The Weekly Wrap: all you need to know by Friday COB | June 26th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

Enqura has announced that its AI-driven financial technology platform is now available on Temenos Exchange, expanding access to its suite of digital banking solutions for financial institutions worldwide.

The company said its FinTech Five platform, comprising EnQualify, EnSecure, EnWallet, EnConnect and EnNovate, has joined the Temenos Exchange partner ecosystem. The platform has provided capabilities including digital identity verification, authentication, digital channels, open banking and AI-powered customer communication.

The collaboration has enabled banks using the Temenos platform to access Enqura’s solutions through the Exchange marketplace. According to the company, the integration has been designed to help financial institutions accelerate digital transformation, strengthen fraud prevention, streamline customer onboarding and improve operational efficiency.

Enqura said the availability of its products on Temenos Exchange has reinforced its focus on supporting banks with AI-powered technologies that improve customer experiences, security and digital operations across the financial services sector.

Deals of the week

• Airwallex raises $320m in Series H funding at $11bn valuation
• Meta leads $900m investment in CRED at $4.5bn valuation
• Temenos Exchange integrates Enqura AI platform
• Kaleidofin Capital secures $5m impact debt facility
• FundsIndia raises $5.2m through maiden secured NCD issuance
• Backbase acquires Kasisto to advance agentic banking capabilities
• Sarvam.ai attains unicorn status with $234m funding round
• Deluxe agrees $625m acquisition of Celero Commerce
• Pace FS taps SaaScada to power European payment rollout

Be on the lookout for

Meta has invested $900 million in Indian FinTech firm Cred, acquiring a 20% stake and appointing founder Kunal Shah as global head of WhatsApp. This move signals Meta’s ambition to transform WhatsApp into a super-app in India, similar to China’s WeChat, by integrating payments, shopping, travel, and financial services.

Meta’s strategy builds on Cred’s success—processing over 40% of India’s credit card bills and attracting high-spending customers. While Cred has pledged not to share user data with Meta, critics worry about U.S. tech firms gaining influence over Indian financial data. The challenge for Shah will be expanding Cred beyond its niche of affluent users to India’s middle class, while ensuring compliance with the country’s data protection laws. For Meta, this partnership could finally unlock WhatsApp’s potential in India’s booming digital payments market, where rivals like Google Pay and PhonePe currently dominate.