Category: Fintech

• Fintech startup funding increased by 48% in Q1 2024, reaching $429 million between January and March 15, with two startups receiving $100 million each.
• Only $1.6 billion was injected into India’s tech startup ecosystem in the first quarter, a 51% decline from the previous year, with a total of 222 funding rounds compared to 432 in the same period last year.

• ValidMind secures $8.1m in seed funding to enhance AI transparency in FinTech.
• Investment led by Point72 Ventures, with contributions from various firms, totaling $11.1m in funding for ValidMind.
• ValidMind focuses on providing AI risk management solutions for financial services, automating testing, documentation, and governance of AI models.
• The company aims to address the challenges of AI integration in finance, ensuring compliance with regulations and managing associated risks.

• New Summit Investments is raising a new $100 million Climate Tech Fund to support climate tech and underrepresented fund managers.
• The fund will allow the firm to continue investing in managers supporting startups focused on environmental and social issues.
• New Summit’s previous fund closed at $40 million in 2022, and the new fund marks a significant increase.
• The firm invests in various funds, including venture capital, real estate, and infrastructure, with $115 million in assets under management.

• UK-based bio-tech business Clean Food Group secures £2.5 million funding from Clean Growth Fund
• Funding to accelerate commercialization of sustainable oils and fats technology using food waste as a source
• Clean Food Group’s technology aims to reduce carbon emissions and offer sustainable alternatives to traditional oil and fat ingredients
• Investment in Clean Food Group from various entities including Agronomics, Alianza Team, Doehler Group, and SEED Innovations Ltd.

• Real estate management platform Aeria secures $1.8 million in funding led by Kalaari Capital
• Aeria plans to use the capital to expand its presence in Southeast Asia, the Middle East, and other Asian countries within the next year
• SBI’s parabolic rally prompts MFs to book profits, raising questions about investor confidence in Khara’s optimism
• Allcargo executive predicts 3PL may account for half of total warehouse leasing in the future
• Toyota and Hitachi see around 100% returns in one year, sparking discussions on Japan’s economic outlook

Real Estate Management Platform Aeria Secures $1.8 Million in Funding Led by Kalaari Capital

Real estate management is a crucial aspect of the property industry, ensuring that properties are efficiently managed, maintained, and optimized for their full potential. Read more

• Clean Food Group secures £2.5 million funding from Clean Growth Fund for sustainable oils and fats technology
• Technology platform uses yeast strains and food waste to offer eco-friendly alternatives to traditional oil ingredients
• Food production contributes significantly to global greenhouse emissions, with palm and soy oils driving deforestation
• Clean Food Group’s product reduces greenhouse gases by 90% compared to traditional palm oil
• Investment partners include Agronomics, Alianza Team, Doehler Group, and SEED Innovations Ltd.

• WA med-tech sector in Perth, led by OncoRes, has proven viability without relying on interstate or overseas investors.
• OncoRes, under CEO Katherine Giles, has raised over $30 million locally, manufacturing cancer-detecting technology in Perth.
• The company’s team of 40, recruited from diverse industries, is preparing for a capital raise to enter the US market.
• WA’s medical research sector, supported by government funding, aims to diversify the state’s economy away from mining.

• Fidelity International Strategic Ventures leads $52M funding for Greenly’s carbon accounting tech, enabling global reach and solidifying position
• Greenly makes carbon accounting intuitive, precise, and affordable for SMEs and mid-market companies
• Greenly’s Climate Suite streamlines data collection and automates analytics to help companies lead in energy transition
• New regulations like the EU’s Corporate Sustainability Reporting Directive and US GHG reporting requirement drive market adoption
• Greenly aims to simplify carbon management, foster sustainability, and reduce 1 billion tons of CO2 by 2030

Greenly Funding Fidelity: Revolutionizing Carbon Accounting for Businesses

In the realm of sustainability and environmental responsibility, the significance of accurate carbon accounting cannot be overstated. Read more

