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Illuminate Financial Closes $135m Early Growth Fund to Back the Next Generation of AI & Fintech for Financial Services

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LONDON, April 29, 2026 /PRNewswire/ — Illuminate Financial has closed its fourth fund at $135 million, bringing together eight of the world’s leading financial institutions to back Enterprise AI and Fintech companies building the infrastructure of tomorrow’s financial services industry.

Illuminate Financial, the specialist venture capital firm focused on technology for financial services, today announced it has raised $135 million for its Early Growth Fund from investors including BNP Paribas, Citi, Deutsche Börse, HSBC, Jefferies, RBC, S&P Global, and TD Securities. The fund targets Series B+ Enterprise AI and Fintech companies at the critical inflection point between proven technology and institutional scale.

Few venture funds can offer portfolio companies direct relationships with the institutions that will ultimately buy, partner with, or scale their technology. Illuminate’s strategic investor base provides an unparalleled network of go-to-market relationships, industry expertise, and operational insight. Their involvement is a meaningful differentiator for Series B companies seeking to accelerate enterprise adoption.

This is Illuminate’s fourth fund and first to target the Series B+ stage, a deliberate expansion built on over a decade of early-stage fintech investing. Founded by Mark Beeston in 2014, the firm operates across London, New York, and Singapore, led alongside Partners Alexander Ross, Rezso Szabo, Rachel Townend, and Luca Zorzino. Illuminate has raised $500 million across four funds, invested in 55 companies, and completed 14 successful exits. Its 2015 vintage fund is ranked the top European venture fund for distributions by Cambridge Associates.

Mark Beeston, Founder and Managing Partner at Illuminate Financial, said: “Financial services technology continues to evolve at pace, and the conviction shown by our strategic investors reflects a shared belief that the most durable infrastructure of the next decade will be built by the companies we are investing in today. Our competitive advantage in this strategy is the reach and relationships we have built over a decade of early-stage investing and the deep familiarity with founders and their journeys that comes from being there from the start. We are grateful for our investors’ partnership and look forward to backing the next generation of visionary founders.”

Junaid Baig, Head of Strategic Investments at BNP Paribas, said: “We are pleased to join Illuminate Financial’s Early Growth Fund as a strategic investor. Illuminate has built a distinctive platform and their deep understanding of how financial institutions adopt and deploy new technology aligns closely with our own priorities. We look forward to working with Illuminate to help shape the next generation of financial services infrastructure.”

Barrie Laver, Managing Director, Head of Venture Capital & Private Equity at RBC, said: “RBC has long been committed to investing in the technologies that will define the future of financial services, and our participation in Illuminate’s Early Growth Fund reflects that conviction. We value Illuminate’s understanding of enterprise adoption and the excellent access they provide to their portfolio companies.”

Andrew Murray, Managing Director at Citi Ventures, said: “Illuminate has an exceptional track record of identifying and backing the companies building critical infrastructure for financial services. Their deep relationships across the industry, combined with a rigorous focus on enterprise-grade technology make them a natural partner as we continue to engage with founders building at this level.” 

Four investments have already been made: Pliant, a Berlin-based corporate card and spend management platform; TransFICC, the specialist provider of low-latency connectivity for fixed income and derivatives markets; Zocks, a privacy-first AI platform for financial advisors; and Endowus, Asia’s leading independent wealth advisory platform with client assets exceeding $10 billion.

Disclosure

Nothing in this press release should be viewed as a statement of the named institutions’ experience with, or endorsement of, Illuminate Financial and it is not known whether the listed institutions approve of Illuminate Financial or the advisory services provided. Past performance is not indicative of future results. The contents of this press release should not be construed as legal, tax, investment or other advice, or a recommendation to purchase or sell any particular security.

About Illuminate Financial

Illuminate Financial is a specialist venture capital firm investing in early-stage Enterprise AI & Fintech companies. With teams across London, New York, and Singapore, we combine capital with unmatched connectivity to global financial institutions, helping visionary founders build and scale. www.illuminatefinancial.com

Media Enquiries
Rosie Zehtab
Head of Community
+44 (0)203 198 1600 
rz@illuminatefinancial.com 

View original content:https://www.prnewswire.com/apac/news-releases/illuminate-financial-closes-135m-early-growth-fund-to-back-the-next-generation-of-ai–fintech-for-financial-services-302756993.html

SOURCE Illuminate Financial

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Rho Launches Card Payments on Invoices, Letting Businesses Accept Credit Card, Debit Card, and Google Pay

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Rho Invoicing customers can now accept credit card payments on invoices alongside ACH and wire, from the same account they already use for banking, with invoices syncing automatically to QuickBooks Online

NEW YORK, Sept. 4, 2026 /PRNewswire/ — Rho, the all-in-one finance platform for businesses, today announced that Rho Invoicing customers can now accept credit and debit card payments, including Google Pay, directly on their invoices. The feature is rolling out to eligible Rho Invoicing customers and adds to the existing ACH, domestic wire, and international wire options already available on Rho invoices. No separate merchant account, no new dashboard, and no waiting on a wire.

