UK bags largest deal as overall total surpasses $1bn in this week’s FinTech funding rounds

December 15, 2023

The FinTech sector returned to prosperous form with a large week in the FinTech funding rounds, as the overall capital raised surpassed the $1bn mark.

Spread over 25 deals, this week was busy for FinTech investment across the globe, with three deals exceeding the highly-credible 9 digit mark, leading to a grand total of $1,072bn being brought in.

Surprisingly, it was the UK doing most of the heavy-lifting, landing two out of the top three largest deals, with SumUp and Liberis respectively. The USA couldn’t even take up their customary spot at the top of the total deals chart – with the UK snatching that from their grasp too, with five deals, ahead of the Americans with four.

Behind arguably the two global hubs of FinTech, there was a plethora of nations battling it out in a remarkably diverse week for the space.

Heading that charge was Mexico, bagging two deals, the highlight of which was Kapital’s incredible $165m boost that is hoped will revolutionise SME financial services. Behind the top three, there were a further nine countries that secured deals this week; France (2), Germany (2), UAE (2), Saudi Arabia (2), Israel (2), India (1), Nigeria (1), Japan (1), Singapore (1).

On the sector front, the FinTech space continued its monopolisation of the top of the charts, landing a superb 14 deals. Behind it, RegTech ruled, landing a respectable four deals of its own, with PayTech just behind with three.

There was also room for investment into the CyberTech (2), WealthTech (1), and PropTech (1) sectors respectively. However, surprisingly, the InsurTech realm failed to secure a deal this week.

Here are this week’s FinTech funding rounds:

SumUp secures €285m in growth funding for expanding payment solutions

SumUp, a global financial services company, has recently secured a significant investment, marking a new chapter in its journey.

The firm, known for its commitment to empowering small merchants, has raised €285m in a funding round, according to a report from IBS Intelligence. This round was spearheaded by Sixth Street Growth, and saw contributions from Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group.

The substantial investment SumUp has received will be directed towards expanding the company’s global presence.

Kapital secures $165m boost to revolutionise SME financial services

Kapital, a dynamic global bank and tech platform, has announced a significant financial raise, securing a total of $165 million in funding.

This includes a substantial $40 million Series B equity financing and a notable $125 million debt raise. Leading the charge in this oversubscribed Series B round was Tribe Capital, with notable participation from Cervin Ventures, Tru Arrow, MS&AD Ventures, and Alumni Ventures, among others.

Liberis raises $112m in strategic funding to scale up in Europe and North America

Liberis, a trailblazer in embedded business finance, has recently made headlines by securing a substantial $112m in debt financing.

This significant financial boost comes courtesy of HSBC Innovation Banking and BCI Capital, marking a major step forward in the company’s expansion strategy.

The funding will primarily be channelled towards expanding Liberis’s reach in North America and Europe, with new market entries planned for Canada, Poland, and Germany.

Scalable Capital secures €60m growth financing, led by Balderton Capital

Scalable Capital, a prominent digital investment platform in Europe, has successfully closed a €60m equity financing round.

This latest series E extension, led by renowned European venture capital firm Balderton Capital, marks a pivotal moment for the company. The round also saw participation from HV Capital’s new growth fund and several existing investors, reflecting their strong belief in Scalable Capital’s vision and future.

The funds raised in this round are set to propel Scalable Capital’s mission to democratise investing.

Pontera bags $60m to revolutionise the retirement landscape

Pontera, a company dedicated to revolutionising the retirement landscape, has recently announced a substantial $60m capital injection.

The round was led by ICONIQ Growth and also saw additional participation from esteemed investors such as Blumberg Capital, Collaborative Fund, Hanaco Ventures, Lightspeed Venture Partners, and The Founders Kitchen.

This latest injection propels Pontera’s total investment to an impressive $160m, marking a significant milestone in its journey.

LatAm FinTech Solvento gains $50m to improve trucking payment software

Solvento, has secured a significant $50m debt facility from Lendable, as it launches its automated invoice auditing solution.

This achievement is coupled with an oversubscribed equity round, prominently led by Quona Capital. The funding round saw active participation from notable investors like Dynamo Ventures, Ironspring Ventures, Proeza Ventures, and Zenda VC.

Marking a new chapter, Solvento unveiled Solvento Audita, an AI-driven software crafted to revolutionize the accounts payable process within the on-the-road freight industry.

Splitit partners with Motive for a transformative $50m growth investment

Splitit, an innovative white-label, fully-embedded payments technology that lets customers pay in installments using their existing cards, has successfully secured the first $25m of a substantial $50m growth commitment from funds advised by Motive Partners.

This investment marks a pivotal moment for Splitit, following the overwhelming shareholder approval for its strategic decisions including the voluntary delisting from ASX and the redomicile from Israel to the Cayman Islands.

