Category: Fintech

• Arthan Finance secures Rs50 cr in series B funding from Incofin India Progress Fund and the Michael & Susan Dell Foundation
• Funding to drive expansion, enhance technological progress, grow Assets Under Management, and invest in AI and ML-based underwriting systems
• Previous funding rounds saw participation from founders, angel investors, and the Michael & Susan Dell Foundation
• Arthan Finance operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana, providing growth capital to self-employed nano and micro enterprises
• Incofin’s investment to bring tech-enabled & affordable credit to underserved Indian MSMEs, reshaping the MSME lending landscape in India

Arthan Finance Secures Rs50 Cr in Series B Funding

Arthan Finance, a leading LendingTech Non-Banking Financial Company (NBFC), recently announced a significant milestone in its growth journey by securing Rs50 crore in series B funding. Read more

• NBFC Arthan Finance raises Rs 50 crore in equity funding
• Modi 3.0 introduces familiar and fresh faces in the Cabinet
• India plans policy changes for job creation and investment under Modi’s leadership
• Markets adapt to shifting power dynamics at the Centre
• ICICI Bank faces scrutiny over Project Irongate outreach campaign

NBFC Arthan Finance Raises Rs 50 Crore in Equity Funding

In the realm of Non-Banking Financial Companies (NBFCs), Arthan Finance has made a significant stride by securing Rs 50 crore in equity funding. Read more

• India’s Environmental Tech Sector has raised a total of USD 7.3 billion in funding to date, with significant growth between 2018 and 2022.
• The funding for environmental technologies in India reached a peak of USD 2.47 billion in 2022 but dropped to USD 1.68 billion in 2023.
• There have been 388 new startups funded in the sector between 2018 and 2024, with 14 IPOs and 25 acquisitions reported.

• AgriFoodTech VC Fund Pollination launches $150m climate-focused fund
• eFishery secures $30 million loan from HSBC Indonesia for expansion
• Optogenetics startup Prolific Machines raises $55m in series B1 funding
• Takeoff Technologies files for Chapter 11 bankruptcy
• Various startups secure funding for ag-tech and climate solutions

The Week in AgriFoodTech: eFishery Secures $30M Loan, Pollination Launches $150M Fund

In the fast-paced world of AgriFoodTech, significant developments take place every week, shaping the future of food, agriculture, and climate technologies. Read more

• Mezzofy, a Hong Kong-based digital coupon platform, secures $2 million in funding to expand globally
• Funding led by Isola Capital’s IPVF VII with participation from Ooosh Tech Lab and the government-backed ITVF in Hong Kong
• Mezzofy plans to deepen presence in existing markets and target expansion in the United States and Europe
• Mezzofy’s infrastructure allows businesses to issue, distribute, and process digital coupons efficiently
• Mezzofy addresses security concerns and complex implementation challenges with big data, AI, and blockchain technologies

Hong Kong’s Mezzofy Secures $2M Funding to Expand Digital Coupon Platform Globally

In the bustling city of Hong Kong, Mezzofy, a digital coupon platform, has recently made waves in the tech world by securing a significant $2 million in funding. Read more

• Lending tech startup Fibe secures $90 million in Series E funding led by TR Capital, Trifecta Capital, and Amara Partner
• Funding round includes participation from existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures
• Fibe plans to use the capital for business expansion and to diversify its impact loans portfolio with more tailor-made products
• The startup, formerly known as EarlySalary, caters to young working professionals through its app, offering various loan products
• Fibe has raised over $140 million in total funding, with a significant increase in net profit and revenue in the financial year 2022-23

Lending Tech Startup Fibe Secures $90 Mn Funding

In a significant development in the fintech industry, lending tech startup Fibe, formerly known as EarlySalary, has successfully raised $90 million in its Series E funding round. Read more

• Europe’s fintech industry faces uncertainty due to funding squeezes, with optimism for recovery driven by lower interest rates.
• Fundraising in Europe is considerably harder compared to the U.S. and Asia, attributed to weaker economic growth.
• Major concerns for investors include company valuations, profitability paths, and increased regulatory scrutiny.
• Venture capital funding for European fintechs dropped sharply in 2023, with little sign of returning to pandemic-era highs.

