<div>
  <ul>
    <li>
      <p>
        Shell is planning to sell portions of its nature-based carbon projects while maintaining a minority stake as the company shifts its focus toward high-return fossil fuel ventures.
      </p>
    </li>
    <li>
      <p>
        The company's carbon offset market has faced significant challenges, with REDD+ credit prices dropping from USD 12.50 in 2022 to USD 3.60 per credit in 2023.
      </p>
    </li>
    <li>
      <p>
        Shell is considering two deal structures: Selling project shares while continuing to purchase credits or selling projects without credit purchase commitments. It is currently in talks with private equity firms.
      </p>
    </li>
    <li>
      <p>
        Despite reducing its carbon offset focus, Shell reports maintaining its commitment to reduce operations emissions by 50% by 2030 compared to 2016 and may explore engineered carbon removal technologies like direct air capture.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.bloomberg.com/news/articles/2024-11-13/shell-aims-to-sell-majority-stake-in-carbon-offsets-business">
      Bloomberg
    </a>
  </p>
  <p>
    <a href="https://carboncredits.com/shells-carbon-offset-exit-what-does-it-mean-for-the-voluntary-carbon-market/">
      Carbon Credits
    </a>
  </p>
</div>


FinTech Infrastructure

INCUMBENTS_PRESENT

<div>
 <p>Shell intends to divest portions of its nature-based carbon projects but will retain a minority interest. The move comes as the company pivots towards high-profit fossil fuel projects.</p>
 <p>Shell's carbon offset market has experienced significant difficulties, as seen by the drop in REDD+ credit prices from USD 12.50 in 2022 to just USD 3.60 per credit in 2023.</p>
 <p>The company is deliberating over two deal structures: selling project shares while preserving credit purchases or selling projects without credit purchasing obligations. Private equity firms are currently engaged in discussions with Shell.</p>
 <p>In spite of pulling back from its carbon offset emphasis, Shell asserts that it will continue with its pledge to decrease operational emissions by 50% by 2030 (relative to 2016). The company might also consider adopting engineered carbon extraction technologies such as direct air capture.</p>
</div>

Shell plans sale of carbon offset business

<div>
 <p>Banking-as-a-service (BaaS) provider NovoPayment has raised USD 20 million in growth funding in a round led by Morgan Stanley Expansion Capital. Past investors include IDCV, Fuel Venture Capital, IDB, Visa, and Endeavor Catalyst.</p>
 <p>The new funding will be used to help NovoPayment continue its expansion and establish further commercial partnerships.</p>
 <p>Operating across 15 markets in Latin America, the Caribbean, and the US, NovoPayment's platform offers digital banking, payments, and card solutions. Its services range from digital wallets and instant deposit accounts to virtual cards, real-time payments, cross-border transfers, digital lending, and cash management.</p>
</div>

NovoPayment raises USD 20 million in growth funding from Morgan Stanley Expansion Capital

<div>
 <p>Italian mobile payments provider, Satispay, has amassed EUR 60 million (USD 64 million) in a funding round from investors like Addition, Greyhound, and Lightrock, taking the company's total fundraising amount to over EUR 500 million (USD 532 million).</p>
 <p>Such funding will fortify Satispay's standing in the mobile payments, welfare, and investment services markets. By launching new investment services for consumers and exploring probable acquisitions, the company is forward planning strategically.</p>
 <p>Established in 2013, Satispay is a mobile payment grid linking directly to users' bank accounts via their IBAN. It allows users to carry out payments in physical and virtual stores, transact money among friends, pay for services, and reserve savings via a mobile application. Satispay is serving in excess of 5 million users and about 380,000 merchants in Italy, France, and Luxembourg.</p>
</div>

Satispay raises EUR 60 million in funding to expand services

<div>
 <p>LendAPI, a company providing digital banking and loan origination solutions, has raised USD 3.2 million in seed funding. The funding round was led by Cohen Circle and included participation from Great North Ventures, AlleyCorp, Techstars, Plug and Play, and Interlock Capital.</p>
 <p>The newly raised capital will be paced towards expanding LendAPI's features and enlarging its presence across various financial sectors such as insurance and embedded finance. The company also has plans to enhance its AI capabilities and initiate new integrations.</p>
 <p>Established in March 2024, LendAPI is an infrastructure provider in financial technology that caters to FinTechs, banks, and other financial institutions to swiftly launch banking, credit, and BNPL solutions.</p>
 
</div>

LendAPI raises USD 3.2 million in seed funding to expand offerings and footprint

PROMINENT_CATEGORY

<div>
 
 <p>Digital banking solutions platform, Blend, has entered a partnership with Covered Insurance Solutions, a digital insurance market providing home, renters, auto, and life insurance. The aim of this cooperation is to provide home insurance to Blend's mortgage customers. </p>
 <p>As a result of this partnership, Covered's platform will be integrated directly into Blend's mortgage application process. This will offer homebuyers access to high-rated insurance carriers across the United States. In addition, Covered will assume control over Blend's insurance agency operations, changing from an internal model to a more partnership-driven approach.</p>
 <p>One of the key goals of this partnership is to give borrowers a wider range of carrier options and to offer better value. Furthermore, it will assist lenders in expediting the loan process by offering improved engagement tools and comprehensive insurance marketplace services.</p>
 
