FinTech sector comes roaring back with 33 deals

The FinTech sector saw a big climb on last weeks deals, with FinTech Global reporting on a total of 33 deals across the industry.

The leading deal this week was secured by Pipe, a capital platform that provides dilution-free funding, who raked in an impressive $100m credit facility. In total, $647.3m was raised across all rounds.

Here are this week’s deals.

Pipe secures $100m from Victory Park Capital

Pipe, the modern capital platform known for fast, frictionless, and dilution-free funding, has successfully secured a $100m credit facility from Victory Park Capital (VPC), a global alternative investment firm with a focus on private credit.

The new credit facility, which has potential future expansion up to $200m, is set to enhance Pipe’s innovative financial services.

Pipe operates as a transformative platform that turns varied revenue streams into immediate working capital. This approach enables businesses to improve cash flow and foster growth without diluting ownership. The new funding from VPC will be instrumental in scaling Pipe’s operations and reaching more entrepreneurs and business owners in need of non-dilutive financing options.

Fibe bags $90m in Series E round

Indian FinTech Fibe, a leader in the consumer lending segment, has successfully raised $90m in a Series E funding round.

The investment was led by TR Capital, Trifecta Capital, and Amara Partners, with participation from existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures, and Chiratae Ventures.

Fibe, previously known as EarlySalary, specialises in personal and impact loans, including healthcare, edtech, and insurance financing. The company recently launched India’s first numberless co-branded credit card and focuses on lending technology and risk management systems to offer lower credit costs to consumers.

Cyberhaven secures $88m in Series C

Cyberhaven, a leader in the field of data detection and response (DDR), has successfully raised $88m in its Series C funding round.

The round was prominently led by Adams Street Partners, LLC and Khosla Ventures, with substantial contributions from previous backers including Redpoint Ventures, Costanoa Ventures, Vertex Ventures, Crane Venture Partners, and Wing Venture Capital.

Noteworthy security experts such as Amol Kulkarni, Gerhard Eschelbeck, and Ash Devata also invested in this round.

The investment underscores a standout year for Cyberhaven, highlighted by a 200% increase in new bookings.

Plenti secures $60m funding

Plenti Group Limited, a FinTech company specialising in providing innovative financing solutions, has announced the launch of its HEUF discounted green loans.

The company has secured up to $60m in funding from the Clean Energy Finance Corporation (CEFC), the inaugural financier for the Federal Government’s $1bn Household Energy Upgrades Fund (HEUF). This landmark programme aims to reduce the cost of clean energy technologies, improve household sustainability, and lower energy costs for eligible customers.

Plenti, known for its expertise in managing government funding programmes, will use this investment to support consumers in lowering their power bills and reducing their carbon footprint by offering lower-cost finance.

Cloud-based finance leader AccountsIQ secures €60m

AccountsIQ, a prominent player in the cloud-based accounting software arena, has successfully closed a €60m Series C funding round.

This marks a significant step forward for AccountsIQ as it seeks to expand its influence and capabilities within the financial management sector.

The funds are earmarked for the continuous development of AccountsIQ’s innovative product suite. With a focus on harnessing advancements in artificial intelligence (AI), the investment aims to transform how finance functions operate, making them more efficient and future-ready.

AccountsIQ offers a comprehensive Financial Management System (FMS) provided as a Software-as-a-Service (SaaS). 

Posh AI secures over $45m to enhance AI tools

Posh AI, a pioneering firm in the development of generative and conversational AI for financial services, has successfully raised over $45m in its latest investment round.

The funding was led by Curql, with significant contributions from Canapi Ventures and TruStage Ventures. This investment underscores the strong investor confidence in Posh AI’s specialized AI solutions tailored for the banking sector.

The company focuses on creating AI tools that enhance operational efficiency and service quality for credit unions and banks. These solutions are designed to support financial institutions in managing customer interactions more effectively and ensuring a seamless service experience.

YesWeHack secures €26m in Series C

YesWeHack, a prominent Bug Bounty and vulnerability management platform, has successfully closed a €26m Series C funding round.

The company, known for connecting organisations with thousands of ethical hackers to enhance digital security, is poised to significantly advance its technological capabilities and market reach.

The investment round was led by Wendel, with additional funds from new participants including Adelie and Seventure Partners, and continued support from Bpifrance, Open CNP, and Eiffel Investment Group. The round also marked a notable addition to YesWeHack’s board, welcoming Renaud Deraison, co-founder of Tenable and Senior Advisor to Wendel Growth.

Anterior nets $20m

Anterior, an InsurTech which specialises in leveraging AI to accelerate health insurance approvals, has finalised a $20m Series A round.

According to InsurTech Insights, the funding round was led NEA, a seasoned Venture Capitalist, but also featured participation from existing investors Sequoia and Neo.

