A total of $459m was raised across all the FinTech deals that were recorded this week by FinTech Global.
Leading the way of all the deals was $113m that was raised by trade finance platform Drip Capital, which it secured from a flurry of investors.
Here are this week’s deals.
Drip Capital clinches $113m
Drip Capital, a prominent digital platform specialising in trade finance, has successfully secured a $113m funding round.
The funding includes a $23m equity investment from Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), coupled with a significant $90m debt financing spearheaded by the International Finance Corporation (IFC) and East West Bank.
Positioned at the cutting edge of the FinTech sector, Drip Capital leverages sophisticated AI technologies to facilitate accurate credit risk assessments, streamline operations, and enhance the overall customer experience. This strategic infusion of capital is earmarked to accelerate market expansion and foster the development of innovative products tailored to meet the evolving needs of customers.
MirrorWeb secures $63m growth funding
MirrorWeb, a prominent player in the digital communications archiving and regulatory compliance software arena, has successfully secured a $63m growth equity investment from Mainsail Partners.
This substantial financial boost is set to accelerate MirrorWeb’s product innovation and enhance its customer success framework.
The funds will be channelled towards advancing the development of MirrorWeb’s software solutions, which are crucial for financial institutions grappling with increasing regulatory demands.
Oyster bags $59m Series D funding
Oyster, a prominent player in the global employment sector, has successfully raised $59m in its latest Series D funding round.
This latest investment surge has propelled Oyster’s valuation to an impressive $1.2bn, with their total funding now standing at $286m.
Central to its mission, Oyster provides comprehensive solutions designed to employ, pay, and care for distributed teams worldwide. Their platform addresses the complexities of global employment by offering trusted tools and resources essential for robust compliance and in-depth local HR knowledge.
Validus partners with HSBC for $50m facility
Validus, headquartered in Singapore, has announced a new partnership with HSBC, establishing a $50m debt facility aimed at bolstering financial inclusion for micro, small, and medium enterprises (MSMEs) in Indonesia.
This initiative falls under HSBC’s ASEAN Growth Fund strategy and seeks to mitigate the financial accessibility challenges faced by Indonesian MSMEs.
The investment, channelled through Validus’ Indonesian subsidiary, Batumbu, marks a significant push to support the economic development of Indonesia. Batumbu stands out as the largest digital SME financing platform in the country, boasting over two years of profit growth and EBITDA margins above 50%.
Fido raises $30m to boost financial inclusion
Ghana’s fintech innovator, Fido, recently bolstered its financial capacity with a significant $30m Series B funding round, according to a report from TechCrunch.
The round comprises a notable $20m equity portion along with additional debt financing, marking a strong vote of confidence in Fido’s growth trajectory.
Fido, established in 2015 by a trio of Israeli entrepreneurs—Nadav Topolski, Tomer Edry, and Nir Zepkowitz—has carved a niche in the digital lending market by offering mobile-based loans. The platform has expanded its services over the years to include savings accounts, bill payments, and smartphone financing.
Ziina bags $22m Series A
Ziina, the UAE’s premier financial platform, today announced a successful $22m Series A funding round.
Leading the round was US-based Altos Ventures, alongside several other prestigious investors such as Fintech Collective, Avenir Growth, Activant Capital, Y Combinator, FJ Labs, MEVP, and Jabbar Internet Group. This funding marks a significant step in Ziina’s journey beyond mere payment solutions, aiming to provide comprehensive financial services for both businesses and consumers.
Ziina’s platform offers a variety of financial solutions aimed primarily at facilitating easier transaction processes for small and medium-sized enterprises (SMEs) within the UAE. This includes not only payment gateways and point-of-sale systems but also advanced financial management tools that address the critical needs for improved cash flow and finance access among SMEs.
Sedric AI clinches $18.5m to pioneer AI compliance
Sedric AI, a leading innovator in AI-driven compliance solutions for financial institutions, announced today that it has successfully secured $18.5m in Series A funding.
The funding round was spearheaded by Foundation Capital, with significant contributions from Amex Ventures and further support from existing investors including StageOne Ventures and The Garage.
This investment brings Sedric AI’s total capital raised to $22m.
Hypernative secures $16m in Series A
Hypernative, a leader in Web3 security solutions, has successfully secured a $16m Series A funding round.
The company, renowned for its advanced AI-powered security products, is on a mission to safeguard all elements within the Web3 space, including projects built, run, or owned by their clients.
The funding was led by Quantstamp and saw participation from a consortium of investors including boldstart ventures, IBI Tech Fund, CMT Digital, Bloccelerate, Borderless, and others. This investment pushes Hypernative’s total funding to $27m, marking a significant step in its growth journey.
Hypernative operates at the forefront of cybersecurity for blockchain technology, offering real-time monitoring, risk detection, and automated response capabilities.
Digital health platform Solace secures $14m
Solace, a digital health platform, has announced that it has raised $14m in its Series A funding round.
The round was led by Inspired Capital, with participation from existing investors Craft Ventures and Torch Capital. New investors, including Anne Wojcicki, the late Susan Wojcicki, RiverPark Ventures, and Coalition Operators, also contributed.
