Capital markets

Seattle-based digital remittance provider Remitly has raised $220 million in new investments and financing to accelerate its growth in more global markets.

Vehicle payment technology startup Car IQ raised $5 million in a Series A funding round that included Citi Ventures as an investor.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

The fast-growing data company, which says its mission is to help banks be better consumer advocates, will use its cash infusion for hiring, software development and new partnerships.

Aura is one of the few fintechs in the nation to have a community development financial institution designation from the Treasury Department.

The Cincinnati bank could add about $30 million a year in noninterest income with its deal for the capital markets firm Bannockburn Global Forex.

The Dutch company is no longer a bank in some countries, but more of a digital matchmaker between consumers and financial products provided by third parties, explains innovation chief Benoit LeGrand.

Financing and payment technology provider Sunbit has received $26 million in a Series B funding round through Zeev Ventures and participants Group 11 and Chicago Ventures.

India’s government has taken drastic steps to encourage and standardize digital transactions, and those moves appear to be paying off.

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

The Australian API payments and rewards platform provider Verrency has closed on a $7 million (AU$10 million) Series A funding round, bringing the total funds raised to-date to $14 million (AU$20 million).

Payments software provider SpotOn Transact LLC has received $40 million in new funding from Franklin Templeton and participant Dragoneer Investment Group.

Digital payments are creating a wealth of data that can be used to inform other types of financial services for managing debt or promoting financial inclusion — and these services are, in turn, attracting the interest of venture capitalists.

Alkami Technology said it would use its latest round of funding to expand its white-label services for small banks and credit unions.

A trio of big deals in the payments and financial tech area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.

Highland Associates has $26 billion in assets under management on behalf of not-for-profit medical endowments and foundations. Regions Financial is following the lead of other regionals, which have been scooping up investment firms that specialize in health care.

The online lending marketplace will use the equity financing from WestBridge Capital to diversify the digital products its offers banks trying to compete for small-business borrowers, its CEO says.

Northpointe Bancshares sold stock to an affiliate of Castle Creek Capital.

Cross-border money transfer provider WorldRemit has secured $175 million in new capital in a Series D funding round to challenge legacy money transmitters in the fast growing cross-border payments market.

Password management app and secure digital wallet provider Dashlane completed a $110 million Series D funding round led by Sequoia Capital. It also hired Lyft’s chief marketing officer, Joy Howard, to take the same role at Dashlane.