• ABN AMRO makes significant investment in all-female founded climate-tech fund Blume Equity
• Blume Equity is a growth investor focusing on disruptive European scale-ups addressing the climate emergency
• ABN AMRO’s investment supports the transition to a zero-carbon economy and sustainable businesses
• Blume Equity has already made five investments, including companies like Sensorfact and Aerones
• ABN AMRO is committing €1 billion to early-stage capital investments in line with its climate strategy

ABN AMRO Invests in All-Female Founded Climate-Tech Fund Blume Equity: A Step Towards Sustainable Future

In a significant move towards supporting sustainable initiatives, ABN AMRO has recently announced its investment in Blume Equity, an all-female founded climate-tech fund. Read more

• Clean Energy Ventures successfully closes its second flagship fund, raising $305m, with investments already made in six new companies
• The fund drew heightened investor interest in technologies aimed at reducing carbon emissions
• Limited partners backing the fund include Carbon Equity, the Grantham Foundation for the Protection of the Environment, Builders Vision, and New Summit Investments
• The fund follows the success of CEV’s first $110m fund in 2019, supporting 20 companies in the climate tech sector
• CEV is expanding its reach into Europe with a new office in London, focusing on providing hands-on guidance and support to early-stage companies in the decarbonisation sector

Clean Energy Ventures Raises $305m for Second Fund

Clean Energy Ventures, a US-based venture capital company investing in early-stage climate innovations, has successfully closed its second flagship fund with commitments of $305m. Read more

• Disrupt Technology Venture introduces Disrupt Health Impact Fund with leading Thai business groups
• The fund plans to invest in 15 DeepTech companies in healthcare domestically and internationally in the next three to five years
• Thailand aims to become a healthcare hub for Southeast Asia, leveraging technological advancements in AI and BioTech
• The fund targets innovations in self-care, preventive care, silver age, holistic wellness, and smart hospital sectors
• Partnerships and investments aim to drive growth in the HealthTech industry nationally and globally, focusing on enhancing healthcare access and efficiency

Disrupt Technology Venture’s Bold Move into Health Tech Fund

Thailand-based investment firm Disrupt Technology Venture (Disrupt) has recently made waves in the tech investment scene by introducing the Disrupt Health Impact Fund. Read more

• Novel secures $15m funding for Capital Intelligence platform expansion
• Funding round co-led by IGNIA Partners and Ulu Ventures, with additional participation from MatterScale and Gaingels
• Total funding for Novel now exceeds $130m, supporting mission to revolutionize tech founders’ funding and growth
• Novel’s AI-driven Capital-as-a-Service model equips founders with tools for strategic fundraising decisions
• Novel’s services include CEO Dashboard, Valuation Tool, and VentureMatch™ for connecting founders with VC firms

Capital Intelligence Expansion with Novel Securing $15m Funding

In the fast-paced world of tech startups, securing funding is often a critical milestone that can pave the way for growth and success. Read more

• One Planet Capital is launching a Seed Enterprise Investment Scheme (SEIS) fund to invest in early-stage startups in the UK focused on climate tech
• The SEIS fund aims to raise £1.0 million to invest in SEIS qualifying climate tech businesses over the next year
• The fund will target a return of £3 for each £1 invested over a 5 to 7-year period with 50% SEIS income tax relief
• One Planet Capital’s SEIS fund complements its existing EIS fund and angel syndicate, expanding investment options in the climate tech sector
• The SEIS fund launch aims to capture value from investing in earlier-stage businesses, aligning with the recent expansion of the SEIS tax incentive scheme.

• Travel PayTech startup Swiipr secures £6 million in Series A funding led by Octopus Ventures, building on previous seed funding.
• Swiipr, launched in 2020, offers a digital platform for airlines to manage compensation efficiently, addressing flight disruption issues affecting over 500 million passengers annually.
• The funding will be used to enhance Swiipr’s strategy, product, and technology, focusing on R&D, AI, and data analytics for international growth in the airline market.

• Esgrid secures €500,000 Pre-Seed funding for sustainability tools
• Founded in 2023, Esgrid offers value chain sustainability solutions for enterprises
• Platform helps manage sustainability impact, ensuring ESG compliance
• Targets medium-sized enterprises facing high sustainability management costs
• Utilizes AI to provide ESG data analysis and reduce costs

Understanding Pre-Seed Funding

Pre-Seed funding plays a crucial role in the early stages of a startup’s journey towards growth and success. Read more

• Singapore-based company XSQUARE Technologies secures S$10.5 million funding for regional expansion and product development
• Company has notable clients like Coca-Cola, GSK, and Katoen Natie, and strategic partnerships including Mitsubishi Logisnext
• Funding led by Wavemaker Partners, with support from SEEDS Capital and Goldbell Corporation
• XSQUARE Technologies offers intelligent warehouse solutions addressing labor gaps and automation needs
• Plans for regional expansion, on-premise enhancements, and AI-powered feature development to solidify position as a leader in intelligent warehouse solutions

Singapore XSquare Technologies Secures S$10.5M Funding

In a significant development for Singapore’s tech industry, XSquare Technologies, a cutting-edge company specializing in intelligent warehouse solutions, has successfully closed a funding round, raising a substantial amount of S$10.5 million. Read more

• Swypex, an Egyptian startup, secures $4 million in seed funding to expand its comprehensive Financial Management Services in Egypt.
• Funding led by Accel, with participation from Foundation Ventures, the Raba Partnership, and prominent angel investors.
• Swypex offers a financial management platform with features like a financial dashboard, corporate cards, and integrations with accounting software.
• The startup, licensed by the Central Bank of Egypt, aims to simplify financial operations for businesses through automation and efficiency.