With the new funding, Solace plans to accelerate the development of its digital platform and expand its network of healthcare advocates across the United States. The platform currently supports thousands of advocates in all 50 states and is working to extend its services to Medicare, Medicaid, and private-insurance patients.
Cobre raises $13m
Cobre, a Colombia-based startup, has recently secured a significant investment, announcing a $13m funding round to revolutionize corporate payment processes.
This funding effort was led by prominent investors including QED Investors and Atlantico Partners, with additional support from Canary, according to a report from TechCrunch.
Specializing in corporate treasury management, Cobre offers a dual solution aimed at enhancing the operational efficiency of chief financial officers (CFOs) across Colombia. The company’s platform centralizes and digitizes payment initiation and reconciliation, providing finance teams with comprehensive control and visibility over financial transactions.
Reinsurance innovator Demex Group raises $10.25m
Demex Group, a risk analytics and intelligence company specialising in stop-loss reinsurance protection, has secured $10.25m in funding through a Series A and previous SAFE round.
The funding was led by Congruent Ventures, with participation from Moxxie Ventures, MetaProp, and existing investor Blue Bear Capital, according to InsurTech Insights.
Demex focuses on providing parametric reinsurance solutions that protect insurers from the financial impacts of severe convective storms, such as tornadoes, thunderstorms, hail, and wind.
Cognitive Credit secures $10m
Cognitive Credit, a provider of data and analytics software for corporate credit markets, has successfully closed a $10m Series B funding round.
According to Tech Dogs, this significant investment was led by ETFS Capital, with continued participation from existing investor XTX Ventures.
The fresh influx of capital will enable Cognitive Credit to broaden its reach into additional markets while continuing to refine its product offerings. The firm is set to further develop its innovative solutions, including algorithmic debt valuation and AI-driven tools tailored for institutional investors.
Acuvity launches with $9m
Acuvity, a pioneer in AI security and governance, announced today that it has successfully closed a $9m seed funding round.
This investment was led by Foundation Capital, with additional contributions from notable individual investors such as Basil Alwan, Sri Reddy, and Jonathan Siddharth.
Positioned as a leader in comprehensive AI security, Acuvity aims to use these funds to fast-track the development of its innovative products designed to secure the expanding adoption of AI within enterprises.
Palm secures $6.1m seed funding
Palm, a financial technology firm based in Sweden and the Netherlands, has recently announced a significant milestone in its journey.
The startup, which is focused on optimising cash management for enterprise treasury teams, has successfully secured $6.1m in seed funding.
The company’s platform is designed to empower treasury teams by enabling informed decision-making regarding the movement of funds across numerous bank accounts and subsidiaries.
AI travel assistant startup Otto secures $6m seed round
Otto, an AI-powered startup focused on business travel, has raised $6m in a seed funding round.
The company, which is developing an intelligent and autonomous AI travel assistant for business travellers, aims to simplify the travel experience.
The funding round was led by Madrona Ventures, with additional backing from Direct Travel and several angel investors from the business travel industry.
Uniqkey secures €5.35m
Uniqkey, the Denmark-based cybersecurity firm, has successfully secured €5.35m in funding to expand its robust cybersecurity solutions across Europe.
According to Tech EU, the investment aims to bolster the resilience of companies against cyber threats and data theft, a critical need given the current security risks faced by small and medium enterprises (SMEs) across the continent.
The funding round was led by BackingMinds, with additional contributions from industry veterans like Jesper Zerlang (former CEO of Logpoint), Lars Ankjer, Otto Krabbe, Rolf Bladt, and several other well-known angels and key employees. This financial backing marks a significant step forward in Uniqkey’s mission to safeguard European businesses.
InsurTech Korint lands €5m to drive insurance digitalisation
Korint, a rising InsurTech company, has secured €5m in a funding round to boost the rate of digital transformation within the insurance industry.
The tranche was led by venture capital firm Ventech, with additional backing from 360 Capital, according to InsurTech Insights.
The newly acquired capital will be directed towards expanding Korint’s technology team and enhancing its SaaS platform.
This funding will also enable the company to double down on its efforts to innovate and empower more brokers and insurers to adapt to a rapidly evolving digital landscape.
Upsolve secures $4.2m Gates Foundation grant
Upsolve, renowned as the nation’s top nonprofit financial education platform, has recently secured a substantial grant to further its mission.
The organisation, known for its impactful educational resources, has been awarded $4.2m from the Bill & Melinda Gates Foundation. This funding marks a significant milestone in Upsolve’s ongoing efforts to enhance financial literacy and assistance among low-income Americans.
The generous seed grant of $4,249,901 will be directed towards the development and deployment of Upsolve Assist, an innovative AI-powered Financial Counselor. This tool is specifically designed to cater to the needs of low-income individuals across the United States, providing them with tailored financial advice at no cost.
Agree.com kickstarts with $3m
Agree.com, a San Francisco, CA-based startup, recently announced a successful $3m pre-seed funding boost.
