leases, considerably simplifying the process for auditors.
The solution can handle complex and nuanced scenarios, computing details down to the daily level and
aggregating them to manage intricate situations. Export functionality is configurable, allowing the user to select and group leases accurately. Additionally, LeaseJava offers weighted average computation and a bulk import feature to enhance ease of use.
Caseware’s US customers will be the first to benefit from LeaseJava. The organization also plans to extend the solution’s availability to other markets, including Canada and the UK.
David Osborne, chief executive officer of Caseware remarked, “With accounting standards requiring detailed lease reporting, LeaseJava helps auditors ensure that companies are fully compliant."
"We are proud to partner with Michael Cheng, a respected and visionary leader in the world of audit who conceptualized the LeaseJava solution. The automation of complex lease accounting calculations delivers precision and simplification, handles large datasets with ease and saves significant time that can be allocated to other critical tasks.”
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the Small Business Bank, including the build and launch of the digital small business banking suite. She is currently a board member at CARET and was previously the CEO. She is also a board member at Practice Tek, and has served as an Operating Partner and Senior Advisor at technology investment firm Bain Capital Ventures.
“Throughout my career in fintech and software, I have been passionate about accelerating technology innovation across banking, SaaS, and financial services companies,” said Gohman. “BILL is at the center of the financial operations for businesses and understands deeply how SMBs and accountants deserve truly impactful technology solutions to optimize business and deliver
Board of Directors
for customers. I’m thrilled to be joining the BILL board.”
Dan Wernikoff
Dan has a proven track record of innovation in the software and payment industries, especially serving SMBs, with over 15 years of experience leading well-known business and consumer brands. He most recently served as CEO of LegalZoom, the largest business formation platform, where he led the company through significant growth and a major shift to a subscription-based business model. Prior, Dan held executive roles at Intuit, including EVP and GM of both the small business and the consumer groups. In the small business group, he oversaw the transformation of QuickBooks from a desktop, US-based
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Mayday Welcomes
Vanessa Armstrong to Lead Global Marketing
THE MAYDAY TEAM CONTINUES ITS EXCITING GROWTH TRAJECTORY WITH THE ADDITION OF VANESSA ARMSTRONG, WHO JOINS AS HEAD OF MARKETING.
Vanessa brings extensive expertise in accounting technology, previously Demand Generation Lead at Fathom, and a passion for modern marketing - making her the ideal leader to drive Mayday’s mission forward.
As Mayday’s new Head of Marketing, Vanessa will lead the charge in building and scaling the company’s
marketing efforts, playing a pivotal role in Mayday’s ambitious growth plans.
“I’m thrilled to join Mayday at such an exciting time in its growth. The team is incredibly switched on and passionate about what they do. I can’t wait to get started!” says Vanessa.
Mayday’s CEO, David Tuck, welcomed Vanessa to the team, stating, “We’re delighted to have Vanessa join us. 2024 was an incredible year for Mayday. We quadrupled our revenues."
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software business to a global, cloud-based ecosystem. During his leadership, the first native version of QuickBooks Online was launched with integrated payments, payroll, and a newly created Intuit Partner Platform. In the consumer group, he was responsible for the creation of TurboTax Live. Earlier in his career, Dan held technology leadership roles at Charles Schwab and Bank One.
“BILL has achieved significant scale, processing approximately 1% of US GDP. In a highly compelling market, its growth has been fueled by continuing to transform the way SMBs and accountants use financial automation and there is still a large opportunity ahead,” said Wernikoff. “I have always been passionate about democratizing tech-
nology to support SMBs, so I’m delighted to have the opportunity to serve on the board of BILL.”
Kight and Wagner Stepping Down from BILL’s Board of Directors
Board members Pete Kight and Scott Wagner are retiring from their board roles, with Kight transitioning into a new advisory role as Director Emeritus for BILL.
“I also want to extend my gratitude to Pete and Scott for their years of service on the BILL Board. They have both contributed important expertise to our growth during their tenure, and we wish them the best.” said Lacerte.
