The FinTech sector celebrated a solid week of funding, as it secured almost $750m over the past seven days.
Over the 16 deals covered by FinTech Global $748.85m landed. Of those 16 tranches, two landed were serious headliners.
Cribl, a trailblazer in the realm of enterprise data management, managed to secure a substantial $319m in what was an oversubscribed round. The miletone investment saw their value skyrocket to $3.5bn, a 40% increase from its last funding raise in 2022.
Similarly, redalpine, a Switzerland-based Venture Capital firm, bagged $200m for its landmark RAC VII fund to back InsurTech and FinTech innovation.
These deals made up over 2/3rds of this week’s capital raised.
In the national stakes, the USA continued its position as the perennial hub of FinTech investment. The home of the brave saw over half of the deals from this week be completed by companies on its shore, with nine secured.
Behind them, usual customers the UK were nowhere to be seen, instead they were replaced by a smorgasbord of a chasing pack.
India were at the head of that varied queue, with two deals, but behind them (all with a solitary deal), were Brazil, Australia, Japan, South Africa, and Uzbekistan.
As for the sectors, FinTech ruled the roost with 7 deals, but there was still success for others in a diverse week for the space holistically.
InsurTech was next up with four deals, ahead of RegTech with three, and CyberTech and WealthTech which both secured one deal.
Data engine leader Cribl announces $319m Series E at $3.5bn valuation
Cribl, a trailblazer in the realm of enterprise data management, has recently concluded an impressive Series E funding round.
The company, which brands itself as the Data Engine for IT and Security, secured a substantial $319m in what was an oversubscribed round. This milestone not only bolsters Cribl’s financial foundations but elevates its valuation to an impressive $3.5bn, marking a significant 40% increase since the last funding phase in 2022.
redalpine secures $200m for RAC VII fund to back InsurTech and FinTech innovation
redalpine, a Switzerland-based Venture Capital firm, has successfully closed its largest fund to date at $200m, with plans to accelerate investments in InsurTech, FinTech, and other high-impact technology sectors across Europe.
The fund, known as redalpine Capital VII (RAC VII), has also announced plans to open a new office in London as part of its expansion strategy, according to InsurTech Insights.
The $200m fund was backed by a range of investors, although specific names have not been disclosed. The funding round for RAC VII was oversubscribed, surpassing its initial target, which is particularly notable given the challenges of the current fundraising environment.
Parafin secures $93m in debt facility to bolster small business finance
Parafin, an innovator in embedded finance, has successfully closed a $93m debt facility with Jefferies and Trinity Capital, with the potential to increase funding to $187m.
Parafin’s primary function is to enable platforms such as marketplaces, vertical SaaS, and payment processors to offer embedded financial services to their small business sellers.
Utilising advanced machine learning, Parafin has developed a robust underwriting model that processes over a billion data inputs across various industry verticals. This innovative approach has allowed Parafin to partner with major companies like Amazon, Walmart, DoorDash, and Worldpay, providing financing solutions to hundreds of thousands of small businesses in under three years.
Shift raises AUD 35m in Series D, enhancing credit solutions for Australian SMEs
Shift, the distinguished Australian FinTech company, recently announced the successful closure of an AUD 35m Series D equity funding round.
This significant financial boost was led by Peak XV Partners, previously known as Sequoia Capital, SEA.
The investment was supported by several of Shift’s existing shareholders, continuing the momentum from a previous AUD230m Asset Backed Securitisation completed in May 2024. This marks a significant milestone as Shift celebrates a decade of operations since its inception in 2014.
FinOps firm nOps bags $30m from Headlight Partners
nOps, has successfully secured $30m in Series A funding, with Headlight Partners leading the investment.
This significant financial boost is set to catalyze the expansion and enhancement of nOps’ AWS cloud management platform.
The firm specializes in providing comprehensive solutions for DevOps, Engineering, and FinOps teams. By optimizing cloud resources, nOps facilitates a more efficient and cost-effective cloud experience, enabling engineering professionals to concentrate on innovation and growth instead of operational challenges.
TBC Bank Uzbekistan secures $25m from BlueOrchard to boost digital banking
TBC Bank Uzbekistan, the nation’s leading mobile-only bank, announced it has secured a significant $25m in debt financing from BlueOrchard Finance.
According to FinTech Finance, this fresh capital marks another strategic step for the bank as it seeks to enhance its digital offerings and deepen financial inclusion in Uzbekistan.
This new influx of capital will be channelled towards expanding TBC UZ’s comprehensive digital ecosystem. Specifically, the funds are earmarked to grow the bank’s loan portfolio and to promote broader financial access across Uzbekistan, which is the most populous country in Central Asia. This funding initiative is part of TBC UZ’s ongoing efforts to diversify its financial sources and follows a previous $10m credit facility it secured from responsAbility Investments AG earlier in the year.
Comun secures $21.5m in Series A to bolster banking for U.S. immigrants
Comun, a Latino-founded neobank, has successfully raised $21.5m in a recent Series A funding round.
The financial boost was led by Redpoint Ventures, with significant contributions from ANIMO Ventures, Costanoa Ventures, FJ Labs, RTP Global, and South Park Commons.
This funding follows closely on the heels of a $4.5m round secured in December 2023.
Arise invests $7.5m in Omnisient to advance financial services in Africa
South African FinTech, Omnisient, has recently secured a substantial $7.5m investment from Arise.