According to FinSMEs, the innovative platform, designed to streamline agreements by integrating seamless money transactions, has captured the attention of multiple investors.
The funding round was spearheaded by Better Tomorrow Ventures, with contributions from 8-Bit Capital, Everywhere Ventures, Expedite Ventures, Firsthand Alliance, Hustle Fund, NEA, Singh Capital Partners, and Trust Fund. This impressive lineup underscores the market’s confidence in Agree.com’s potential to transform how agreements are managed digitally.
American Binary secures $1m investment from HEST
American Binary, a trailblazer in post-quantum encryption technologies, has recently secured a strategic investment.
The US-based firm received a $1m investment from HEST Investments, a private equity giant known for its focus on biotech, life sciences, and cybersecurity.
American Binary is pioneering the development of encryption solutions designed to protect data against the emerging threats posed by quantum computing. As AI accelerates and computational capabilities evolve, the company’s technologies are becoming crucial in safeguarding highly sensitive information.
Approveit secures $1m in funding
Approveit, an operations and automation platform for businesses, has successfully raised $1m.
This financial boost was supported by investors such as 10vc, Verras Capital, Telegraph Hills Capital, along with numerous other partners and angel investors, according to a report from Tech.eu.
Approveit is renowned for integrating a company’s existing messengers and task managers, enhancing transparency and control over finances, auditing, reporting, and other essential business processes.
Nayya captures strategic investment from Workday Ventures
Nayya, an innovative employee benefits platform, today announced a strategic investment from Workday Ventures.
The investment will enable Nayya to further its goal of simplifying the benefits selection process. By integrating advanced AI and data analytics, Nayya aims to equip employees with the necessary tools to make informed decisions about their benefits packages.
Barbry McGann, managing director and senior vice president at Workday Ventures, said, “Nayya is transforming the way employees engage with their benefits, and we’re excited to support them in their journey.
European software firm SecureFlag bags significant funding
Copilot Capital, a new private equity firm, has announced a significant majority investment in SecureFlag, a dynamic software company known for its cutting-edge cybersecurity training solutions.
Based in the UK, SecureFlag has carved a niche in the cybersecurity training sector by offering practical, hands-on coding training specifically tailored for developers and engineers.
SecureFlag stands out in the cybersecurity training arena by partnering with numerous prestigious global companies. It provides a unique training platform that supports over 45 coding languages, immersing developers in real-world scenarios that enhance engagement, learning outcomes, and secure coding practices.
CIBC Innovation Banking fuels threatER with growth capital
CIBC Innovation Banking provides growth capital to threatER, a leader in cyber defense technology, bolstering its capabilities to secure networks against sophisticated digital threats.
This financial backing will facilitate threatER’s ambitious scale-up efforts targeting medium-sized firms and large enterprises, particularly in sectors like financial services, healthcare, and legal.
At its core, threatER specializes in cybersecurity solutions that preemptively block malicious traffic from both entering and exiting a network while ensuring that legitimate traffic flows unhindered. Their technology focuses on real-time threat mitigation, enhancing overall network security while simultaneously boosting the efficiency of existing security frameworks.
CeresAI secures Series D funding
CeresAI, a data and analytics provider, has completed a Series D funding round led by Remus Capital, as it looks to help lenders and insurers reduce farming risks through advanced technology.
The company recently announced its rebranding from Ceres Imaging to highlight its foundation in computer vision and machine learning, reinforcing its leadership in delivering AI-powered insights to the agricultural sector.
The funding aims to support CeresAI’s domestic and international expansion as it refines its focus on agribusiness and financial services customers.
Morgan Stanley backs 3forge with strategic investment
3forge, a leading developer of High Impact code solutions for business-critical applications, has successfully secured its first external investment.
Morgan Stanley, a key player in the financial sector, has chosen to back the technology firm, marking a significant milestone in 3forge’s history since its inception in 2011.
The investment by Morgan Stanley is not just a financial boost but a strategic alliance that underscores the financial giant’s confidence in 3forge’s innovative technology solutions. The exact amount of the investment was not disclosed, but the partnership is set to propel 3forge into new markets and expansion phases.
BillEase secures Series C funding
BillEase, a digital consumer finance platform in the Philippines, has announced a significant milestone in its growth trajectory.
The company has successfully closed its Series C Equity Round, which was led by TPG’s The Rise Fund. Existing investor Burda Principal Investment also participated, reaffirming their commitment to BillEase’s mission.
BillEase operates at the forefront of the FinTech industry, utilizing cutting-edge technologies such as machine learning and AI to develop financial products that resonate with the local populace.
Wealth management software provider VRGL secures funding
VRGL, a leader in client acquisition and investment proposal management solutions, has announced the completion of a new funding round.
The fundraising was spearheaded by existing investors FINTOP Capital and MissionOG, with additional participation from Northwestern Mutual, Flyover Capital, Fin Capital, and other industry insiders.
The fresh capital injection will enable VRGL to enhance its product offerings, support market growth, and continue executing its strategy in the wealth management industry.
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