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BGL CORPORATE SOLUTIONS (BGL), AUSTRALIA'S LEADING PROVIDER OF COMPANY COMPLIANCE, SELF-MANAGED SUPERANNUATION FUND (SMSF), INVESTMENT MANAGEMENT, IDENTITY VERIFICATION AND AI-POWERED PAPER-TO-DATA SOFTWARE SOLUTIONS, IS PROUD TO ANNOUNCE THE RETURN OF ITS HIGHLY ANTICIPATED BGL MASTERCLASS ROADSHOW IN FEBRUARY AND MARCH 2025.
This must-attend event, coming to all major Australian cities, offers new and experienced BGL clients the chance to advance their CAS 360, Simple Fund 360 and Simple Invest 360 software expertise.
“We’re thrilled to hit the road and connect face-to-
face with our clients” said BGL’s Chief Executive Officer, Daniel Tramontana. “BGL Masterclass 2025 is a valuable opportunity for clients to engage with our product experts and learn best practices, tips, tricks and hacks to unlock the full potential of their BGL software investment. By leveraging these insights, clients can drive efficiency, save time and achieve greater success in their practice.”
“Most clients use just 20% of the features in our software” continued Tramontana. “Imagine the possibilities if they tapped into the remaining 80%! This year’s event is designed to bridge that gap, equipping clients with the knowledge they need to maximise their software investment."
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Caseware Appoints David Marquis as Chief Executive Officer
Industry shifts towards Caseware’s AI-enabled cloud solutions which are driving time savings, higher quality and improved talent retention.
LEADING GLOBAL AUDIT, ANALYTICS AND ACCOUNTING SOFTWARE PROVIDER CASEWARE HAS TODAY UNVEILED THE APPOINTMENT OF DAVID MARQUIS AS CHIEF EXECUTIVE OFFICER. MARQUIS TRANSITIONS TO CASEWARE AFTER FIVE YEARS AT INTUIT, WHERE HE RECENTLY LED THE INTERNATIONAL DIVISION INCLUDING CANADA, AUSTRALIA, THE UK AND OTHER NONUS MARKETS.
Marquis joins at an exciting time for Caseware, which has reached a unique position as a global leader in cloud audit, assurance, financial reporting and data analytics, selling into over 130 countries.
Caseware’s solutions, uniquely for its industry, are built on a single global cloud platform. The company continues to demonstrate deep innovation in technology through initiatives like the Dynamic Audit Solution (in partnership with AICPA and CPA. com) in the US, and AiDA, Caseware’s AI digital assistant which saves time and maintains the highest data security and compliance standards that Caseware has always delivered for the profession.
“I’m honored to join Caseware, a Canadian tech unicorn with a proud legacy of innovation and a mission to empower audit and accounting professionals worldwide,” said David Marquis, chief executive officer, Caseware. “Together, we
have a unique opportunity to redefine the industry, accelerating the benefits that technology can bring to professionals, businesses and the communities they serve.”
Marquis brings a wealth of tech leadership experience from his previous role as a Canada Country Leader for Google. His impressive career also includes an eightyear stint at Bell Canada and foundational roles at RollsRoyce and The Boston Consulting Group.
Mike Sabbatis, board chair at Caseware commented, “David’s appointment marks an exciting new chapter for Caseware as we continue to revolutionize the accounting and audit landscape. His proven leadership, innovative thinking and deep understanding of both technology and the accounting profession make him uniquely qualified to lead our company into the future. "
"With his expertise, Caseware is well-positioned to deliver even greater value to our customers, leveraging cutting-edge AI and cloud solutions to drive quality, efficiency and enable accountants to practice at the highest level of their certification. As part of this transition, I would like to recognize the contributions of Dave Osborne, our departing CEO, who has played a pivotal role in the transformation, growth and innovation at Caseware over the last few years.”
Silverfin partners with Docusign giving accountancy firms seamless documentation in the cloud
SIntegration enables accountants to fulfil rapid signing in a single secured cloud workflow
ILVERFIN, THE CLOUD-FIRST POST-ACCOUNTING SOLUTION, HAS ANNOUNCED A NEW INTEGRATION WITH DOCUSIGN, THE INTELLIGENT AGREEMENT MANAGEMENT COMPANY, TO FACILITATE A SMOOTHER ELECTRONIC SIGNING PROCESS FOR ACCOUNTING FIRMS AND THEIR CLIENTS.
