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The Weekly Wrap: all you need to know by Friday COB | January 31st

By Puja Sharma

January 31, 2025

  • Cybersecurity
  • Deals of the Week
  • Debt Capital
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The Weekly WrapThe 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

ThetaRay, a global Cognitive AI Financial Crime Compliance and IDB Bank, a New York-based private and commercial bank, have announced a strategic partnership. The collaboration highlights the bank’s dedication to maintaining the highest standards of regulatory compliance and financial integrity while providing efficient and secure service to its clients.

“We are delighted to add IDB Bank in New York to the fast-growing list of global banks using our solution,” said Peter Reynolds, CEO of ThetaRay. “The US is a key market we are growing in, and we see the clear need for financial institutions to continue focusing on their ability to detect financial crime. Our cognitive AI solution distinguishes between the ‘good guys’ and the ‘bad guys’, the legitimate businesses and honest customers looking to make safe transactions, and the bad actors of this world. ThetaRay provides solutions that empower our clients, effectively serving both new and existing customers.”

Deals of the week

  • Formance gets $21m boost for programmable Ledger tech
  • Passbolt secures $8m Series A to enhance password collaboration
  • Egypt’s payments platform MoneyHash raises $5.2m in pre-Series A funding
  • Aslan secures $5m to supercharge employees’ pay
  • TravelPerk raises $200m & acquires spend management platform Yokoy
  • Pluto raises $4.1m pre-Series A to drive KSA expansion
  • Objectway partners with Baader Bank to drive ‘Road to Future’ program
  • UK PayTech Sokin secures $15m funding from BlackRock
  • Yavrio raises $2.4m to bring embedded banking and payments to ERP
  • Mastercard, Money Fellows & Banque Misr launch prepaid card in Egypt
  • Alchemy Pay obtains Digital Currency Exchange Provider approval in Australia

Be on the lookout for

The Dubai FinTech Summit 2025 will be held under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. Organised by the Dubai International Financial Centre (DIFC), this third edition will take place from May 13th to 15th. The summit aims to redefine the future of finance by focusing on innovation, inclusion, and impact. It will bring together global leaders, policymakers, and innovators to discuss key topics such as AI, blockchain, sustainable investing, and digital economies. The event will feature five dynamic stages, including the FinTech World Cup Grand Finale, where finalists will compete for significant investment commitments.

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