</div>

Blend partners with Covered Insurance to offer home insurance for mortgage customers

ANALYST_QUICK_TAKE

<div>
 <p>Digital banking provider, Plumery, has teamed up with payment solutions provider, Payment Components, to aid financial institutions in system modernisation without the need to modify their current core infrastructure.</p>
 <p>This collaboration permits banks to establish new digital channels and payment tools, including real-time payments, with no need for alterations to their core systems to conform with regulations like the EU's Instant Payments Regulation (IPR).</p>
 <p>Founded in 2022, Plumery offers a digital banking platform that empowers financial institutions to develop and launch mobile and online banking interfaces.</p>
 <p>Established in 2014, Payment Components offers software components to aid financial institutions in digital operation transformation and improving payment services.</p>
</div> <p><b>Analyst Quicktake:<br>
 </b> There has been an uptick in partnership activity related to digital banking solutions in this space. Notable partnerships include 1) <a href="https:<br>
//sp-edge.com/updates/35633"> Narmi’s partnership with Agent </a> IQ to enhance digital banking solutions for financial institutions, 2) <a href="https:<br>
//sp-edge.com/updates/35460"> ClearBank’s partnership with Visa </a> to enable real-time payments and card issuance, and 3) <a href="https:<br>
//sp-edge.com/updates/35313"> Nymbus’s partnership with PeoplesBank </a> to launch employer-focused banking solutions.</p>

Plumery partners with Payment Components to modernize bank payment systems

<div>
 <p>Narmi, a digital banking infrastructure provider, has partnered with Agent IQ, a provider of digital customer engagement solutions, to enhance digital banking experiences for community banks and credit unions. The collaboration will merge Agent IQ's Lynq platform with Narmi's digital banking and account-opening products, enabling financial institutions to provide AI-driven personalized experiences and dedicated banker support to customers via digital channels.</p>
</div>

Narmi partners with Agent IQ to enhance digital banking solutions for financial institutions

<div>
 <p>ClearBank, a UK banking-as-a-service infrastructure provider, has teamed up with Visa to develop solutions for issuance and money movement. The collaboration will utilize ClearBank's cloud-based banking infrastructure, offering Visa benefits such as real-time payment processing, improved transaction visibility, and a simplified reconciliation process in the UK and Europe. Moreover, ClearBank will issue Visa cards to UK customers and combine with Visa Direct for international money transfers.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Today’s partnership follows three months after ClearBank <a href="https:<br>
//sp-edge.com/updates/32538"> secured a credit institution license </a> from the European Central Bank (ECB) under the supervision of De Nederlandsche Bank to support its expansion into Europe. This license allowed it to provide euro accounts and payments in addition to pounds sterling, with access to European payment rails, including TARGET2 (T2), SEPA Credit Transfer, and SEPA Instant Credit Transfer.</p>

Visa partners with ClearBank to enable real-time payments and card issuance in UK and Europe

<div>
 <p>Marqeta, a platform for card issuing in embedded finance solutions, has collaborated with Klarna, Affirm, and Branch to introduce Marqeta Flex. This new solution is a 'Buy Now, Pay Later' (BNPL) model that can be incorporated into payment applications and wallets.</p>
 <p>Marqeta Flex offers consumers smooth accessibility to BNPL features directly within their current payment processes. It customizes the BNPL journey by directing users towards individualized options within payment applications. Additionally, it allows card issuers to incorporate multiple BNPL services.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Marqeta is strategically expanding into the BNPL sector to diversify its payment technology offerings and operations. The company is also active in the FinTech infrastructure and business expense management industries.</p>

Marqeta launches Marqeta Flex with Klarna, Affirm, and Branch

<div>
 
 <p>Digital identity verification company Socure has announced the acquisition of real-time risk decisioning platform Effectiv for a sum of USD 136 million. It is anticipated that the deal will reach its completion in November 2024.</p>
 <p>The main goal of this acquisition is to merge Socure's expertise in identity verification and fraud solutions with Effectiv's platform that specializes in AI orchestration and making decisions. After the integration, the updated service is planned to hit the commercial market within a span of 45 days.</p>
 <p>Currently, Socure is providing its services to around 2,700 clients and has successfully verified in excess of 2.26 billion identities during the previous 12 months. Among Socure's wide customer base are eighteen of the top 20 banks, HR payroll service providers, sportsbook operators, and 27 states.</p>
 
</div>

All Updates

Shell plans sale of carbon offset business

NovoPayment raises USD 20 million in growth funding from Morgan Stanley Expansion Capital

Satispay raises EUR 60 million in funding to expand services

LendAPI raises USD 3.2 million in seed funding to expand offerings and footprint

Blend partners with Covered Insurance to offer home insurance for mortgage customers

Plumery partners with Payment Components to modernize bank payment systems

Narmi partners with Agent IQ to enhance digital banking solutions for financial institutions

Visa partners with ClearBank to enable real-time payments and card issuance in UK and Europe

Marqeta launches Marqeta Flex with Klarna, Affirm, and Branch

Socure acquires Effectiv for USD 136 million to improve AI-powered fraud prevention

FinTech Infrastructure

Shell plans sale of carbon offset business

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