Here is how it works for the payer: your client opens the invoice, enters their card information, and pays in a few clicks. Card payments carry a processing fee of 2.9% plus $0.30 per transaction, paid by the business issuing the invoice and deducted from the payment before depositing into your account. Inbound ACH and wire stay free, and the payer never sees a surcharge at checkout. Card payments cover USD-denominated invoices and have a default daily limit of $10,000 across all of a business’s invoices, which can be raised on request.

An invoice is marked paid once the payout is initiated, and funds follow on card-network timelines rather than instantly. A business’s first card payment can take up to two weeks to deposit while Stripe, which powers Rho’s card payment features, completes its initial review.

Rho Invoicing remains free for all Rho customers, aside from card processing fees, and supports up to 100 line items per invoice with per-line sales tax, recurring billing, payment matching, and a fully white-labeled template that carries the business’s brand rather than Rho’s, with virtual account numbers that keep the business’s actual bank details private. Rho invoices sync into QuickBooks Online as accounts receivable through Rho’s direct integration, so AR aging stays accurate without duplicate entry.

Card payments run through the same Rho account a business already uses for banking, corporate cards, and bill pay. No merchant account. No second dashboard. No new password to add to a growing list. Getting paid should not add another tool to the financial stack.

Availability is limited to eligible Rho Invoicing customers for USD-denominated invoices. Access to and enablement of card payment functionality requires completion of Stripe’s verification process and is subject to third-party underwriting and approval, which is not guaranteed.

To learn more, read how to accept credit card payments with Rho Invoicing.

About Rho

Rho is the modern banking platform built for the AI era. Startups and growth-stage companies can open accounts in minutes, issue cards, manage expenses, pay bills, and close the books – all in one connected platform backed by real human support.

Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, a division of Santander Bank, N.A. Member FDIC.

Card payment features on Rho Invoicing, including credit card, debit card, and Google Pay options, are powered by Stripe, Inc. This content is for informational purposes only. It doesn’t necessarily reflect the views of Rho and should not be construed as legal, tax, benefits, financial, accounting, or other advice. If you need specific advice for your business, please consult with an expert, as rules and regulations change regularly.

Media Contact:
Justin Wolz
justin.wolz@rho.co
(919) 306-7084

View original content:https://www.prnewswire.com/news-releases/rho-launches-card-payments-on-invoices-letting-businesses-accept-credit-card-debit-card-and-google-pay-302870490.html

SOURCE Rho

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Amwell Receives Frost & Sullivan’s 2026 United States Technology Innovation Leadership Recognition for Technology-Enabled Care Platforms

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Amwell® is transforming virtual care delivery through its unified Amwell Platform, combining interoperability, clinical integration, and intelligent orchestration to improve access, efficiency, and outcomes.

SAN ANTONIO, Sept. 4, 2026 /CNW/ — As healthcare organizations move beyond fragmented telehealth solutions toward connected virtual care models, Amwell is helping redefine how digital care is delivered at scale. Frost & Sullivan is pleased to recognize Amwell with the 2026 United States Technology Innovation Leadership Recognition in the Technology-Enabled Care Platforms industry for its ability to address healthcare fragmentation through a unified platform that connects patients, health plan members, clinicians, and partner ecosystems across the care continuum.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Amwell excelled in both, demonstrating its ability to align strategic initiatives with evolving healthcare needs while executing with flexibility, scalability, and measurable customer impact. “The combination of reliability, flexibility, and clinically integrated workflows positions the Amwell Platform as a strategic enabler for organizations seeking to reduce fragmentation, improve member engagement with covered programs, expand access to care, and create more connected healthcare experiences,” said Sagar Mukhekar, Industry Analyst, Frost & Sullivan.

Guided by a strategy centered on connected care, interoperability, and continuous, digital innovation, Amwell has positioned the Amwell Platform as an operating layer for next-generation healthcare delivery. Rather than relying on disconnected point solutions, the platform integrates technology, services, and clinical intelligence to orchestrate personalized care experiences across virtual primary care, urgent care, behavioral health, chronic condition management, and specialized digital programs.

Backed by 20 years of technology-enabled care innovation, more than 90 million covered lives, and over 38.7 million virtual visits, Amwell continues to help health plans and healthcare organizations modernize digital care delivery at scale.

“As healthcare becomes more digital, it risks becoming more fragmented. Health plans need more than point solutions. They need enterprise infrastructure, clinical integration, and an open platform that brings partners and programs together. Our vision at Amwell is that technology creates value when it improves access, engagement, quality, and efficiency, and produces measurable clinical and business outcomes. We’re honored by this recognition from Frost & Sullivan,” said Dan Zamansky, Chief Product and Technology Officer at Amwell.

Amwell’s enterprise scale includes supporting the digital transformation of the Defense Health Agency’s Military Health System, serving approximately 9.6 million beneficiaries. The company’s commitment to measurable outcomes is also reflected in a landmark National Institute of Mental Health (NIMH)-funded study, published in Nature Human Behaviour and among the largest studies of its kind. The study found that students offered SilverCloud® by Amwell® engaged in mental healthcare at more than double the rate of traditional care, experienced lower rates of mental health disorders, and generated an estimated $1.18 million in avoided costs for the study population.

