Up to $998m was raised across all the funding rounds reported on by FinTech Global this week, slightly missing out on hitting $1bn.
The biggest deal this week was recorded by FinTech firm Oportun, who raised a massive $306m in a warehouse facility.
Here are this week’s deals.
Oportun secures $306m
Oportun, a mission-driven FinTech company, today revealed the successful amendment and extension of its longstanding warehouse facility.
The facility has now a total commitment of $306m, with Goldman Sachs continuing as the senior lender and Jefferies participating as the mezzanine lender. These firms have been longstanding, existing lenders to Oportun, underlining their continuous support.
The newly secured funds amounting to $306m will be managed under a new two-year revolving period. This funding is secured against Oportun’s diverse portfolio, including unsecured and secured personal loan originations.
French InsurTech Alan raises $193m
French digital health insurer, Alan, has successfully secured a substantial $193m in its latest Series F funding round.
According to Life Insurance International, this financial boost was spearheaded by Belfius Bank, a major Belgian financial institution, and included participation from a mix of new and existing investors such as OTPP via Teachers’ Venture Growth, Temasek, Coatue, and Lakestar. Prominent entrepreneurs from France and around the globe also contributed to this funding effort.
Alan’s operations, which span across France and Belgium, with Belgium being its second-largest market, have now been significantly strengthened.
M2P Fintech secures $102m in Series D funding
M2P Fintech has recently secured a significant $102m in the first close of its Series D financing.
This funding was raised through a combination of primary and secondary share sales, setting the company’s valuation at an impressive $783m, according to a report from IBS Intelligence.
The investment round was spearheaded by Helios Investment Partners, marking a pivotal step in M2P Fintech’s strategy to cement its leadership in India and expand its operations internationally, with a particular focus on Africa.
Centivo secures $75m
Centivo, a healthcare company focused on making high-quality healthcare more affordable, has secured $75m in a recent funding round.
The investment attracted participation from new strategic investors, Cone Health Ventures and MemorialCare Innovation Fund, alongside existing backers, according to InsurTech Insights.
The funding will support Centivo’s ongoing efforts to tackle the rising cost of healthcare for employers and employees in the United States.
InDebted bags $60m
InDebted, an Australian-founded global FinTech, announced today the successful completion of a $60m Series C funding round.
This significant investment values the company at over A$350m, marking a considerable increase from its previous valuation.
The funding round was led by Airtree, with participation from the Australian Retirement Trust and the newly established Premier Capital Partners. Existing investors such as Reinventure, Carthona, and Perennial also contributed, alongside Second Quarter Ventures, which acquired shares from angel investors and early staff members.
CIBC backs Sayari with $40m
Sayari, a counterparty and supply chain risk intelligence platform, has been granted an undrawn $40m revolving credit facility by CIBC Innovation Banking.
This significant financial support is poised to bolster the company’s strategic global expansion efforts. Earlier this year, Sayari also received a substantial $235m strategic growth investment from alternative asset management firm TPG.
Founded in 2015, Sayari enhances global commerce safety by improving supply chain transparency and resilience. The company provides critical support to sourcing, procurement, and trade compliance teams, helping them manage intricate risks that may often go unnoticed within supply chains. These risks include forced labor, ESG (Environmental, Social, and Governance) issues, and compliance with global sanctions.
Datamaran secures $33m from Morgan Stanley
Datamaran, a pioneer in strategic ESG software, has successfully secured $33m in Series-C funding from Morgan Stanley Expansion Capital.
The investment underlines Datamaran’s leadership in the ESG software market, particularly as it embarks on an ambitious growth strategy across the U.S. and Europe. This new injection of capital is set to propel the company’s pioneering initiatives in generative AI and bolster its market presence.
The substantial funding comes as Datamaran continues to enhance its software capabilities. The company is renowned for enabling organizations to monitor over 400 external risk factors effectively, transforming ESG compliance into a strategic advantage rather than just an operational cost.
Apron secures $30m in Series B funding
Apron, the innovative payment solutions provider, has successfully completed its Series B funding round.
Building on the momentum from its initial $15m Series A, Apron has raised an additional $30m to continue its mission of simplifying the payments process for small to medium-sized businesses (SMBs).