With Silverfin’s solutions used by close to 1,000 accountancy firms in 16 countries, the integration will empower hundreds of thousands of accountants to securely access live trusted
data, on the right document, at the right time, ready for signing.
The integration automates key aspects of the document signing process, allowing accountants to oversee the signing process from within their workflow, removing manual tasks and freeing up time to offer more strategic consultancy.
This means accountants no longer need to invest hours in laborious documents and information transfers from their files into the signing system, eliminating duplication and wasted work.
Silverfin’s cloud-first post-accounting solution will connect to Docusign’s industry standard system via its open API.
Whether it is tax forms or annual accounts that need to be notarised, the new integration will make the process more efficient, giving accountants valuable time back.
Key information including the signatory’s name and role is automatically pulled over to the signing document, eliminating the need for manual input and reducing the chance of human error.
“This integration is key to our commitment to empowering accountancy firms to elevate the delivery and quality of their services. Connecting live data from their systems to the document signing process, means accountants can streamline their work and avoid duplication”, said Martin Nielsen, VP of Product at Silverfin.
“As accounting firms push to deliver excellence for their clients, a seamless workflow and purpose-built tech stack are critical.”
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Firmcheck Partners with R.E.P.R.E.S.E.N.T to accelerate commercial growth
FIRMCHECK, A CUTTING-EDGE PROVIDER OF AML (ANTI-MONEY LAUNDERING) MANAGEMENT SOFTWARE, HAS PARTNERED WITH R.E.P.R.E.S.E.N.T TO ACCELERATE ITS GROWTH IN THE UK MARKET. THIS COLLABORATION BRINGS FIRMCHECK’S INNOVATIVE AML SOLUTIONS TO A WIDER AUDIENCE, HELPING ACCOUNTING FIRMS STOP GAMBLING WITH THEIR COMPLIANCE AND ENHANCE OPERATIONAL EFFICIENCY.
With Firmcheck’s vast expertise and experience in working in accounting technology, they set out to turn AML from a “necessary evil” into something that not only satisfies accountants’ obligations but also
adds value to their firm.
Through a great user experience, we’re turning AML interactions into something that can help firms build stronger client relationships, more efficiently complete AML checks, and keep your whole firm compliant at the same time.
Firmcheck’s Perspective
Kevin Lord, UK General Manager of Firmcheck, shared his excitement about the partnership: “Working with R.E.P.R.E.S.E.N.T is an exciting milestone in Firmcheck’s journey to help accounting firms master their AML compliance. R.E.P.R.E.S.E.N.T’s deep understanding of the financial services sector and their commitment to excellence
Caseware Announces Acquisition of Extractly.ai
CASEWARE, A GLOBAL LEADER IN CLOUD-ENABLED AUDIT, FINANCIAL REPORTING AND DATA ANALYTICS SOLUTIONS, TODAY ANNOUNCED THE ACQUISITION OF EXTRACTLY.AI, THE PROVIDER OF INTELLIGENT DOCUMENT PROCESSING SOLUTIONS THAT STREAMLINE THE AUDIT PROCESS FOR ACCOUNTING AND FINANCE TEAMS.
Founded in 2021, Extractly.ai offers solutions that understand and process accounting and financial documents, delivering actionable results and enabling automated workflows.
This strategic acquisition includes Extractly.ai’s pro-
prietary software solutions, Validate and Extractly+ which are available in all English-speaking markets. Plans to localize Validate are due to be announced in the future.
Validate’s AI-powered algorithms automate the financial statement review process. The cloud-based solution enables accounting professionals in audit and in corporate financial reporting to automate the tedious task of validating the accuracy of their financial statement reports for mathematical accuracy, internal consistency, prior period consistency and consistency across versions.
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make them the ideal partner to support our growth in the UK market.”