• Vancouver tech funding: PacifiCan announces $14 million investments for seven Vancouver tech organizations
• Funding includes $11.5 million for four companies through Business Scale-Up and Productivity program
• Companies receiving funding include Clarius Mobile Health, Fintel Connect, Augurex, and others
• Clarius Mobile Health to use $3.3 million for global sales of wireless ultrasound device
• PacifiCan expects investments to generate $330 million in revenue growth

Vancouver Tech Funding Boost: PacifiCan Invests $14 Million in Seven Local Organizations

In a significant development for the Vancouver tech scene, the Pacific Economic Development Agency of Canada (PacifiCan) has announced a substantial investment of approximately $14 million to support the growth of seven businesses and organizations in the region. Read more

• BimaLab Africa Insurtech Accelerator Program secures $600,000 funding from Swiss Re Foundation
• Funding enables program expansion to five additional African countries, totaling 15 nations
• Program aims to accelerate 55 insurtechs, supporting underserved communities and businesses
• Initiative addresses Africa’s protection gap, focusing on climate change, health, and gender disparities
• Swiss Re Foundation commits to creating an insurtech innovation ecosystem to reach underserved markets

Expanding Horizons: BimaLab Africa Accelerator Secures $600,000 Funding

Africa Accelerator Funding has always been a crucial aspect of fostering innovation and growth across the continent. Read more

• Sugmya Finance secures $3 million funding from existing investors to support growth initiatives and maintain a healthy Capital Adequacy Ratio (CAR).
• The company has raised a total of over $10 million from micro venture capital firms and other investors since its inception.
• Tata Motors establishes a new plant worth INR9,000 crore in Chennai, expanding its presence close to Hyundai’s operations.
• Criminals collaborate with bank employees to execute cyber fraud schemes, highlighting a concerning security issue.

• Solaris SE secures €96 million in Series F funding to expand its BaaS platform, with total funding now exceeding €450 million.
• The funding round, led by SBI Group and existing investors, includes a financial guarantee of up to €100 million in capital equivalent.
• Solaris operates with banking and EMI licenses across Europe and India, employing over 750 individuals and generating €130 million in net revenues in 2022.

• Optimo Loan secures $10 million funding from Blume, Omnivore, and Pitti to address India’s $530 billion MSME credit gap
• Startup aims to assist small businesses using technology and co-lending strategies
• Easemytrip founder Pitti leads the Optimo Loan venture
• Tata Motors establishes a plant in Chennai with an investment of INR9,000 crore, nearing Hyundai’s location
• Warren Buffett’s next investment move speculated with USD169 billion in cash

Optimo Loan Funding: A Game-Changer in India’s Financial Landscape

In a significant development for India’s financial sector, Optimo Loan Funding has managed to secure a substantial $10 million in funding from prominent investors such as Blume Ventures, Omnivore, and Pitti. Read more

• The Carevoice raises $10 million in Series B funding, defying the health tech funding slowdown
• Insurtech companies turning to “embedded insurance” model for success
• Investors emphasize good economics and healthy traction for startups in the insurance technology space
• The Carevoice secures funding from Apis Insurtech Fund I, bringing total capital raised to $20 million
• Company plans to expand partnerships with insurers globally and invest in enhancing CareVoiceOS

The CareVoice Secures $10 Million in Series B Funding

In the realm of health tech funding, where the landscape has been experiencing a slowdown, the recent success story of The CareVoice shines brightly. Read more

• Moove secures $100 million during Series B funding, shifting global headquarters to UAE
• Partnership with Mubadala leads to headquarters relocation to the UAE
• Uber’s investment in Moove validates its business model and strengthens partnership
• Post-investment valuation of Moove reaches $750 million
• Funding infusion aims to expand operations in India and new urban centers, positioning for global expansion

Moove Secures $100 Million During Series B Funding

Moove, a mobility company founded in 2020 by Jide Odunsi and Ladi Delano, has recently made headlines for securing $100 million during its Series B funding round. Read more

• Singapore government introduces Sustainability Reporting Grant to aid companies in covering up to 30% of expenses for sustainability reports
• Mandatory climate-related reporting requirements to be enforced for listed and large non-listed companies aligned with ISSB standards
• Funding support of up to 30% provided to large companies by Singapore government to kickstart sustainability reporting journey
• New grants administered by EDB and EnterpriseSG aim to support large companies with annual revenues exceeding $100m
• SMEs to receive funding support covering up to 70% of costs for engaging carbon service providers and compiling sustainability reports

