Despite coronavirus fears, the last week saw a number of FinTech companies raise money.
From TierPoint’s massive $320m round to Pruvo’s $1.1m, last week saw a smattering of new investment rounds of all sizes fill the war chests of FinTech and RegTech companies around the world.
TierPoint
TierPoint has announced that it has raised a massive $320m preferred equity round. The connected data centre and cloud solutions company will use the cash injection to repay the its second lien credit facility in full, reduce its balance outstanding under its credit facility and foster growth of the platform.
The investment round was backed by Argo Infrastructure Partners, Wafra, Macquarie Capital Principal Finance, Cequel III, Ontario Teachers Pension Plan, RedBird Capital Partners, The Stephens Group and Thompson Street Capital Partners.
iCapital Network
iCapital Network has raised $146m in its latest funding round to keep creating solutions to improve connectivity in the alternative investing market. The company aims to use the money to boost its technology and strengthen its relationship with partners across North America, Asia, Europe and the Middle East.
The Ping An Global Voyager Fund led the round. Goldman Sachs, Affiliated Managers Group, Hamilton Lane, WestCap, iCapital, BlackRock, UBS Financial Services, Blackstone and BNY Mellon also participated in the raise.
Xinja Bank
Xinja Bank is one of the many new neobanks to have popped up in Australia over the past few years aiming to revolutionise the nation’s banking systems. And now Xinja could be closer to achieving that goal after securing a $258m investment from Emirates World Investments. While the challenger bank did not disclose how it would use the money, it did reveal that it will receive the funding in installments over the next two years.
Plastiq
Plastiq raised $75m to fund its push to attract more talent and to develop new solutions to make it easier for people to pay bills with credit cards. The Series B might be particularly well-timed as many small businesses are expected to struggle with this because of the coronavirus. B Capital Group, Kleiner Perkins, Khosla Ventures, Accomplice and Top Tier Capital Partners all participated in the round.
Arkose Labs
Online fraud and prevention company Arkose Labs has netted $22m in its Series B round. The round was backed by investors M12, PayPal and USVP.
Capital from the round will be used to improve product development, make new hires and increase global expansion efforts.
Stellar Cyber
Cybersecurity company Stellar Cyber has raised a total of $21.8m in its Series A round after extending its investment push. The startup originally received $13.2m in February last year from investors like Valley Capital Partners, Big Basin Ventures and Northern Light Venture Capital. But it now has added an additional $7.1m from Susquehanna International Group.
Fast
Online payment platform Fast has raised $20m in a Series A round with the backing of Stripe, Index Ventures and Susa Ventures. The new capital injection came months after Fast raised an earlier investment round in November 2019.
Horangi
Singapore-based cybersecurity company Horangi is looking to expand its reach further into Southeast Asia after raising $20m in its Series B round. Private equity firm Provident Growth led the round. Monk Hill Ventures, Right Click Capital and Genesis Alternative Ventures also participated in the raise.
Coin Metrics
Cryptoasset data and infrastructure platform Coin Metrics is looking to enhance its product suite. The $6m it just filled its coffers with should help with these goals. The investment was backed by Highland Capital Partners, FMR, LLC, Castle Island Ventures, Communitas Capital, Collaborative Fund, Avon Ventures, Raptor Group, Coinbase Ventures and Digital Currency Group.
VoxSmart
Communication monitoring RegTech VoxSmart raised ?5.5m in a funding round from NatWest. The money from the bank will be used by VoxSmart to develop new solutions and reach new markets.
Coterie
InsurTech Coterie has secured $8.5m in its oversubscribed Series A round. It raised money from RPM Ventures, Allos Ventures, Western & Southern, Intercept Ventures, Frontier Venture Capital and Sure Ventures. This new round brings Coterie total equity raised to $11.65m, having previously secured $3.12m in funding.
SecuLetter
Cybersecurity startup SecuLetter has raised another $8m in its Series B round, which pushes the company’s valuation past the $38m mark. The venture has created a solution that detects malicious code attacks.
The capital round comes as an extension to the $6m round close SecuLetter held in November 2019 from backers including Riyadh Valley Company, the Korea Development Bank and Korea Investment Partners.
Enable
Enable, the rebate management platform, has raised $13m in its Series A round. Menlo Ventures, the FinTech venture capital firm that raised a $450m fund in January 2019, led the round. The Enable raise also saw participation from Sierra Ventures.
Alma
French FinTech startup Alma has filled iits coffers with ?12.5m in funding from Idinvest and Isai. The buy now and pay later venture also raised ?17m in debt. The new money will reportedly be used to improve its platform.
Hi Marley
Hi Marley is the company providing a chatbot for the insurance industry. The startup has now netted $8m in a new funding round from nine individual investors, according to a new US Securities and Exchange filing.
CoinDCX
Cryptocurrency exchange CoinDCX has reportedly secured $3m in its Series A funding round which was led by Polychain Capital, Bain Capital Ventures and HDR Group.
Hyperproof
RegTech startup Hyperproof has scored $3m. The company, which has developed a continuous compliance platform, will use the money to boost its marketing and sales activities as well as other parts of its operations. Fifteen unnamed angel investors backed the round.
Pruvo
Rebooking hotels at a more affordable rate might become more affordable after Pruvo? secured $1.1m in its seed funding round. The capital injection was led by Spain SeedRocket 4Founders Capital, with participation also coming from unnamed angels, according to a number of reports in the media.
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