Hamish Edwards, Executive Chairman of Firmcheck, added: “R.E.P.R.E.S.E.N.T’s exceptional team and proven track record in scaling businesses are key to driving Firmcheck’s success. We’re proud to work alongside them to revolutionise how firms approach AML compliance. Their proactive and insightful support has already made a significant impact, and we look forward to achieving great things together.”
Antoaneta Pop, Co-founder & Chief of Enablement at R.E.P.R.E.S.E.N.T, highlighted the alignment between the two organisations: “It’s a privilege to collaborate with
the team at Firmcheck. Their dedication to addressing real challenges & providing real solutions in the accounting industry aligns perfectly with our mission to support ambitious businesses to do more & be more.”
James Sundin, Co-founder & Chief Evangelist of R.E.P.R.E.S.E.N.T, added: “The team’s vision and innovative approach are remarkable, and it’s an honour to contribute to their success. This for us is more than growth; we are incredibly selective of who we Represent, Firmcheck’s solution, ongoing support & impeccable reputation is second to none. It is, with delight we welcome the team into the Revolution.”
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Dext announces global availability of Zoho Books integration to further revolutionise bookkeeping automation
DEXT, THE LEADING BOOKKEEPING AUTOMATION PLATFORM AND PART OF THE IRIS SOFTWARE GROUP, IS TODAY ANNOUNCING THE GLOBAL AVAILABILITY OF ITS INTEGRATION WITH COMPREHENSIVE ACCOUNTING SOFTWARE ZOHO BOOKS.
The integration between Dext and Zoho Books offers users a streamlined way to capture receipts, fetch bank statements, automate ex-
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pense categorisation, and improve reporting accuracy, significantly reducing manual work.
Dext will allow users to easily capture all of their business’s financial documentation, whilst automating data entry, categorisation and providing real time analytics. As a result, users will experience improved data accuracy in their financial records within Zoho Books.
AccountsIQ acquires ExpenseIn to solidify its finance software offering for ambitious, mid-market businesses
ExpenseIn joins the AccountsIQ Group, integrating ExpenseIn’s comprehensive expense management capabilities with AccountsIQ’s leading accounting software
ACCOUNTSIQ, A LEADING PROVIDER OF FULLY CLOUDBASED ACCOUNTING SOFTWARE, HAS TODAY ANNOUNCED ITS ACQUISITION OF EXPENSEIN, THE EXPENSE MANAGEMENT SOFTWARE THAT EMPOWERS BUSINESSES TO TAKE CONTROL OF THEIR EXPENSE AND INVOICE MANAGEMENT PROCESS.
ExpenseIn, which joins the AccountsIQ Group and will continue trading with its existing name, shares AccountsIQ’s values and customer-centric approach. Founded in 2015, the company processes over a million expenses every month and has a customer base that spans over 40 countries. Its customers include Ascot, Corpay and Bath Rugby.
The acquisition reflects AccountsIQ’s vision to expand beyond finance teams
into the broader business user function, bringing a multi-product solution to the office of the CFO, including spend card management and embedded payments.
Since Axiom’s investment in June 2024, AccountsIQ has made significant progress in enhancing its market-leading services. This includes the launch of cutting-edge product features and the strategic appointment of a world-class management team.
By integrating ExpenseIn’s advanced capabilities, the Group now supports a combined user base of over 175,000 users, providing a deeper, more integrated solution for modern finance teams.
With plans to grow its team and further invest in product innovation, AccountsIQ is dedicated to delivering empowering tech-
nology that enriches the lives of its customers.
Darren Cran, CEO of AccountsIQ, commented: “Both AccountsIQ and ExpenseIn have a shared vision for innovation and growth, and we’ve had an increasing number of joint customers in recent years. This acquisition bolsters our position as a leading finance management solution for ambitious finance teams in the mid-market, with our combined knowledge and experience allowing us to really understand what our customers need and deliver the technology to match.”
Richard Jones, Managing Director of ExpenseIn, added: “There’s a natural synergy between our companies, as both AccountsIQ and ExpenseIn are passionate about delivering great products and experiences for our customers.”
