back Back

Modulr receives strategic investment from FIS Ventures

By Megha Bhattacharya

April 15, 2021

  • Europe
  • Modulr
Share

modulrFinTech Modulr has secured new investment from FIS Ventures. The FinTech stated that FIS aims to utilise its API-based payments infrastructure to facilitate and automate real-time, business-to-business, payments in the U.K. and Europe as part of FIS’ broader real-time payments strategy.

Myles Stephenson, CEO at Modulr commented, “FIS and Modulr share the same ambition, to enable businesses to move fast and transform their payment processes, software and experiences in line with the digital world. We look forward to working with FIS to develop and deliver better payments solutions and innovative services to businesses of all sizes.”

Recently, Modulr announced that it has teamed up with Intuit QuickBooks to power its new QuickBooks Business Account, a new digital payment account designed specifically for small businesses. The collaboration is expected to allow QuickBooks to combine a business account with its suite of bookkeeping, accounting and tax tools.

Asif Ramji, chief growth officer at FIS, commented, “Our investment in Modulr is a key component of our comprehensive vision at FIS to bring the full power and potential of real-time payments to organizations at a global scale. Working with Modulr, we’ll be able to help our clients in the UK and EEA market accelerate their journey to digital payments, as well as work towards delivering a suite of new global real-time payment propositions.”

NALA Money, a Tanzanian startup also announced that it has become an Electronic Money Directive agent with its partnership with Modulr. The development comes before the scheduled launch of its transfer app for the UK’s East African Diaspora. With the launch, the FinTech will be able to launch a range of financial services from the UK to East Africa.

Previous Article

April 14, 2021

Digital-first FinecoBank rolls out new ISA product for savers

Read More
Next Article

April 15, 2021

InsurTech 360F appoints former Temenos APAC MD to its board

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Europe

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

SWiM PAY launches new instant digital payments feature

Read More

Today

Mangopay & ManoMano simplify payments for marketplace sellers

Read More

Today

Alawneh Exchange taps TerraPay to enhance cross border payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024