Executive Summary
This week’s headlines spotlight a fintech sector firing on all cylinders. AI continues to deliver measurable returns—Klarna’s revenue per employee nears $1M, and companies like Uber Freight and Google are doubling down on AI-first experiences. In payments, Visa and CIMB are scaling infrastructure, while Curve and UK regulators challenge incumbents in mobile and BNPL. Wealthtech expands with eToro’s new insurance push, and the crypto world moves closer to traditional finance as JPMorgan opens access to Bitcoin and Kraken tokenizes U.S. equities for 24/7 trading. However, a massive password breach and a Salesforce leak at Coca-Cola underline the urgent need for stronger cybersecurity defenses.
📩 Stay ahead of these fintech trends! Read our full report for expert insights and deeper analysis on the latest industry developments.
Trends in Fintech Verticals
Top Data Breaches
Coca-Cola Europacific Partners Allegedly Suffers Major Salesforce Data Breach: Coca-Cola Europacific Partners (CCEP), one of the world’s largest independent Coca-Cola bottlers, has allegedly experienced a significant data breach impacting its Salesforce dashboard. The breach, which reportedly occurred in early May, is said to have resulted in the exfiltration of a substantial volume of data, including accounts, contacts, products, and cases.
The alleged attackers claim responsibility for recent data breaches affecting other major corporations. The compromised data, spanning from 2016 to 2025, reportedly includes:
Salesforce Products: 300 MB (400,000+ records)
Salesforce Accounts: 6 GB (7.5 million records)
Salesforce Cases: 52 GB (9.5 million records)
Salesforce Contacts: 5 GB (6 million+ records)
Massive data breach exposes 184 million passwords for Google, Microsoft, Facebook, and more: Cybersecurity researcher Jeremiah Fowler revealed his discovery of a massive online database containing more than 184 million unique account credentials, in a report published Thursday. Usernames, passwords, emails, and URLs for a host of applications and websites, including Google, Microsoft, Apple, Facebook, Instagram, and Snapchat, among others, were stored in a file. The database also contained credentials for bank and financial accounts, health platforms, and government portals.
Latest Funding News
VC firm Creator Ventures secures $45m for AI startups: -Creator Ventures, an early stage venture firm investing in companies empowering the next generation of the consumer internet, today announced it has raised a $45 million Fund II, more than doubling the size of its prior fund and bringing the firm’s total assets under management to $65 million. Co-founded by cousins Sasha Kaletsky and Caspar Lee, Creator Ventures’ deep consumer internet sector focus and operating expertise stems from Kaletsky’s early successes in consumer technology investing as the co-founder of the investment club that preceded Creator Ventures and in private equity at Bridgepoint and at Uber, and Lee’s background as a creator with a combined social following of over 12 million and as the cofounder of influencer.com and WME-backed talent management firm, MVE. With Fund II, the firm plans to lead and co-lead pre-seed and seed rounds with checks ranging from $200,000 to $2.5 million, scaling its support for founders building creative tools, consumer applications, marketplaces, and AI-enabled software-as-a-service (SaaS) adjacent to the consumer internet. Creator Ventures’ new fund is backed by institutional LPs including Level Ventures, Cendana Capital, Vintage Investment Partners, Sequoia Capital, Marktlink Capital, Spring Creek, Isomer Capital, and Nexus Bay.
Gravitee, a platform that helps companies manage APIs, raises $60M: Gravitee, an API management platform, has raised $60 million in a Series C round led by Sixth Street Growth, pushing its total funding to over $125 million. CEO Rory Blundell says the funds will support product development and international expansion as companies increasingly integrate AI agents, streaming data, and hybrid systems. Gravitee, which began as an open source project in 2015, offers a flexible deployment model and supports both synchronous and asynchronous APIs—something Blundell says sets it apart from rivals like Blobr and StepZen. The company reported $22 million in ARR for 2024 and plans to grow its team from 130 to 200 by year-end.
Airwallex Secures US$300m Series F Funding Round at US$6.2bn: Airwallex, a global financial platform for modern businesses, has raised $300m in a Series F funding round, taking its total funding to over $1.2bn and placing the company’s valuation at $6.2bn.
The latest round features a mix of primary and secondary investment, with $150m in secondary share transfers. Investors include Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and Visa Ventures, as well as several leading Australian pension funds.
Banking and Payments
CIMB Bank Taps ACI Worldwide to Advance Payment Transformation: ACI Worldwide, an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, has chosen ACI’s payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group’s regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank
will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk.