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Blue J and Karbon Launch Strategic Technology Partnership
BLUE J AND KARBON HAVE PARTNERED TO BRING BLUE J'S GENERATIVE AI SOLUTION FOR TAX RESEARCH TO KARBON'S CUSTOMERS. BY LEVERAGING BLUE J'S ACCELERATED RESEARCH CAPABILITIES ALONGSIDE KARBON'S COLLABORATIVE PRACTICE MANAGEMENT SOFTWARE, ACCOUNTING FIRMS CAN LOOK FORWARD TO STREAMLINING EVEN MORE AREAS OF THEIR PRACTICE. TOGETHER, BLUE J AND KARBON ARE COMMITTED TO MAKING THE ACCOUNTING PROFESSION MORE EFFICIENT.
Through this collabo-
ration, Karbon customers will also gain access to exclusive Blue J benefits. By empowering firms to expedite their tax research and drafting processes, Blue J enables Karbon customers to dedicate more time to the tasks that matter most to clients. With more time to focus on the work that sets their firms apart, Karbon customers gain a distinct competitive advantage over other accounting firms. In pairing better tax answers with practice management, Blue J and Karbon are transforming the way tax experts work.
"The partnership between Blue J and Karbon
Hyperline has raised $10M led by Index Ventures
HYPERLINE, THE NEXT-GENERATION MONETIZATION PLATFORM, HAS RAISED $10 MILLION IN A SEED EXTENSION ROUND LED BY GLOBAL VENTURE CAPITAL INVESTOR, INDEX VENTURES, TO HELP SMALL AND MEDIUM-SIZED BUSINESSES TRANSFORM REVENUE MANAGEMENT.
represents a shared commitment to empowering tax and accounting professionals with the tools they need to excel," said Tara Cybulski, Director of Partnerships at Blue J.
"By combining our complementary expertise, we’re creating a unique opportunity for firms to enhance their efficiency, precision, and overall client service. We’re thrilled to extend exclusive benefits to Karbon customers as part of this collaboration, reinforcing our dedication to driving innovation and value in the industry."
The subscription economy has evolved significantly over the past decade as businesses adopted hybrid revenue models to create diversified income. Pricing and billing have become increasingly complex for modern businesses, but they have been let down by legacy providers ill equipped for this new complexity.
The trend towards more bespoke, flexible pricing models clashed with the status quo in billing software. This has created a new market opportunity for Hyperline to step in with a new kind of platform built for today’s needs — offering the simplicity buyers now expect.
Scaling a business demands a strategic approach to pricing, precise anticipa-
tion of customer intent, and frictionless payments. Their customers lack flexibility on pricing models, have to work around outdated integrations and struggle to ensure data consistency across teams. Achieving this now hinges on a billing platform designed to deliver effortless pricing, seamless workflows, powerful automation, and a comprehensive ecosystem of integrations. With further seed investment, Hyperline is now able to scale distribution to respond to millions more businesses to help them manage the entire revenue process with a single, automated platform.
Commenting on how the investment will be used, Lucas Bédout, CEO of Hyperline, says: “The market is crying out for a new kind of monetization platform. Our team and product are in place and the feedback from customers is beyond expectations, so we’re excited to scale our distribution engine and extend our reach beyond the early adopters. Demand for a more flexible, automated revenue management solution is growing fast - especially as people realize the gains of our platform within just a few weeks.”
Hyperline breathes new life into SaaS with endto-end monetisation and rapid integration
Hyperline has enjoyed early product market fit by delivering an end-to-end monetization solution that covers everything from contracts and quotes all the way through to invoicing, subscriptions, payments reconciliation, and analytics while providing unlimited flexibility on pricing.
This enables businesses to effortlessly manage established models while adopting major trends such as AI features, usage-based models and outcome-based pricing.
Hyperline’s rapid success is driven by its exceptional product quality and swift implementation process. While competitors often require months for integration, Hyperline consistently onboards new customers within a week, transforming what is typically a complex and time-consuming process into a smooth and hassle-free experience.
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Hyperline secures further $10m seed investment led by global venture capital investor Index Ventures as international demand for a new way to automate billing soars. This brings total seed funding to $14m.