Omnisient, founded in December 2019, specializes in privacy-preserving data collaboration. Its platform enables various sectors, including retail, financial services, and healthcare, to safely collaborate on consumer intelligence without compromising consumer privacy. By providing a controlled and secure environment, the technology allows for the analysis of data while ensuring consumer privacy is maintained.
The newly acquired funds are earmarked for scaling Omnisient’s operations to new markets such as the UK, USA, and the Middle East.
Finarkein Analytics secures $4.75m in pre-series A funding to revolutionize DPI space
Finarkein Analytics, a pioneer in data products for the account aggregator and digital health sectors, has successfully raised $4.75m in a Pre-Series A funding round.
This financial boost was led by Nexus Venture Partners, with additional participation from IIFL’s Fintech Fund, Eximius Ventures, and prominent angel investors including Nitin Gupta from Uni and Chirag Jain from Ashika Group.
Finarkein specialises in data and workflow orchestration platforms that enable the co-creation of data products on India’s digital public infrastructure (DPI).
Linker Finance secures $3.7m to enhance digital banking for community banks
Linker Finance, a dynamic FinTech company focused on revamping the digital banking sector for community banks, has announced a successful seed funding round.
The company has raised a substantial $3.7m, which was led by Ten One Ten Ventures and Chingona Ventures.
This round also saw participation from a mix of venture capitals and angel investors including Audaz Capital, Techstars, Commerce Ventures, Bank of Brodhead, and Angeles Investors, alongside notable angels like Edrizio de la Cruz, Ahmed Mirza, Michael Olson, and Roberto Medrano.
Propel rebrands app, receives $3.5m to modernise safety net technology
Propel, a consumer technology company focused on supporting low-income Americans, has secured a $3.5m grant from the Bill & Melinda Gates Foundation.
This funding will be used to develop new AI-powered tools aimed at improving navigation of the safety net, which includes government programs such as SNAP (Supplemental Nutrition Assistance Program).
Founded in August 2014 by Jimmy Chen, Ram Mehta, and Jeff Kaiser through Blue Ridge Labs @ Robin Hood Foundation, Propel has revolutionised the way low-income Americans manage their public benefits.
PrivacyHawk secures $3m boost to spearhead data protection innovation
PrivacyHawk, a consumer data protection firm, has announced a significant milestone, celebrating surpassing 1 million users in just two years of operation.
Alongside this achievement, the company has successfully secured an additional $3m in capital. This funding round saw participation from an array of strategic investors including US News & World Report and K Street Capital, as well as ffVC, Cadron Capital, Alliance Catalyst Fund, Array, Liebenthal Ventures, Alumni Ventures, Duro, and Gaingels.
Tokyo-based climate finance firm Creattura secures $2.4m in Series A round
Tokyo-based Creattura, a climate finance company focused on carbon project development, has raised $2.4m in a Series A funding round.
The round saw participation from investors DBJ Capital and Mitsui Sumitomo Insurance Venture Capital, according to the Coverager.
Founded in 2022, Creattura provides carbon credits, renewable energy certificates, and consulting services to help businesses decarbonise their operations. To date, the company has sold over 800,000 tons of CO2-equivalent carbon credits and renewable energy certificates, equivalent to the annual emissions of around 400,000 people.
Indian InsurTech InsurancePadosi secures $500k in pre-seed funding round
InsurancePadosi, an Indian InsurTech startup, has successfully closed a $500,000 pre-seed funding round, led by the global early-stage venture capital firm Antler.
The round also attracted participation from prominent industry figures, including Hemant Kaul, former CEO and MD of Bajaj Allianz, and Satish Pillai, former CEO and MD of TransUnion CIBIL, according to InsurTech Insights.
The InsurTech plans to use the newly raised funds to enhance its technological platform, expand its product portfolio, and scale its sales and marketing efforts. Additionally, InsurancePadosi aims to enter underwriting and claims management to offer a full end-to-end experience for its customers.
MOXFIVE secures growth investment from Falfurrias to enhance cyber defenses
Falfurrias Management Partners, a private equity firm, has made a significant growth investment in MOXFIVE, a cybersecurity company dedicated to enhancing incident response capabilities and reducing future attack risks.
The investment aims to infuse MOXFIVE with enhanced expertise and resources, with Falfurrias partners Joe Price and Wilson Sullivan joining the company’s board.
MOXFIVE stands out in the cybersecurity landscape through its unique blend of technical expertise and a proprietary platform that offers tailored cybersecurity plans for each client. The company’s approach helps streamline incident response and build more resilient digital environments. The proprietary MOXFIVE Platform simplifies risk management for businesses of all sizes, offering comprehensive control in managing cybersecurity risks.
U2U Network and CrossCurve by EYWA secure funding from V3V Ventures
V3V Ventures has made headlines with its seed round investments in two burgeoning companies, U2U Network and CrossCurve by EYWA.
Both startups are poised to make significant impacts within their respective sectors of blockchain infrastructure and decentralized finance (DeFi).
The recent funding round saw significant capital inflows, though the exact amount remains undisclosed. These investments underscore V3V Ventures’ commitment to nurturing innovative solutions in the blockchain and DeFi arenas. The firm leverages its extensive network and advertising prowess to support its portfolio companies, hinting at an aggressive investment strategy in the near future.
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