Nirvana Tech Secures $100M, Visa Predicts AI Commerce Boom, and Surf Launches Model 2.0

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Prudential has teamed up with Cyberport to drive AI innovation, aiming to enhance technological advancements in the financial sector. Meanwhile, Sporta has successfully raised £123k to develop an AI Sports Bank, which is set to revolutionize how sports-related financial transactions are managed.

In regulatory news, New Hampshire is proposing new AI regulations in health insurance, reflecting a growing trend of integrating AI into healthcare finance. Additionally, OnCorps AI has secured $55 million in funding to expand its AI platform, highlighting the increasing investment in AI-driven financial solutions.

AI Enhances Rural Credit Access in Africa

A report by the European Centre for Development Policy Management discusses how AI is improving access to rural credit for smallholder farmers in Africa by enhancing risk assessment and credit scoring. Read more

Prudential and Cyberport Collaborate on AI Innovation

Prudential Hong Kong Limited has partnered with Hong Kong Cyberport Management Company Limited to boost AI innovation in the insurance sector, aiming to enhance AI talent and use cases in Hong Kong. Read more

Sporta Raises £123k for AI Sports Bank

Sporta, an AI-native bank targeting the sports and leisure sectors, has secured £122,923 through Crowdcube. The funds will support community engagement and the development of its banking services. Read more

New Hampshire Proposes AI and Telemedicine Bills

New Hampshire has introduced two bills aimed at regulating the use of artificial intelligence in health insurance and promoting telemedicine. The proposed legislation seeks to prevent insurers from using AI to override doctors' decisions and ensure equal reimbursement for telemedicine services. Read more

Donnerstag.ai Secures €4.3 Million in Seed Funding

Donnerstag.ai, a German startup, has raised €4.3 million in Seed funding to advance its AI-driven accounts receivable management platform. The round was led by Speedinvest with participation from other investors. Read more

Flex Raises $60 Million in Series B Funding

Flex, an AI-native bank, has secured $60 million in a Series B funding round led by Portage. The funding will support the launch of Flex Elite, an invite-only consumer card. Read more

Safebooks Inc. Raises $15M for Revenue Data Automation

Safebooks Inc., a San Francisco-based company, has secured $15 million in seed funding to launch its Agentic Revenue Integrity solution, which automates revenue data integrity for finance teams. Read more

OnCorps AI Raises $55 Million for AI Platform Enhancement

OnCorps AI has secured $55 million in funding from Long Ridge Equity Partners to enhance its AI operations for asset managers. The investment will aid in product innovation and scaling infrastructure to support its expanding clientele. Read more

Surf Raises $15M for AI Model Surf 2.0

Surf has secured $15 million in funding led by Pantera Capital to develop Surf 2.0, an AI model for digital asset analysis. The funding round also included Coinbase Ventures and Digital Currency Group (DCG). Read more

IRIS Software Launches AI Tax Tool for UK Accountants

IRIS Software has introduced an AI-powered tool to detect tax anomalies, aiming to reduce errors and preparation time in UK personal tax filings. Read more

BNP Paribas Launches AI Tool for Investment Banking

BNP Paribas has introduced an AI tool named 'IB Portal' to improve investment banking efficiency by streamlining client pitch preparations. The tool searches past materials to provide relevant content, aiming to reduce redundancy and save time. Read more

Slope Partners with Amazon for AI Lending Solutions

Slope, an AI lending platform, has partnered with Amazon to offer a line of credit to sellers, with backing from JPMorgan Chase. Read more

Synergetics.ai Receives Investment for SGTX Token Launch

Synergetics.ai has obtained a strategic investment from Taisu Ventures to aid in the launch of its SGTX token, focusing on advancing its blockchain technology. Read more

GoDutch Raises €3.6M for AI Finance Platform

Amsterdam-based fintech company GoDutch has secured €3.6 million in seed funding to enhance its finance platform for SMEs, aiming to reduce administrative tasks by 70%. Read more

Wodan AI Raises €2M for Encrypted AI Tech

The Spanish-Belgian startup Wodan AI has secured €2 million in funding to advance its AI technology that processes encrypted data, aiding compliance with privacy regulations. Read more

Klarna Introduces AI-Friendly Product Protocol

Klarna has launched the Agentic Product Protocol, an open standard designed to make over 100 million products accessible to AI. This initiative aims to streamline AI's ability to discover and understand product data across multiple markets. Read more

PayPal Uses PYUSD for AI Infrastructure Funding

PayPal is leveraging its PYUSD stablecoin to finance AI infrastructure via the USD.AI protocol. This initiative includes a $1 billion customer incentive program offering a 4.5% yield on deposits. Read more

Nirvana Tech Secures $100 Million in Series D Funding

Nirvana Tech, an AI-native trucking insurance startup, has raised $100 million in a Series D funding round led by Valor Equity Partners. The funds will aid in expanding into new industry segments. Read more

Visa Predicts AI-Enabled Commerce Growth by 2026

Visa anticipates that millions of consumers will engage in AI-enabled commerce by 2026, as it prepares to launch AI agents for secure consumer purchases. The initiative is part of the Visa Intelligence Commerce program. Read more

Ebix Expands RCS Business with AI Enhancements

Ebix has announced an expansion of its Risk Compliance Solutions business, introducing new leadership and AI-driven updates to its platform. The enhancements include advanced document extraction and interactive dashboards. Read more

FundPark Provides $6 Billion in AI Support for SMEs

FundPark, an AI fintech company, has deployed over US$6 billion to aid small and medium enterprises in cross-border e-commerce. The platform utilizes AI to expedite funding decisions by analyzing real-time sales and inventory data. Read more

Equals Money and Okta Collaborate on AI Payment Security

Equals Money has partnered with Okta to enhance security measures in AI-driven payment systems. The collaboration aims to improve visibility and governance, addressing threats from AI-enabled malicious actors in financial services. Read more

Olea Secures $30 Million for Global Expansion

Singapore-based trade finance platform Olea has raised $30 million in Series A funding to enhance its AI-driven technology and expand its global presence. Read more

Informed.IQ Receives $63 Million Investment for AI Solutions

Informed.IQ has secured a $63 million investment from Invictus Growth Partners to enhance its AI-driven fraud prevention and loan verification technologies. The funding will support expansion into new sectors and address challenges in fraud detection. Read more

Barclays Joins United Fintech to Boost AI in Finance

Global investment bank Barclays has joined the board of United Fintech, marking its entry as the fifth major financial institution to invest in the platform. This strategic move is aimed at enhancing digital transformation and AI deployment in financial services. Read more

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Nirvana Tech Secures $100M, Visa Predicts AI Commerce Boom, and Surf Launches Model 2.0 - Finance AI Weekly #46

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