The Weekly Wrap: all you need to know by Friday COB | August 2nd

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

Airwallex, a global payments and financial platform for modern businesses, has selected GoCardless to provide direct debit to its customers across several key markets.

Through GoCardless Embed, a white-label integration, Airwallex connects to the GoCardless global bank payment network, helping Airwallex customers to expand into new verticals and use cases where direct debit is preferred.

Airwallex has launched the service in the UK, with Europe expected to follow soon. The announcement is the latest move from Airwallex, which is committed to supporting businesses of all sizes in achieving their global growth ambitions.

Justin Leung, Financial Partnerships Manager at Airwallex, said, “Businesses of all sizes are looking at how they can adapt to evolving customer needs, and payments are no exception. With direct debit continuing to be a trusted and popular way to pay, especially with the rise of the subscription economy, we felt it was the perfect time to strengthen our offering so that our customers can better serve theirs. By working with GoCardless, we were able to provide this option through one simple integration quickly.”

Deals of the week

• Digitt secures $50m in debt facility from CoVenture Management
• Missouri Central Credit Union taps Bankjoy’s product suite to drive new membership
• Cartona, Egypt’s B2B e-commerce platform raises $8.1m
• Wolters Kluwer acquires accountancy portfolio from Isabel Group
• Scottish FinTech Aveni secures £11m to expand AI offering
• NatWest acquires Metro Bank’s $3b mortgage portfolio
• KEO World delivers B2B finance and payment solutions in Canada
• Network International and Biz2X sign SME financing partnership

Be on the lookout for

“Nominations for the IBSi Global FinTech Innovation Awards 2024 are now live! As we prepare for the 6th edition of our esteemed awards, we invite you to join an elite circle of visionaries transforming the financial technology landscape. Every year, we celebrate banking technologists who drive exceptional advancements in the fintech sector, recognizing efforts that redefine industry standards and enhance global financial services.”

“By submitting a nomination, you spotlight your company’s achievements and position yourself among global industry leaders. Our awards recognize a wide spectrum of innovations, from robust core systems to cutting-edge applications of AI and blockchain. No matter if you’re an established industry giant or a dynamic newcomer, the IBSi Global FinTech Innovation Awards offer a platform to showcase your impact on the industry. Explore available categories, learn from past successes, and submit your nominations today to claim your place as a leader in financial technology. Nominate Now!