Category: Fintech
Composable business funding: Fastn lands $2.6 million and snags HP as a key customer!
- Composable business funding has been secured by Fastn, which raised $2.6 million in a seed funding round led by LiveOak Ventures and Antler to enhance modular application development through AI.
- The startup focuses on simplifying the integration of existing solutions, enabling businesses to compose and connect applications quickly, thereby reducing reliance on custom code.
- Fastn’s platform has attracted HP as a customer, who reported significant improvements in time-to-market and efficiency in connecting APIs and customer applications.
Oyster Bags Funding: $59M Series D Boosts Global Expansion of Employment Solutions!
- Oyster bags $59m in Series D funding to enhance global employment solutions, increasing its valuation to $1.2bn and total funding to $286m.
- The funding round was led by Silver Lake Waterman, with support from notable investors like Emergence Capital and Stripes.
- Funds will be used to accelerate platform development, improve compliance capabilities, and enhance customer experience to attract top talent.
- Oyster has expanded its offerings, introducing products like Global Payroll, Visa Sponsorships, and the Salary Insights tool, along with a no-code solution for integrated hiring.
“Palm Seed Funding Soars to $6.1M to Revolutionize Enterprise Treasury Management!”
- Palm secures $6.1m seed funding to enhance enterprise treasury management, with backing from investors like Speedinvest and Target Global.
- The startup aims to optimize cash management for treasury teams by providing insights on fund movements across bank accounts and subsidiaries.
- Their platform offers a control panel that improves cash efficiency and reduces operating cash balances by over 30%, outperforming human-generated forecasts in many cases.
Dutch clean energy powerhouse SET Ventures secures €200 million fund to revolutionize digital technology!
- Dutch clean energy investor SET Ventures has launched a new €200 million fund to invest in digital technologies for renewable energy, focusing on 20 to 25 European startups.
- The fund is twice the size of its previous one and aims to maintain its investment strategy by focusing on Series A rounds with initial checks between €2 and €5 million.
- SET Ventures emphasizes the importance of digital solutions for achieving a carbon-free energy system, distinguishing itself from other firms that prioritize hardware.
E-commerce Fulfilment Funding Soars: UK’s Warehow Secures £2.1 Million in Series A Round!
- E-commerce fulfilment company Warehow has successfully raised £2.1 million in a Series A funding round led by the Midlands Engine Investment Fund II, with support from existing investor MENA Moonshots.
- Founded in 2021, Warehow specializes in serving fashion and homeware retailers by enabling sales across multiple marketplaces like eBay and John Lewis through a unified fulfilment service.
- The funding will be used to enhance technology, expand storage capacity at existing warehouses, and boost sales and marketing efforts.
FinTech funding news: Nearly $750M Secured in a Stellar Week for Innovation!
- FinTech funding news highlights nearly $750m raised, with Cribl securing $319m and redalpine raising $200m for InsurTech and FinTech investments.
- The USA dominated the funding landscape, accounting for over half of the deals, while India led the international competition with two deals.
- A diverse week saw FinTech as the leading sector with seven deals, followed by InsurTech with four and RegTech with three.
Liberis and Sezzle Funding Revolution: A Game-Changer for Small Businesses in the US!
- Liberis Sezzle funding aims to enhance access to capital for small businesses in the US through a collaboration between Liberis and Sezzle.
- The partnership introduces Sezzle Capital, designed to provide flexible funding solutions amid concerns raised by 77% of small business owners about securing necessary funding.
- Plans are in place to expand the Sezzle Capital initiative into Canada in the near future.
Comun neobank funding skyrockets with $21.5M raise just months after previous round!
- Comun neobank funding reached $21.5 million in a Series A round, following a previous $4.5 million raise just months earlier.
- The digital bank, aimed at serving underserved Latino immigrants in the U.S., has seen a 50x growth in monthly revenue in early 2024.
- Comun’s founders, who experienced financial exclusion as immigrants, designed services to ease banking access, allowing account applications with various ID types from Latin America.
Redalpine $200M Fund Ignites InsurTech and FinTech Innovation with New RAC VII Investment!
- redalpine has secured a $200m fund for its RAC VII fund to support InsurTech, FinTech, and other innovative technology sectors across Europe.
- The fund is redalpine’s largest to date and was oversubscribed, indicating strong investor interest despite current fundraising challenges.
- Plans include opening a new office in London to enhance their presence in key markets like deeptech and AI.
- RAC VII aims to invest in 15-20 early-stage companies, with nine investments already made in sectors like clean energy and legal tech.
Red.Health Series C Funding Set to Ignite Tech and Clinical Efficiency by FY25 End!
- Red.Health plans to raise Series C funding by the end of FY25, focusing on technology and clinical efficiency amid strong interest from global venture capital due to improvements in India’s healthcare market.
- The Hyderabad-based healthcare start-up has raised $43 million from Seed to Series B funding since its launch in 2016, with a recent $20 million funding round led by Jungle Ventures in May 2024.
Nigerian B2B Payments Firm Waza Secures $8 Million in Exciting New Funding Round!