The company further differentiates its platform through intelligent orchestration and navigation, helping guide members to appropriate programs while giving clinicians visibility across care plans. Amwell also evaluates integrated third-party programs for clinical effectiveness, scalability, and enterprise readiness.

Frost & Sullivan commends Amwell for setting a high standard in competitive strategy, execution, and technological innovation. The company’s unified approach to digital care is helping reduce fragmentation, improve access, strengthen operational efficiency, and support more equitable and sustainable healthcare delivery.

Each year, Frost & Sullivan presents the Technology Innovation Leadership Recognition to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The recognition identifies forward-thinking organizations that are reshaping their industries through innovation and growth excellence.

Frost & Sullivan Best Practices Recognition

Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Ashley Shreve
E: ashley.weinkauf@frost.com 

View original content:https://www.prnewswire.com/news-releases/amwell-receives-frost–sullivans-2026-united-states-technology-innovation-leadership-recognition-for-technology-enabled-care-platforms-302870492.html

SOURCE Frost & Sullivan

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Midea Brings “Simply ideal” to Life at IFA 2026

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BERLIN, Sept. 4, 2026 /PRNewswire/ — At IFA 2026, Midea brings its “Simply ideal” vision to life through the latest innovations, designed to bring greater intelligence, comfort, efficiency and ease to the home.

The exhibition also highlights Midea’s new five-year partnership with FC Barcelona.

The Midea Suites: Ways to Master the Home

The new SMART MASTER showcases Midea’s AI-powered home ecosystem. The AI Agent enables more natural, intuitive interaction with appliances across daily household scenarios. Midea Robot brings AI into the physical world through cooking, cleaning, laundry, care and whole-home control.

At IFA 2026, Midea unveiled its new AI voice-controlled air conditioner. Cliff Liang, General Manager of Enterprise Commercial for the China Region at Microsoft, joined the Midea event and shared Microsoft’s perspective on the next phase of AI.

AI ECOMASTER coordinates appliances and connected systems through intelligent power management. It learns household routines and adapts to changing needs for greater flexibility and comfort.

For homes where every inch counts, SPACE MASTER delivers more usable capacity within the same external dimensions, as demonstrated by the refrigerator’s expanded storage.

Alongside the MASTER Suites, the BUILT-IN Series includes the Milanese-inspired Ispira Series, combining cohesive design with intelligent functionality for an integrated cooking experience.

The Midea Scenarios: Innovation for Everyday Living

Comfort begins with the air around us. Midea’s R290 Series responds to growing demand for efficient cooling. It combines advanced compressor and safety-sealing technologies with ultra-low-GWP R290 refrigerant, delivering around 10% higher energy efficiency. Residential applications include H-Pack and PortaSplit, with PortaSplit set to adopt R290 in 2027.

In the kitchen, technology simplifies daily routines, from food storage and cooking to after-meal care. The Visionary Series refrigerators make food easier to see and access through GlassVision, hands-free lighting and clear, even illumination.

The InfiniteFit Series hobs feature an ultra-slim design for seamless integration into European kitchens, while OmniFlex enables flexible cookware placement. The PizzaPro built-in oven combines rapid heating with an 81L cavity, balancing speed with capacity.

After the meal, the Tri-GreenApex System brings washing, drying and storage together while using around 50% less energy than required for Europe’s highest A rating.

Laundry brings its own everyday needs. Midea’s family laundry room concept combines multi-drum solutions for different garment-care needs, allowing separate loads to run at the same time. The OMNI SERIES offers flexible combinations to suit different household routines.

Tobin Richardson, President and CEO of the Connectivity Standards Alliance, introduced Matter at Midea’s booth, highlighting its open, secure, interoperable framework and Midea’s role in advancing smart appliance connectivity.

Partnership and Brand Portfolio

At IFA 2026, Midea celebrated its partnership through an immersive FC Barcelona experience at its booth. FC Barcelona legend Carles Puyol made a special appearance, sharing insights from his career on leadership, teamwork and the pursuit of excellence. His presence reflected Midea and FC Barcelona’s shared commitment to world-class performance.

As part of Midea Group’s multi-brand portfolio, TEKA presents its latest innovations under the “Meaningful Experiences Through Technology” concept, including its new coffee machine range, the In-Line Series and Laundry Care solutions, bringing European design and functionality to modern living.

About Midea and Midea Group

Midea is one of over 10 brands within the Smart Home Business of Midea Group.

Founded in 1968, Midea Group is a leading global technology company and one of the world’s largest home appliance manufacturers. As a Fortune Global 500 enterprise, it ranked No. 231 in 2026. The Group has streamlined its core operations into seven high-growth business pillars to drive future growth: Smart Home, Industrial Technologies, Building Technologies, KUKA, New Energy, Midea Healthcare, and ANNTO Logistics.

www.midea-group.com

www.midea.com

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SOURCE Midea Group

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