• USA remains FinTech’s central hub in this week’s funding rounds, raising $370.7m across 22 deals
• Silicon Valley and domestic investors support US FinTech firms, with the UK as a close contender
• Diverse global presence with countries like Canada, Chile, Norway, Australia, South Africa, Turkey, and Singapore securing deals
• Top sectors include FinTech, RegTech, WealthTech, InsurTech, and CyberTech
• Notable deals include Vitesse’s $93m Series C, Colendi’s $65m funding, and Cover Whale’s $27.5m investment

FinTech Funding Rounds in the USA

In the fast-paced world of financial technology, the USA continues to hold its ground as the central hub for FinTech funding rounds. Read more

• OpenseedVC launches with an initial $10 million fund closure, targeting experienced operators launching tech startups in Africa and Europe
• The fund offers startup checks up to $150,000 and access to a network of over fifty professionals, focusing on sectors like Future of Work, AI, Fintech, B2B Software, and Health & Commerce
• General Partner Maria Rotilu aims to provide early capital and support to operators, leveraging her experience in scaling international tech startups
• OpenseedVC seeks to invest in at least sixty startups over the next five years, prioritizing founders from Africa and Europe
• The fund’s investments align with UN Sustainable Development Goals, emphasizing the importance of experienced operators in building innovative tech solutions

OpenseedVC Launches with Initial $10M Fund Close

OpenseedVC, a brand new operator-led fund, has made its grand entrance into the investment world with the announcement of the first closure of its $10 million angel-style early-stage fund. Read more

• Enifer secures €36M funding for food-grade mycoprotein factory in Finland
• Factory in Kirkkonummi, Finland to produce PEKILO® mycoprotein from fungus
• Factory to be operational by end of 2025, with industrial fermenter for production
• Funding includes equity round, loans, and grant to fully finance the project
• Enifer aims to make mycoprotein a sustainable cornerstone of protein supply, with Novel Foods approval expected in 2026

Revolutionizing Sustainable Protein Production with Enifer’s Food-Grade Mycoprotein Factory

In a groundbreaking move for the sustainable food industry, Finnish mycoprotein company Enifer has secured a substantial €36 million funding package to establish a state-of-the-art food-grade mycoprotein factory in Kirkkonummi, Finland. Read more

• Dave Friedberg unveils ‘boosted breeding’ technology at Ohalo with $100m funding, a potential gamechanger in crop breeding
• Ohalo ensures progeny of two plants get all desired traits by controlling genes transfer
• ‘Polyploid’ plants with higher yields created through gene editing techniques
• Ohalo’s technology enables production of uniform seed for farmers, saving time and money
• Industry response to Ohalo’s innovations includes excitement and skepticism among breeders

Revolutionizing Crop Breeding with Boosted Breeding Technology

In a groundbreaking development for the agricultural industry, Dave Friedberg, CEO of Ohalo, has introduced a new ‘boosted breeding’ technology that is poised to transform the way crops are bred. Read more

• Humors Tech, an innovative healthtech company, secures Rs 2 crore pre-seed funding from Venture Catalysts for its breath-based health screening device Respyr
• Respyr uses AI, IoT, and patented biomarker analysis for early disease detection and health monitoring
• The device aims to revolutionize healthcare by providing proactive, personalized, and accessible health monitoring
• Founded in 2021 in Bangalore, Humors Tech integrates AI, deep tech, and IoT with clinical research for innovative healthcare platforms
• Other recent funding news includes Nexus-backed Blueshift raising $30M and Jai Kisan securing $30M led by Mirae Asset

Humors Tech Secures Rs 2 Crore Pre-Seed Funding

Humors Tech, a prominent healthtech company renowned for its revolutionary breath-based health screening device Respyr, has recently secured a significant pre-seed funding of Rs 2 crore from Venture Catalysts. Read more

• Reactive Technologies secures £25 million in funding round led by M&G, BGF, and Breakthrough Energy Ventures for global expansion.
• The company’s innovative GridMetrix® technology addresses grid stability challenges in the face of increasing renewable energy integration.
• Demand for Reactive’s solutions is rising as renewable energy deployment grows globally.
• The investment from M&G’s Catalyst will support Reactive’s mission to facilitate the energy transition to a net-zero future.

