London Alumni News: April 2019

04.30.2019 - London

Cytora Raises £25m In Series B: Cytora has raised £25 million in a Series B round lead by EQT Ventures. The funding will be used to accelerate the expansion of its product suite and for scaling into new geographies.

Memgraph Named As One To Watch By Tech Pioneer Ivo Spiegel: Spiegel quotes “They built a completely new, from scratch, graph database platform with multiple applications. For example, for retail, it can provide real-time fraud detection, cyber security, and personalized recommendations… here are a few external companies working on this, but Memgraph are faster than most.”

Nivaura And Untied To Take Part In The Fca’s Sandbox 5: Nivaura will take part in the UK Financial Conduct Authority’s next sandbox cohort to test integration of distributed ledger technology within the UK platform’s operated listing and trading venues alongside London Stock Exchange Group. Last month London-based 20|30 said it has become the first UK company to successfully complete the tokenisation and issuance of their equity in partnership with Nivaura and the FCA’s sandbox 4.

Untied will use the opportunity to test their product to ensure the appropriate safeguards for users are in place. Untied is a platform that uses bank data to automate the preparation and submission of tax returns.

PixelPin Raises £1.5m: Softbank AI has led a pre-series A funding round into PixelPin through its artificial intelligence (AI) and blockchain fund.

Investment Navigator Partners With Refinitiv To Automate Fund Eligibility For Wealth Managers: The Fund Eligibility solution is based on the proprietary proposition of Investment Navigator to provide automated assessments on the individual share class level for mutual funds and exchange-traded funds through the entanglement of context, rules and data. The easy-to-understand eligibility outcome mitigates the risks of mis-selling.

Openwrks Joins Forces With Nationwide: Nationwide selected seven FinTech companies to take part in its Open Banking for Good challenge, supported by a £3m fund from Nationwide. The challenge is driven by social purpose and addressing the needs of the financially squeezed.

Exate, Canopy & Algo Dynamix Listed On The Wealthtech 100: The world’s most innovative WealthTech companies that every leader in the wealth and asset management industries needs to know about.