The 50 hottest FinTech funding rounds last week

Already six weeks deep into 2022, the FinTech sector has recorded strong investment and is showing no signs of slowing down.

There is growing interest in FinTech from large financial organisations, with financial giant Goldman Sachs investing in consumer lending platform Selina Finance in a $150m deal.

A particular area of the financial sector that is seeing widening demand in the blockchain and cryptocurrencies sector, with investment in the industry in 2021 smashing the previous record of $7.6bn set in 2018 with capital invested hitting $32.3bn last year, the same figure as Estonia’s GDP.

Also in cryptocurrency, investment advisor Betterment entered an agreement to acquire cryptocurrency portfolio manager Makara for an undisclosed fee.

A recent report by Chainalysis has found illicit addresses received $14bn in deposits during 2021, which was almost twice the amount they collected in 2020.

Here are the 50 FinTech funding rounds from last week.

WealthTech company FNZ raises colossal $1.4bn

Global wealth management platform FNZ has closed a colossal $1.4bn investment, which brings its valuation to $20bn.

The investment was supplied by Canada Pension Plan Investment Board (CPP) and Motive Partners. Of the total fundraise, CPP has invested $1.1bn.

This investment represents the biggest primary equity raise within the wealth management sector.

Flexport lands $935m for global supply chains

Global logistics platform Flexport raised $935m in a Series E funding round on its mission to boost supply chain resilience and visibility.

The round was led by Andreessen Horowitz and MSD Partners, with participation from new investor Shopify, as well as existing partners DST Global, Founders Fund, Softbank Vision Fund, and other investors including Kevin Kwok.

The company provides global logistics services for air freight, ocean freight, trucking, cargo insurance, customs brokerage and inventory financing. Founded in 2013, Flexport helps businesses to book shipments, communicate with suppliers, reconcile invoices and analyse reports.

With this capital, Flexport said it will accelerate the development of its technology platform for global logistics and continue to expand into new geographies and markets worldwide. The company will also support logistics technology innovation by investing in new startups to make supply chains more efficient, transparent and inclusive.

SageSure secures $375m for property insurance

SageSure has secured a $375m senior credit facility from funds managed by the US Direct Lending and Alternative Credit strategies of Ares Management Corporation.

SageSure writes business on behalf of multiple leading carrier partners, including IAT Insurance Group, FedNat Insurance Company, Independent Mutual Fire, SafePort Insurance Company, and the recently launched SURE (SureChoice Underwriters Reciprocal Exchange). SageSure has previously deployed capital for SafePort and SURE and plans to invest additional capital to support both.

The company said proceeds of the transaction will be used to refinance its existing bank facility and to support strategic growth initiatives.

GoCardless joins expanding unicorn club with $312m Series G

UK FinTech GoCardless has secured its unicorn status after a $312m Series G pushed its valuation up to $2.1bn.

The investment was led by Permira and also saw participation from BlackRock Private Equity Partners. Since its last funding round in December 2020 – when it raised $95m in a Series F round – GoCardless’s valuation has more than doubled, while headcount has swelled by 85%.

According to GoCardless, the funding will allow it to accelerate its growing footprint in the open banking space through new product and geographical expansion as it targets becoming the leading network globally for direct bank payments.

Goldman Sachs backs Selina Finance in $150m funding haul

Consumer lending platform Selina Finance has secured $150m in Series B funding made up of a combination of both equity and debt financing.

The company secured $115m in debt funding from Goldman Sachs and GGC as well as $35m in equity financing led by Lightrock alongside existing investors.

Established in 2019, Selina claims it is the UK’s first Home Equity Line of Credit (HELOC) FinTech. The company allows homeowners to unlock the value in their homes by borrowing against their equity at low interest rates with a flexible line of credit and only paying for the funds they use.

Tokio Marina backs ICEYE for natural catastrophe risks

ICEYE, an expert in natural catastrophe (NatCat) solutions, has received an investment from Tokio Marine Holdings to develop insurance products.