• Egyptian fintech, Bokra, secures $4.6 million in seed funding round to support financial goals for retail and SME investors.
• Bokra addresses challenges like lack of personalized investment planning, fragmented asset-class applications, opaque fee structures, and costly physical assets.
• The app offers balanced financial planning across various asset classes and provides partial ownership of diverse items.
• CEO Ayman El-Sawy emphasizes making high-yield investment opportunities accessible to retail investors through advanced fintech solutions.

• Bluworks, an Egyptian startup, secures $1 million in pre-seed funding for HR Tech innovations
• Funding led by Khawarizmi Ventures, with participation from angel investors Camel Ventures and Acasia Ventures
• Bluworks specializes in SaaS solutions for blue-collar HR-Tech, offering a mobile-first HR solution
• Focus on streamlining payroll, scheduling, and recognition for blue-collar workers to reduce errors and turnover rates
• Plans to expand into other industries beyond retail and food and beverage, leveraging local understanding and technical capability

Bluworks Secures $1 Million in Initial Funding to Expand HR Tech Innovations

In the realm of HR tech innovations, Bluworks, an Egyptian startup, has made waves by securing $1 million in a pre-seed investment round. Read more

• Green hydrogen startup Hysata secures $111 million in investment
• Ocean 14 Capital Fund announces over $200 million for ocean health investment
• Uber acquires Delivery Hero’s Taiwan business for nearly $1 billion
• ByHeart raises $95 million for commercial launch in the US
• Rize receives $14 million in Series A funding to expand into Vietnam and Indonesia

Green Hydrogen Investment: Hysata’s Impressive $111 Million Raise

In the realm of sustainable energy, green hydrogen has been gaining significant traction as a clean alternative to traditional fossil fuels. Read more

• Cover Genius secures $80 million in Series E Funding led by Spark Capital
• Existing investors Dawn Capital, King River Capital, and G Squared also participate in the funding round
• Cover Genius achieved 107% year-on-year growth in 2023 and maintained 145% Net Revenue Retention
• The funding will be used to accelerate growth initiatives, focusing on advanced technology like AI-driven claims handling
• Cover Genius transforms insurance distribution with its XCover platform, offering customisable protection solutions to global businesses

Cover Genius Secures $80m in Series E Funding

Cover Genius, an insurtech specializing in embedded protection, has made headlines by successfully completing its Series E funding round, securing an impressive $80 million. Read more

• Cover Genius secures $80 million in Series E funding round led by Spark Capital, known for backing Twitter and Slack.
• The company has raised a total of $245 million to date, with support from existing investors like Dawn Capital and King River Capital.
• Cover Genius focuses on embedded protection and plans to target key markets such as travel, retail, ticketing, and logistics.

• Cover Genius closes $80M in Series E Funding led by Spark Capital
• Achieved 107% year-on-year growth in 2023
• Maintained 145% Net Revenue Retention by partnering with global digital businesses
• Focus on key markets like travel, retail, ticketing, and logistics
• Plans to invest in cutting-edge technology, including AI claims handling, to expand protection solutions

Cover Genius Closes $80M in Series E Funding

In the fast-evolving world of insurtech, Cover Genius has made significant waves by closing an impressive $80M in Series E funding. Read more

• Incredible bags $1m pre-seed funding to revolutionize credit management
• London-based FinTech startup secures investment from notable figures in the industry, including Mark Ransford and Atomico angels
• Incredible’s mobile platform uses Open Banking and AI to automate credit card debt repayments and consolidate debts
• Funding will be used to launch platform and app, expanding coverage to various credit products
• CEO Yaseen Rostom aims to simplify credit management for all consumers, transforming it into an empowering financial aspect

Incredible bags $1m Pre-Seed Funding to Revolutionize Credit Management

Incredible, the London-based FinTech startup, has recently made waves in the industry by securing $1m in pre-seed funding aimed at revolutionizing credit management for consumers. Read more

• Insurtech startup BimaPay secures $2 million funding to expand tech-driven insurance solutions, aiming to enhance insurance accessibility and affordability through innovative technological solutions.
• Founded by Hanut Mehta, Mohit Gupta, and Kapil Garg, BimaPay specializes in real-time digital financing, offering insurance premium finance and supporting insurance intermediaries with cash flow requirements.
• The funding will fuel BimaPay’s expansion within the financial inclusion and insurance sectors, facilitating greater integration into India’s financial landscape.