Curve Wallet to compete with Apple Pay on iOS devices: Curve, the London-based digital wallet provider, has launched its iOS-compatible wallet, becoming one of the first companies to challenge Apple Pay on iPhones. This move follows Apple’s compliance with a European Commission ruling requiring it to open up its iPhone NFC interface to third-party providers, breaking its longstanding monopoly on tap-to-pay functionality.
Previously, iPhone users had no alternative to Apple Pay, limiting banks and digital wallets from offering competing experiences. Curve’s new iOS wallet aims to disrupt this by offering significantly more functionality than Apple Pay, bringing all of a user’s cards into one smart wallet. Features include real-time spending insights, the ability to change the payment source even after a transaction is made, split payments, and rewards stacking — all from one unified interface.
UK clamps down on ‘wild west’ of buy now, pay later sector with new rules: The government has announced new rules aiming to protect shoppers using buy now, pay later services, saying it wants to end the “wild west” of unregulated borrowing.
Under the legislation, lenders will have to carry out affordability checks to stop people taking on too much debt and shoppers will have faster access to refunds.
The use of buy now, pay later (BNPL) has surged recently, with 11 million people in the UK estimated to have used it in the last year, but there have been fears some are spending more than they can afford.
Consumer groups welcomed the move and said many users did not realise they were taking on debt they might struggle to repay.
Visa Direct taps Banking Circle’s API to streamline global payments: Banking Circle. has announced a strategic partnership with Visa to enhance the efficiency and reach of cross-border payments.
This collaboration enables Visa Direct, the global digital payments platform, to access Banking Circle’s local clearing rails worldwide.
Visa Direct is one of the world’s leading digital payment networks, facilitating seamless connections between cards, currencies, and markets. Through this agreement, Visa Direct will utilise Banking Circle’s single API to access multiple local clearing rails via a single integration.
Banking Circle CEO Laust Bertelsen said, “Our partnership with Visa Direct represents an important milestone in our firm’s mission to increase speed, efficiency and reduce costs associated with cross-border transactions.
Wealthtech
Etops acquires financial planning software provider Finanzportal24: Swiss wealthtech Etops has acquired Finanzportal24, a financial planning software provider based in Germany, for an undisclosed sum.
Founded by former insurance broker Hubertus Schmidt in 2002, Finanzportal24 offers software designed specifically for financial advisors and brokers.
The software supports multiple modules for financial and biometric risk analysis, liquidity management and retirement planning, with the company currently serving around 4,500 clients.
eToro Teams up with Generali to Offer Retirement Products and Insurance in France: eToro’s French subsidiary, eToro Patrimoine, has teamed up with French insurance giant Generali to offer PERs (the French version of an IRA) and insurance directly to its users. We see this as yet another sign that day-traders are “growing-up” and saving for retirement. As Millennials and and even some Gen Z enter the accumulation phase of their lives, we expect to continue to see the self directed trading platforms offer more accommodations for long-term investors. This includes even human advice/advisor lead gen as in the case of Robinhood’s acquisition of TradePMR (see our WealthTech Themes of the Decade piece for more information about our Rise of Self-Directed Trading as Lead Gen theme). Investors in the PER product can choose from ready-made portfolios or create their own, so you might say there is some small element of robo-advice in there as well.
Artificial intelligence
Anthropic CEO claims AI models hallucinate less than humans: Anthropic CEO Dario Amodei said that current AI models may generate false information, or “hallucinate,” less frequently than humans.
He made this remark during a press briefing at Anthropic’s first developer event, Code with Claude, held in San Francisco on May 22.
Amodei explained that while AI hallucinations occur, they do not pose a significant barrier to achieving artificial general intelligence (AGI).
“I suspect that AI models probably hallucinate less than humans. However, they hallucinate in more surprising ways,” he said.
Klarna’s revenue per employee soars to nearly $1M thanks to AI efficiency push: Klarna announced Monday its reliance on AI is driving significant efficiency for the company, and it’s on track to reach $1 million in revenue per employee, up from $575,000 per worker a year prior, according to the company’s latest financials. While the company claims most functions became more efficient thanks to its AI efforts, the largest financial impact was the significant reduction in customer service costs.
Uber Freight bets big on AI tools to grow its business: Uber Freight has launched the industry’s first large-scale AI-powered logistics network, embedding a proprietary large language model (LLM) directly into its transportation management system (TMS) and logistics platform.
The development positions Uber Freight to transform industry operations. It intends to automate execution, improve decision-making, and increase supply chain responsiveness for shippers of all sizes.