Anterior intends to use the new funding to accelerate its hiring strategies and continue refining its product. The ultimate goal is for Florence, the firm’s AI-driven co-pilot, to become as ubiquitous as a doctor’s pager but 100 times smarter.

XONA ramps up zero-trust security with $18m

XONA, the cyber security trailblazer, recently announced an $18m strategic investment led by Energy Impact Partners (EIP), a notable player in the cyber investment sphere.

This funding boosts XONA’s total capital to $32m, earmarked for significant advancements in their zero-trust user access platform.

The company’s proprietary technology offers robust security solutions tailored for operational technology (OT) environments. XONA’s system is designed to be technology-agnostic and can be set up within minutes, providing immediate protection against common cybersecurity threats.

Fin+InsureTech firm Finsall secures Rs 15 crore

Finsall, an innovative Fin+InsureTech company, has successfully secured a bridge round of Rs 15 crore, led by prominent investors Unicorn India Ventures and Seafund.

This funding round also witnessed contributions from various other institutional investors.

The Rs 15 crore raised in this round will be strategically used to establish a non-banking financial company (NBFC) aimed at scaling Finsall’s lending operations. This move is intended to augment their capabilities in insurance premium financing, further enhancing their service offerings in the financial sector.

Real estate FinTech Stake raises $14m

Stake, the leading digital platform for real estate investment, has successfully raised $14m in a recent funding round.

The investment was led by Middle East Venture Partners (MEVP), with participation from Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and the US-based private investing platform Republic.

Stake has made significant strides in the Dubai real estate market over the past three years, amassing over 500,000 users. The platform aims to utilize the new funding to expand into Saudi Arabia, becoming the first platform to offer individuals outside the Kingdom the opportunity to invest in Saudi real estate opportunities. The Saudi market presents vast growth opportunities for Stake, given its significance for both regional and international investors.

Aidentified secures $12.5m in Series B funding

Aidentified, a prominent AI-driven platform offering relationship intelligence and prospecting solutions, has successfully raised $12.5m in a Series B funding round led by FactSet, a global leader in digital financial solutions and enterprise services.

The company, known for its cutting-edge technology, provides essential tools for financial advisors, marketing teams, and sales professionals, enabling them to identify, qualify, and convert new client relationships efficiently. Aidentified’s platform is particularly noted for enhancing client engagement among top-tier financial service firms and independent registered investment advisors.

The fresh capital injection will be channelled towards advancing the technological capabilities of Aidentified’s platform and expanding its team to support accelerated client adoption. As the company progresses, these developments are expected to solidify its position in the market and enhance its service offerings to clients.

Polish FinTech firm Wealthon secures $12.3m

Wealthon, a Polish FinTech firm, has successfully secured debt financing of $12.3m from funds managed by CVI Dom Maklerski.

According to FinSMEs, the investment marks a significant commitment to supporting small and medium enterprises (SMEs) while expanding innovative financial product offerings.

The funds raised in this round will be directed towards scaling up the company’s operations and further developing its financial products. Wealthon is particularly focused on enhancing its presence in the burgeoning e-commerce sector, which has shown substantial growth potential.

Wealthon operates with a distinct business model, focusing primarily on providing financial support to SMEs. The company offers the Wealthon Poscash loan, which is distinguished by a proprietary scoring system.

YourSix secures $10.5m in Series A

YourSix has announced a successful $10.5m Series A funding round led by Vocap Partners, with additional participation from Eastside Partners.

This significant investment marks a pivotal moment for the company as it aims to extend its market presence and enhance its innovative security offerings.

The funding will primarily be used to accelerate the company’s growth and further develop its proprietary YourSixOS platform, a cloud-native system that supports the transition of commercial security solutions to the cloud.

Torpago secures $10m

Torpago has successfully raised $10m in a Series B funding round to support its white-label commercial credit card and expense management platform tailored for banks.

According to PYMNTS, the latest funding round was co-led by Priority Tech Ventures, a division of Priority Technology Holdings, and EJF Ventures, demonstrating strong investor confidence in Torpago’s innovative solutions.

Torpago specialises in providing a platform designed to assist regional and community banks in differentiating their products, driving commercial client growth, and competing effectively against other FinTechs and national institutions. The platform is built on a robust technology stack that includes web and mobile applications, native application programming interfaces (APIs), and microservices.

Sidekick raises £8.5m

Sidekick, a UK-based financial services innovator, has successfully secured £8.5m in combined seed and debt financing to revolutionize access to wealth management.

Sidekick is renowned for providing sophisticated financial tools typically available only to the ultra-wealthy.

