This week saw $1.86bn raised across 43 funding rounds, with two unicorns joining the industry, Indian neobank Open and Canadian FinTech Neo Financial.
The US dominated the highest value deals, with five of the top 10 deals coming from US-based companies. Among them was digital commercial real estate transactions platform Lev with $170m, home equity platform Point with $115m and Buy Now, Pay Later (BNPL) healthcare startup Walnut with $110m.
The industry also welcomed two members to the billion-dollar club. Indian neobank Open reportedly became the 100th unicorn in India, after it closed a Series D round led by IIFL. Canadian FinTech Neo Financial also reached the milestone after the closed of a $185m Series C round.
Here are the 43 rounds from this week.
Neo Financial joins unicorn club after $185m round.
Canadian FinTech Neo Financial, has reached the $1bn valuation milestone, after the close of its Series C round on $185m.
Valar Ventures led the round, with contributions also coming from Tribe Capital, Altos Ventures, Maple VC, Blank Ventures, Gaingels, and Knollwood Investment Advisory.
In addition to the fundraise, a secondary share sale was offered, allowing early investors and employees to sell a portion of their shares to new investors.
Neo Financial claims it is one of the fastest Canadian companies to reach one million customers and unicorn status.
Founded in 2019, the FinTech company was built to challenge the status quo of financial services. It offers a selection of services to help customers with spending, saving, investing and rewards. It originally launched a no-fee Mastercard that gives an average of 4-6% cashback at partners and 1% cashback on all spend.
The company has formed partnerships with Hudson’s Bay, Home Depot, H&R Block, Boston Pizza, Goodfood, and 7,000 other national and local retailers, helping them upgrade their loyalty and financial service offerings.
The company has expanded beyond its loyalty cards and into buy now, pay later services, point of sale instalment financing and subscription-based loyalty services for online and brick and mortar retailers.
With this round close, the FinTech company has raised a total of $299m in funding. The company previously raised $64m in its Series B funding round in September 2021.
Alan bags €183m
Alan, a French health insurance provider that describes itself as an all-in-one wellness provider, has raised €183m in Series E funding.
Teacher’s Venture Growth (TVG), an arm of the Ontario Teacher’s Pension Plan Board, led the round. Also participating was Temasek, Index, Coatue, Ribbit Capital, Exor, Dragoneer and Lakestar.
The round brings the company to a total valuation of €2.7bn.
Alan now has over 300,000 members, with 15,000 corporate clients primarily in the tech, hospitality and retail sectors.
Since 2016, the company’s mission has been to make a personalised, preventive and global health experience accessible to everyone on a daily basis. “We strive to be the most focused healthcare company on the needs of its members. This fundraising brings us a little closer to our mission: to build the health partner of all Europeans,” Alan said.
The company said that 60% of French people decide not to go to the doctor because it was not available or too expensive. Moreover, 82% people would like a better organised healthcare system, 1 in 6 people suffer from a chronic illness, yet EU countries spend only 3% of their health budget on prevention.
Lev collects $170m
Lev, a digital commercial real estate transactions platform, has collected $170m in a mixture of debt and equity.
The equity injection comprised of a $70m Series B round led by Parker89 and Cross River Digital Ventures. Other participants include NFX, Canaan, JLL Spark, Animo Ventures, Capital One Ventures, Citi Ventures and Citi SPRINT, StepStone Group and Blitzscaling Ventures.
The remaining $100m came through a debt financing round from Cross River’s Strategic Direct Lending Group.
These funds will enable Lev to enhance its product offering, hire more staff across all departments and bolster its research and development efforts.
Lev claims to be transforming the CRE industry’s manual lending process with a sleek digital experience. Its technology offers loan seekers with instant access to customised financing based on their needs.
The company closed just under $1bn in CRE mortgages, growing ten-times year-over-year. With the close of this funding round, Lev has raised a total of $200m.
Turtlemint raises $120m
Mumbai-based InsurTech startup Turtlemint, has raised $120m in a Series E funding round led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners.
The round also saw participation from new investors Vitruvian Partners and Marshall Wace, along with the company’s other existing investors, bringing the total funding raised to date to $197m.
Reports suggest the round brought Turtlemint closer to unicorn status, now valued at $900m.
Founded in 2015, Turtlemint strives to make it easy to understand and buy insurance. The company’s intent is to demystify insurance by explaining the jargon in a simple way and providing smart tools to help users make the right choice.