Tokio Marine’s investment forms part of ICEYE’s $136m Series D funding, which it raised earlier this month.

ICEYE and Tokio Marine will collaborate on a series of initiatives designed to facilitate the digital transformation of insurance claims capabilities and develop new insurance products and services to address the increasing frequency and severity of natural catastrophes and the growing impact of climate change.

Philippines’ first digital-only neobank Tonik nets $131m

Philippines-based digital-only neobank Tonik Digital Bank has closed its Series B funding round on $131m.

Mizuho Bank, one of the largest banking groups in Japan and the Asia Pacific, served as the lead investor. Other contributions came from Prosus Ventures, DST Partners co-founder Rahul Mehta, Sixteenth Street Capital and the Indonesian family office Nuri Group.

Existing Tonik backers Sequoia India, Point72 Ventures, Insignia, iGlobe, Alpha JWC, Citius, Blauwpark and Kraft, also joined the round.

With this Series B, the company plans to accelerate the growth of its platform in the Philippines.

France-based Silvr raises €130m

France-based Silvr has raised €130m for its Series A investment round, which will aid its hiring efforts.

Backers to the round include XAnge, Otium, Bpifrance, Eurazeo and ISAI. Qonto co-founders Alexandre Prot and Steve Anavi, Luko co-founder Raphaël Vullierme, Alma co-founder Louis Chatriot and Libeo co-founder Pierre Dutaret also joined the round.

This equity boost will help Silvr bolster its development plans. As part of this, Silvr will hire 100 people across its sales, marketing, products and tech teams.

Alma lands funding for responsible lending mission

French Buy Now, Pay Later (BNPL) startup Alma has closed a $130m Series C round in addition to $109m in debt financing.

According to a report by TechCrunch, Tencent, GR Capital and Roosh Ventures are investing in the startup for the first time. Some of the startup’s existing investors are also investing once again, such as Cathay Innovation, Eurazeo, Bpifrance’s Large Venture fund, Seaya Ventures and Picus Capital.

The funding comes three years after the company’s launch, as it commits to “reinvent the link between merchants and consumers, on a European scale.”

Vivid Money raises $114m

Berlin-based FinTech startup Vivid Money has raised $114m in a Series C round, propelling the company to a valuation of $884m.

The round was led by Greenoaks Capital with the participation of Ribbit Capital and SoftBank Vision Fund 2.

Vivid Money provides a single solution that customers can use for all of their finances, from banking to investing. The company strives to help customers throughout Europe save more and invest intelligently.

The funds will be used to extend Vivid’s investment and banking offerings, focusing on turning Vivid’s ecosystem into a community where customers come to bank, save, invest, learn, and manage all money-related matters. The fundraising will enable a hiring push across the company’s European offices to improve the product, enhance marketing, and build out the application’s educational features.

Qredo hits $460m valuation with $80m raise

Qredo, a developer of digital asset management infrastructure, has closed its Series A on $80m, which puts its valuation at $460m.

Crypto investment firm 10T Holdings served as the lead investor. Other contributions came from Coinbase Ventures, Avalanche, Terra, Ava Labs, SVK Crypto, GMF Capital, Kenetic Capital, Nural Capital First Light, Alumni Ventures Blockchain Fund, Liberty City Ventures and several others.

With the fresh equity, Qredo hopes to complete further acquisitions, enhance its services and expand geographically.

Happy Money joins growing FinTech unicorn club

Happy Money, a platform for unsecured lending in partnership with credit unions, has closed a $50m Series D-1 funding round.

The capital was raised from investors including Anthemis Group and CMFG Ventures and sees the company join the ranks of FinTech unicorns with a pre-money valuation of $1.1bn.

Founded in 2009, Happy Money is a financial technology company on a mission to develop and deliver affordable, accessible financial tools and services that empower people to use money as a tool for their happiness. Members benefit from loans funded by a national network of customer-focused lending partners and designed to help them accomplish their goals.