The company has raised £8.5m through a £4.5m seed round and a £4m debt facility. The seed funding was co-led by Pact VC and TheVentureCity, with contributions from 1818, MS&AD, Blackwood, Octopus Ventures, Seedcamp, and Semantic Ventures. Meanwhile, Columbia Lake Partners provided the debt financing.

CleverCards announces €8m investment

CleverCards, the Irish digital payments innovator, has secured a significant €8m funding round.

This latest investment features contributions from Pluxee, a key player in Employee Benefits and Engagement, along with additional support from previous investors, according to a report from FinTech Finance News.

This capital injection brings the company’s total raised funds to €28m.

Boston’s AI FinTech startup EnFi bags $7.5m

EnFi, a Boston, MA-based AI FinTech startup, has successfully secured a $7.5m seed investment, according to FinSMEs.

The $7.5m seed funding round was spearheaded by Unusual Ventures, accompanied by substantial contributions from Boston Seed, Argon Ventures, and Impellent Ventures. These notable investors have recognised the potential of EnFi’s innovative approach to financial technology.

EnFi is dedicated to transforming the lending process through advanced artificial intelligence. By employing sophisticated AI tools, the company scrutinises raw borrower data, seamlessly integrating information from both public and private sources.

AI-powered FinTech firm Brightwave secures $6m

Brightwave, the AI-driven FinTech company specialising in financial research, has successfully closed a seed funding round of $6m.

The investment was spearheaded by Decibel Partners and supported by Point72 Ventures, Moonfire Ventures, alongside a group of angel investors, including executives from notable firms such as OpenAI, Databricks, Uber, and LinkedIn.

Founded by Mike Conover and Brandon Kotara, who bring more than two decades of combined expertise in AI and financial infrastructure, Brightwave is at the forefront of developing proprietary AI systems.

UK-based OnSecurity raises £5.5m

OnSecurity, a UK-based provider of IT security services, has announced a £5.5m growth investment from Gresham House Ventures.

The cybersecurity company, specialising in penetration testing, received its first round of equity investment since its launch in 2018. The investment will support OnSecurity’s rapid growth plans, focusing on both expansion and increased R&D for its pentesting platform.

OnSecurity, based in Bristol, aims to become the world’s leading pentest engagement platform. The company currently serves almost 300 customers and has completed over 5,000 pentests to date. With its growing client base, OnSecurity plans to double its headcount from 35 to 70 employees in the coming years to support its next growth stage.

Los Angeles-based Pyte bags $5m

Pyte, a company specialising in secure computation platforms, has announced it has raised an additional $5m in funding, bringing its total funding to over $12m.

Founded in 2021, the Los Angeles-based offers a unique solution that enables markets and data providers to collaborate, match, and run calculations on sensitive data without ever decrypting it.

This ensures that companies can utilise their data across sensitive areas, including cloud environments, while maintaining privacy compliance and safeguarding against data breaches. The platform also protects sensitive intellectual property (IP).

AirMDR secures $5m to pioneer AI-driven cybersecurity

AirMDR, a leading force in AI-native Autonomous Managed Detection and Response (MDR), has successfully closed a $5m seed funding round.

The round saw prominent participation from Foundation Capital and Storm Ventures, positioning AirMDR at the forefront of the cybersecurity industry.

This fresh injection of capital is earmarked for an ambitious expansion of AirMDR’s research and development efforts as well as to accelerate their market entry. By focusing on these areas, AirMDR aims to solidify its presence and prowess in the MDR sector.

AI firm Jump raises $4.6m

Jump, an AI software for financial advisors, announced today that it has secured a funding round of $4.6m.

The investment was led by Sorenson Capital, with significant contributions from Pelion Venture Partners and several strategic angel investors.

Jump is dedicated to improving the efficiency of financial advisors by automating routine administrative tasks. By leveraging AI technology, Jump helps advisors focus on their core competencies: advising clients and building strong relationships. The software automates various tasks including notetaking, analysing data from past client interactions to prepare for upcoming meetings, composing follow-up emails, generating task lists, and syncing information with CRM systems such as Wealthbox, Redtail, and Salesforce.

InScope secures $4.3m

InScope, a newly launched FinTech company, has successfully raised $4.3m to expand its innovative financial reporting and auditing platform.

According to PYMNTS, the funding round saw significant contributions from prominent investors such as Lightspeed and Better Tomorrow Ventures.

The company is dedicated to transforming the traditional processes involved in financial reporting and auditing for private companies.

NOW Money garners $4m in new funding

Dubai-based NOW Money, a pioneering inclusive banking and payroll FinTech, today announced the successful closure of a $4m equity investment round.

This marks the company’s second round of funding since its acquisition by Mark Nutter and Nicolas Andine in 2023. The investment was led by undisclosed parties who have shown a strong belief in the company’s mission and strategy.

