The last two weeks have seen everything from huge $1bn investments rounds to undisclosed seed rounds. Let’s check some of them out.
Despite coronavirus chaos and market uncertainty, the FinTech industry has been busy filling its coffers over the past two weeks. Of course, in some cases, like for Airbnb, the COVID-19 crisis was a key factor for why they raised the capital.
Every segment of the sector, from payments and RegTech to cybersecurity and InsurTech, raised capital across 48 rounds over the period.
It has also been an interesting two weeks for challenger banks around the world. Over the last 14 days, FinTech Global has reported that Japanese Kyash, Danish Lunar and Icelandic digital bank indó have raised more capital.
British incubator and InsurTech investor Insurtech Gateway also had a busy time having supported several rounds on this list.
Let’s take a closer look at 48 of the rounds.
Airbnb collected $1bn to help it ride out the coronavirus crisis
After the travelling industry suffered a terrible beginning of the year due to the coronavirus pandemic, it was only a question of time before Airbnb would be affected. Now in order to ensure its survival through the pandemic, the sharing economy home rental company has raised a new $1bn fund.
Navi Technologies has secured about $394.2m in a new funding round
FinTech company Navi Technologies has closed a $394.2m investment round led by Sachin Bansal, the co-founder of Indian e-commerce giant Flipkart. The round also saw participation from Navi Technologies’ founder Ankit Aggarwal, the former HDFC Bank managing director B. Paresh Suthankar, as well as the founders of NBFC CRIDS.
EVO Payments has brought in another $150m in a new cash injection
Payment technology and service provider EVO Payments has netted $150m in a new capital investment. The PayTech will use the money to continue working on its strategic initiatives during the coronavirus pandemic. The funds were supplied by private equity firm Madison Dearborn Partners, which has been an investor in EVO since 2012.
Accellion nets $120m in funding from private equity firm
Cybersecurity company Accellion has celebrated the closure of a new $120m financing round. It was led by private equity firm Bregal Sagemount. Accellion helps businesses to prevent data breaches and compliance violations from sensitive third-party communications.
RegTech unicorn Collibra collected a $112.5m investment
Having picked up a $1bn valuation in 2019 after its Series E round, data intelligence unicorn Collibra has more than doubled its valuation after closing a new $112.5m funding round. Collibra’s valuation is now at $2.3bn.
The new cash injection saw the return of previous Collibra backers ICONIQ Capital and Index Ventures, which also supported Spendesk’s €35mSeries B round in 2019. The two co-led the round. Other investors participating in the round included new investor Durable Capital Partners as well as contributions came from existing backers Battery Ventures, CapitalG and Dawn Capital.
Privitar has bagged $80m in funding as it looks to continue its rapid growth
Privitar, a data privacy platform, has collected $80m in its Series C round, coming less than a year after it closed its former round. Private equity firm Warburg Pincus led the round, with additional support coming from Accel, Partech, IQ Capital, Salesforce Ventures and ABN AMRO Ventures.
Cloud security platform Cato Networks secured $77m
Cato Networks, a cloud security platform, has closed a $77m funding round led by Lightspeed Venture Partners. Aspect Ventures, Greylock Partners, Singtel Innov8, U.S. Venture Partners and Shlomo Kramer also participated in the raise.
Cybersecurity startup Axonius has closed a $58m Series C funding round
Axonius, the cybersecurity venture, had not been resting on its laurels since closing its $20m Series B round in August 2019. It has revealed that it has locked down $58m in a new Series C investment round.
Axonius was backed by Lightspeed Venture Partners, the venture capital firm that led the round. Existing investors OpenView, Bessemer Venture Partners, YL Ventures, Vertex and WTI also supported the New York-based cybersecurity startup’s latest cash injection.
Paidy bagged $48m in a Series C round extension
Hot on the heels of an investment just months earlier, Paidy has reportedly secured $48m in a Series C round extension. The Japanese point-of-sale financing platform would use the new capital injection to ensure it could balance its finances during the coronavirus outbreak.