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PayPal Ventures Invests in Olé Life
OLÉ LIFE, A LEADING LATIN AMERICAN INSURTECH COMPANY, TODAY ANNOUNCED THAT IT HAS RAISED $13 MILLION IN SERIES B FUNDING, LED BY PAYPAL VENTURES WITH PARTICIPATION FROM MUNDI VENTURES, AV8 AND ADVENT MORRO.
Olé Life is redefining how families access and experience financial protection with products that are easy to acquire and offer longterm stability. Olé plans to use the funding to accelerate its growth across Latin America by setting up local operations in key markets. The company is poised to evolve beyond life insurance and plans to introduce new products that address the unique needs of Latin American consumers.
“As the first fully-digital life insurance product in Latin America, this funding is a testament to the incredible progress we’ve made in building a platform that resonates with our custom-
ers,” said Michael Carricarte, Founder & CEO of Olé Life.
“With the support of PayPal Ventures, we are poised to expand our reach beyond USD-denominated term life policies and introduce groundbreaking offerings, such as whole-family protection plans that address the region's unique needs. This investment is a pivotal step toward transforming how financial protection is delivered empowering millions of families to secure their futures.”
Backed by a team of industry veterans, Olé Life has achieved significant traction over the past few years, demonstrating strong product-market fit and validating its unique approach to life insurance. With over $2 billion in total insured value and more than 4,000 distribution partners choosing Olé for its innovative offerings, the company is well-positioned to leverage this extensive network to address the growing demand for insurance across the region. By combining
cutting-edge AI technology with over 30 years of experience working in insurance in the region, Olé has created the perfect formula to understand and address the unique needs of the market, empowering families with tailored financial protection solutions.
“Olé’s vision of democratizing financial protection aligns with our commitment to supporting innovation that drives inclusion and empowerment,” said Alexandros Bottenbruch, Principal at PayPal Ventures. “We’re excited to support their journey as they enable broader access to valuable USD-denominated protection and financial savings assets for consumers throughout Latin America.”
With this investment, Olé Life is positioned to lead the transformation of the insurance industry in the region, pioneering new solutions and setting a new standard for the entire insurance industry.
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Tuscan rebrands to Allica Bank as it expands team and offering
FOLLOWING ITS ACQUISITION BY ALLICA IN AUGUST LAST YEAR, BRIDGING LENDER TUSCAN CAPITAL HAS TODAY ANNOUNCED IT HAS BEEN FULLY INTEGRATED INTO THE ALLICA BANK BRAND.
The acquisition represented Allica’s first entry into the bridging market, with it aiming to become a breakout bridging lender by combining Tuscan’s specialist bridging expertise with its own extensive funding base and distribution network
With the rebrand having now taken place, Tuscan’s name, logo and website have all switched to Allica Bank branding – including Allica’s iconic orange bowler hat – and its team have all officially become part of Allica.
Alongside the rebrand, Allica has announced a range of pricing and service improvements for its bridging proposition – an early signal of how it plans to use its resources to build its proposition. This includes reducing its pricing for residential bridging, further improving its FastTrack application process, and doubling-down on its
commercial bridging proposition.
To meet a growth in demand, Allica’s newly-rebranded bridging business development, underwriting and client services teams have also been expanded across the UK. Among others, Scott McClymont joins from Signature Finance as Business Development Manager for Scotland, Andy Reeder has been promoted to the role of Business Development Manager for the Home Counties, while John Craig has been promoted to take charge of the client services department.
The news comes off the back of a year of significant growth for Allica, which in December revealed it had lent over £3 billion to established SMEs since it launched, and was named as the fastest-growing company in the UK in The Sunday Times 100 list.
Colin Sanders, who founded Tuscan Capital, said, “I am really pleased with how the integration of Tuscan into Allica has gone so far. The joint vision that I and the Allica team had to truly shake up the bridging market by building a bridging lender with extensive lend-
ing expertise, the ability to move fast, and provide certainty in funding is already bearing fruit.
“This rebrand is a major final step in the integration of Tuscan into Allica, but we’re still only at the beginning of what Allica’s bridging proposition will be. The new hires we’ve brought into the team and proposition enhancements are great proof of this. My former Tuscan colleagues and I are excited to be a part of it.”