The InsurTech has a team of insurance advisors available on chat, phone and in-person to help users with purchase and claim services. The company currently offers car insurance, bike insurance, health insurance and term life insurance.
Point pulls in $115m
Point, a FinTech and home equity platform that provided homeowners access to equity finance in exchange for a fractional share of the future value of their homes, has raised $115m in Series C funding.
The round was led by WestCap, with participation from other existing investors Andreessen Horowitz, Ribbit Capital, Redwood Trust, Atalaya Capital Management, and DAG Ventures. New investors include Deer Park Road Management, The Palisades Group, and Alpaca VC.
Point said its aim is to make home wealth more valuable for everyone. With its flagship Home Equity Investment product (HEI), homeowners can unlock up to $500,000 with no monthly payments, no income requirements. In exchange for this access, homeowners share a piece of their future home price appreciation with investors.
The company said the funding will allow it to scale its home equity platform while extending its execution and distribution advantages. The capital will also allow it to further invest in new products beyond its flagship HEI product and expand beyond its current presence.
Xepelin lands $111m
Xepelin, a payment platform and business financial services for small to medium sized enterprises (SMEs) in Latin America, has raised $111m in Series B funding.
The round was led by Avenir and Kaszek, with the participation of PayPal Ventures, Wellington, DST Global, Battery Ventures , MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena, Gunderson, Carlos GarcÃa Otatti, Cathay-Seaya Latam and Gilgamesh, among others.
This round of financing comes less than a year after the company’s Series A and, according to Xepelin, it is the largest in the history of a Chilean startup.
Xepelin said it is leading the business digital transformation by scaling the existing payment infrastructure and creating a platform for SMEs at a regional level.
The company provides small and medium-sized companies with real time financial information and integrates financial services with different data models that reduce the time normally taken by the complicated financial processes, which Xepelin said allows SME teams and owners to focus on running their business, rather than trying to figure out finances.
Walnut nets $110m in Series A
Buy Now, Pay Later (BNPL) healthcare startup Walnut has raised $110m in a Series A funding round led by Gradient Ventures.
The round saw participation from new and existing investors including Newark Ventures, Afore Capital, 2048 Ventures, CityRock Ventures, AngelList, Weekend Fund, Company Ventures, Banana Capital, Goodwater Capital, and Muse Capital. Founders and executives from Teachable, Clearbit, and Afterpay also participated.
The round is composed of $10m in equity financing and $100m in debt financing; the debt portion of the round was provided by Clear Haven Capital.
Founded 18 months ago, Walnut’s mission is to increase access to affordable healthcare in the US. The company does this though a transparent FinTech product that it said helps patients afford care whenever they incur out-of-pocket costs by enabling them to spread costs over time, without fees or interest.
Walnut said the round will allow it to double down on its mission by expanding its product and team to new geographies and specialties within healthcare.
Bessemer backs Teleport in Series C round
Teleport, an identity-based infrastructure access management platform for engineers, has pulled in $110m from a Series C funding round.
The round was led by Bessemer Venture Partners and saw participation from Kleiner Perkins, Insight Partners and S28 Capital. This latest funding round values the company at $1.1bn.
Founded in 2015, Teleport offers companies secure access to their critical infrastructure through connectivity, authentication, authorisation and audit, ensuring that the right people are able to secure access to the right systems at the right time, in any place.
Teleport said it has seen its customer base almost double and revenue triple last year.
Tailscale nets $100m
Tailscale, a corporate VPN that helps remote teams securely access services they need, has netted $100m in its Series B funding round, which was led by CRV and Insight Partners.
Other commitments also came from Accel, Heavybit, Uncork Capital, and prominent individual investors.
With the funds, the company plans to hire engineering talent and expand its product-led growth. The company also hopes to scale its go-to-market and strategic partner initiatives.
Founded in 2019, Tailscale makes private networking connectivity fast, effortless and seamless while allowing security teams to rest easy with end-to-end encryption, no single point of failure.
The platform integrates with existing identity services, including Google Workspace, Microsoft 365, and Okta, offerings seamless authentication and delivers an all-in-one zero trust solution for secure access service edge, identity and access management and privileged access management.
The company has experienced a 1,200% year-over-year growth and continues to sustain 20% growth quarter over quarter in active monthly users, primarily due to organic word-of-mouth, it said.
The CyberTech company previously raised $12m in its Series A funding round, which was led by Accel.
