Fintech Weekly News Roundup September 4

This week’s top fintech news features several key developments, including a major investment round and acquisition plans by TabaPay, a US-based payments processor. TabaPay has raised $155 million in a strategic growth financing round led by FTV Capital, its first institutional investment figure revealed to date. The round has brought FTV Capital partner Robert Anderson onto the TabaPay board of directors.

The investment will be used to fund the acquisition of Transact Bank NA in Colorado, a federally chartered and FDIC-insured bank operating out of Denver. Once the acquisition is closed, expected in Q4 2026 subject to regulatory approval, Transact Bank will be rebranded as TabaBank NA. TabaBank will complement TabaPay’s existing partner bank network, providing additional redundancy and expertise for challenging use cases.

OpenPayd and MSB USA Integration

Serial fintech founder Dr Ozan Ozerk is merging two of his portfolio companies, London-based OpenPayd and MSB USA in Texas, ahead of a planned $1.145 billion SPAC merger and Nasdaq listing expected later this year. The move will integrate MSB USA into OpenPayd, a Banking-as-a-Service (BaaS) and embedded finance platform.

The integration will bring to the OpenPayd group the 43 state money transmitter licenses held by MSB USA, providing increased geographic reach for OpenPayd’s global clients operating in or expanding into the US. OpenPayd has been seeking to list in the US since June, when it revealed plans to merge with special purpose acquisition company Titan Acquisition Corp.

Ingenico’s New Appointments

French paytech Ingenico has made several new appointments, onboarding a new chief technology officer (CTO), chief product officer (CPO), chief revenue officer (CRO), and chief customer excellence officer (CXO). Paul Gardiner has been appointed CTO, succeeding Patrick Blanc. Maria Parpou joins from Mastercard as CPO, taking over from Erik Vlugt, who departed Ingenico in July.

The new CRO is Ieuan Owen, bringing experience from Xplor, Monitor Deloitte, Royal Mail, and Worldpay. Colt Technology Services veteran Oliver Moore joins as CXO. Last month, Ingenico secured a €150 million investment to reset its capital structure and serve as the foundation to propel the company into its next phase of growth.

Related: Study Shows AI Adoption Boosts Company Revenue Growth

Remittance Platform Félix

US-based cross-border paytech Félix has scored $200 million in a mix of equity and debt to expand beyond remittances into AI-powered financial services. The investment includes an Andreessen Horowitz-led $87 million equity raise that also saw participation from QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst.

Félix also secured a $113 million credit line commitment from General Catalyst’s Customer Value Fund. With the new funding, the firm plans to expand its product suite, highlighting lending and savings as areas of interest. Félix is also looking to broaden its use of AI in the platform, building out its product offering around its Cognitive Financial Companion.

TD Bank’s Tokenised Payment Trials

TD Bank Group in Canada has completed its first live trial of tokenised asset settlement using the shared blockchain-based ledger created as part of Project Agorá. The domestic test routed live US dollar funds between TD Bank NA and TD New York Branch (TD Securities LLC), using Bank of New York as the clearing intermediary.

TD states that the trial demonstrated the ability to issue tokenised money on the Agorá platform and facilitate the instant movement of money, with atomic settlement, between the two TD entities. The latest trial under Project Agorá builds upon TD’s previous work with tokenisation, including a collaborative pilot with the Bank of Canada, Royal Bank of Canada, and Export Development Canada.

These developments are changing the fintech industry. Companies like TabaPay, OpenPayd, and Félix are pushing the boundaries of what’s possible in payments and financial services. Consumers and businesses will feel the impact in the form of increased convenience, accessibility, and innovation.

Regulatory approval plays a significant role in shaping the future of fintech. Companies like TabaPay and TD Bank must balance innovation with compliance as they appoint risk chiefs and handle complex financial regulations. The outcome of these efforts will determine the pace of progress in the industry and the extent to which new technologies can be harnessed to benefit consumers and businesses.