Justin Trowse, Head of Bridging at Allica Bank, commented, “The initial months working with the team have been incredibly productive and we’re delighted that they are now officially part of the Allica family.
“Allica’s ambition is to build a £500 million bridging loan book by 2027, a goal that relies on meeting genuine market needs. With our strengthened internal expertise, the knowledge gained from years in the market, and the constructive feedback we continue to receive from our outstanding broker community, we are well-positioned to achieve this ambitious target.”
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Airwallex invests in Latin America growth with Brazil and Mexico entries
TODAY, AIRWALLEX ANNOUNCED SEVERAL MILESTONES IN ITS GLOBAL EXPANSION STRATEGY: SECURING A PAYMENT INSTITUTION LICENSE FROM THE BANCO CENTRAL DO BRASIL, AND FINALIZING THE ACQUISITION OF MEXPAGO, A MEXICO-BASED PAYMENT SERVICE PROVIDER AND AN INSTITUTION OF ELECTRONIC PAYMENT FUNDS (IFPE) LICENSE-HOLDER.
With these two licenses secured, Airwallex will link its global financial infrastructure to Latin America’s two largest economies to enable support for companies in Brazil and Mexico and facilitate international businesses’ entry into the region.
“Our infrastructure strategy is to connect diverse and strategically significant markets around the world,” said Ravi Adusumilli, President, Americas at Airwallex.
“With licenses in Brazil and Mexico, we can help companies in Latin America to expand and thrive across borders, while also helping businesses around the world to operate more seamlessly in these two dynamic economic markets.”
Unlocking Brazil's B2B Payment Market
Brazilian consumers have been at the forefront of payment digitization – PIX, Brazil’s instant payment network will account for an estimated 40 percent of online
payments in Brazil by 2026.
However, B2B payments in Brazil have lagged behind in digitization, particularly for cross-border transactions, which remains a painful process for Brazilian businesses.
To tap into Brazil’s B2B payment opportunity, Airwallex has obtained a payment institution license to offer services to Brazilian businesses, including local accounts, card issuing, and payment acquiring; as well as participation in the open banking ecosystem in Brazil. Airwallex plans to launch additional services for global customers in 2025, including access to a bank account in Brazilian Reais with a unique identification number, as well as payment and collec-
tion methods like PIX and Boleto.
Driving Cross-Border Opportunity in Mexico
Demand for digital financial tools is surging in Mexico, driven by the growing need for efficient cross-border payment solutions. An estimated 85 percent of SMEs in Mexico anticipate expanding their international business activities, while cross-border transactions already account for 22 percent of the country’s e-commerce activity. Mexico also stands out as the fastest-growing market for cross-border transactions in the region, with a CAGR of 44 percent. This growth is further fueled by Mexico's increasing significance as a strategic trading partner to
the U.S., recently overtaking China to become the top exporter of goods to the U.S. for the first time in two decades.
“Mexico plays a pivotal role in the global economy, serving as a key link between North and South America and a critical hub for cross-border payments,” said Luis Castillejos Ordaz, CEO and founder of MexPago. “We're proud to join forces with Airwallex to enable seamless and secure cross-border transactions for businesses worldwide. MexPago’s domestic capabilities combined with Airwallex’s global reach will deliver even greater value to our shared customers. Together we will unlock borderless opportunities for businesses here in
Latin America and around the world.”
Castillejos will take on a new role as Country Manager for Airwallex, Mexico where he will be responsible for managing operations, driving growth, and helping Airwallex’s existing and prospective customers navigate entry into Mexico.
The expansion into Brazil and Mexico adds to Airwallex’s existing licenses across major markets around the world, including Australia, the European single market, Canada, Malaysia, Hong Kong, New Zealand, Singapore, mainland China, the United Kingdom and the United States.
Tide launches new carbon calculator to help SME's reach Net Zero
TIDE, THE LEADING BUSINESS FINANCIAL PLATFORM IN THE UK, HAS LAUNCHED AN AUTOMATED CARBON CALCULATOR DEVELOPED IN PARTNERSHIP WITH CARBON MEASUREMENT PIONEER CONNECT EARTH.