Sentry scores $90m
Sentry, a developer-first application monitoring solution, has scored $90m for its Series E round, which puts its valuation at $3bn.
BOND and Accel co-led the round, with participation also coming from New Enterprise Associates and K5 Global.
With the funds, the company plans to pursue its product development efforts, boost its hiring efforts and expand across Europe. To support this growth, it will open a new hub in Europe and accelerate the growth of its go-to-market teams.
The CyberTech company claims to be reshaping application performance monitoring by directly addressing the developer experience gap. Its services empower developers to fix problems in production code by using one tool to monitor for errors, performance and health across mobile, desktop and IoT.
With the close of the round, the company has raised a total of $217m in funding.
kevin. lands $65m
Lithuanian FinTech startup kevin. has raised $65m for its Series A funding round, which comes six months after its $10m seed round.
The newest capital injection was led by Accel, with contributions also coming from Eurazeo. All of kevin.’s existing investors, including OTB Ventures, Speedinvest, OpenOcean, and Global Paytech Ventures, joined the round.
Several angel investors also supplied capital to the Series A, including 20VC founder Harry Stebbings, Supercell CEO and co-founder Ilkka Paananen and former Venmo CEO Amitabh Jhawar. With the funds, the company is looking to expand its international team and develop new products.
Founded in 2018, kevin. aims to build an innovative and convenient payment solution that removes unnecessary intermediaries in the payment process. Its API-based payment infrastructure lets companies accept payments directly from a bank.
The FinTech company previously raised $10m in its seed funding round in November 2021. Since then, kevin. has grown its team to over 170 employees, spread across 30 countries. It plans to double its team by 2023.
Traceable AI collects $60m
CyberTech startup Traceable AI has reportedly collected $60m in its Series B funding round, which was led by IVP and brings its post-money valuation to $450m.
Other commitments to the round came from BIG Labs, Unusual Ventures, Tiger Global Management and a selection of unnamed angel backers, according to a report from TechCrunch.
This capital injection will be used for product development, hiring more staff and customer acquisition.
Traceable AI is a CyberTech startup that lets clients discover, manage and secure all their APIs.
It works by collecting API traffic across an entire application landscape and leverage its advanced context-based behavioural analytics AI engine to see all APIs and the data they expose. Through tis it can block known and unknown attacks and provide threat analytics and forensics. The technology can integrate with existing infrastructure.
Earlier this week, industrial and financial juggernaut Sabanci acquired CyberTech company Radiflow in a $45m deal. The company provides cybersecurity solutions for critical infrastructure networks.
Digit Insurance raises $54.6m
Indian InsurTech unicorn Digit Insurance has reportedly raised INR 417 crore ($54.6m) in fresh funding, which brings its valuation to $4bn.
The round was led by Sequoia Capital and India Infoline, according to a report from Entrackr. The report claims Sequoia supplied INR 269 crore (34m) to the funding round.
Digit Insurance raised a $70m funding round back in January 2022, with commitments coming from Wellington Hadley Harbor and Ithan Creek Master Investors. The InsurTech company became a unicorn in early 2021, after a $18.5m investment put its valuation at $1.9bn.
Digit is a digital insurance firm that enables consumers to buy vehicle, travel, property, flight delay, health, mobile, holiday home and shop insurance. The India-headquartered company lets uses purchase policies, make renewals or complete claims through their mobile devices.
Open, a digital bank, recently became the 100th unicorn in India. The company’s Series D was backed by IIFL, Tiger Global, Temasek and 3one4 Capital.
Lumos exits stealth with $30m
Lumos is a new compliance and identity management solution that has launched from stealth along with a $30m funding round.
The company was backed by Andreesen Horowitz, Neo, Lachy Groom, Google Cloud CISO Phil Venables, OpenAI CTO Greg Brockman and more.
Lumos is on a mission to build the AppStore for companies, replacing an IT ticket with a self-service portal for employees to select the apps and permissions needed. Through its platform, a company can detect project, role and employee changes and initiate an access review process to remove licences where needed.
As more companies leverage SaaS apps for their jobs, there is a greater security risk. Lumos co-founder Andrej Safundzic explained the with every app used by employees, the company inches closer to a disaster dubbed the ‘APPocalypse’.
This APPocalypse comes with the risk of IT tickets, compliance breaches, high SaaS license costs, insider threats and risk of compromised employee accounts.
Amderdata scores $30m Series B
Amberdata, a provider of digital asset data, has scored $30m in its Series B funding round.
