B2B cross-border payments are a $34.8tn market, but the money sits in the high-friction segments: SMB payments are 7% of flows and 31% of revenues, at take rates of 1.3% against 0.2% for large enterprise (FXC Intelligence). Stablecoins carry under 1% of that market today. The next wave of growth is expected to come from flows between FX and crypto markets as per IMMIX, but there is a corridor liquidity gap- the high cost, complexity, and fragmentation that occurs when payment companies try to convert stablecoins into non-USD local currencies. IMMIX looks to solve for this with a liquidity layer for un-/underserved corridors. It prices and executes the conversions for payment firms, stablecoin issuers and venues, rather than build FX desks.
IMMIX-, a trading firm that helps payment companies exchange stablecoins between currencies, today announced $3.5 million in funding from Crane Venture Partners, BTSE and Portfolio Ventures. IMMIX combines an AI-powered pricing engine with institutional liquidity infrastructure to price and execute stablecoin conversions, specialising in markets involving currencies beyond the US dollar… Source: https://www.globenewswire.com/news-release/2026/10/08/3376958/0/en/immix-raises-3-5-million-to-make-global-stablecoin-payments-easier-to-exchange-across-currencies.html
Clinical trials are a $66–89bn market (2025, depending on scope: Global Market Insights, Grand View), yet one-third of research sites carry 90+ days of overdue receivables and half hold 3 months or less of operating capital (SCRS 2024). Each dollar that a site is owed has to be rebuilt by hand from disconnected systems, according to its lead investor (Peppermint announcement). Peppermint automates billing and collections for clinical research teams, and the company reports that the studies on its platform tripled in three months.
Peppermint, an AI-powered platform that streamlines financial operations and accelerates growth for clinical research teams, today announced $4.7 million in seed funding led by Moxxie, with participation from Homebrew, Better Tomorrow Ventures, Layout Ventures, Digital Health Venture Partners, Night Capital, and angel investors Benjamin Mann and Evan Moore. … Sites feel it most acutely: One-third of sites have more than 90 days’ worth of overdue receivables, and 50% of sites have three months or less of operating capital, according to a 2024 survey by the Society for Clinical Research Sites (SCRS). Source: https://www.getpeppermint.ai/peppermint-raises-4-7m-seed
North American factoring volume is estimated at $185bn (FCI; USD conversion, ABF Journal), with a US fee pool of $3–6bn a year (IBISWorld; SFNet). Lenders check only samples by hand, at around $22 a check (SecurityBrief)- which is how First Brands reached $2.3bn in factoring liabilities while lenders never saw the underlying invoices (GTR). Iridium’s agents check every invoice at source, confirm it with the debtor and carry it through collections, for less than a manual sample. It offers “the picks and shovels” to scale the sector, leaving the credit decision to the lender.
Iridium Credit raises $3m. Iridium Credit, the verification infrastructure for invoice finance, today announced a $3 million round co-led by Field Ventures and MGV. Iridium agentically verifies every invoice a lender funds against its source documents, confirms it with the debtor, and carries it through collections and cash posting, at a cost that makes checking a lender’s whole book cheaper than hand-checking part of it. “Invoice finance has only reached a fraction of its potential because the manual operations underneath it are not scalable,” said Anthony Eden, Co-Founder and CEO of Iridium. … “Invoice finance should be one of the largest credit markets in the country, but it has been constrained by the manual bottleneck of verification, and the losses of the past year are what that bottleneck costs,” said Marc Schröder, Co-Founder & Managing Partner at MGV. Source: https://www.finextra.com/pressarticle/111183/iridium-credit-raises-3m
UK brokers write 83.5% of commercial insurance premium (GlobalData), in a broker revenue pool of about £21.6bn (IBISWorld). Konsileo’s premise is that administration, not advice, absorbs broker time. It is a chartered broker built around its brokers- “where coaching takes the place of bosses”- a pay model that rewards the value brokers generate through client relationships, and a strong focus on staff development via the Konsileo Academy.
Konsileo raises £5m to fuel broker-led growth Konsileo, a UK chartered insurance broker built around empowering its brokers, has closed a £5m equity round to drive its next stage of expansion. The funding was led by Committed Capital, which has backed the firm for many years, with ACF Investors also participating. Founded in 2017, the independent broker now has a workforce of over 220 and places more than £85m in insurance premiums each year on behalf of UK businesses. Committed Capital CEO Steven Harris said, “We are delighted to have completed this round and to deepen our long-standing commitment to Konsileo. John, Peter and the team have built one of the fastest-growing independent brokers in the UK, and they have done it organically, broker by broker, rather than through acquisition. Source: https://fintech.global/2026/10/07/konsileo-raises-5m-to-fuel-broker-led-growth/
US money market funds hold $7.96tn (ICI) against $1.66tn in Europe (Crane Data), so European firms keep far more of their cash in low-yield bank deposits. Money market funds are the established way to earn on idle cash, but access outside the US is limited (FinTech Global). Spiko offers tokenised money-market funds through its app and an API that financial platforms can embed, so a bank or neobank can add the product without building it. It manages about $2.7bn, up more than fivefold in a year (TNW).
Spiko raises $90m to scale tokenised cash funds…Spiko, the London and Paris-based FinTech behind a platform for tokenised money market funds, has raised $90m in a Series B round as it looks to expand access to yield-generating cash products. The latest funding takes Spiko’s total capital raised to $120m. Money market funds provide an established route to earning returns on cash, but Spiko argues that adoption outside the US remains limited. … Customers can access the funds through Spiko’s desktop and mobile applications, while financial platforms can integrate the products through an API. Source: https://fintech.global/2026/10/06/spiko-raises-90m-to-scale-tokenised-cash-funds/