Shift5 nets $50m Series B

Operational technology security firm Shift5 has secured $50m from a Series B funding round led by Insight Partners.

Founded in 2018, Shift5 provides security for the OT within and used by critical vehicles such as tanks, civilian airlines, locomotives and ships.

The company highlighted the fleets of critical vehicles generate huge amounts of data every day. Shift5’s data-driven solutions integrate directly onto existing platforms, collecting and enriching data from all their electronic components.

Topsail sails away with $50m

Cayman Islands-based reinsurance firm Topsail has raised $50m from existing investors to continue its growth in the region.

Topsail said the additional capital will be used to support its continued growth. The company currently underwrites more than $500m of property and casualty reinsurance business.

Topsail Re was founded in 2018 with a licenses reinsurer domiciled in the Cayman Islands and affiliated services companies based in the US. Led by industry veterans, Topsail said it is committed to providing a stable, long-term platform for its reinsurance partners.

Salt Security seasons growth effort with $40m Series D

API security company Salt Security has secured $40m in its Series D funding round, which was led by CapitalG.

With the close of the investment, the company has reached a $1.4bn valuation.

The investment was also supported by all of Salt Security’s previous investors, including Sequoia Capital, Y Combinator, Tenaya Capital, S Capital VC, Advent International, Alkeon Capital and DFJ Growth.

Funds from the round will help Salt Security bolster its R&D efforts, grow sales and marketing and increase its international operations.

ThinkMarkets secures $40m funding

Brokerage firm ThinkMarkets has raised $40m from a growth capital funding package that included a $10m pre-IPO convertible equity investment a $30m senior secured debt facility.

The pre-IPO convertible equity investment was supported by Regal Funds Management, while the debt facility was provided by Mars Growth, a Liquidity Group and MUFG joint venture fund.

The funding will enable rapid growth across existing and new business initiatives in 2022.

Student banking app Mos lands $40m in Series B

Student banking solution Mos has raised $40m from a Series B funding round headed by Tiger Global.

The round also saw participation from returning investors Lux Capital, Expa, Emerson Collective, Sequoia and Khaled Helioui. Following this raise, Mos has a valuation of $400m.

Founded in 2017, Mos claims it is on a mission to tear down financial barriers to opportunity. The firm said that it built the first banking product designed not to manage student debt, but to eliminate it.

Seyna lands €33m for the future of insurance

Paris-based insurer Seyna has raised €33m in a Series A round led by WhiteStar Capital and Elaia Capital.

Seyna’s current investors Global Founders Capital, Allianz and Financière St James also participated in the round. The deal is currently pending approval by the French supervisor, ACPR.

The company said the capital will accelerate its mission to “build the insurance platform that helps humanity take risks and move forward.”

Treasury management platform Vitesse PSP scores $26m

Vitesse PSP, a global payment and treasury management platform, has scored $26m in its Series B funding round.

Prime Ventures led the round, with commitments also coming from Octopus Ventures, Hannover Digital Investments and HDI Group. Multiple angel investors also contributed to the round, including former Worldpay CEO Ron Kalifa and Mollie CEO Shane Happach.

With the capital burst, the company expects to further its global expansion initiatives across Europe and the US. It also plans to invest into its product offering and customer service.

LoanStreet sweeps up Series B

LoanStreet, which streamlines the process of sharing, managing and analysing loans for credit unions, banks and direct lenders, has closed its Series B on $25m.

Portage Ventures served as the lead investor, with commitments also coming from Curql Fund I, SilverCircle, Coastal Financial Corporation, Sterling Bancorp, Third Prime Capital and Arbor Ventures.

With the capital, the company plans to accelerate the adoption of its platform, extend the capabilities of its tools and develop a next-generation commercial loan servicing solution.

Neobank Rewire to add insurance offering with $25m raise

Israel-based neobank Rewire, which provides services for expatriate workers, has raised a $25m strategic investment that it said will allow it to develop insurance products.

