This week saw the FinTech sector flounder compared to seven days ago, as the space failed to meet the $1bn mark in deals completed.
Despite this drop in incoming capital, on top of seven fewer deals being completed, the sector still had some major investment to write home about. AlphaSense bagged the deal of the week, with a whopping $150m secured in the company’s Series E funding round, as it looks to affirm its position as a preeminent figure in the market intelligence and search domain space.
Joining them in the elusive and exclusive nine-figure club was US PayTech Flex, who is looking to revolutionise SMB finance after completing its $120m Series A debt and equity funding round. As well as Lithuanian RegTech firm, Nord Security, who garnered a $100m investment from Warburg Pincus, as they look to to broaden its product range and fast-track growth via strategic collaborations and acquisitions.
Geographically, the US and the UK reclaimed their positions at the top of the charts. The States secured 13 deals, ahead of the UK’s five to continue their monopolisation of the FinTech deal stats. No other nation secured more than the solitary deal – but there was significant representation globally, as Germany, Singapore, Canada, India, Kenya, Lithuania, and Switzerland all landed a key deal.
In the sector stakes, FinTech bagged a mammoth 12 deals to take half of the capital in. But behind them it was a well fought scrap for the honour of being this week’s bridesmaid. Both WealthTech and CyberTech eventually had to share the spoils, landing four deals each, while RegTech and PayTach only secured two deals each.
Here are this week’s deals:
AlphaSense’s AI-driven market prowess leads to $150m Series E funding
AlphaSense, recognised as a frontrunner in the market intelligence and search domain, has unveiled its latest financial figures.
The company successfully amassed $150m in its Series E funding initiative. The round saw active participation from BOND as the lead investor, with significant contributions from previous backers such as Alphabet’s CapitalG, Viking Global Investors, and Goldman Sachs. Following this round, AlphaSense’s market valuation has surged to an impressive $2.5bn.
Since its inception in 2011, AlphaSense has emerged as a prominent market intelligence and search platform, trusted by the world’s leading companies and financial institutions. By leveraging advanced AI technology, it offers professionals crucial insights gathered from an array of public and private content sources, ranging from equity research and company filings to event transcripts and expert discussions.
Flex bags $120m in debt and equity funding to revolutionise SMB finance
Flex, the innovative financial technology firm, has announced the successful completion of its $120m Series A debt and equity funding round.
The funding comprises a substantial debt financing agreement with CIM to provide up to $100m, while the remaining $20m is in equity capital.
The equity capital injection was spearheaded by Florida Funders, with significant involvement from Home Depot Ventures, MS&AD Ventures, Companyon Ventures, among other participants.
Nord Security strengthens cybersecurity hold with $100m investment
Nord Security, a global leader in internet privacy and security solutions, has secured a $100m investment.
The substantial funding round has come from Warburg Pincus, a premier global growth investor. Other noteworthy participants in this round include Novator Ventures and Burda Principal Investments.
Delving into its operations, Nord Security has transformed how users perceive and interface with digital security. The company offers a comprehensive security tool that shields online traffic, sends out breach alerts, combats malicious software downloads, and provides support in being removed from data broker lists.
Luge Capital’s fund attracts $71m with sights on global FinTech disruption
Luge Capital, an investment firm focused on the FinTech sector in North America, has secured CA$71m in the inaugural close of its Luge Capital Fund II.
The firm’s vision for this fund is to reach the pinnacle of a $100m total size.
The substantial capital accrued in the first close came from a mix of returning heavyweights such as CDPQ, Desjardins, BDC Capital, Sun Life, iA, Fonds de solidarité FTQ and the addition of a fresh participant, Inovia Discovery Fund I.
Bengaluru-based FinTech Bright Money secures $62m
Bright Money, a consumer FinTech firm, has announced a successful closure of its latest funding round, amassing an impressive $62m.
This significant financial boost for the Bengaluru and San Francisco-based enterprise consists of $50m debt from Encina Lender Finance, supplemented by $12m equity investments championed by Alpha Wave, Hummingbird, and Peak XV Partners, according to a report from Entrackr.
Enza Capital closes impressive $58m funding, debuts innovative founder partner programme
Enza Capital, an African-based venture capital firm, has successfully closed a significant amount of $58m spread across two investment funds.
The dynamic venture capital firm announced it had secured an impressive $58m, pooling these funds from an assortment of investors ranging from private individuals, family offices, and foundations, to fund of funds, hedge funds, and other venture capital funds.
Established to revolutionise the startup ecosystem in Africa, Enza Capital’s mission revolves around identifying and supporting category-defining startups in their early stages, primarily those in pre-seed and seed phases.