Andalusia Labs’ $48m Series A fuels expansion and new Abu Dhabi HQ

Andalusia Labs, a blockchain security solutions firm, has raised $48 million in a Series A funding round, achieving a valuation of $1 billion.

This significant financial milestone coincides with the company’s strategic decision to establish its global headquarters in Abu Dhabi’s Financial Center, Abu Dhabi Global Markets. This move reflects Andalusia Labs’ commitment to global expansion and recognises Abu Dhabi as a key financial hub for digital assets, offering a nurturing environment for innovation and growth.

India’s Aye Finance raises $37m in Series F round

Aye Finance, an Indian startup specializing in digital lending to small businesses, has raised $37.18m in an all-equity Series F round.

This round was spearheaded by British International Investment, according to a report from TechCrunch. The funding round also saw participation from Waterfield Fund of Funds and existing investor A91 Partners, bringing Aye Finance’s total fundraising to nearly $200m.

Lendo secures $28m in Series B funding for Shariah-compliant crowdfunding

Lendo, a Saudi Arabia-based FinTech company specialising in Shariah-compliant debt crowdfunding, has successfully secured a substantial Series B funding of SAR 105m ($28 million).

This funding round was spearheaded by Sanabil Investments, a firm wholly owned by the Public Investment Fund, according to a report from Wamda. Notably, the round also saw significant contributions from Shorooq Partners, AB Ventures, and various other investors.

The essence of Lendo’s operations lies in its innovative approach to debt crowdfunding. The platform uniquely caters to the pre-financing of outstanding invoices for businesses in Saudi Arabia, creating a symbiotic ecosystem for creditworthy borrowers and sophisticated investors.

Identity security leader Opal Security clinches $22m in latest funding

Opal Security, a leading name in next-generation identity security and access management, has raised $22m in a funding round.

The company has successfully secured a $22 million Series B funding round. This investment was led by Battery Ventures, accompanied by notable contributions from existing investors Greylock and Box Group. Opal Security’s cumulative funding now stands impressively at $32 million.

Simply Homes raises $22m to tackle US housing affordability

Simply Homes, an innovative Single Family Rental (SFR) sourcing and underwriting platform, has raised $22m in funding.

This financial boost, led by Gutter Capital and Watchung Capital, also saw contributions from Village Global, Ambush Capital, RavenOne Ventures, and several individual investors, including Neil Parikh, Gabe Flateman, and Luke Sherwin.

Simply Homes aims to alleviate housing issues by optimising the acquisition, renovation, and leasing of otherwise unused housing, making it accessible to lower-income families.

Israeli startup Zero Networks boosts network security with $20m Series B

Zero Networks, an Israeli cybersecurity startup, has recently raised $20 million in a Series B investment round.

This significant investment follows a remarkable five-fold increase in the company’s revenue, elevating its total raised capital to $45 million. The funding was led by U.S. Venture Partners (USVP), with the participation of Dmitri Alperovitch, co-founder and former CTO of CrowdStrike.

Other notable contributors include existing investors Venrock, F2 Venture Capital, and Pico Venture Partners. The newly acquired funds are earmarked for the expansion of Zero Networks’ development, marketing, and sales teams, to support its ongoing hypergrowth.

01Fintech injects $20m into Validus to bolster SME financing in SEA

01Fintech, a growth stage private equity firm specialising in financial technology across Southeast Asia, has announced a significant $20m investment in Validus.

The investment into the leading SME supply-chain financing platform operating in Indonesia, Singapore, Thailand, and Vietnam, is set to accelerate its its expansion in high-growth markets like Indonesia, bolstering technological innovations, and cementing its position as the leading market player in supply chain financing.

Guardz secures $18m Series A funding to bolster cybersecurity for SMEs

Guardz, a cybersecurity innovator known for its unique approach to protecting small businesses, has successfully raised $18 million in a Series A funding round.

The round was led by Glilot+, the early growth fund of Glilot Capital Partners, and saw participation from existing investors Hanaco Ventures, iAngels, and GKFF Ventures. They were joined by new investors ClearSky. This achievement comes on the heels of Guardz’s initial $10m seed funding, totaling their funding to date at $28m.

ProvenRun raises €15m in Series A funding for IoT security expansion

ProvenRun, a cybersecurity software company known for its advanced operating systems and applications for connected vehicles and smart devices, has completed a successful €15m Series A fundraising round.

This substantial investment was led by Tikehau Capital, a renowned global alternative asset manager, through its latest edition of Brienne, a flagship private equity cybersecurity strategy.

Notably, this funding round also includes participation from the French Ministry of Defence’s Definvest fund, managed by Bpifrance. This diverse group of investors underscores the strategic importance and potential of ProvenRun in the cybersecurity landscape.

European banks rally behind Meniga with €15m investment

Meniga, a personal finance management solutions firm, has announced it has secured €15m in Series D investment.