Kyash bagged $45m in Series C round
Digital bank Kyash has filled its war chest with $45m in fresh capital. The Japanese digital bank’s Series C round was announced less than a year after it closed its Series B on $14m.
The new capital infusion was co-led by Greenspring Associates and Goodwater Capital. Other contributors were Greyhound Capital, Altos Ventures, Partech Partners, Broadhaven Ventures, Tekton Ventures and DST Global managing partner Rahul Mehta.
SafetyCulture has secured $35.5m
SafetyCulture, the Australian security and compliance tech company, has collected $35.5m in new funding round led by TDM Growth Partners.
The investment round pushes SafetyCulture’s valuation to past the $800,000 mark. The round brings the total capital injected into the scaleup to $92.09m.
Bugcrowd netted $30m in a Series D round
The crowdsourced cybersecurity platform Bugcrowd has filled its coffers with $30m in a Series D round. The company announced the raise as well as having a achieved a 100% year-over-year growth in booking numbers.
Rally Ventures led the round, with additional contributions coming from unnamed new and existing backers. The round puts the company’s total equity raised to more than $80m.
Lively netted $27m in a Series B investment round
Lively, the startup specialising in modernising health savings, has scored $27m in its Series B round. The new capital injection was led by Costanoa Ventures, the investor that also co-led open source management startup FOSSA’s $8.5m Series A round in 2019.
Lively’s new cash injection also saw the participation of Ally Ventures, Liquid 2 Ventures, PJC, Teamworthy Ventures, Streamlined Ventures and Y Combinator.
Xpension has collected €25m in a new Series C round
German InsurTech Xpension has raised €25m in a new Series C round led by growth investor HPE Growth. Existing investors Cinco Capital and Armada Investment also participated in the new capital injection.
Juspay has raised $21.6m in a Series B round
After netting $21.6m in a Series B round, Juspay now planned to boostr R&D efforts, increase its presence in India and pursue global expansion. Bermuda-based venture capital firm Vostok Emerging Finance led the round, which also saw contributions from Wellington Management.
The Danish neobank Lunar locked down €20m in a new funding round
Challenger banks in the Nordics are on the rise. The Danish neobank Lunar is one example. Earlier in April it raised €20m in a new investment round, bringing the total invested into the digital bank to €46m. The bank originally raised €26m in its Series B round in August 2019.
DataGuard has bagged $20m in a new funding round
DataGuard, a privacy and compliance software-as-a-service (SaaS) solution, has bagged $20m in a funding round to support its expansion across Europe and the Americas.
The capital injection was led by One Peak, a UK growth investor. With the fresh funds, DataGuard is looking to continue its growth and expand its customer base across Europe and the Americas.
Okera has raised $15m in a new funding round
Okera, a secure data platform, has secured $15m in a new funding round. It will use the money to expand its engineering, sales and marketing efforts.
The round was led by cybersecurity company ClearSky Security, with other contributions coming from previous Okera backers Bessemer Venture Partners and Felicis Ventures.
Yapily has netted $13m in a Series A round
Backed by Revolut-investor Lakestar, Yapily has secured $13m of new capital in a Series A round. The investment round was also backed by HV Holtzbrinck Ventures and LocalGlobe, both of which supported the company’s $5.4m seed round in 2019.
Neats bagged $11m in a Series A round
Cross-border transaction startup Neats has raised $11m in a series A round led by private investment group Pacific Century Group. Payment giant Visa, insurer MassMutual’s investment arm, holding company Asia Ventures, venture capital firms Linear Capital and private equity firm Sagamore Investments also participated in the raise.
Air Doctor closed a $7.8m Series A round
Travel InsurTech startup Air Doctor has successfully closed its $7.8m Series A round despite the travel insurance industry facing a lot of problems caused by the coronavirus.
