This week, FinTech Global reported on 25 deals across the FinTech industry, with big players like J.P Morgan and Allianz providing key funding.
Over $966m was raised across all funding rounds this week, highlighting a strong and stable interest on the FinTech sector remaining.
Here are this week’s deals.
Sunbit partners with J.P. Morgan for a $355m debt facility
Sunbit, a prominent player in the FinTech sector, has successfully closed a $355m debt warehouse facility.
This strategic move is part of Sunbit’s ongoing efforts to meet increasing consumer demand, which has been spurred by broader merchant adoption and the expansion of its no-fee credit card offerings.
The facility will support the continued growth of Sunbit’s unique buy-now-pay-later (BNPL) technology and credit card services, which are renowned for their fairness, transparency, and accessibility.
Next Insurance secures $265m in funding
Next Insurance, a US-based InsurTech firm, has partnered with insurance giants Allstate and Allianz in a move which includes a $265m strategic investment.
The investment will enable Next to enhance its product offerings and expand its reach to small business clients, according to the Coverager.
Under this new partnership, Next’s digital insurance products will become accessible to Allstate customers, and the companies will jointly develop commercial auto products tailored for the small business market.
Additionally, the deal reinforces Next’s reinsurance relationship with Allianz through a multi-year commitment with Allianz Re.
Funding Societies lands $100m from HSBC
Funding Societies, Southeast Asia’s largest digital finance platform for micro, small and medium enterprises (MSMEs), announced a new milestone today with the signing of its third credit facility under the HSBC ASEAN Growth Fund.
This latest transaction, an accumulation of over US$100m in commitments from HSBC, highlights the bank’s ongoing support since 2022 and marks one of HSBC’s largest asset-backed secured facilities provided to digital SME lenders in the region.
The financial infusion is set to deepen and expand Funding Societies’ capabilities in delivering crucial credit services to underserved MSME sectors across Southeast Asia.
Bugcrowd bags $50m from Silicon Valley Bank
Bugcrowd, a pioneer in crowdsourced cybersecurity solutions, has secured a significant $50m growth capital facility from Silicon Valley Bank (SVB), a division of First Citizens Bank.
This financial injection is earmarked to enhance Bugcrowd’s artificial intelligence-driven platform on a global scale.
The substantial investment will drive continued innovation within the Bugcrowd Platform and will also finance strategic mergers and acquisitions. This strategic funding aims to bolster the company’s offerings to clients, partners, and the vibrant hacker community.
Kaizen secures £42m in first external round
Kaizen has successfully completed its first external funding round, securing a £42m investment from Guidepost Growth Equity.
This marks a significant milestone for the company, which has been self-funded since its inception in 2013 by CEO Dario Crispini.
The company, recognized as the global leader in regulatory reporting quality assurance, has captivated a substantial clientele with its ReportShield platform. This innovative technology enables thorough testing of regulatory reports at the trade level, ensuring accuracy and complete compliance with regulations such as MiFID, EMIR, SFTR, CFTC, and SEC. Kaizen has become a trusted partner for some of the world’s leading banks, asset managers, hedge funds, and brokers.
Easy Home Finance secures $35m
Easy Home Finance, a home financing startup, has successfully secured a fresh injection of $35m in a funding round.
Leading the investment was Ranjan Pai’s family office, Claypond Capital, alongside Sumitomo Mitsui Banking Corporation’s Asia Rising Fund, according to a report from Entrackr.
Based in Mumbai, Easy Home Finance is dedicated to simplifying the home loan process. The company offers a range of services, from home loan disbursement to related services such as home discovery, renovation, and moving assistance.
Noma secures $32m in Series A funding
Noma, an application security landscape firm, has exited stealth mode with a substantial $32m in Series A funding.
This marks a significant milestone for the company, which specializes in securing the entire data and AI lifecycle from development to production.