The company, known for delivering exceptional services to some of the world’s largest banks and financial institutions, has successfully raised €15 million in a Series D funding round.

According to Financial IT, this latest funding round was led by major European banks including Groupe BPCE and Crédito Agrícola, alongside the prominent Icelandic VC group, Omega ehf. This investment has brought Meniga’s total funding to an impressive €55 million to date.

Adevinta Ventures backs French FinTech Aria in $14m Series A

Adevinta Ventures, the investment arm of leading classifieds group Adevinta, has invested in French FinTech firm Aria in a bid to help them build on their embedded digital B2B payment infrastructure.

The successful round brought in €14m, and also featured considerable support from 3books Capital, Ankaa Ventures, Otium Capital and angel investors.

Founded in 2019 in Paris by co-founders Clément Carrier and Vincent Folny, the company has become a household name in the SaaS and B2B service industry.

Saudi FinTech innovator Nearpay secures $14m in Series A funding

Nearpay, a Saudi FinTech startup specialising in payment infrastructure as a service, has achieved a milestone of raising $14m funding.

The company recently announced the successful closure of a $14 million Series A funding round. This crucial financial backing was led by Sanabil Investments, a subsidiary of the Public Investment Fund (“PIF”).

Notably, the round also saw contributions from stc’s Corporate Investment Fund (CIF), Vision Ventures, Hala Ventures, and Arzan Ventures. This investment marks a significant leap forward for Nearpay, underscoring its influence in reshaping the payment landscape.

Japan’s Yoii secures $5.5M Series A led by Emellience Partners

Yoii Inc., a Tokyo-based FinTech company, has recently concluded its Series A funding round, securing approximately $5.5m.

The firm, which is spearheaded by CEO Masaharu Uno, secured the capital injection in a round led by Emellience Partners.

It also featured vital support from key contributors like Itochu Technology Ventures and FFG Venture Business Partners, along with five other existing investors.

Pave Bank debuts with a $5.2m funding boost

Pave Bank, a trailblazer in the realm of programmable banking, has launched with a $5.2m in funding.

The round was led by 468 Capital, with participation from other esteemed investors including Quona Capital, FT Partners, BR Capital, w3.fund, Daedalus, and several angel investors. This investment marks a significant milestone in Pave Bank’s mission to revolutionise the banking sector.

New York’s Xeol bolsters cybersecurity with $3.2m seed funding

Xeol, the cybersecurity startup based in New York City, has secured $3.2 million in a seed funding round.

This financial boost was led by Shield Capital, with notable contributions from Y Combinator and 468 Capital.

The capital raised marks a significant endorsement of Xeol’s vision and capabilities in the cybersecurity domain. The company has carved a niche for itself by focusing on protecting enterprises’ end-of-life software, a critical area often overlooked in the broader cybersecurity landscape.

African FinTech startup Bujeti raises $2m for enhancing spend management solutions

Bujeti, an African FinTech startup, has successfully raised $2m in seed funding. The company, known for its innovative approach to handling corporate finances, received this significant capital injection from a group of prestigious investors, including Y Combinator, the lead investor.

Additionally, Entrée Capital, Voltron Capital, Unpopular VC, Kima Ventures, Dropbox co-founder Arash Ferdowsi, Alan Rutledge, Tristan Walker from Heirloom VC, and Mono CEO Abdul Hassan contributed to the round, according to a report from TechCrunch.

Financial wellbeing platform Paynest raises €2m in seed round

Paynest, a one-stop-shop financial well-being platform for employees, has recently achieved a significant milestone of €2m seed funding.

This funding was led by Lince Capital, accompanied by notable participation from BlueCrow Capital, TechTree CTT managed by Iberis Capital, and M4 Ventures managed by C2 Capital.

Paynest stands out as a holistic solution for employees’ financial health. It offers a range of financial products and services, including personalised articles on personal finance management and access to qualified coaches for confidential, individualised support.

AI startup Jenesys AI raises $1.1m for B2B accounting breakthrough

Jenesys AI, a trailblazer in B2B invoice management and payments, has pulled in new funding in its $1.1 million pre-seed investment raise.

The 12-month-old startup’s valuation remains undisclosed, pending a $500k extension in negotiation with additional investors.

The funding is a major boost for the company’s innovative software, which is redefining AI’s role in financial back-office operations in the global $580bn accounting market.

AuditOne secures €800k for Web3 security services expansion

AuditOne, a Cologne-based start-up specializing in smart contract security, has successfully raised over €800k in a seed financing round.

Leading this investment drive was High-Tech Gründerfonds (HTGF), Europe’s prominent seed investor, alongside notable business angels Florian von Bodman and Sebastian Herzog. This funding is a testament to the trust and confidence investors have in AuditOne’s vision and capabilities.

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