The round was led by Knollwood Investment Advisory, with commitments also coming from Susquehanna International Group, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase and Innovius.
Existing Amberdata investors also joined the round, including Citi, Franklin Templeton, Aspenwood Ventures, Rovida Kruptos Assets and Boldstart Ventures.
Following the close of the round, the company hopes to bolster product innovation and expand go-to-market in the US and internationally. The company plans to expand its DeFi depth and coverage, develop asset indices and market intelligence and risk analytics.
The FinTech company supplies financial institutions with data and insights into blockchain networks, crypto markets and decentralised finance.
Amberdata claims to be the only digital asset provider offering granular historical and real-time fundamental, DeFi and market data. It removes the need to source and integrate data from multiple investors.
ShiftLeft scores $29m
Automated application security testing company ShiftLeft has scored $29m in funding to accelerate the development of its product.
Cybersecurity-focused investment firm SYN Ventures and Blackstone Innovation Investments backed the round. Other unnamed backers also committed capital.
With the funds, the company plans to bolster its product development to incorporate cloud native architectures. It hopes this can expand its potential customer footprint and allow it to provide application security solutions for organisations running Kubernetes and other container-based application architectures.
It will also increase its marketing and sales efforts and has named SYN managing partner Jay Leek as a member on its board of directors. As part of its expansion efforts, the company is looking to hire staff across all of its departments.
ShiftLeft is an AppSec platform that aims to bring developers and security together. Its CORE solution analyses the application as a whole and mimics how attackers would try to break into the application, rather than analysing individual application components in isolation.
This investment comes after a strong period of growth for ShiftLeft, which includes earning a 97% gross retention rate and a 143% net retention rate, it said.
The CyberTech company previously raised $20m in its Series B back in 2019. It was supported by Thomvest Ventures, Bain Capital Ventures and Mayfield.
Scalapay raises $27m
Buy now, pay later provider Scalapay has scored $27m in a Series B extension round led by Poste Italiane, Italy’s largest service infrastructure network.
This investment was an extension to its $497m Series B, which closed back in February 2022. Tencent and Willoughby Capital led the round, with contributions also coming from Tiger Global, Gangwal, Moore Capital, Deimos and Fasanara Capital.
The initial Series B round had brought Scalapay into the unicorn club.
With the funds, Scalapay plans to expand its team, bolster its product development efforts, and bolster its brand. It also hopes to grow its executive team and company board.
Based in Italy, Scalapay is a payment solution for e-commerce merchants around the world that allows customers to buy products and pay for them at a later date. Payment options are to pay in three installments, four instalments or in its entirety after 14 days.
The BNPL platform has raised a total of $727m in funding.
AutoRABIT secures $26m
AutoRABIT, a salesforce DevSecOps company, has raised $26m in a Series B funding round led by Full In Partners.
Following this recent raise, AutoRABIT has now raised more than $50m since the company was founded.
Founded in 2015, AutoRABIT claims it provides DevSecOps tools built specifically for Salesforce developers to increase release velocity, produce consistently high-quality code, and enhance data security.
The firm said it is the only DevSecOps provider that allows users to work off the Salesforce platform, protecting them from outages and vulnerabilities experienced by those working directly within Salesforce.
According to AutoRABIT, it plans to use the new funding for product development and growth initiatives.
Line pulls in $25m
Line, a company building a modern inclusive financial network, has raised $25m in Equity and Debt, in a funding round led by Massive.
The round also saw participation from TASC Ventures, along with a group of BIPOC investors, social impact funds, and women-led funding like Goodwater Capital, SustainVC, Avesta Fund, Strada Education Network, The Josephine Collective, Overtime VC, Techstars and Kelmhurst. They were joined by angel investors Alex Haro, chief technology officer of MyMoneyKarma; John Kim, CEO of Sendbird; Chris Nguyen, co-founder of LogDNA; Soups Ranjan, CEO of Sardine; and Ethan Austin.
Line is a Public Benefit Corporation on a mission to deliver unprecedented access to financial services with uncompromising quality and without restrictions like income type, income level or credit history.
Line said the funding will go towards gorwing its team and expanding its service. The round follows its previous $2m round.
Concerto closes $21m round
Concerto, which was created to power credit card partnerships that enhance user and product experiences, has launched its new platform alongside the close of a $21m funding round.
Matrix Partners served as the lead investor to the round, with commitments also coming from PayPal Ventures and GoldenTree Asset Management.
