Technology

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

Published

2 months ago

April 29, 2026

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

Technology

Alcott HR Appoints Michael Pascucci as Director of Strategic Projects

Published

10 minutes ago

June 20, 2026

FARMINGDALE, N.Y., June 19, 2026 /PRNewswire/ — Alcott HR announces Michael Pascucci as Director of Strategic Projects. Michael brings over ten years of experience in HR operations and project management.

Before joining Alcott HR, he held senior roles leading technology upgrades and launching new employee benefits programs. This experience supports Alcott’s initiatives, helping the company grow while putting clients first.

As Director, Michael drives operational excellence at Alcott HR by leading strategic projects. He maintains processes to ensure Alcott stays flexible and personalized during growth. Michael focuses on projects that further enhance client support.

Improving Data Accuracy: Michael connects Alcott’s main systems with partners. Automating these connections streamlines onboarding and enrollment, ensuring benefits and payroll are accurate and secure. This gives clients confidence their information is in good hands.

Creating a Seamless Client Experience: Michael is improving how Alcott manages projects and client renewals. With consistency in these processes, Alcott delivers a seamless, dependable experience, especially during year-end reporting and enrollment.

Building for Growth: By replacing manual tasks with digital solutions, Michael helps Alcott grow with its clients. This allows the team to focus on building relationships and offering expert HR guidance to help clients achieve their goals.

“Michael doesn’t just manage projects, he builds systems that help our team excel,” said Kristen Bartolotta, Sr. Director of Operations at Alcott HR. “His ability to transform complex processes into streamlined solutions has improved our efficiency and enhanced our client service.”

“Working with the talented Alcott team has been a great experience,” said Michael Pascucci. “I’m excited to continue working across departments to improve our processes, boost efficiency, and help the company keep growing.”

Through these efforts, Michael helps Alcott deliver even greater value to clients by driving innovation, strengthening relationships, and ensuring every organization can reach its potential.

About Alcott HR: Alcott HR is an IRS Certified* and ESAC Accredited, Professional Employer Organization that provides a comprehensive range of human resources solutions to small and mid-sized businesses. With nearly four decades of experience, Alcott HR offers customized services that allow businesses to manage their workforce more effectively while staying compliant with state and federal regulations. Their services include payroll, benefits, risk management, and HR support, designed to help businesses grow and succeed.

The IRS does not endorse any particular certified professional employer organization.

Media Contact:
Sarah Zulawski
Marketing Specialist
szulawski@alcotthr.com
(716) 241-8893

View original content to download multimedia:https://www.prnewswire.com/news-releases/alcott-hr-appoints-michael-pascucci-as-director-of-strategic-projects-302805721.html

SOURCE Alcott HR

Technology

Alcott HR Appoints Michael Pascucci as Director of Strategic Projects

Published

10 minutes ago

June 20, 2026

Through these efforts, Michael helps Alcott deliver even greater value to clients by driving innovation, strengthening relationships, and ensuring every organization can reach its potential.

The IRS does not endorse any particular certified professional employer organization.

Media Contact:
Sarah Zulawski
Marketing Specialist
szulawski@alcotthr.com
(716) 241-8893

View original content to download multimedia:https://www.prnewswire.com/news-releases/alcott-hr-appoints-michael-pascucci-as-director-of-strategic-projects-302805721.html

SOURCE Alcott HR

Technology

Vaultzy and Miracle University Pilot Demonstrates AI-Powered Document Management for Students. Expansion Planned for California Foster Youth Programs

Published

1 hour ago

June 19, 2026

A successful student pilot demonstrates how secure digital records and AI guidance can help them access education, employment, housing, and life opportunities

SACRAMENTO, Calif., June 19, 2026 /PRNewswire-PRWeb/ — Vaultzy, an AI-powered document management and life assistant platform, today announced the successful completion of a pilot with Miracle University, demonstrating how secure digital records and intelligent guidance can help students overcome barriers to education, employment, and economic mobility.

California State Treasurer Fiona Ma, CPA, noted, “Never expired. Never lost. Your vital documents, all in one secure place.”

For many students, particularly those facing economic hardship or life disruptions, lost identification, unavailable transcripts, and scattered paperwork can delay enrollment, employment, housing applications, financial aid, and access to public services. Vaultzy was created to address this challenge by providing a secure, user-controlled platform for lifelong document management.

Beyond document storage, Vaultzy recently launched the first version of its AI-powered Life Agent. The platform allows users to interact with their personal records and receive guidance related to major life transitions. By understanding what documents a user has available, the Life Agent can help identify requirements and next steps for education, employment, healthcare, government services, financial planning, and other important milestones.

The pilot was conducted in partnership with Miracle University, a Sacramento-based nonprofit organization dedicated to helping students who have left the traditional education system earn their high school diplomas and achieve academic and career success. The initiative focused on helping students digitize, organize, and securely manage their most important records while introducing them to emerging technologies that can support their long-term success.

“Our mission is to help students overcome barriers and unlock their full potential,” said Dr. Kadhir Raja, Founder of Miracle University. “Students need access to their documents, confidence in managing important life transitions, and guidance on what comes next. Vaultzy helps bring all of these together, empowering students to navigate education, employment, housing, and other life opportunities with greater confidence and independence.”

The pilot demonstrated the importance of giving individuals lifelong access to trusted records while providing the tools and guidance needed to use them effectively. As California State Treasurer Fiona Ma, CPA, noted, “Never expired. Never lost. Your vital documents, all in one secure place.”

Looking ahead, Vaultzy plans to continue expanding its AI-powered capabilities. “We envision a future where every individual has a trusted AI companion that not only safeguards their records but also helps guide them through life’s most important transitions,” said Avanti Ramraj, Co-Founder and Chief Product Officer of Vaultzy.

The success of the Miracle University pilot is helping inform broader discussions with educational institutions, nonprofit organizations, financial institutions, and public-sector leaders interested in modernizing how individuals manage and access trusted records while receiving guidance through important life transitions. One of the most promising opportunities is the potential application of Vaultzy within programs serving foster youth, seniors, and other underserved populations.

About Vaultzy

Vaultzy is an AI-powered document management and life assistant platform that helps individuals securely store, manage, and share important records throughout their lives. Combining secure document management, document intelligence, multilingual assistance, and agentic AI capabilities, Vaultzy is building the infrastructure for lifelong document ownership and trusted digital identity.

About Miracle University

Miracle University is a Sacramento-based nonprofit organization dedicated to helping students overcome educational barriers and achieve academic, personal, and professional success. Through mentorship, education, and community support, Miracle University equips students with the skills, confidence, and opportunities needed to transform their futures.

Media Contact
Anupriya Ramraj, Vaultzy, 1 510-255-0657, contact@vaultzy.ai, www.vaultzy.ai

Twitter, LinkedIn

View original content:https://www.prweb.com/releases/vaultzy-and-miracle-university-pilot-demonstrates-ai-powered-document-management-for-students-expansion-planned-for-california-foster-youth-programs-302805103.html

SOURCE Vaultzy