Sila raised $7.7m in a seed round
Banking and payments API platform Sila has bagged $7.7m in its seed funding round to support the development of new products. The investment was co-led by Madrona Venture Group and Oregon Venture Fund. Additional support came from Mucker Capital, 99 Tartans, Transferwise co-founder Taavet Kinrikus and angel investor Jerry Neumann.
PatientPay has bagged $6.15m in a round led by Mosaik Partners
PatientPay, the healthcare payments startup, has secured $6.15m in growth financing to enhance its omni-channel patient payments platform. The round was led by Mosaik Partners and an unnamed existing investor.
Recko has locked down $6m in a Series A investment round
Recko, an AI-powered reconciliation of digital transactions service, has scored $6m in a Series A round which was led by Vertex Ventures with participation of Prime Venture Partners. It will use the new cash influx to deepen product development, increase hiring efforts and boosting its presence outside of India.
RoadSync netted $5.7m in Series A round
Payment processing startup RoadSync has topped up its accounts with $5.7m in a new investment round. Base10 Partners, the early-stage investor, led the new cash injection. Hyde Park Venture partners and Companyon Ventures also participated in the raise.
Living Security has bagged $5m in a Series A investment round
Texas-based security awareness software platform Living Security has netted $5m in a Series A round led by Silverton Partners, the early-stage venture capital round.The investor’s general partner Mike Dodd will join the company’s board of directors.
Active Capital, Rain Capital and SaaS Venture Partner also participated in the raise. The startup provides a cybersecurity training programmes which leverage gamified learning techniques to help employees better understand risks.
MixMode has collected $4m in a new funding round
Cybersecurity startup MixMode has secured $4m in in a new cash injection. It will use the new capital to expand its network traffic analytics platform.
Entrada Ventures, the late-seed investor, led the round. Keshif Ventures and Blu Venture Investors also participated in the round.
Cadence Group raised $4m
Cadence Group, a FinTech securitisation platform, has closed a $4m round and launched a new auction system, which is used by US Treasuries and other institutional debt markets. The system enables investors and originators to determine a market-clearing APY desirable to all parties.
Sepio Systems strengthens its finances with $4m investment
Sepio Systems, the rogue device mitigation software operator, has locked down $4m in new capital. The new round was led by Munich Re Ventures, with additional support coming from Hanaco Ventures.
InsurTech CoverFox Insurance has raised $3.9m in a new funding round
Digital insurance broker CoverFox has collected roughly $3.9m in a funding round which values the InsurTech at about $227.1m. The company will use the money to streamline its processes.
Wellpay has raised a $3.8m funding round
Medical bills platform Wellpay has completed a $3.8m funding round. The investment was led by 8vc, Mubadala Capital-Ventures, Montage Ventures, TTCER, and Advisors.fund.
This capital injection helped the FinTech launch earlier than planned, with the company now looking to support the rising demand from patients and providers across America during the current crisis.
JennyLife collected $3.5m in Series A round
InsurTech JennyLife has secured $3.5m in its Series A round, bringing the total investments into the startup to $5m. The life insurance app developer’s new cash injection was led by CMFG Ventures, the venture capital division of CUNA Mutual Group. Other contributions came from unnamed players from the insurance industry.
Lanistar collected £2m to change banking
Alternative digital banking solution provider Lanistar has netted £2m in its seed funding round as it sets its sights on becoming a £1bn company by providing a “polymorphic debit card with a twist,” according to its website. The UK-based FinTech raised the money from private financing and family contributions.
PLUM Lending added $2m to its coffers
PLUM Lending has brought in another $2m of investment in a new cash injection. The new round was backed by Resolute Capital Partners, Soft Bank and Elliott Management. Having closed the round, the company will look to expand its network of financial services, wealth managers and brokers.
InvestSuite completed €2m seed round extension
Automated investment platform InvestSuite has completed a €2m seed extension round. PMV led the new cash injection into the investment startup. Several unnamed angel investors also invested in the round as did management and employees. With the close of the extension, the company has raised a total of €6m in its seed round, which it has been raising since 2018.
phyre strengthen its financials with €1.55m funding round
Bulgarian payments startup phyre has reportedly netted €1.55m in funding backed by Bulgarian American Credit Bank and VC New Vision 3.