Google rolls out new shopping experience in AI Mode: Google has rolled out its new shopping experience in AI Mode, providing visuals, smart guidance, and reliable product data, as well as a virtual dressing room feature and a new agentic checkout experience.
Through its new AI Mode shopping experience, Google aims to merge Gemini capabilities with its Shopping Graph to support users in browsing for inspiration, thinking through considerations, and narrowing down products. The Shopping Graph currently has over 50 billion product listings, from both global retailers and smaller shops, each including details such as reviews, prices, colour options, and availability. Additionally, to facilitate accurate information, Google refreshes the product listings every hour. The panel also dynamically updates with relevant products and images, enabling users to pinpoint what they are looking for and discover new brands.
Blockchain and Cryptocurrency
Kraken launches tokens to offer 24/7 trading of U.S. equities: rypto exchange Kraken said on Thursday it is launching tokens of U.S. equities that will trade around the clock, giving non-U.S. investors exposure to high-profile companies such as Apple, Tesla and Nvidia.
Tokenization refers to the process of issuing digital representations of publicly-traded securities. Instead of holding the securities directly, investors hold tokens that represent ownership of the securities.
JPMorgan CEO Jamie Dimon says the bank will let clients buy bitcoin: Having once said he would shut the crypto industry down, Jamie Dimon has confirmed that JPMorgan Chase will now let its clients buy bitcoin.
The JPMorgan chief has been a vocal critic of bitcoin and crypto in general. In 2023 he told a Senate Banking Committee: “I’ve always been deeply opposed to crypto, bitcoin, etc. The only true use case for it is criminals, drug traffickers…money laundering, tax avoidance.”
This week, he made it clear that his views have not changed, telling the investor day: “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin.”
JPMorgan’s change of policy comes amid an evolving regulatory environment under the Trump administration. In March, the Federal Deposit Insurance Corporation said that US banks no longer need to receive prior approval before engaging in crypto-related activities.
Binance integrates with Brazil’s Pix payments system: Binance Pay has integrated with Brazil’s Pix system to enable people to use crypto to make instant payments in reais.
Binance users in Brazil can now make instant transfers and payments directly from their accounts on the Binance exchange to any bank account or pay merchants accepting Pix. The value of the digital asset is instantly converted to Brazilian reais with transactions completed in seconds.
Supporting over 100 cryptocurrencies, Binance says the integration brings crypto into everyday life for the tens of millions of Brazilians that use the wildly popular central bank-run Pix payments platform.
Insurance Technology (Insurtech)
Parametrix unveils $2m embedded insurance product for EDR system failures: Parametrix, a pioneer in digital business interruption insurance, has launched a new embedded coverage programme aimed at safeguarding businesses from disruptions triggered by endpoint security failures.
The introduction of this new insurance product comes in the wake of rising demand for improved risk mitigation following high-profile outages.Notably, the global CrowdStrike incident in July 2024 highlighted the vulnerabilities within Endpoint Detection and Response (EDR) platforms.
As these systems become more central to digital operations, the consequences of their failure have grown more severe, prompting calls for better contingency solutions.
Cytora and Aisix Solutions team up to power insurers with wildfire risk data: Cytora, a digital risk processing platform, has partnered with climate data specialist Aisix Solutions to enhance wildfire risk assessment for insurers.
The integration brings Aisix’s AI-driven wildfire insights into Cytora’s underwriting workflows, aiming to improve decision-making speed, accuracy, and transparency, according to InsurTech Insights.
This collaboration supports insurers navigating climate change-driven risk and regulatory demands from bodies like TCFD and ISSB. The move follows Cytora’s recent platform upgrade and partnership with global insurer Chubb.
Scottish Widows and Sprout.ai partner to fast-track life insurance claims using AI: Scottish Widows, part of Lloyds Banking Group, has partnered with insurance automation firm Sprout.ai to trial the use of artificial intelligence (AI) designed to speed up life and critical illness insurance claims and underwriting.
Using AI and natural language processing (NLP), the pilot will focus on streamlining claims by reducing processing times and simplifying complex medical documentation. It will also assist underwriters by quickly summarising extensive medical files to enable faster decision-making.
The outcomes of the collaboration between Scottish Widows and Sprout.ai are expected to benefit thousands of customers across the UK by using automation to speed up claims, and explore further enhancements to the claims process.
Regulatory Technology (Regtech)
Mastercard Launches Cyber Resilience Center in Saudi Arabia: Mastercard has launched its Cyber Resilience Center, an initiative that brings together key players from the financial sector to foster collaboration and support shared goals in building a secure commerce and payment ecosystem in the Kingdom. This is Mastercard’s first initiative in Middle East, extending the company’s global network of cyber resilience centers which includes locations in Europe and the United States.
