Vestwell Raises $385M Series E, Doubles Valuation to $2B
Vestwell has secured $385 million in Series E funding, doubling its valuation to $2 billion and reinforcing investor conviction in fintech infrastructure plays. The retirement and savings platform continues to position itself as core back-end rails for employers, advisors, and financial institutions. The scale of the raise signals renewed late-stage capital appetite for companies with durable revenue models and institutional distribution. It also reflects growing demand for digital retirement and wealth infrastructure as regulatory complexity and workplace savings mandates increase. For the broader fintech ecosystem, the round highlights a shift toward sustainable, enterprise-grade platforms rather than consumer-only growth stories. In a tighter funding environment, this is a strong signal that scalable fintech infrastructure remains highly investable.
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Insight of the Day
Agentic Commerce Creating New Payment Models
In the travel space, it has been proven that the merchant of record MoR does not necessarily have to be the end merchant, as the online travel agent OTA has historically been able to play this role. Therefore, the entry of a new intermediary such as AI agents, begs the question: can the MoR role be taken over by these new players? In theory, the answer is yes.
Taking over the merchant of record MoR role has significant legal, compliance and operational implications for AI companies, as they would shift from being a pure technology provider (i.e., transferring information only) to a payment intermediary (i.e., moving funds in a two-step payment flow) – see “AI Agent as MOR” diagram below.
The overhead of being the MoR could be transferred to a partner (i.e., “MoR service providers”), that assumes the responsibility for the entire payment process. The AI agents would send the payment information to this partner to conduct the payment authentication and authorisation, as well as to collect the funds and then send the payout to the end travel supplier. – see “AI Agent via MOR service provider” diagram below.
Putting ourselves back in the OTA mindset, if the AI agent becomes the MoR, the risks for the OTA mirror those of the pass-through model: it could end up acting as an inventory aggregator or being by-passed entirely, with the AI agent potentially sourcing the same content from other providers. Conversely, if the AI agent has no interest in becoming the MoR, the OTA could partner with the AI agent and assume the role of MoR service provider itself, effectively operating under the reseller model as described at the start of this article.
Curated News
💳 Payments
Visa to Acquire Prisma and Newpay to Expand in Argentina
Visa has agreed to acquire Prisma and Newpay to deepen its footprint in Argentina. The deal strengthens its acquiring and processing capabilities in a strategically important Latin American market.
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eBay Invests in Pay-by-Bank Network TrueLayer
eBay has invested in TrueLayer to accelerate adoption of account-to-account payments across Europe. The move supports lower-cost alternatives to traditional card rails.
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Wirex Launches Stablecoin Push-to-Card via Visa Direct
Wirex has introduced a stablecoin push-to-card capability powered by Visa Direct, enabling transfers to more than three billion cards globally. The rollout expands real-world usability of stablecoins.
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Mastercard Cardholders Gain Google Pay Access in Saudi Arabia
Mastercard cardholders in Saudi Arabia can now use Google Pay, accelerating wallet adoption in the region. The integration strengthens mobile-first payment ecosystems in the Gulf.
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Klarna Posts Q4 Results with Profitability Focus
Klarna reported Q4 results highlighting continued revenue growth alongside cost discipline. The update reflects BNPL’s transition toward sustainable margins and operational efficiency.
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🏦 Banking
Creditstar Secures FCA Licence for UK Lending Expansion
Creditstar has obtained FCA approval to scale its UK consumer lending operations. The licence strengthens its regulatory positioning in a tightly supervised market.
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Metro CU Launches Automated Small-Dollar Lending
Metro Credit Union has partnered with Salus to introduce automated small-dollar loans. The initiative expands access to affordable credit while reducing underwriting friction.
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Neobank Rizon Raises $2M to Scale Dollar Banking
Rizon has secured $2 million in pre-seed funding to expand global access to US dollar banking services. The raise reflects rising cross-border demand for dollar-denominated accounts.
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LSEG and Standard Chartered Announce Multi-Year Collaboration
LSEG and Standard Chartered have entered a strategic partnership to enhance data and trading capabilities. The agreement strengthens infrastructure across global capital markets.
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🧩 Fintech
Data Breach at Figure Impacts Nearly One Million Users
Figure disclosed a data breach affecting close to one million customers. The incident highlights ongoing cybersecurity risk exposure within digital lending platforms.
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OpenAI Expands India Strategy Through Pine Labs Partnership
OpenAI has partnered with Pine Labs to deepen AI deployment across India’s fintech ecosystem. The collaboration signals increasing AI integration into payments and financial services.
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Stacks Raises $23M to Reinvent Finance Ops with Agentic AI
Stacks secured $23 million to build an AI-powered operating system for finance teams. The platform targets automation across corporate accounting and treasury workflows.
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Synechron and Cognition Bring Autonomous AI Engineering to FIs
Synechron and Cognition have partnered to deliver autonomous AI engineering capabilities to financial institutions. The initiative focuses on accelerating development and operational efficiency.
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Australian AI Fintech Lorikeet Expands to London
Lorikeet has opened a London office to expand its AI-driven fintech solutions in Europe. The move signals international scaling ambitions.
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Global Payments Announces Board Appointment
Global Payments has announced a new board appointment, potentially shaping governance and strategic priorities amid industry transformation.
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🪙 Crypto
Anchorage Digital Launches Stablecoin Solutions for Banks
Anchorage Digital has introduced stablecoin infrastructure aimed at modernising cross-border USD settlement. The offering bridges regulated custody with blockchain-based rails.
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Blockfills Up for Sale After $75M Lending Loss
Blockfills is reportedly exploring a sale following a $75 million lending-related loss. The situation underscores ongoing credit and liquidity risk in crypto markets.
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Ethereum Faces Downside Risk Toward $1,500
Analysts warn Ethereum could test the $1,500 level amid sustained market weakness. The outlook reflects continued volatility across major digital assets.
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Sharplink Expands Ethereum Treasury Holdings
Sharplink reported growing ETH reserves, signalling institutional interest in Ethereum treasury strategies. The move reflects broader corporate experimentation with crypto balance sheets.
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⚖️ Regulation
Bank of Ireland UK Fined £3.7M for Fraud Control Delay
Bank of Ireland UK has been fined £3.7 million for implementing an anti-fraud tool 14 months late. The penalty reinforces regulatory expectations around timely fraud mitigation controls.
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