- Nigerian B2B payments firm Waza has raised $8 million in equity and debt funding to enhance trade finance solutions and expand operations beyond Ghana and Nigeria.
- The funding includes a $3 million equity round from notable investors like Y Combinator and $5 million in debt from Timon Capital for trade financing.
- Founded by Maxwell Obi and Emmanuel Igbodudu, Waza operates as a money services business in the U.S.
Jobilla HR funding soars with €6M boost for revolutionary multi-language HR software!
- Jobilla HR funding includes €6M raised to enhance its multi-language HR software and support international expansion.
- The new recruitment tools automate time-consuming tasks, reducing campaign setup and running time by at least half.
- Jobilla’s localization function creates native-level content in multiple languages, helping companies attract talent in new markets.
- The funding will be used to improve the AI-driven platform and increase Jobilla’s market position in Europe, streamlining the recruitment process.
FinTech Funding Rounds Surge: $1 Billion Raised This Week Across 24 Exciting Deals!
- A total of $1bn was raised across 24 FinTech funding rounds this week, with $733m coming from just two larger deals.
- Marketplace lending dominated the week with the three largest deals, including Lendbuzz’s $400m and DMI Finance’s $333m funding rounds.
- The US led in funding, with 15 of the 24 deals, while India had three, and other countries included Saudi Arabia, Pakistan, Singapore, Kenya, Canada, and Kuwait.
NAD Measurement Technology Scores Major Funding Boost to Launch in the US!
- NAD measurement technology is being advanced by Finland-based biotech NADMED, which has secured €3.5 million in a Series A funding round to develop its blood test for measuring NAD levels.
- The company aims to expand its technology to the US and international markets, focusing on the importance of NAD and glutathione levels in cellular health and age-related diseases.
- NADMED’s proprietary method, developed in collaboration with the University of Helsinki, offers a faster, more cost-effective alternative to mass spectrometry for measuring all forms of NAD and glutathione from fresh blood samples.
TransBnk Funding Boost: $4 Million Propels Tech Innovations and Global Aspirations!
- TransBnk funding boost of $4 million will enhance its tech stack and support global expansion efforts, particularly in the Middle East and Southeast Asia.
- The Series A funding round was co-led by 8i Ventures and Accion Venture Lab, with participation from several other investors.
- Founded in 2022, TransBnk has quickly become a key player in transaction banking, offering APIs for banks, NBFCs, and fintech firms to innovate in lending and payments.
InsurTech Investment Decline Plummets 78% Year-Over-Year, Signaling a Major Shift in the Industry!
- InsurTech investment decline in the US saw a 78% drop in funding year-over-year, with only $0.5 billion raised in H1 2024 compared to $2.3 billion in H1 2023.
- Deal activity also fell significantly, with only 53 deals completed in the first half of 2024, a 43% decrease from 93 deals in the same period last year.
- If the current pace continues, the total projected deals for 2024 would be 106, representing a 30% decrease from 153 deals in 2023.
DiMuto Series A Funding Boost: $5.9 Million Secured for Bold Expansion into Latin America and the US!
- DiMuto Series A funding of $5.9 million will facilitate the startup’s expansion into Latin America and the US, enhancing its agri-food trade solutions.
- The funding round was led by The Yield Lab Asia Pacific, with participation from several investors including SiS Cloud Global Tech Fund 8 and Gold Sceptre Limited.
- DiMuto aims to improve its technological offerings and strengthen its market presence in key regions, building on its previous $2.35 million fundraising in 2021.
Piclo Energy Funding Boosts Innovation in Energy Asset Trading with EDP Investment!
- Piclo energy funding includes an undisclosed investment from EDP Ventures to support electricity capacity trading.
- EDP Ventures co-led the funding round with Clean Growth Fund and Future Energy Ventures, aiming for a larger round in 2024.
- The funds will facilitate Piclo’s global expansion, particularly in the United States and Australia, where it currently operates in six markets.
- Piclo’s platform has over 300,000 active assets, totaling more than 22 GW of flexible capacity, and has awarded contracts worth £74 million.
Active Fintech Investors: Unveiling the Power Players Dominating Southeast Asia’s Investment Scene Over the Last Two Years!
- Active Fintech Investors in Southeast Asia have shown resilience despite a 25% YoY decrease in funding, with US$899 million secured in H1 2024, marking the lowest funding period in three years.
- Antler is the most active fintech investor in Southeast Asia, completing 26 deals in the past 24 months and focusing on early-stage support for startups.
- XA Network ranks second with 11 deals, leveraging its network of technology leaders to empower startups addressing critical regional challenges.
TILLIT Axes AXA Fund from Platform Following Gleeson’s Exit!
- TILLIT has removed the AXA Framlington Global Technology Fund from its platform following the departure of Jeremy Gleeson, who managed the fund for 17 years.
- Although Gleeson was not deemed a key-person risk, his exit prompted TILLIT to conduct a thorough review of the fund and its management team.