Riyad Bank has joined as the first partner and will collaborate with Mastercard on training programs, risk evaluations, and the adoption of global cybersecurity standards.
The center marks a pivotal milestone in reinforcing the Kingdom’s cybersecurity infrastructure, enabling stronger collaboration to protect its fast-evolving digital economy.
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🎙️ Tech Behind Fintech Podcast Highlights
Coming Up This Week
Join us on Friday, May 30th, 2025, at 12 PM EST for a high-stakes episode of Tech Behind FinTech featuring Mike Gulla, CEO & Co-Founder of Adaptive Insurance—a startup rewriting the rules of climate risk coverage in the age of AI. With climate-driven power outages on the rise and traditional insurers lagging behind, a $150 billion blind spot has emerged in the small business insurance market. Mike, a veteran of Hippo, Allstate, and Esurance, breaks down how Adaptive is using AI, real-time data, and embedded fintech infrastructure to fill that gap—fast. From instant payouts without adjusters to API-driven parametric coverage, this episode explores how Adaptive is building the fintech stack for climate resilience. You’ll hear how Mike’s journey from legacy carriers to InsurTech innovation is powering a bold new vision for climate coverage—designed for speed, scale, and the small business economy.
🔍 What You’ll Learn:
• Why climate risk is the insurance industry’s next great reckoning
• How Adaptive’s GridProtect pays SMBs instantly after power outages
• Why VCs are betting big on climate-insurance-as-a-platform
• What embedded parametric coverage means for the future of fintech
• How Adaptive’s automation-first model cuts claims time to zero
Website: https://techbehindfintech.com/featured/the-150-billion-insurance-blind-spot
YouTube: https://www.youtube.com/watch?v=i6lhR54l8nY
📌 In case you missed it – Latest Episode Highlights
Show Title: The AI Gold Rush: Why GPUs Are the New Financial Frontier
Guest: Kony Kwong, CEO and Co-Founder of GAIB—the platform reshaping how we invest in AI infrastructure
🎧 Episode Summary:
In this episode, host Nnamdi Osuagwu sits down with Kony Kwong, CEO of GAIB, to explore how compute power—specifically GPUs—has become the most valuable commodity in the AI era. Conan shares how GIB is pioneering a model that tokenizes GPU infrastructure, enabling both retail and institutional investors to gain exposure to the backbone of AI innovation.
The discussion covers how GPUs power modern AI models, why they’re so expensive and scarce, and how GIB fractionalizes access by creating an investable asset class. Conan draws parallels to real estate and commodities trading, emphasizing the importance of risk controls, third-party audits, and compliance in making this new infrastructure investment model viable and secure.
💡 Key Takeaways:
Stablecoin-Powered Capital Flows
GIB accepts stablecoins and fiat through both Web2 and Web3 channels, bridging DeFi infrastructure with real-world AI compute markets.
GPUs Are the New Gold of AI
GPUs (graphic processing units) are critical to training and running large AI models. They’re expensive, scarce, and essential—making them a powerful infrastructure investment opportunity.
Tokenization Lowers the Barrier to Entry
GIB fractionalizes GPU ownership through tokenization, allowing everyday investors to access an asset class previously limited to tech giants and deep-pocketed institutions.
Returns Are Tied to Usage
Investors earn yield based on the actual usage of GPUs by AI clients—similar to renting out real estate. GIB only tokenizes GPUs that are already in use and generating cash flow.
Risk Controls Mirror Real Estate Lending
GIB uses rigorous due diligence, third-party audits, asset tracking, and loan-to-value limits to manage risk—just like a lender underwrites an investment property.
A New Commodity Market Is Emerging
GIB envisions building a transparent trading system for GPUs, complete with futures, indexes, and structured products—similar to what exists for oil, gold, or corn.
Decentralized Cloud Is the Next Frontier
As AI demands grow, traditional cloud giants (AWS, GCP, Azure) may be supplemented or displaced by regional, specialized cloud providers—a market GIB is helping to fund and connect.
🔗 Watch the full episode now: https://techbehindfintech.com/featured/the-ai-gold-rush-why-gpus-are-the-new-financial-frontier
🔗 Listen to the full episode: https://www.spreaker.com/episode/the-ai-gold-rush-why-gpus-are-the-new-financial-frontier–66271627
Or stream it on your favorite podcast platform! 🚀
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