Moove Secures $100M in Funding Round From Uber and Mubadala

Hi NoRamp Community,

Daily News:

1) Tokenize Xchange Secures $11.5M to Expand in Singapore

2) Figure Raises $60M in Bid to Build a ‘Differentiated’ Crypto Exchange

3) Galileo Expands BNPL Offering for Banks and FinTechs

4) nCino Acquires DocFox to Streamline Account Opening

5) Moove Secures $100M in Funding Round From Uber and Mubadala

Tokenize Xchange Secures $11.5M to Expand in Singapore:

• Tokenize Xchange, a crypto exchange founded in 2017, has raised $11.5 million in a Series A, Phase 2 funding round led by local venture capital firm Trive, with the goal of expanding its operations in Singapore.

• The exchange plans to increase its team from 20 to 100 staff members in the next 18 months, focusing on compliance and operational capabilities, and aims to raise a total of $33 million by the end of 2024.

• Tokenize Xchange has secured full authorization from the Securities Commission Malaysia and is currently operating under an exemption while applying for a digital payment token license in Singapore, with the expansion aimed at navigating regulatory environments in Southeast Asia more effectively.

Figure Raises $60M in Bid to Build a ‘Differentiated’ Crypto Exchange:

• Figure Technologies, a blockchain-focused company, has raised $60 million in Series A funding to build a decentralized exchange called Figure Markets, which aims to compete with centralized crypto exchanges like Coinbase and Binance and offer an alternative to stablecoins.

• The new exchange will use the Provenance blockchain to create a marketplace for various securities, including equities, fixed income, alternatives, and crypto assets, with the funding round led by Jump Crypto, Pantera Capital, and Lightspeed Faction.

• Figure Markets plans to use multi-party computation (MPC) wallets to address single-point-of-failure risks associated with centralized exchanges and is working on a registered security alternative to stablecoins that would pay a yield.

Galileo Expands BNPL Offering for Banks and FinTechs:

• Galileo Financial Technologies has expanded its buy now, pay later (BNPL) offering, enabling banks and FinTechs to provide cardholders with new post-purchase installment payment options on their existing debit or credit cards.

• The expansion aims to bridge the gap between cards and loans, offering flexible financing options and increasing revenue opportunities for banks and FinTechs through installment fees.

• The offering is compatible with all merchants that accept debit and credit cards, providing consumers with transparent total costs for each purchase and potentially improving their credit scores and purchasing power through responsible use of BNPL services.

nCino Acquires DocFox to Streamline Account Opening:

• nCino, a US-based cloud banking technology provider, has acquired fintech startup DocFox, which specializes in commercial bank account opening software, for an undisclosed sum.

• DocFox's technology, which serves over 450 global clients, is designed to automate and streamline the customer onboarding process, reducing the time it takes for businesses to open a bank account from weeks to hours.

• The integration of DocFox's technology into nCino's Software-as-a-Service (SaaS) cloud banking platform is expected to simplify the onboarding and account opening experience for financial services firms, allowing them to manage the entire client lifecycle on a single platform.

Moove Secures $100M in Funding Round From Uber and Mubadala:

• Moove, a global mobility FinTech, has raised $100 million in a Series B funding round, bringing its total valuation to $750 million, with participation from Uber and Mubadala.

• The funding will support Moove's expansion efforts, enabling the company to extend its revenue-based vehicle financing offering to 16 markets globally by the end of 2025, with a focus on electric vehicles (EVs).

• Since its inception, Moove has facilitated over 30 million financed trips for more than 20,000 mobility entrepreneurs across three continents, aiming for profitability by the next financial year and contributing to the UAE's vision for economic diversification and technological advancement.

NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.