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Pivot's $40M Raise, Fed Payment Access & Monzo's European Bet
Audio is available on Spreaker — see link below.
A White House executive order puts fintech firms one step closer to Fed payment accounts, while Futu's 31% crash exposes the true cost of dual-jurisdiction regulatory risk. Plus: SoFi acquires Peach Finance, Treasury Prime decouples deposits from branches, and Monzo posts record profit ahead of a European push.
Audio is available on Spreaker — see link below.
Pivot just raised forty million dollars in an oversubscribed Series B, and the investor thesis behind it tells you more about where enterprise software is heading than the funding round itself. The company now has seventy million in total capital to scale its agentic AI procurement platform across more than twenty-five countries.
The White House issued an executive order on May twenty-second directing federal financial regulators to review their rules within ninety days and actively encourage innovation. The Fed has been specifically tasked with reviewing whether fintech firms should get direct access to Reserve payment accounts.
While that regulatory environment looks friendlier in the US, the Futu Holdings situation is a sharp reminder of what dual-jurisdiction exposure actually costs. Futu crashed thirty-one percent to eighty-five dollars and fifty cents after Chinese regulators imposed a one point eight five billion penalty for unlicensed mainland securities activity.
SoFi has acquired Peach Finance, a loan servicing SaaS platform founded in twenty-eighteen that raised twenty-seven point five million before the deal. The acquisition adds a loan servicing layer to SoFi's existing Galileo and Technisys infrastructure stack.
Two developments in Europe pull in opposite directions, and the tension between them is worth holding. UK services activity showed one of its sharpest contractions in thirteen years outside the pandemic.
One story that deserves more attention than it's getting: Treasury Prime launched Prime Cash, giving fintechs access to cash deposits at more than ninety thousand retail locations including Walmart, CVS, Walgreens, and Seven-Eleven. No branch visits required.
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