The latest investment was spearheaded by Zinal Growth, a growth-stage focused tech fund supported by the Checkout.com founder. Existing backers including Index Ventures, Bessemer Venture Partners, and Visionaries Club also participated, along with Tony Fadell, inventor of the iPod and Principal at Build Collective.
Athena Secures AU$25m Series B
Athena, a FinTech company, has successfully secured AU$25m in a Series B funding round.
The investment round, led by Square Peg, with commitments also coming from Hostplus and Airtree.
This substantial financial backing will fuel Athena’s mission to disrupt the traditional mortgage sector in Australia. The company’s unique business model is designed to make home ownership more accessible and affordable, directly challenging the dominant big banks in the market.
Bessemer Venture Partners backs Wrapbook with $20m
Wrapbook, a pioneering employer-of-record service for the entertainment sector, has successfully raised $20m in equity financing from Bessemer Venture Partners.
This investment values Wrapbook at a staggering $750m and comes with a unique secondary tender offer targeted at eligible Wrapbook employees, allowing them to sell a portion of their equity.
As an integral player in entertainment payroll and production accounting, Wrapbook is redefining the efficiency of film finance and production teams.
GEOX raises $19m Series A
Israeli startup GEOX, which specialises in leveraging artificial intelligence for real estate risk analysis, has announced a successful $19m Series A funding round.
The round was spearheaded by Flashpoint Venture Capital, with contributions from Suretech Partnership and individual investors Ariel Maislos and Noam Lanir, according to a report from CTECH.
This latest injection of capital increases the total funding to $23m since the company’s inception.
Spanish InsurTech startup Tuio raises $16.7m
Madrid-based InsurTech startup Tuio has raised $16.7m in a funding round that combined equity and debt, as it looks to enhance the service it provides to its clients.
The financing was led by MassMutual Ventures, with additional participation from BlackRock, BAMCAP Ventures, Extension Fund, and other undisclosed investors, according to InsurTech Insights.
The startup plans to use the newly raised funds to further its structural investments.
Outgo accelerates freight payment innovation with $15m
Outgo, a modern payments platform for freight, has announced it has secured $15m in funding to revolutionize the freight payment process for carriers.
This funding round was led by Gradient Ventures and Construct Capital, with significant contributions from Neo, PSL Ventures, Bezos Expeditions, Fintech Fund, Operator Stack, and Upper90.
The investment total includes a $15m equity fundraise and a $50m credit facility from Upper90 for receivables purchasing.
Tamnoon secures $12m
Tamnoon, a leader in Managed Cloud Security Remediation, announced today that it has secured $12m in Series A funding.
The round was spearheaded by cybersecurity investment firm Bright Pixel Capital, formerly known as Sonae IM. New investors Blu Ventures and Mindset Ventures also participated, along with returning backers Merlin Ventures, Secret Chord Ventures, Inner Loop Capital, and Elron Ventures.
Tamnoon is the first company to develop a hybrid human-AI managed service from scratch specifically tailored for cloud security remediation. Established by veterans in cloud security and AI/ML, Tamnoon integrates artificial intelligence with human intelligence to provide a scalable expert-guided remediation process that ensures cloud security without disrupting business operations.
Tech-driven insurance broker arqu raises $10m
arqu, a tech-enabled wholesale insurance brokerage, has raised $10m in a Series A financing round led by Crosslink Capital, with additional support from Intact Ventures.
Existing investors, including Lightspeed Venture Partners, Foxe Capital, and Nationwide Ventures, also participated in the round, according to FF News.
Specialising in large-scale and complex commercial risks, arqu operates within the $100bn Excess & Surplus (E&S) insurance market, transforming how risks are transacted.
The company leverages data and technology to arm its brokers with insights, aiming to redefine traditional wholesale insurance practices.
DefectDojo secures $7m to propel application security innovations
DefectDojo, a leader in application security solutions, has recently successfully secured $7m in funding.
The investment, led by Iolar Ventures and Aspenwood Ventures, aims to catalyze the company’s innovative approach to security risk management.