According to a report by Crowdfund Insider, Israeli insurance company Migdal participated in the round along with Standard Bank of South Africa, BNP Paribas, Moneta Capital Partners, Renegade Partners, Opera Tech Ventures, Viola Fintech, OurCrown, Yehuda Zisapel, former Yahoo CEO Jerry Yang, and a group of unnamed angel investors.

Vulnerability remediator Vicarius lands $24m Series A

Vulnerability remediation platform Vicarius has scored $24m from a Series A financing raise led by AllegisCyber Capital, JVP and AlleyCorp.

Founded in 2016, Vicarius protects clients against exploitation of yet-to-be-discovered software vulnerabilities.

The company has developed Topia, which enables companies to predict, prioritise and protect against software vulnerabilities before they can be exploited by hackers. The platform identifies vulnerabilities within clients’ digital environments using a proprietary binary code analysis methodology. From here, these vulnerabilities are prioritised, building a live threat map of the organisation’s infrastructure, using asset context analysis.

According to Vicarius, it will use the new capital to expand its engineering operations, sales and support teams.

Thndr raises $20m Series A

Egypt-based investment platform Thndr has raised $20m in a Series A round to expand its presence across the MENA region.

The round was co-led by Tiger Global, BECO Capital and Prosus Ventures, in addition to participation from Base Capital, firstminute and existing investors Endure Capital, 4DX Ventures, Raba Partnerships and JIMCO.

Thdnr has positioned itself as the pioneer of commission free investment in Egypt. The company said it is transforming the traditionally outdated, slow, and non-user-friendly process of opening and managing investment accounts in the region. The company said it is also making it easy to invest in stocks, bonds, and funds in the region through its mobile-based and low-commission digital stock brokerage.

The capital will go toward product development in addition to expanding its presence across MENA, Thndr said.

Crypto payment software OpenNode bags $20m

OpenNode, which aims simplify bitcoin payments and payouts, has bagged $20m in its oversubscribed Series A funding round.This investment values the company at $220m.

Kingsway served as the lead investor, with commitments also coming from Twitter, Tim Draper and Avon Ventures.

With the capital, the company plans to bolster its position in the market by upgrading its bitcoin and lightning network payment infrastructure. In the coming weeks, the company will announce new partnerships, product features and clients.

Newton Crypto bags $20m Series B funding

Canadian cryptocurrency trading platform Newton Crypto has raised $20m from a financing raise led by DV Chain.

Also taking part in the round were CI Financial Corp, Singh Capital Partners, Tiny Capital, Snowdevil Capital and Anthony Pompliano. Following this round, Newton has a valuation of approximately $200m.

Newton remarked that it will use the proceeds from the round to further develop its technology, platform and infrastructure, attract new talent in all areas of the company, grow its marketing and distribution channels to enhance user acquisition and for general working capital purposes.

UAE-based digital wallet Hubpay nets $20m

Hubpay, a digital money wallet, has scored $20m in its Series A funding round, which was led by Signal Peak Ventures.

The investment was also backed by Olive Tree Capital, BECO Capital, Stormbreaker, Emkan Capital and Aditum.

With the capital, Hubpay plans to expand its team and international presence, particularly in Asia and Africa. It currently has offices in Dubai, London and Karachi.

Climate-focused InsurTech kWh Analytics raises $20m

kWh Analytics, which supports insurance for the climate, has received $20m in funding to support its expansion efforts.

The capital will help the company is looking to develop new tools to support its solar, wind and storage asset owners and investors.

Funds will also be used to reach new international markets and revolutionise underwriting and pricing within the renewable energy insurance space by leveraging world data.

Anti-fraud company Sardine hooks Series A

Fraud and compliance platform Sardine has closed its Series A funding round on $19.5m to hire more staff.

Backing came from Andreessen Horowitz, NYCA and Experian Ventures who committed capital to the investment round.