Singapore’s Sustainability Reporting Grant: A Game-Changer in Environmental Accountability

In a significant move towards promoting environmental accountability and sustainability, the Singaporean government has introduced a groundbreaking initiative known as the Sustainability Reporting Grant. Read more

• STX Next enhances Man Group’s fund management via innovative tech tools, strengthening client fund management through sophisticated data discovery, filtering, and predictive tools
• Successful partnership project completed between IT consulting business STX Next and Man Group, a global active investment management company
• STX Next collaborated with Man Group to build and maintain 16 applications with unique features to enhance visibility for portfolio managers
• STX Next introduced digital solutions to streamline operations without disruption, creating a unified interface language for customer trust and loyalty
• Results of partnership include improved data discovery process, predictive risk analysis tools, real-time dashboards for portfolio performance analysis, and a toolkit for future app development

Enhancing Fund Management with STX Next’s Innovative Technology Solutions

In the realm of financial management, the ability to efficiently handle client funds and make informed investment decisions is paramount. Read more

• Bezos Fund commits $60m to alt protein, Impossible Foods reveals new packaging
• HeavyFinance secures significant funding round
• Serenity Kids closes $52m in Series B funding
• Tierra Biosciences raises $11.4m in Series A funding
• Various other funding rounds and industry developments highlighted

AgriFoodTech Funding News: HeavyFinance secures $55m in funding

In the dynamic world of AgriFoodTech funding, the week brought exciting developments that underscore the growing momentum in the industry. Read more

• Sparqle, a sustainable delivery solutions startup, secures €1.2 million investment led by business angels to expand its platform and network.
• Interview Kickstart raises $10 million to enhance education platform for tech workers, with notable success stories in securing top jobs.
• ESProfiler, a British cybersecurity startup, receives a £2.8 million seed round to address inefficiencies in enterprise cybersecurity investments.
• Mondra, an AI-driven SaaS platform for supply chain decarbonisation, raises £3.6 million to expand to UK grocers and beyond.

• Global agrifood tech VC funding reaches 6-year low, down by 49.2% from 2022-23
• Funding in agrifood tech startups drops to $15.6B, with average deal sizes down by nearly 30%
• Share of agrifood tech funding in overall VC landscape declines to 5.5%
• Funding falls across all global regions, with Europe experiencing the smallest drop at 14%
• Upstream startups receive 62% of total funding, while downstream startups see a rapid slowdown

Investors Reflect on Global Agrifood Funding Landscape

In the ever-evolving world of venture capital funding, the global agrifood tech sector has hit a significant low, causing investors to pause and reflect on the shifting financial landscape. Read more

• Sustainability platform Tapfin secures $4 million in funding from Elevar Equity to support growth initiatives, market expansion, and technological enhancements
• Mumbai-based company aims to attract top-tier talent across various domains with the newly acquired capital
• Web3 association Blockniti faces skepticism about being different from previous platforms due to the absence of crypto or token
• Bhubaneswar emerges as a hub for money mules of digital loan sharks, highlighting concerning financial practices
• Stock Radar indicates HDFC Life reclaiming 50-DMA on daily charts, prompting consideration for investment

Sustainability Platform Tapfin Secures $4 Million in Funding from Elevar Equity

In the latest development in the realm of sustainability platform funding, Mumbai-based Tapfin has successfully raised $4 million from Elevar Equity. Read more

• Freed, a debt relief platform, secures $7.5 million in funding led by Sorin Investments.
• This marks the second equity injection for Freed, following a $2.8 million pre-Series A round in 2022 from angel investors and Multiply Ventures.
• Bhubaneswar emerges as a significant center for money mules working with digital loan sharks.
• Quick-commerce startups are expanding with larger dark stores and focusing on product returns to compete with Amazon and Flipkart.