Alongside the investment, GoldenTree formed a joint venture with Concerto that will fund a minimum of $2bn in credit card receivables.
Concerto has launched a new card issuing and loyalty platform. It has launched with several loyalty programs for several baseball teams that will bring fans closer to the game, it said. Fans that chose team-issued cards can gain access to game tickets, merchandise, memorabilia and exclusive experiences.
Its cloud-based platform and API-centric approach also dramatically accelerates the development and deployment of large, customised partner programs.
The Concerto platform was created to support the creation and management of co-branded credit card programs. It launched with initial partners, including Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds professional baseball teams.
Possible Finance bags $20m
Possible Finance, a FinTech that claims to offer life-changing financial services for underserved consumers, has bagged $20m in equity.
The company has also hired key executives and launched new credit card and cash advance products Possible Card and Possible Cash.
This capital injection was backed by Union Square Ventures, Canvas Ventures, Unlock Venture Partners and Euclidean Capital, a first-time backer.
Possible Finance’s flagship product Possible Loan is a short-term, small-dollar instalment loan designed to help American adults that struggle to access affordable credit and fall victim to predatory lending practices, which Possible Finance states is one in three.
Its lending service is available in 21 states and has distributed over 1.65 million loans since 2019.
Its new Possible Card is not a traditional credit card with interest charges or penalty fees. Instead, it is built to protect members from mounting debt and improve their long-term financial habits. The card is allegedly the only unsecured credit card in the market with no interest or late fees and has a flat monthly fee.
No credit score check is needed for the card, instead the company uses a cash-flow credit risk technology to assess the customer.
Fleet pulls in $20m
Fleet, an endpoint visibility technology vendor, has pulled in $20m from a Series A funding round led by venture capital firm CRV.
Also participating in the round were a number of unnamed cybersecurity executives. Following this raise, Fleet has raised a total of $25m and has an overall valuation of $100m.
According to Security Week, Fleet is building an open-source software platform to help firms manage and secure employee laptops, cloud servers across multiple operating systems.
The firm said its platform has enrolled more than 1.65 million devices at organisations that include Uber, Heroku, Dropbox, Square, Wayfair, Gusto, Ernst & Young and Schrödinger.
The company also mentioned that the new funding provides a runway for the company to build and sell its platform in a very competitive marketplace.
Accern closes $20m Series B
Accern, a NoCode NLP platform for financial services, has closed a $20m Series B round.
The round was co-led by Mighty Capital and Fusion Fund, alongside Tribe Capital, Viaduct Ventures, Shasta Ventures and Gaingels.
Accern said its NoCode NLP platform empowers domain experts and business analysts to extract the most accurate insights from massive streams of unstructured data, such as news, social media, industry reports and internal documents, within minutes. Accern offers pre-built AI/ML/NLP solutions to minimize time to value and maximize ROI for equity research, credit risk, M&A activity, ESG performance, insurance claims, fraud prevention, sanctions monitoring and more.
Kumesh Aroomoogan, co-founder and CEO of Accern, said that the funding will allow the company to scale sales and marketing.
Symmetrical.ai scores $18.5m
Poland-based global payroll platform Symmetrical.ai has scored $18.5m in a funding round.
The round was led by Target Global, with commitments also coming from Global Founders Capital, Finch Capital, Partech, Market One Capital and Inovo.
With the Series A funding, the FinTech company plans to expand into new European markets and the US. It also hopes to release new services to franchises and enterprise clients.
Symmetrical.ai is also looking to hire more staff and enhance its single layer global API technology.
Founded in 2019, Symmetrical.ai claims to be the first global provider of headless payroll technology that supports unparalleled automation of payroll processes through flexible API-first technology. Through this, clients can scale and optimise their overall payroll costs, it said.
Over the past nine months, the company has multiplied its revenues by 23-times and is processing 47 customers across the UK, Spain and Poland.
Kaleidofin rakes in $15m Series B
Indian neobank Kaleidofin has concluded the second tranche of its $15m Series B equity round that was led by the Michael and Susan Dell Foundation.
The round also included participation from the Bill & Melinda Gates Foundation’s Strategic Investment Fund as well as angel investors and existing investors. Earlier this year, Kaleidofin raked in $10m from the first part of the Series B.
Founded in 2017, Kaleidofin is a FinTech company that aims to help underbanked customers meet their financial goals by providing tailored financial solutions.