With the funds, the FinTech firm plans to further its product development and hire more staff.

Calamu lands $16.5m investment to fuel expansion

Calamu, a company that is building technology to help firms recover from ransomware attacks, has bagged $16.5m in funding.

The financing round was led by Insight Partners and saw participation from existing seed investor Dell Technologies Capital. To date, Calamu has raised a total of $20m since its inception.

Calamu has developed Calamu Protect, a data protection technology that turns data into valueless fragments and scatters them to multiple storage locations automatically. The firm claims it will use the funding to accelerate team expansion and further evolve the product platform.

FloodFlash closes Series A to bolster flood insurance

FloodFlash, the parametric insurance technology company that pays catastrophic flood claims within 48 hours, has raised $15m in Series A funding.

The round was led by Chicago-based Buoyant Ventures with San Francisco-based fund Munich Re Ventures also featuring as an investor. Sony Financial Ventures/Global Brain, MS&AD Ventures and PropTech1 all participated in the round alongside existing investors Pentech, Local Globe and Insurtech Gateway.

FloodFlash offers a unique coverage that combines computer models, cloud software and connected technology to provide flood cover to those the insurance industry has left behind.

The company plans to use the investment and capacity to fuel international expansion and begin closing the $58bn flood protection gap, as well as target markets include the US, Germany, Australia, and Japan.

InsurTech startup Insify snaps up $15m Series A

End-to-end digital insurance platform Insify has closed its Series A funding round on €15m as it seeks to expand across Europe.

Accel served as the lead investor, with commitments also coming from Visionaries Club, Frontline Ventures and Fly Ventures. Several unnamed angel investors also committed capital to the round.

With the capital, the company plans to hire more staff and expand into new markets across Europe.

Blockchain FinTech Pyypl nets $11m from Series A raise

Pyypl, a blockchain technology-based company that provides digital payments and financial services, has raised $11m from a Series A round.

The firm saw funding from a diverse group of international family offices and HWNI’s. The firm also has bases in central Asia and Africa.

Founded in 2017, Pyypl connects any smartphone owner into the formal financial system and works immediately, and it can be used anywhere, anytime.

Retail investing startup Midas bags $11m

Midas, a retail investing startup that gives access to US and Turkish equities in Turkey, has raised $11m in equity funding.

The fundraise, which comes just 8 months after the company’s inception, was led by Spark Capital and Earlybird Digital East Fund, with Nigel Morris, Revo Capital also participating. This is one of the largest FinTech seed investments to date in Turkey.

The company previously raised $1m in a seed round that took place in March 2021, led by Deniz Ventures.

Neo.Tax collects $10m in Series A funding

Tax automation platform Neo.Tax has scored $10m for its Series A funding round, which was led by Infinity Ventures.

Capital also came from Google Ventures, Acrew Capital and Fin Venture Capital. Existing Neo.Tax investors Uncork Capital, Floodgate, Liquid 2 Ventures, and Lux Capital also joined the round.

With the capital, the FinTech company plans to hire more product, data and engineering staff.

CyberTech company Binalyze nets $10m

Binalyze, an enterprise forensics platform that arms clients against cyber threats, has bagged $10m in its seed funding round.

European venture capital firm OpenOcean led the round. Commitments to the round also came from Earlybird Digital East, which led Binalyze’s pre-seed round in 2021.

Funds from the round will help Binalyze expand in the US, Europe and other key markets. Capital will be used to enhance its forensic solutions as well as extend its capabilities to enhance coverage in cloud and container environments.

Retail investing app Streetbeat scores $10m seed funding

Free investing and trading app Streetbeat has collected $10m in its seed funding round, which was led by TTV Capital.

Other commitments to the round came from Seraph Group and AAF Management.

Streetbeat is on a mission to create a marketplace of trading strategies that provides users with personalised lists of recommendations based on their interests and risk profiles. It combines online trading with robo-advice that leverage advanced data-driven trading strategies that are vetted by professionals.

