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André Casterman, CMO, Intix, speaks at EBAday 2022 in Vienna about the challenges banks face around payment transaction data, how technology helps face these hurdles and Intix's position with regards to the trends in European payments. 720
Sponsored | what does this mean? This content has been created by the Finextra editorial team with inputs from subject matter experts at the funding sponsor.

EBAday 2022: Helping banks put their payment transaction data to work

NautaDutilh assisted Summa Equity on the deal. Swedish Private Equity firm Summa Equity acquired a majority stake in Intix, a Belgium-based fintech company that provides a […]

Summa Equity’s Acquisition of Intix

47 minutes ago
Summa Equity has acquired a majority stake in Belgian payments tracking firm Intix. Founded in 2011 in Mechelen, Belgium, Intix products provide financial institutions with the capability to view all their transaction data in a unified visual graphical user interface (GUI), as well as in machine readable application programming interfaces (APIs), while identifying irregularities and issuing real-time alerts. Intix's portfolio consists of a number of Tier 1 banks, including KBC, Nordea, Société Générale and Standard Bank of South Africa, who use the company's off-the-shelf technology products to produce quality-assured master data for reporting, compliance and audit purposes. Stockholm-based Summa Equity was founded in 2016 and invests in companies that solve global challenges and create positive Environmental, Social and Governance (ESG) outcomes for society. The transaction is the first from the Summa Equity III fund
Gisle Glück Evensen, partner at Summa Equity, comments: “Money laundering and fraud are massive challenges to the financial system and the society through the activities they support. Intix have made a solution that represents a step change in monitoring and detection capabilities. We have been impressed with the team and their values and look forward to partnering with them for the next leg of the journey.”
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Summa Equity acquires majority stake in transaction tracker Intix