- Concerns raised during the evaluation included potential team changes and the impact of BNP Paribas’s acquisition talks with AXA IM.
Federal Funding Fuels Agri-Tech Revolution for Food Companies in Southern Ontario!
- Federal funding agri-tech initiatives in Southern Ontario are set to enhance the agricultural sector, focusing on technology and food companies.
- Farm Health Guardian Ltd. received $350,000 to commercialize its digital biosecurity software, which uses facial recognition to improve animal health and prevent disease entry.
- Parrish & Heimbecker is constructing a new bulk agricultural marine terminal in Picton, which aims to support eastern Ontario farmers by improving efficiency.
AfDB Climate Innovation Takes a Leap: $10 Million Investment Energizes KawiSafi II Fund!
- AfDB Climate Innovation is boosted by a $10 million investment in the KawiSafi II Fund, aimed at supporting climate-focused projects for vulnerable communities in Africa.
- The investment, sourced from the Sustainable Energy Fund for Africa (SEFA), will help local businesses develop and expand renewable energy and clean mobility initiatives.
- KawiSafi Ventures’ Managing Director highlighted the investment’s catalytic role in attracting essential capital for Africa’s climate innovators.
Norway Wealth Fund Rakes in Billions from Tech in 2024, But Now Slashes Stakes in Meta, Novo Nordisk, and ASML!
- Norway’s $1.7 trillion wealth fund gained 8.6%, or $138 billion, in the first half of 2024, driven primarily by technology stocks amid increased demand for AI solutions.
- The fund’s equity investments rose by 12%, although it underperformed its benchmark by 0.04 percentage points, with real estate negatively impacting returns.
- Norges Bank Investment Management reported declines in fixed-income investments and unlisted real estate, with renewable energy infrastructure dropping 18%.
Syfe Funding Boosts Growth in Asia with Impressive USD 27 Million Investment!
- Syfe funding Asia: Syfe has raised USD 27 million in its latest funding round, bringing its total funds raised to USD 79 million.
- The funding round included existing investors Valar Ventures and Unbound, as well as new investments from two UK family offices focused on fintech.
- The new capital will facilitate Syfe’s expansion across Asia and support the launch of new products and technological innovations.
Breakthrough Energy Ventures Secures $839M for Ambitious Third Fund, Paving the Way for Innovative Solutions!
- Breakthrough Energy Ventures, backed by Bill Gates, has raised $839 million for its third fund, focusing on innovation in climate technology and emission reductions.
- The new fund, referred to as BEVIII, aims to invest in green solutions across various sectors, including electricity, transportation, and agriculture.
- Gates co-founded Breakthrough Energy Ventures in 2015, which includes notable investors like Jeff Bezos and Jack Ma, and has over $3.5 billion committed to about 110 companies.
Healthcare fintech funding skyrockets as PayZen secures $32M Series B and $200M debt facility to supercharge market expansion!
- Healthcare fintech funding has been bolstered by PayZen, which raised $32 million in a series B round and secured a $200 million credit facility to enhance market expansion.
- The startup specializes in AI-driven patient financing solutions, aiming to alleviate the burden of medical debt by offering interest-free and fee-free payment options.
- PayZen’s services have proven effective, with partner health systems seeing a 23% to 35% increase in patient collections.
Nayya Strategic Funding Boosted by ADP Ventures: A Game-Changer for Innovation!
- Nayya strategic funding has been secured from ADP Ventures, marking a significant investment in the employee benefits management platform.
- The partnership, which began in 2022, aims to enhance benefits management for over 600,000 employees using ADP Workforce Now and an additional 400,000 through ADP TotalSource.
- Nayya utilizes artificial intelligence to simplify the selection and management of employee benefits across health and retirement plans.
Balderton Capital funds soar as backer of Revolut secures £1bn across two groundbreaking funds!
- Balderton Capital funds have successfully raised $1.3bn (£1bn) through its Early Stage Fund IX and Growth Fund, with $615m and $685m allocated respectively.
- The venture capital firm plans to invest in companies from seed stage to IPO, marking its first dual fundraise for both early and growth stages.
- Balderton aims to support European technology companies and has backed nearly 300 firms since its inception in 2000.
Wealth-tech startup funding: Centricity set to raise $15 million at a striking $100 billion valuation!
- Wealth-tech startup Centricity is raising $15 million at a valuation of $100 million, with funding led by Lightspeed Ventures and participation from existing and new investors.
- The company plans to use the funds to enhance operations in technology, investment, and sales functions.
- Centricity’s previous valuation was $20 million during its seed funding round, where it raised $4 million from notable investors.
Australian FinTech funding faces a steep decline, plunging to a five-year low!
- Australian FinTech funding is set to drop to its lowest level in five years, with a potential 60% decrease in deal activity year-over-year based on the first half of 2024.
- Only 34 deals were recorded in H1 2024, reflecting a sharp 62% decrease from 89 deals in H1 2023.
- Total funding for the sector fell to $0.6 billion in H1 2024, a 71% decline from $2.1 billion raised in the same period last year.