Brick cements $8.5m seed financing

Brick, a company that builds APIs for FinTechs and consumer tech firms, has raised $8.5m in seed funding.

The round was led by Flourish Ventures and Antler and also saw participation from Better Tomorrow Ventures, Rally Cap Ventures, Sima Gandhi, Yan Wu, Brain Ma, Ooi Hsu Ken, Amrish Rau and Andrea Baronchelli.

Brick builds APIs for FinTechs and tech firms. The company claims these APIs make it easy for popular FinTech platforms to offer payment, credit investment and insurance products to their consumers by connecting those platforms with hyper-local sources.

Lending company Fintern scores £8m

Fintern, which is making loans more affordable, has raised £8m in a capital injection to support its international expansion.

This fresh equity will help Fintern bolster its presence in the UK, hire more staff and launch its first B2B partnerships. Hambro Perks, an international private investment firm, acted as the lead investor. Contributions also came from Varengold Bank and other high-net-worth individuals.

Fintern’s goal is to make it easier for people to access affordable credit.

Tiger Global backs NFT-focused RareCircles in $7.5m seed

RareCircles, a platform for building non-fungible token (NFT) memberships, has raised $7.5m from a seed funding round led by Tiger Global.

There was participation from White Star Capital, Alpaca, Hashed, Global Founders Capital, Crew Capital and Detroit Venture Partners. Also taking part were Packy McCormick, Joe McCann, Austin Rief, Mike Dudas, Julien Smith and Greg Isenberg.

RareCircles claims it is building a launchpad into the decentralised economy that is dedicated to those creating NFT membership experiences. The company is looking to simplify the process for minting and monetising NFTs and its solution offers a wide set of tools for customised a personalised experience powered blockchain.

Allure Security closes seed funding for its CyberTech services

Allure Security, an online brand abuse detection and protection solution, has closed its seed funding round on $6.8m.

Gutbrain Ventures served as the lead investor, with commitments also coming from PBJ Capital, Impellent Ventures, Glasswing Ventures, Zetta Venture Partners and Portage Partners.

Proceeds from the round will be used to accelerate its go-to-market activities, hire more staff and further product innovations.

Cyber firm Titaniam bags $6m seed financing

Data protection and privacy company Titaniam has secured $6m from a seed funding round led by Refinery Ventures.

The round also saw participation from Fusion Fund, Shasta Ventures and a range of unnamed individual investors.

Founded in 2019, California-based Titaniam claims it seeks to square the circle between data protection and data usability. The new funding will be used to support an aggressive sales expansion as well as further product innovations.

Canonic Security secures $6m from seed

Canonic Security has secured $6m from a seed funding round as the company arises from a period of stealth.

Canonic claims its app governance platform has sandboxed tens of thousands of apps across industries including healthcare, defence and software organizations. The Canonic platform also seeks to eliminate the inherent contradiction between composability and cybersecurity.

Canonic claims it will use the funding to accelerate the product’s go-to-market and development initiatives, which are already used in over twenty deployments worldwide.

DeepSurface scoops up $4.5m in seed funding

DeepSurface, an automated risk analysis and prioritisation company, has netted $4.5m in its seed funding round.

Differential Ventures, a venture capital firm focused on AI and cybersecurity solutions, led the round. Contributions to the round also came from Osage Venture Partners, Ginossar Ventures and Peninsula Ventures.

The company is planning to grow in Portland, Oregon, including hiring more staff in its product development, sales, engineering and customer success teams.

Payroll-linked bill payment service Highline closes seed

Payroll-linked bill payment platform Highline has closed its seed funding round on $4.5m. Foundation Capital and Costanoa Ventures served as the lead investors.

Highline’s mission is to help Americans take control of their finances based on their income and not their credit score. Through the linking of bill payments to their payroll, it claims more people can pay their bills on time and in full. Doing so unlocks better credit rates and reduces unnecessary fees.