DefectDojo has emerged as a cornerstone in the application security and vulnerability management landscape, boasting over 38 million downloads. The platform integrates with more than 180 security tools, serving a diverse user base that includes Fortune 10 companies, international banks, government agencies, startups, and solo consultants.
Blackpanda secures $6.7m in strategic investment
Blackpanda, a leader in cyber emergency response based in Asia, announced a strategic funding boost of $6.7m today.
The investment round was co-led by Singtel Innov8 and Gaw Capital Partners, with additional funds coming from WI Harper Group. This financial infusion is set to accelerate Blackpanda’s growth across the region.
Blackpanda’s total funding for its Series A now stands at an impressive $21.7m.
Enginsight secures €6m to bolster cybersecurity for German SMEs
Enginsight, a seasoned German provider of an all-in-one cybersecurity platform, has successfully concluded a new funding round, securing €6m.
The round was led by UVC Partners, with notable co-investors including Carsten Maschmeyer’s seed+speed fund, bm-t beteiligungsmanagement thüringen GmbH, Brandenburg VENTURES GmbH, Smart Infrastructure Ventures, and Talanx AG.
This new investment brings Enginsight’s total funding to €6m, aimed at enhancing its mission to safeguard German SMEs against the rising tide of cyber threats. SMEs, which constitute 99.4% of the German economy, are often at higher risk due to their limited resources and cybersecurity expertise.
Dotfile secures €6m to enhance RegTech innovation
Dotfile, a French RegTech firm established in 2021, has successfully completed a €6m fundraising round.
According to Financial IT, this investment comes just over a year after their initial €2.5m round. The latest funding effort was led by Seaya Ventures and saw contributions from existing investors Serena and Hexa.
Dotfile operates a compliance one-stop shop platform that leverages AI to streamline customer onboarding and ensure adherence to Anti-Money Laundering regulations. The company is at the forefront of business verification, or “Know-your-Business” (KYB), which integrates multiple data sources to rapidly verify businesses globally.
Lendistry secures $5m from City National Bank
City National Bank, a major financial institution, has announced a strategic $5m impact investment in Lendistry, a minority-led fintech firm.
The investment of $5m will be directed towards providing individual loans under $100,000. This initiative is particularly focused on aiding minority- and women-owned businesses located in low-income neighborhoods, which often face challenges in securing funding through traditional banking channels.
Lendistry operates as a Community Development Financial Institution (CDFI. The company specializes in offering accessible financial products to small businesses and managing grant programs for government agencies. Based in a Los Angeles Opportunity Zone, Lendistry leverages technology and strong community partnerships to bridge the gap in capital access.
Financial intelligence leader KOIOS secures $5m
KOIOS has successfully completed its seed funding round, raising $5m from family offices and private investors.
According to Finextra, this significant financial endorsement underscores confidence in KOIOS’s innovative approach to online security.
The investment was spearheaded by a consortium of family offices and private investors, marking a robust backing for the company’s advanced technology. KOIOS is dedicated to enhancing financial security by identifying and mitigating online threats and manipulation campaigns targeted at publicly traded companies.
Infact lands £4m seed investment
Infact, a challenger Credit Reference Agency, today announced a significant milestone, having secured £4m in seed funding alongside gaining authorisation from the Financial Conduct Authority (FCA) to operate as a Credit Reference Agency.
The £4m investment was led by AlbionVC, with contributions from 13books Capital, Outward VC, Form Ventures, and Portfolio Ventures. Additionally, Infact has received backing from top angel investors deeply entrenched in credit referencing, lending, and the FinTech space.
Infact aims to address the inherent issues plaguing legacy credit reference agencies, which often fail to serve both consumers and lenders adequately.
Latvian investment platform Mintos lands €2m
Mintos, a distinguished player in the FinTech sector, has successfully secured a €2m debt funding round.
The Latvian-based multi-asset investment platform is recognized for offering a mix of alternative and traditional investment options, catering to a diverse investor base.
The investment was provided by the Latvian growth capital fund, FlyCap. This new capital infusion is poised to accelerate Mintos’ growth initiatives significantly, focusing on customer acquisition across the European Union and enhancing the platform’s reach and impact.
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