• Quorum Club secures pre-Series A funding led by Gruhas
• Founded in 2018 by Vivek Narain and Sonya Jehan
• Operates three brands: Quorum, District 150, and Business Quarter
• Recent news includes Amazon’s India strategy and Tata Motors’ performance
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Quorum Club Secures Pre-Series A Funding from Gruhas

Quorum Club, a prominent hospitality brand founded in 2018 by Vivek Narain and Sonya Jehan, has recently made headlines by securing pre-Series A funding led by Gruhas. Read more

• ProCredit, a Philippines-based SME lender, secured US$4.1 million in pre-seed funding to advance tech-enabled SME lending, led by Integra Partners and involving various investors including the Menardo Jimenez Family Office and M Venture Partners.
• The founding team of ProCredit has extensive experience in SME lending, aiming to become a major player in the Philippines through innovative credit-first client engagements, rules-based underwriting, and a technology-driven approach to reduce costs and enhance customer experience.

• Greenlyte Carbon Technologies secures $11.5 million in pre-Series A funding round to scale its direct air capture solution
• Funding sourced from Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, Dr. Udo Jung, and Partech
• Funds to be used for team expansion, technology development, deployment, and cost reduction
• Company has raised over €20 million in total, showcasing strong market trust and progress
• Greenlyte’s innovative approach generates hydrogen while removing CO2, setting them apart in the direct air capture space

Greenlyte Carbon Technologies Secures $11.5M in Pre-Series A Funding

Greenlyte Carbon Technologies, a pioneering direct air capture startup, has successfully closed a pre-series A funding round, raising a substantial amount of €10.5 million ($11.5 million) to accelerate the scaling of its innovative solution. Read more

• GetVantage launches Rs100 crore ‘Rise-Up Fund’ for women entrepreneurs
• Funds disbursed through GetGrowth Capital, Varaniums Debt Fund partnership, and other NBFCs/AIFs
• Hyundai’s Ioniq 5 drive before mass-market EVs
• Google’s underestimation of LLMs in Gemini
• Seetha Kumari wins INR33 crore arbitral award against Bajaj Finance

Introducing the Rise-Up Fund by GetVantage for Women Entrepreneurs

GetVantage, a prominent player in the funding ecosystem, has recently launched a groundbreaking initiative called the ‘Rise-Up Fund’ specifically designed to support women entrepreneurs in their business endeavors. Read more

• Legitify secures €1.5M Seed funding for its online notarisation solution
• Founded in 2020 in Stockholm, Sweden, by Aida Lutaj and Arko Ganguli
• Offers online document certification and notarization transcending traditional boundaries
• Funding led by Verb Ventures, with contributions from other investors
• Plans to expand product offerings, introduce AI enhancements, and reach new markets

Revolutionizing Legal Processes with Legitify’s Online Notarisation Solution

In a digital age where convenience and efficiency are paramount, the need for innovative solutions in the legal industry has never been more pressing. Read more

• Lanistar CEO, Jeremy Baber, discusses the recruitment of Sir Gavin Williamson for his knowledge of Africa and future target regions.
• Lanistar is expanding into Latin America, specifically targeting Brazil, with plans to launch in Colombia and Argentina.
• The fintech is utilizing influencer marketing, with 1200 social media influencers promoting the brand, aiming to attract half a million customers.
• Lanistar aims to be eco-friendly, pledging to plant a tree for every new customer and offering virtual cards to align with customer values.

• VCs are hiring experts with investment banking expertise to help with exits as LPs seek returns
• Leading venture capital funds in India, such as Lightspeed, Accel, and Matrix Partners, have taken this approach
• Investors have expressed concerns about the lack of exit liquidity opportunities in India
• Professionals with investment banking backgrounds are being sought out over the past two years
• The move aims to address the challenge of exit liquidity in the Indian market

Understanding the Importance of VCs Exits Experts

Venture capital (VC) investments are crucial for the growth and success of startups. Read more

• Treasury management’s tech-driven evolution is highlighted by funding rounds and partnerships, emphasizing the shift towards platforms and embedded solutions.
• Treasurers’ roles are evolving to include risk management and strategic decision-making, with technology playing a crucial enabling role.
• Recent funding rounds, such as Embat’s 14.7 million euros Series A and Treasury4’s $20 million Series A, showcase the focus on real-time treasury management and global cash management.