Tilta to launch embedded purchase lending solution. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.


1. Tilta to launch embedded purchase lending solution


A white-label fintech service startup, Tilta, has announced intent to launch embedded purchase finance infrastructure for e-commerce marketplaces.

The new platform, which will allow the marketplaces to earn a percentage of every transaction, was announced in a press statement on Thursday, May 18, 2023.

According to the startup, the new platform will offer a range of payment options including buy now, pay later (BNPL).

The platform is expected to bring solutions to market faster, as well as cut costs while allowing collaboration thanks to Mambu’s API-driven approach.

Ripples Nigeria gathered that Tilta incorporates customer relationship data in its credit decisioning processes to ensure what it claims to be one of the industry’s highest financing limits.

The statement reads in part:

“With its rise, we aim to provide merchants with a financing solution designed around their continuous needs.”

“As consumer behaviour shifts, many are rethinking credit decisioning and how to best capture key customer data points.

“By offering BNPL as a payment method, among others, Tilta is improving the marketplace experience for an increasing number of e-commerce buyers and sellers.”


TECH TRIVIA: Which type of interface allows communication between two applications?

  1. DVI
  2. API
  3. GUI
  4. SLI

Answer: see end of post


2. Ripple acquires Metaco in $250m deal


A crypto and blockchain solutions provider, Ripple, has acquired Swiss-based digital asset custody and tokenisation tech firm, Metaco.

The acquisition deal, according to Ripple, is billed at $250 million, and is expected to enable it to expand its enterprise offerings as it looks to provide its customers with the technology to custody, issue and settle any type of tokenised asset.

The startup made the announcement in a press release quoting Ripple president Monica Long on Thursday, May 18, 2023.

The deal is also expected to enable Metaco, best known for its digital asset custody and tokenisation infrastructure solution Harmonize, to “dramatically accelerate” its growth trajectory.

Speaking on the development, Ripple president said: “Custody is a key facet of the infrastructure required for enterprise crypto services.

“Adding these capabilities to Ripple’s already growing product solutions means we can continue to support customers as they look to utilise crypto and blockchain for real-world use cases across all phases of adoption.”

The new acquisition will make Ripple become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit led by founder and CEO Adrien Treccani.


3. Saudi Ma’aden acquires stake in Ivanhoe Electric for US$126.5m


Saudi Arabian Mining Company, Ma’aden, has finalized an agreement with Ivanhoe Electric Inc. (IE) to buy 9.9% shares in the company for US$126.5 million and form a 50/50 joint venture.

The company disclosed this in a press release on Thursday, May 18, 2023.

Ma’aden, according to media, is one of the largest multi-commodity mining and metals companies in the Middle East.

The deal is expected to provide Ma’aden with all tools to accelerate the exploration of Saudi Arabia’s lands.

Saudi Arabia is estimated to hold US$1.3 trillion of untapped minerals.

Speaking on the development, Robert Wilt, CEO of Ma’aden, said, “This is going to help put us on track to meet our 10x growth targets and fast track development of the Kingdom’s mineral riches.

“The JV will invest $66 million of the $126.5 million to fund exploration activities and the purchase of three new-generation Typhoon machines.”


Trivia Answer: API

Stands for “Application Programming Interface.” An API is a set of commands, functions, protocols, and objects that programmers can use to create software or interact with an external system. It provides developers with standard commands for performing common operations so they do not have to write the code from scratch.

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