The company offers goal-based savings accounts and payment service, machine learning-based credit checks for consumer loans and a platform for lending and debt capital markets use cases. The business claims it has over one million active customers across India currently.
DRUID scores $15m
DRUID, an end-to-end platform for chatbots, has scored $15m in funding to support its international expansion efforts.
The company is hiring more staff to support its growth across Europe and North America. DRUID is also looking to release new capabilities to its conversational AI solution and improve the user experience.
As part of its growth plans, the company is opening offices in France and Germany by the end of the year and increase its team size by 60%.
Karma Ventures and Hoxton Ventures served as the lead investors to the round, with commitments also coming from existing DRUID backer GapMinder. Investments also came from unnamed investors from Germany, Switzerland, Poland, and Romania.
Romania-based DRUID was created to capitalise on the digital transformation initiatives businesses have.
Its AI-driven conversational business applications allow businesses to enhance the user experience for customers and employees. It provides enterprises with conversational capabilities and supports intuitive, natural and frictionless digital interactions.
DRUID claims it was the first company to give voice to RPA robots, adding conversational skills to the hyper automation platform. The company continues to integrate with RPA technology providers, with a network of over 130 partners.
The company builds chatbots for the insurance and banking industries. A bank can use the chatbot to provide customers with finance tips, streamline onboarding, automate marketing and improve customer support. Similarly, insurers can use the app to improve customer engagement, improve underwriting and streamline claims.
Network Perception bags $13m
Network Perception, a firm that specialises in securing operational technology assets with network segmentation verification and visualisation, has bagged $13m in a Series A.
The funding round was led by The Westly Group and saw participation from Energy Impact Partners, Serra Ventures, Energy Foundry, Okapi Venture Capital and SaaS Venture Capital. Following this raise, Network has now raised a total of $15.7m.
Network claims its NP-View platform, which was originally created by a government-funded research team, is designed to help organisations verify network segmentation and identify network vulnerabilities.
The firm claims its platform is used by utilities for network access security to help them achieve compliance and strengthen cyber resilience.
Network will use the funding to expand its commercial activities, expand into new markets, and accelerate go-to-market growth.
Sensible Weather pulls in $12m
Sensible Weather, a climate risk technology company, has raised $12m in Series A funding.
The round was led by San Francisco-based Infinity Ventures with participation from Certares Ventures, Derive Ventures, and existing investors Wonder Ventures and Group1001. The capital brings the company’s total funding to over $20m.
Founded in 2019 by climate scientist Nick Cavanaugh, Sensible Weather said it is de-risking weather for travellers and travel partners.
Since its official launch early this year, Sensible said it has sold thousands of Weather Guarantees via its roster of hospitality and outdoor recreation partners. Consumers purchase Weather Guarantee protection when booking travel reservations and ticketed attractions online and if a weather event, such as rain, is forecasted to occur during the covered experience, Sensible automatically sends a reimbursement. Guarantee payments are processed immediately, based on the number of hours the experience is negatively impacted by weather.
Sensible Weather said the funding will allow it to grow its pool of top engineering and scientific talent, accelerate development of its proprietary climate data and risk analytics platform, and expand its Weather Guarantee offering into international markets.
Hubble Technology raises $9m
Virginia-based Hubble Technology has raised $9m in venture capital funding that was led by Paladin Capital Group.
The company also received investment from other venture capital companies including Accel and Crowdstrike’s Falcon Fund.
Hubble claims it is building a technology intelligence platform that will be capable of providing end-to-end visibility of corporate assets and tools to help defenders reduce and manage business risk.
According to Parker, the new funding will be used to expand its engineering operations and scale the business to support the company’s global ambitions.
Better agency lands $8m
Better Agency, an agency success platform for insurance agents, has raised $8m in a Series A round.
The round was led by Teamworthy Ventures, with additional participation from ManchesterStory Group. The capital brings Better Agency’s total funding to over $10m.
Better Agency describes itself as an agency success platform that uses automation to help insurance agents sell more policies, retain more customers at renewal and handle the service and claims processes inside an agency.
Better Agency said the new capital will allow it to develop a new industry category, while tripling down on its growth, and expanding its platform capabilities to meet its vision as the first agency success platform for insurance agents.
FutureProof Technologies bags $6.5m
FutureProof Technologies, a climate-orientated property & casualty (P&C) InsurTech, has raised $6.5m in capital.
