The Weekly Wrap: all you need to know by Friday COB | July 14th

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

Temenos announced that Convera, a non-bank global B2B payments provider, has selected Temenos Payments Hub running in the Temenos Cloud to modernise its payments infrastructure.

The move to Temenos Software-as-a-Service (SaaS) will help Convera drive efficiency in payment processing from inbound funding to outbound disbursements. Temenos SaaS will help Convera compete in the highly dynamic payments market.

Patrick Gauthier, Chief Executive Officer, Convera, said: “Temenos payments platform will underpin Convera’s growth strategy as it transforms into a modern, technology-led, global B2B payments organisation focused on innovation, value, and exceptional customer service. After extensive assessment, we selected Temenos for its superior cloud technology capabilities and the trust in the team and its local operations. Temenos is the platform of choice for massive scale; we have a clear path for global expansion and look forward to partnering with Temenos with its global expertise to support us along the way.”

Deals of the week

• Defacto raises $183m debt financing from Citi and Viola Credit
• OneStack raises $2m in its latest funding round
• Revolut enables Tap to Pay for iPhone users in the UK
• German InsurTech hepster closes $11m Series B financing round
• FIS sells Worldpay to GTCR at $18.5b valuation
• FinTech Solaris closes $41m funding round
• PhonePe launches one-stop POS solution for merchants
• Avanti Finance & Credit Saison India partner to boost credit access in rural India
• CrediMax and Mastercard sign strategic partnership to boost digital innovation in Bahrain
• GCC Exchange launches money transfer mobile app and web portal for seamless transactions
• Moss selects GoCardless to fuel its UK expansion
• Eddid Financial and MPAY partner to expand into Malaysia

Be on the lookout for

Returning between 8-9th November in  London, UK, FinTech LIVE London brings together leading organisations, C-suite executives and thought-leaders from the world of fintech for a third year, this time at the QEII Centre.

Discussing the biggest and most innovative ideas to drive the conversation about the world of fintech, insurtech and crypto, FinTech LIVE London offers two days of unmissable content.