Funds from this seed round will help Highline hire more staff and enhance its platform.

Philippines-based Peddlr scores $4.1m seed

Peddlr, a Philippines-based inventory and business financial management startup, has scored P215m ($4.1m) in seed funding.

Patamar Capital and Crestone Venture Capital co-led the round, with commitments also coming from Foxmont Capital Partners, Kaya Founders, January Capital, 500 Southeast Asia, Nordstar, Vulpes Ventures, KDV Capital and 335 Fund.

With the capital, the company hopes it can accelerate user growth so it can help one million micro and small businesses by the end of the year. It also hopes to speed up the release of new app features and digital products that would help its users.

Percayso gains £3.4m funding

Insurance data intelligence provider Percayso Inform (Percayso) has raised £3.4m in a round led by Manchester-based venture capital investor Praetura Ventures.

Launched in the UK insurance market in 2019, Percayso’s data and intelligence hub ingests and adds value to a vast array of powerful datasets to provide insurance intelligence services to insurers, brokers and MGAs in personal and commercial lines.

Percayso’s technology aggregates data from many different sources, allowing intelligence to be accessed with a simple API call at significant volume. The InsurTech said this empowers insurance providers to use its platform to intuitively build, adapt and optimise their own data enrichment, rating and intelligence strategies.

UK challenger bank Bank North ends crowdfunding on £2.2m

Bank North, a UK-based challenger bank, has closed its latest crowdfunding campaign on £2.2m, surging past its initial target of £1.3m.

Its crowdfunding campaign, which was held via Crowdcube, received support from 953 investors. In total, the challenger bank issued 3.29% of its equity to the investors.

Bank North raised the money at a £65.4m pre-money valuation, with shares priced a £0.25 apiece.

The company was founded in 2018 and received its banking license in August 2021. It was built on the vision for the best SME lending bank in the UK and capitalise on the £150bn SME lending market. Its focus is on loans between £500,000 and £5m.

Pay Theory bags $2m seed

Pay Theory, which claims to build financially inclusive payments for families, has bagged $2m in its seed funding round.

Zeal Capital Partners served as the lead investor, with commitments also coming from SixThirty, Ohio Impact Fund, Gaingels and Sica Ventures. The round was also backed by existing investors Double Eagle Venture Partners, LOUD Capital and a series of angel investors.

Proceeds from the round will be used for product development and talent acquisition. It is particularly interested in hiring sales, finance and software development professionals.

SIFI scores pre-seed funding

SIFI, a Saudi Arabia-based FinTech company, has closed its pre-seed round on an undisclosed amount.

Khwarizmi Ventures served as the lead investor, with commitments also coming from Breyer Capital and unnamed angel backers.

Founded in 2021 by Ahmed AlHakbani, SIFI helps companies of all sizes to improve their expense management. Users can leverage both physical and virtual cards, with each having the ability to set individual spending limits. Its features also include the ability to easily manage expenses, quickly submit forms, set up recurring payments, conduct international money transfers and more.

Crypto loan platform Pledge raises capital

Pledge, which claims to be a leading marketplace for financial NFTs, has received an investment from US-based investor Gianfranco Filice, through his angel fund AKA Angel.

The FinTech company, which is headquartered in California, enables crypto holders and investors to take fixed-rate loans from the Pledge ecosystem without needing to sell their portfolio.

Its platform creates an NFT to represent each loan, bond, insurance or other asset.

CyberTech solution ControlMap closes seed

ControlMap, an end-to-end cybersecurity compliance platform, has closed its seed round which was led by Top Down Ventures.

ControlMap has built an end-to-end cybersecurity compliance solution that empowers managed service providers (MSPs) to offer compliance-as-a-service to customers. Its out-of-box compliance solution supports over 25 regulations, including SOC 2, ISO 27001, CMMC, and FedRAMP.

The technology can adapt to support any cybersecurity standard around the world, it claims.

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