The round was led by AXIS Digital Ventures with participation from prior investors Innovation Endeavors and MS&AD Ventures. The funding brings FutureProof’s total capital raised to nearly $10m.
FutreProof Technologies is a team of insurance industry veterans, data scientists, economists and climate scientists. Using artificial intelligence techniques, FutureProof predicts wind and flood losses using a range of predictors.
The company said the funding will enable it to add top underwriting, portfolio risk management, and engineering talent at it gears up to launch its digital MGA later this year.
Getlife lands $6.3m
Getlife, a Madrid-based InsurTech startup, has raised $6.3m in a seed funding round led by French VC Singular.
Getlife’s mission is to “protect what matters most”, by offering fair and modern insurance products to families, and shake up a billion-euro sector.
The company’s offering is 100% online and requires no medical exams. Customers can get a quote in 180 seconds.
According to a report by TechCrunch, several business angels also participated, such as Gokul Dhringa and Chris Adelsbach. The company had previously raised a €1m pre-seed round.
In a LinkedIn announcement of the round, Getlife said the round will help it meets its ambitious goals, including making insurance accessible to everyone, becoming a life insurance leader in Europe and open in new countries, in addition to recruiting new talent.
Januar nets €6m
Januar, a company building a crypto gate for European firms, has raised €6m in a seed funding round that is the largest in Danish history.
The round was led by Element Ventures and also saw participation from Angular Vetures, Outward VC and byFounders. A number of angel investors also contributed to the round.
Januar claims it is the European payment gate for crypto companies. The company stated it is on a mission to support a more open and collaborative financial system based on decentralised technology by offering fiat-to-crypto rails as a service.
The company claims the proceeds from the seed round will be used to help the firm become the “leading one-stop crypto gate for European businesses”.
Masa Finance collects $3.5m
Masa Finance, a hybrid credit protocol that links traditional financial accounts and assets to crypto holdings to provide a credit report, has come out of stealth and closed a pre-seed funding round of $3.5m.
The round saw participation from Unshackled Ventures, executives from GoldenTree Asset Management, Flori Ventures, GSR, Decentranet, Intersect VC, Lateral Capital, Peer VC, Alves Ventures, and several angel investors in the FinTech/blockchain space including Louis Beryl Gustavo Menezes, and Jacob Riglin; a high-profile NFT artist who will be launching future NFT-collateralised loan products.
Masa has developed infrastructure for Web3 that enables on-chain credit scoring. By aggregating off-chain and on-chain data into a non-fungible credit report, Masa said it gives lenders and developers easy access to the tools needed to evaluate borrower risk and launch lending products for individuals and businesses globally.
Works receives bridge round
Mexico-based HR software and payroll platform Worky has received a bridge round investment from ARC Group Ventures.
Founded in 2018, Worky allows employers to offer benefits by providing an end-to-end enterprise-grade platform to automate employee files, PTO management, recruiting, evaluations, payroll, employee benefits and more.
Works’ CEO Maya Dadoo said, “The software automates and analyzes human resources management and reduces turnover by 30%, improving hiring times, reassignment, incentives and costs.”
The FinTech company has raised a total of $3m in funding from QED Investors and LEAP Global Partners.
Paytic secures $2.95m
Canada-based Paytic, which claims to be a smarter way to manage card programs, has reportedly raised $2.95m.
The funding round was led by Build Ventures, an investment firm that backs early-stage companies across Atlantic Canada, according to a report from BetaKit.
Commitments also came from Island Capital Partners, Concrete Ventures and Outlierz Ventures.
Capital from the round, Paytic hopes to hire more staff and expand its customer base across North America, the UK and Africa.
The company, which was founded in 2020, offers program management solutions to help banks, credit unions and FinTech companies manage chargebacks, fraud, KYC and CDD reconciliation, AML and more.
It claims to have created the first purpose-built SaaS platform that centralises and automates the back-office process of payments management to enable seamless, efficient and cost-effective operations.
Last month, fellow Canadian FinTech company OneVest bagged $3.8m in a funding round to support the growth of its team. The company offers digital wealth management services that can be embedded in consumer-facing products via APIs.
SaaScada pulls in £2.5m
UK-based core banking platform provider SaaScada has pulled in £2.5m in seed funding as it looks to accelerate growth.
The company secured the funding from over ten investors, including several figures from the banking and private investment sectors.
According to SaaScada, its cloud native platform allows FinTechs and challenger banks to introduce new features and products in minutes instead of months at a lower cost than traditional modular core banking platforms.
