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Industry roundup: 13 July

Accrualify launches corporate card programme with Visa

Accrualify, a spend management and AP automation company, has announced a partnership with Visa to deliver its Corporate Card Module. The partnership was made possible through Accrualify's participation in Visa's Fintech Fast Track Program.

The company says that some of the benefits Accrualify's co-branded Visa card programme provides to finance organisations include:

  • Controls for spending limits, category restrictions, merchant restrictions, and use frequency.
  • Real-time spend tracking.
  • Employee spend management with pre-approval of expenditures not found in traditional employee expensing.
  • Enhanced fraud controls.
  • Virtual and physical card issuance from one platform.

Visa's payment infrastructure will help provide new and existing Accrualify customers with a scalable corporate card product that allows them to issue virtual cards and plastic corporate cards.

Visa's Fintech Fast Track Program is designed to provide startups like Accrualify with the ability to access card giant's growing partner network, and experts who can provide guidance in helping them get up and running in the most efficient way possible. 

 

Taulia secures significant strategic investments 

Taulia, a provider of working capital technology solutions, has announced a new strategic funding round of US$60m. The funding round was led by the Ping An Global Voyager Fund, with additional participation from J.P. Morgan, Prosperity7 Ventures and existing investors including Zouk Capital. The funding will help accelerate growth as the company sets its sights on further global expansion.

This latest round of funding comes as Taulia announced reaching profitability in 2019 and a strategic alliance with J.P. Morgan earlier this year. Using technology-enabled solutions and innovations including machine learning, the company processes over US$500bn in spend annually across its network.

 

ING appoints former Google Compare CEO as CEO of fintech Yolt

Nicolas Weng Kan, the former CEO of Google Compare and Confused.com, has been announced as the CEO of ING-backed fintech Yolt.

In this role, Kan will be responsible for managing both Yolt, the B2C smart money app with 1.5 million registered users, and Yolt Technology Services (YTS), a B2B open banking provider making over 22 million API calls a week.

He brings extensive experience within the financial services and technology sectors, having spent the past six years in senior roles such as the CEO of Google Compare, CEO of Confused.com and the head of Operations for UK insurer Admiral. 

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