FinTech Bill.com struck a new banking partnership last week with KeyBank. Together, the companies are launching Key CashFlow, a small business cash flow management solution that KeyBank will offer to its SMB customers via online banking. The solution integrates with businesses’ existing back-office accounting portals to obtain a holistic view of finances, with Bill.com providing the technology to integrate end-to-end payments functionality within the portal.
Open banking startup Open Payments announced a $3.5 million seed funding round last week led by Industrifonden, while existing backers Brightly Ventures and Luminar Ventures also participated. The startup operates an API aggregation platform compliant with PSD2 regulators, enabling third-party platforms and businesses to link directly into bank accounts and other financial institutions. With the new funding, Open Payments said it plans to expand its team and broaden its market presence across the Nordic and European regions.