The company claims it offers a ‘highly agile’ core-banking engine that allows financial institutions to create and launch innovative banking services at speed and scale. It added that it is lowering the barrier to entry for a wide range of financial institutions, enabling them to offer banking products at a lower cost and with less complexity.
SaaScada claims it will use this new round of funding to build on the momentum it has already created, accelerate growth and expand the company’s footprint in the banking sector.
Enduring Planet scores $5m
Enduring Planet, a FinTech firm aimed at funding climate entrepreneurs, has reportedly raised $5m in a mixture of debt and equity.
The round comprised of $2.4m in equity and $2.6m in debt, according to a report from TechCrunch.
The company’s investors include Climate Capital, Common Sense Fund, KD Venture Partners, Keiki Capital, Portland Seed Fund and Susquehanna Foundation.
Enduring Planet offers growth capital to companies that are involved in addressing the climate crisis. The company claims a company can apply in under ten minutes. Enduring Planet co-founder and CEO Dimitry Gershenson told TechCrunch, “When the world’s on fire, it’s pretty important that we move quickly and not take six months to underwrite a deal,”
The company delivers checks up to $500,000 in under 30 days.
TechCrunch claims Enduring Planet takes a portion of a company’s monthly revenue – up to 7% – as well as an origination fee.
Earlier in the week, fellow environment-focused investment firm Keewe closed €1.25m in funding
Bluezone bags £1.5m
Bluezone, an InsurTech reinventing life insurance for people with chronic illnesses, has raised £1.5m in seed funding.
The round was led by Insurtech Gateway and AV8 Ventures. Oxford Capital, Portfolio Ventures and impactful angel investors including former CEO of AXA, chief transformation Officer Aegon Group, former chairman of NHS England and a leading FinTech angel also participated in the round.
Bluezone is set to launch its first Type 2 diabetes life insurance product. The company said it is going to improve the health of millions of lives, by understanding adverse health event risks and delivering proactive healthcare.
The InsurTech said the prevalence of chronic health conditions is skyrocketing with 1 in 2 people suffering from a condition globally. Traditional underwriting processes are outdated, manual and cumbersome making it difficult for individuals with these chronic conditions to access affordable insurance, Bluezone added.
Keewe gets €1.25m capital injection
France-based Keewe, which claims to decarbonise businesses, has reportedly raised €1.25m in funding.
The capital came from “selected business angels”, such as former BNP Paribas head of trading Guillaume Amblard, Smart Lenders Asset Management partner Jérôme Camblain and many others, according to a report from Crowdfund Insider.
With the funds, the company is looking to boost its commercial deployment and finish its ecological transition product.
Keewe lets a business process their international financial transactions and generate planet dividends. These can be used to trigger the ecological transition and earn cashback on payments.
The company aims to reduce carbon footprints through foreign exchange transactions, it said. Furthermore, the company claims to have over 80 clients and helped offset 4,000 tons of CO2.
Nossa Data raises £1.2m
Nossa Data, a FinTech startup that is helping corporates streamline their ESG reporting, has raised £1.2m in a seed funding round.
The round was led by Symvan Capital and BGF. Nossa Data also said the round brought in prominent angel investors as well as follow-on funding from SFC Capital and Techstars.
Nossa Data said its software offers companies everything they need to streamline their ESG disclosure in a single place. The benefits include template reporting to the top ESG frameworks including SASB Standards and TCFD, benchmarking of a company’s ESG performance versus its peers, detailed workflow optimisation for peer collaboration and AI insights.
The FinTech said the funding will allow it to continue to develop its ESG reporting software and improve customer experience and efficiencies.
Open joins unicorn club
Indian neobank Open has reportedly become the 100th unicorn in India, after it closed a Series D.
The funding round was led by IIFL, with commitments also coming from Tiger Global, Temasek and 3one4 Capital, according to a report from TechCrunch.
While the sum of the funding round was not disclosed, TechCrunch reports it closed on $50m. These new products are revenue-based financing Flo, early settlement card offering Settl and working capital lending Capital.
Its plans are to release $1bn in lending through the new products over the course of a year.
Open, which is now valued at $1bn, is now looking to release three new products.
The FinTech company previously raised $100m in a funding round in October 2021, which had put its valuation at $500m.
Open offers business banking services, including a Visa card. Its platform is designed to combine banking, payments, accounting, payroll, expense management, taxes and more.
Its services are allegedly used by two million companies across India.
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