Financial

Michael McFadgen, formerly managing director at Nex Opportunities, has taken a partner position at Element Ventures, which is raising a $130m for its first fund.

The round, reportedly the largest ever for a France-based financial technology developer, took the total raised by the business banking app developer to $150m.

MassMutual Ventures has followed up on the $50m Southeast Asian fund it launched in late 2018 with a second vehicle dedicated to the region.

Poste Italiane and existing investors ABN Amro and BNP Paribas took part in a $98.1m round for open-banking software provider Tink, which is now valued at almost $460m.

Collection House-backed Volt launched its savings account app last month and raised the $48.1m as it looks to add more features to its digital banking offering.

Visa is to acquire one of its portfolio companies, financial data network operator Plaid, in multi-billion-dollar transaction, which comes only four months after its latest commitment to the company along with its peer Mastercard.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Mobile payment technology provider Lydia took its total funding to $73m in a $44.5m round that also attracted CNP Assurances, with the cash to fund European expansion.

Hearst Ventures joined existing investors MassMutual Ventures and Nationwide Ventures as the insurance comparison platform took its total funding to nearly $30m.

Ping An's financial technology spinoff, which also counts SoftBank Vision Fund and SBI as shareholders, has sold an additional $35.2m in shares in the offering.

Martha Notaras, previously a partner at XL Innovate, has teamed up with former New York Life Investments executive John Kim at fintech and insurtech-oriented VC fund Brewer Lane Ventures.