4th March 2022
At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news. Left to right: Michael Do, Anfin co-founder; Louis Nguyen, chairman and CEO, SAM; Phuoc Tran, Anfin co-founder; Hiep Nguyen, Anfin tech lead
Vietnam-based Anfin Company has onboarded Saigon Asset Management (SAM) as an equity investor and a strategic partner. As part of the deal, SAM’s portfolio of investment funds will be offered on Anfin’s stock trading app. SAM will also work with other institutional investors on future investment rounds. Anfin claims to be the first fully digital broker in Vietnam and “a disruptor in the brokerage industry”, offering tradable securities and wealth management products to retail investors via its app. Anfin was founded in mid-2021 by Phuoc Tran (CEO) and Michael Do (chief product officer, CPO). It previously raised $510,000 from Global Founders Capital, First Check Ventures, and R2 Venture Partners, and $125,000 from Y-Combinator. Anfin employs 30 people in Vietnam. Hubuc, an embedded finance platform that calls itself “AWS for financial services”, has raised $10 million in a seed funding round, co-led by WndrCo and Runa Capital. Y Combinator and Village Global, backed by Jeff Bezos, Kenneth I. Chenault, Abigail Johnson, and Bill Gates, also participated alongside a cohort of angel investors. These angels include John Lilly (ex CEO Mozilla), Immad Akhund (CEO Mercury), Lars Fjeldsoe-Nielsen (ex-VP Uber), Bo Jiang (CEO Lithic), John Bautista (partner Orrick), and Anthony Saleh (angel investor in Coinbase and Robinhood). Hubuc was founded in 2021 by Hasan Nawaz (CEO) and Ignacio Javierre (COO), with teams in Europe and North America. It is a trading name for B2B Fintech Solutions, registered in Barcelona, Spain. “Embedded finance is no longer the exclusive privilege of large technology firms,” observes Nawaz. The start-up says it has secured long-term customer contracts worth over $4 million with clients including Wagestream, PayFlow, OkTicket, and Declarando. It has also partnered with Mastercard. “Through a single API, any business in any industry can add managed financial services, from bank accounts to payments, virtual and physical cards as well as real-time FX rates and digital wallets, to their product offering,” the company says. “Instead of lengthy onboarding processes, which can take anywhere up to a year, Hubuc’s managed service cuts this time to just weeks thanks to its in-house compliance, ledger and processing platform. This compliance platform sits as a layer between the financial partners Hubuc works with, and the company’s product. “In this way, the contracts, knowledge, regulatory requirements, integrations and risk are all managed by Hubuc, allowing its customers immediate access to a full-suite of money-laundering, payment processing, card manufacturing, exchange rates and digital wallet services at the touch of a button. “Just as with AWS, where customers don’t need to worry about buying computing infrastructure like servers, data centres, maintenance, security, and so on, Hubuc removes the need to worry about finding banking partners, compliance, regulatory license, card manufacturers, and identity verification. “Hubuc also allows for the same scalability as AWS, and it does away with the high set-up costs in the same way.”
The raised funds will be invested into product development, expanding its compliance team, and boosting its European presence. Summa Equity Fund III has acquired a majority stake in Intix, a Belgium-based firm that offers a transaction and compliance insight platform engine for the financial sector. Founded in 2011, Intix counts Nordea, Société Générale, Standard Bank, and KBC Bank among its customers. The vendor says its “off-the-shelf” solutions replace manual work that costs financial institutions billions of euros each year and can radically speed up time to insight and action by tracking transactions, identifying irregularities, and issuing real-time alerts. “In Summa Equity, we found the ideal partner to support our exponential growth ambitions,” comments Marc Braet, CEO of Intix. “From the very first contact, we felt that Summa Equity shares the cultural and social values of the Intix family.”
Pluto, a corporate spend management start-up in Dubai, UAE, has raised $6 million in its seed round. The round was led by GFC, with participation from Adapt VC, Soma Capital, Graph Ventures, and OldSlip Group. Several angel investors also contributed to the round. Pluto was founded by Mohammed Ridwan (ex-Shopify and Square Cash App), Nayeem Zen (ex-Shopify, Square CashApp, and Uber), and Mo Aziz (Y Combinator graduate). The start-up has a waitlist on its website and plans to launch in the UAE later this year, followed by Saudi Arabia. The money will also be used to grow the teams in the UAE and North America. Upswing Financial Technologies, an open finance B2B ecosystem enabler, has raised $4 million from QED Investors and a group of fintech founders. These are Kunal Shah of Cred; Jiten Gupta of Jupiter; Rajan Bajaj of Slice; Lalit Keshre of Groww; Anurag Sinha of One Card; Shivashish Chatterjee of DMI Finance; Kunal Bahl of Snapdeal; and Sumit Gwalani and Sujith Narayanan of Epifi. The round also saw participation from funds like Better Capital, Amara VC, Multiply Ventures, Capier Investments, and Utsav Somani from AngelList. Upswing was founded in 2021 by ex-bankers Anupam Bagchi and Nihar Gupta, and is based in Mumbai, India. The funding will be used to build plug-and-play platforms for open finance, helping fintechs and consumer tech players launch financial services seamlessly and in a matter of weeks, the start-up says. It is currently working with a number of banks on its stack, it adds, and will go live in a phased manner later this year. Banking app for kids WALO raises $1.1m
Montreal-based WALO, a start-up that focuses on banking services and financial literacy for kids, has raised $1.1 million from the government of Quebec, Desjardins, Granicus Group, and WatchMojo, plus several angel investors. WALO says it will use the money to get its bank account and prepaid Mastercard card offering to the market, “helping parents teach their kids about managing their first bank account”. The launch is expected later this year and the waitlist is currently open. The project was conceived during the Cooperathon, Desjardins’ innovation competition, in late 2018. WALO then moved into the bank’s accelerator for young businesses, Start-up in Residence. Desjardins is the largest cooperative financial group in North America and the fifth largest in the world, with assets of $397 billion. “We’ve worked together right from the beginning because the missions and the values of our organisations match up well,” comments Martin Brunelle, VP, growth, acquisitions and development office, Desjardins. “Managing personal finances is a real source of stress in our society. We need to give parents and families the tools they need to improve their financial literacy. We definitely see WALO as part of that solution.”