The new tool will allow Tide’s 650,000 UK members (customers) to view an estimated and categorised understanding of their carbon emissions. The insights mark the first phase in Tide’s
longer-term aim to support its UK members eventually get to net zero. Members will be able to see estimated emissions in real-time and measure any changes over time via Connect Earth’s carbon dashboard, Connect Insights. Members will be able to understand the potential impact of their spend on carbon emissions. The dashboard provides estimates of carbon-related data for overall carbon emissions, via category split, using Connect Earth’s models and databases.
In 2023, Tide made a pledge to make it simpler for its members to get to net zero, by developing support for them to reach carbon neutrality.
The partnership means that Tide and Connect Earth will also introduce tools such as automated carbon accounting for bank transactions, invoices, and accounting data.
The goal is to offer further insights, recommendations, and strategies that help
businesses reduce emissions while saving time and money.
Tide’s plans don’t stop in the UK. With more than 400,000 members in India and its expansion into Germany earlier in 2024, the platform is set to roll out carbon-related products globally.
By 2030, Tide has targeted a further one million tonnes of durable carbon removal (CO2e) from the atmosphere by activating its
Airwallex bolsters its UK payment capabilities with ClearBank partnership
CLEARBANK, THE ENABLER OF REAL-TIME CLEARING AND EMBEDDED BANKING, TODAY ANNOUNCED ITS PARTNERSHIP WITH AIRWALLEX, A LEADING GLOBAL PAYMENTS AND FINANCIAL PLATFORM FOR MODERN BUSINESSES. THROUGH THIS COLLABORATION, AIRWALLEX WILL LEVERAGE CLEARBANK'S AGENCY BANKING SOLUTION TO ENHANCE ITS UK OFFERING WITH VIRTUAL BUSINESS ACCOUNTS, GBP COLLECTIONS, AND CONFIRMATION OF PAYEE (COP) FUNCTIONALITY.
ClearBank has enabled the global fintech to issue virtual accounts and IBANs under its own brand identity.
This reinforces Airwallex’s robust financial
platform, while also allowing the company to maintain seamless customer branding.
Through the partnership, Airwallex will have access to UK payment schemes, including Faster Payments, BACS, and CHAPS, accelerating Airwallex's strategic goal of helping businesses simplify their global payments and financial operations, unlock new opportunities, and grow without limits.
The partnership is founded on the companies’ shared ambition to utilise innovative technology to bring streamlined financial services to more customers in new markets.
It also highlights a growing demand for innovative financial solutions that combine the flexibility of fintech
with the security of traditional banking.
ClearBank’s cloud-based approach allows for efficient integration, enabling Airwallex to deliver the features and functionality businesses need to make payments faster and more cost-effective.
Vivien Cheung, Head of Financial Partnerships, EMEA at Airwallex, said:
“Our priority is to provide businesses with fast, flexible and seamless financial services."
"ClearBank’s agency banking solution aligns perfectly with our vision, allowing us to enhance our product offering in the UK while maintaining our brand identity."
"The team’s deep under-
standing of our business needs and their speed of execution have been invaluable throughout the partnership development and integration process.”
John Salter, Chief Customer Officer at ClearBank, said:
“We’re proud to partner with Airwallex as the business enters its next phase of growth."
"Our unique combination of innovation and security was essential in supporting the premium customer experience that Airwallex is looking to provide."
"We look forward to deepening our relationship with Airwallex as we explore further opportunities for collaboration.”
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powerful network of member businesses.
Gurjodhpal Singh, Tide India CEO and Head of Net Zero, said:
“Around 99% of UK businesses are SMEs, and while many of them wish to cut emissions, two-thirds have admitted that financial barriers often stand in the way."
"SMEs may have a smaller footprint individually, but they collectively con-
tribute 43-53% of the UK’s business greenhouse gas emissions."
"We’ve already seen huge engagement from our members and today’s launch is significant, not only for Tide and the fintech industry but more importantly for SMEs. It gives them the resources they need to measure, monitor, and manage their emissions — directly through their Tide accounts.”