Dsdaq has netted $1.5m in an angel round
Dsdaq, the trading app, has closed $1.5m in an angel round led by family investment office Efftronics Asia and venture capital firm DraperDragon.
Stamus Networks closed a $1.5m seed round
Cybersecurity company Stamus Networks has closed a $1.5m seed round co-led by VisionTech Angels and Elevate Ventures. A number of unnamed angel investors also contributed to the round. As part of the deal, VisionTech Angels and Elevate Ventures will has representatives on the Stamus Networks boards.
Mamo Pay has secured $1.5m in a seed round
Digital payment company Mamo Pay has netted $1.5m in its seed round as it gears up for launch. Global Founders Capital led the round. Global Ventures, VentureSouq, MSA Capital, Dubai Angel Investors, 500 Startups and several angel investors also participated in the raise.
honcho returned to crowdfunding to raise £1.2m with the support of institutional investors
UK-based InsurTech venture honcho has netted £1.2m by combining crowdfunding and the backing of established investors such as Insurtech Gateway, Business Durham and the North East Development Capital Fund.
The new round sees the car insurance innovator fill up its tank with an additional £1.2m to fuel the growth of its reverse auction marketplace for financial services. The InsurTech startup has previously raised £735,740 in a crowdfunding campaign in January 2018.
Loadsure collected £1.1m seed round to revolutionise freight cargo insurance
InsurTech Loadsure is leveraging powerful predictive analytics tools to change how freight cargo insurance works. Now, with £1.1m of new seed money in its accounts, it is looking to deliver on-demand spot freight cargo insurance to the US market, enabling brokers, shippers and carriers to cut costs significantly. UK startup incubator and investor Insurtech Gateway led the round alongside a number of corporate and angel investors.
Neosurance has bagged €1.1m in a round
Italian InsurTech startup Neosurance has netted €1.1m in a new capital injection at a pre-money valuation set at around €10m. Net Insurance, Luiss Alumni 4 Growth and a group of investors led by Mezzetti Advisory Group participated in the raise.
Icelandic challenger bank indó secured €1m in a seed round
indó may be from Iceland but that haven’t stopped the challenger bank from brining in some hot new capital in its €1m seed funding round. The company raised the funds across three rounds, with the last one having over 30% excess demands. The round was made up primarily of unnamed angels and private individuals.
Savology has locked down $750,000 in its seed round
The free financial planning provider Savology has done some financial planning of its own by raising $750,000 to its war chest from a group of angel investors such as MassMutual Intermountain West CEO Brady Murray, RevRoad CEO Derrin Hill, The Professional Financial Company founder and CEO Bruce Miller, and Ben Tejes, the Ascend Finace co-founder and CEO.
Bitpanda netted an undisclosed amount
While online crypto trading company Bitpanda did reveal it had raised a new funding round, it kept the amount of the raise hush, hush. Speedinvest led the round. The investor also partnered teamed up with Bitpanda to help it launch the product into France, Turkey and Spain. Bitpanda will look to enter additional markets later in the year.
Finhay has closed a new funding round
Finhay, the Vietnam-based robo-advisor, has secured an undisclosed funding round.
BukuWarung scored a new seed funding round
The Indonesian bookkeeping app BukuWarung has reportedly closed a seed funding round led by East Ventures. AC Ventures, Golden Gate Ventures and Tanglin Venture Partners also participated in the raise. BukuWarung will use the money to strengthen its position in the market and expanding its team, to help deepen its engineering, product, design, growth and partnership initiatives, the articles report.
Samadhan raised undisclosed seed capital round
While India-based Insurance Samadhan has apparently closed a new seed funding round, details about the raise are scarce. But even though it did not disclose the amount raised, we know that Venture Catalysts backed the round and that Samadhan will sue the money to fund the development of its technology and boosting its operations.
Copyright © 2020 FinTech Global