ICYMI fintech funding round-up: Anfin, Hubuc, Intix, Pluto, Upswing, & WALO

Dit artikel delen:
Het Scandinavische investeringsfonds Summa Equity heeft een meerderheidsbelang genomen in het Mechelse fintechbedrijf Intix. Intix maakt software waarmee banken transacties kunnen monitoren en fraude detecteren. Een overnamebedrag is niet bekendgemaakt. Met de software van het in 2011 opgerichte Intix kunnen banken financiële berichtensystemen efficiënter doorzoeken en gemakkelijker data over transacties analyseren. Zelf noemen ze hun software ‘de Google voor banken’. Ze maken het mogelijk om transacties te volgen, afwijkingen te detecteren en realtime-alarmsignalen uit te sturen. Dat helpt de financiële instellingen om sneller in te grijpen bij een vermoeden van fraude of corruptie. De voorbije jaren kregen almaar meer banken interesse de technologie van Intix, onder meer KBC, Argenta, Société Générale, Standard Chartered en Nordea zijn klant. Vroeger gebruikten banken de technologie van Intix vooral om operationeel efficiënter te zijn, nu ook om de complexe wereldwijde regelgeving te volgen. Met de komst van Summa kan Intix in een jaar doen wat ze voor de komende vijf jaar gepland hadden. De Mechelaars willen een wereldspeler worden in hun domein. De komende maanden opent Intix ook kantoren in de VS, Londen, Frankfurt en Singapore. De oprichters van Intix blijven aandeelhouder en behouden hun huidige functies. Summa Equity werd in 2016 opgericht in Stockholm en richt zich op zogeheten ESG-investeringen (milieu, sociaal en bestuur). De transactie is het eerste van het Summa Equity III-fonds. x
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Mechelse Intix overgenomen door Summa Equity

CBZ Bank provides various financial services such as banking, short and long term insurance, asset management, securities trading, and property investments. The company is based in Harare, Zimbabwe.

CBZ Bank

CBZ Bank Limited , the largest financial services provider in Zimbabwe , and Intix announced that CBZ Bank Limited chose the Intix solution for archive management and statistics analysis of all its financial messaging flows .

CBZ Bank Limited chooses Intix

MAROCLEAR is the central depository for securities in Morocco. MAROCLEAR is the manager of the settlement/delivery system which enables all transactions carried out on securities admitted to the operations of the central depository to be settled. It is based in Casablanca, Morocco.

MAROCLEAR

BankservAfrica is an automated clearing house building and operating South Africa's core interbank payments infrastructure. BankservAfrica is regulated by the Payments Association of South Africa (PASA) and South African Reserve Bank (SARB).

BankservAfrica

Bottomline (NASDAQ: EPAY) provides cloud-based payment, invoice, and digital banking solutions to corporations, financial institutions, and banks around the world. The company's solutions are used to streamline, automate, and manage processes involving payments, invoicing, global cash management, supply chain finance, and transactional documents. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. The company was founded in 1989 and is based in Portsmouth, NH.

Bottomline

EastNets

SWIFT

TNT Express

TRAX

e.com

TriSoft

Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.

Regtech

Companies in the capital markets tech space are providing software and/or services for investment banks, hedge funds, investment managers, and so forth. Companies included use technology across the front, middle, and back-offices and streamline all pre- and post-trade operations.

Capital Markets Tech

Track and capture company information and workflow.

Fintech

Acq - Fin

Intix helps financial institutions (FIs) and corporate treasuries address financial data management challenges in four strategic areas: regulatory compliance, business intelligence, customer services and risk management. Given the size and complexity of their IT infrastructure, FIs and corporates often deal with dozens of IT systems. Intix helps its clients retrieve, consolidate and reconcile any type of financial messaging data and protects them from any IT complexity and obsolescence issues. Intix will retrieve data wherever it is stored and whichever format is used.

Date	Round	Amount	Investors	Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.	Revenue	Sources
3/1/2022	Acq - Fin		Summa Equity		0 FY undefined	1
2/12/2016	Angel	$99M	Subscribe to see more		0 FY undefined	10

Date	3/1/2022	2/12/2016
Round	Acq - Fin	Angel
Amount		$99M
Investors	Summa Equity	Subscribe to see more
Valuation
Revenue	0 FY undefined	0 FY undefined
Sources	1	10

First funding	Last Funding	Investor	Rounds	Board Seats	Type	Location
3/1/2022	3/1/2022	Summa Equity	1 Acq - Fin		Private Equity	Sweden
00/00/0000	00/00/0000	Michel Akkermans	Subscribe to see more		Angel Investor (Individual)

First funding	3/1/2022	00/00/0000
Last Funding	3/1/2022	00/00/0000
Investor	Summa Equity	Michel Akkermans
Rounds	1 Acq - Fin	Subscribe to see more
Board Seats
Type	Private Equity	Angel Investor (Individual)
Location	Sweden

Wells Fargo Success Story

3M Success Story

Platform Overview

Intix

Total Raised

Investors Count

Intix Funding, Intix Valuation & Intix Revenue

Intix Investors

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