The Weekly Wrap: all you need to know by Friday COB | June 21st

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

Loop, the modern audit & payment platform for the next-gen supply chain, has announced its collaboration with J.P. Morgan Payments to help make financial operations more accessible and profitable for every shipper, carrier, and third-party logistics provider.

Together, Loop and J.P. Morgan Payments will boost working capital with freight payments and facilitate stronger relationships between carriers and shippers built on speed, transparency, and trust.

Loop’s logistics-AI and automation improve accuracy, speed, and trust, enabling J.P. Morgan Payments to provide capital and payment flexibility with confidence. Together, the firms are unlocking working capital that propels growth and collaboration across the supply chain. In addition, Loop will join the J.P. Morgan Payments Partner Network, which delivers end-to-end payment experiences through an ecosystem of third-party applications that can grow businesses faster, provided by experts in industries such as energy, healthcare, transportation, consumer/retail, and more.

Deals of the week

• Visa relaunches SavingsEdge to strengthen small businesses in the US
• Natwest snaps up Sainsbury’s banking business in £2.5b deal
• Veefin obtains strategic stake in Regime Tax Solutions through its subsidiary
• FinTech Zilch secures £100m debt finance ahead of its public listing
• POP raises $2.4m in Seed Funding from India Quotient to launch UPI Play
• Mexican FinTech unicorn Clip secures $100m investment
• Finbourne Technology raises $55m to drive global expansion
• Dubai-based Payroll FinTech NOW Money secures $4m
• TerraPay & Thredd to power virtual card payments for the travel industry

Be on the lookout for

Money20/20 USA, the premier FinTech event in North America, is set to take place in Las Vegas from October 27-30, 2024. This major gathering will bring together leaders from various sectors of the global financial ecosystem, including banking, payments, technology, startups, retail, and policy. At the 2023 event, we engaged with over 50 top executives, including Malcolm deMayo, Global VP of Financial Services Industry at NVIDIA. Our discussions centered on the groundbreaking advancements in financial services driven by Generative AI and Large Language Models (LLMs). These technologies are ushering in a new era of innovation within the fintech industry, offering transformative solutions and efficiencies.