NOW Money has carved out a niche in providing secure digital banking solutions targeted primarily at low-income workers within the Gulf Cooperation Council (GCC) region. The company’s operations are focused on offering accessible financial services, which are crucial in a region where many low-income migrant workers often lack basic banking amenities.

Ohalo secures £2.8m

Ohalo secures £2.8m has announced a new injection of £2.8m in growth capital from YFM Equity Partners.

The funding will primarily be utilised to enhance Ohalo’s flagship product, the Data X-Ray platform. This state-of-the-art technology offers comprehensive solutions for data discovery, classification, and sensitive data redaction.

Designed to support organisations in managing the ever-increasing volume of unstructured data, Data X-Ray helps mitigate risks associated with data security and regulatory non-compliance.

Danelfin raises €2m to revolutionise retail stock picking

Danelfin, a firm that leverages AI to enhance stock selection and portfolio management for retail investors, has secured €2m.

This funding round was spearheaded by the pan-European venture capital firm, Nauta Capital, and saw contributions from various existing investors.

The firm is at the forefront of developing an AI-powered platform that is transforming how retail investors across the globe make investment decisions. By converting complex stock data into an accessible ‘AI Score’, Danelfin simplifies the investment process. This score helps investors identify potential outperformers in the stock market, with those rated AI Score 10 showing an impressive outperformance of +14.69% over the market average after three months.

SmartLoC secures €1.8m

SmartLoC, a pioneering startup focused on developing a cutting-edge, fully digital B2B payment solution, has secured €1.8m in seed funding.

The round was led by High-Tech Gründerfonds (HTGF), with additional investments from Loggerhead Ventures, MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH, and several business angels.

SmartLoC’s innovative cloud platform aims to streamline and digitise the cumbersome process of B2B payments in international trade. By leveraging advanced technologies such as IoT, blockchain, and AI, the company seeks to provide businesses with a seamless, secure, and efficient solution for managing cross-border transactions.

Prêts secures €1m for sustainable home renovations

Prêts, a FinTech startup focused on sustainable home renovations, has secured €1m in funding. This investment is aimed at making energy-efficient home improvements accessible to more homeowners.

The funding round saw participation from Innovatiefonds Noord-Holland, Rubio Impact Ventures, Rockstart, and several industry angels. The capital will be used to launch Prêts’ MVP in collaboration with leading Dutch partners.

Prêts’ platform is designed to simplify the financing of sustainable home improvements, ensuring that these upgrades do not increase homeowners’ monthly energy bills. This approach makes the investments financially neutral and beneficial from an energy savings perspective.

Nada secures fresh investment

Nada, an investment tech platform that connects homeowners with investors, has secured funding and welcome a new CEO and president, Tore Steen.

Previously a member of Nada’s Board of Directors, Steen is now stepping up to spearhead the company’s ambitious efforts to transform the real estate wealth landscape.

The company announced a successful seed extension round, led by prior investors LiveOak Ventures and 7BC Venture Capital. The funding specifics were not disclosed, but it marks a significant step in Nada’s journey towards expanding its innovative real estate investment solutions.

YipitData secures strategic debt facility

CIBC Innovation Banking led the arrangement and served as the administrative agent for a substantial debt facility for YipitData, a New York-based leader in alternative data insights.

YipitData, trusted by investment funds and large corporations, offers comprehensive data analysis crucial for strategic financial decisions.

The funding underscores CIBC Innovation Banking’s commitment to supporting YipitData’s operational flexibility and scalability.

Hawk secures additional Series B funds

Hawk AI, a key player in the FinTech industry, has announced a significant boost to its Series B funding today, marking an increase in valuation.

This financial backing underscores the growing confidence in Hawk’s innovative technologies and its potential for expansion in the international market.

Hawk is dedicated to enhancing the financial crime detection and prevention capabilities of financial institutions through its advanced, explainable AI technology. This technology not only increases the effectiveness of these institutions but also ensures they meet AML/CFT regulatory compliance—a crucial factor in today’s financial ecosystem.

Insurance software provider ISI secures investment

NexPhase Capital, a private equity firm known for its thematic and operational focus, has announced an investment in Insurance Systems Inc., ISI, a provider of enterprise software solutions to the property and casualty insurance industry.

The amount raised in this investment round was not disclosed. NexPhase’s investment aims to support ISI’s growth in current markets, expand into new areas, and enhance its product offerings, particularly in integrations, implementation speed, and analytics for both new and existing customers.

ISI is a leading provider of policy administration systems for property and casualty insurance carriers across the U.S., Canada, and globally. ISI’s flagship product, ISI Enterprise, enables insurance carriers to manage the complete policy lifecycle, including administration, claims, billing, accounting, and reinsurance.

Keep up with all the latest FinTech news here.

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