The $32m funding round was led by Ballistic Ventures, with additional contributions from Glilot Capital Partners and the involvement of strategic angel investors including current and former CISOs from major companies like McDonald’s and Google DeepMind. This investment follows a previously undisclosed seed round led by Glilot Capital Partners.
Noma is addressing critical vulnerabilities in the data science and machine learning domains by providing a comprehensive security platform that covers the entire Data & AI Lifecycle. Their solution is designed to manage risks associated with data pipelines, MLOps tools, and the use of open source models in AI applications.
MODIFI captures $15m investment to expand SME exports in Asia
MODIFI, a leader in B2B BNPL solutions, recently announced a substantial $15m investment.
As a major player in Japan and the APAC region’s financial landscape, Sumitomo Mitsui Banking Corporation (SMBC) not only provides capital but also strategic guidance.
The firm specializes in offering crucial liquidity and flexible payment terms to small and medium-sized enterprises (SMEs), enabling them to enhance cash flow and broaden their global market presence.
Marosa raises €12m from Aquiline
Marosa has successfully completed a €12m investment round, marking its first external capital injection.
The funding was secured from Aquiline, a private investment firm with a strong focus on the financial services and technology sectors. This capital infusion will play a critical role in accelerating Marosa’s growth strategy.
Founded in 2016 by Pedro Pestana da Silva, Marosa specializes in delivering crucial VAT compliance technology and services designed for large multinational corporations facing VAT obligations across Europe.
Fundcraft secures €11m in Series A
Fundcraft, an innovative player in digital fund operations, has successfully completed its Series A funding, securing a total of €11m.
Fundcraft is set on redefining the landscape of fund operations for alternative asset managers. With its cutting-edge digital platform, the company offers integrated solutions tailored to meet the intricate demands of mid-market private equity funds, venture capital, and funds of funds.
The platform is designed to streamline operations through enhanced automation, operational efficiency, and transparency.
Delos Insurance Solutions attracts $9m
Delos Insurance Solutions, a property insurance MGA, has successfully closed a $9m Series A funding round.
The San Francisco-based company, established in 2017 by aerospace engineers, has carved a niche in the insurance market by leveraging advanced satellite imagery and artificial intelligence to assess and insure properties in wildfire-prone areas.
Unlike traditional insurers who have retreated from these high-risk zones, Delos offers a lifeline to homeowners facing limited insurance options due to escalating wildfire threats.
Flueid secures $8.3m
Flueid, a pioneer in the real estate technology sector, has successfully raised $8.3m in growth financing.
This round of investment was spearheaded by LiveOak Ventures, based in Austin, with contributions from Detroit Venture Partners as well as continued support from existing backers Aquiline and Commerce Ventures.
The company is a leader in Verification of Title technologies for the residential real estate market. Flueid’s suite of VOT solutions is designed to modernise how title risks are identified and managed, ultimately streamlining transactions across the board.
UK-based Wayhome bags £8m
UK-based Wayhome has raised £8m in Series A funding led by existing investors Allianz X and Augmentum Fintech.
The round also featured additional support from new backers Volution, Love Ventures, and Cur8 Capital, according to Finextra.
Wayhome’s model provides a unique home ownership option for those struggling to buy a home outright in the current UK property market.
Through its part buy, part rent scheme, users can secure a home with a deposit as low as five percent.
Manchester’s CloudGuard receives major funding boost
CloudGuard, a Manchester-based cybersecurity start-up, has announced a significant financial boost, raising funds from the Northern Powerhouse Investment Fund II (NPIF II).
Founded in 2020, CloudGuard focuses on automating and employing AI to detect, protect against, and respond to cyber threats in real time.
CloudGuard operates primarily in the field of cybersecurity, offering advanced solutions that empower businesses to proactively address digital threats. Their technology integrates artificial intelligence to offer dynamic and robust cybersecurity defenses.
Embed Security bags $6m
Embed Security, a cyber firm specialising in AI-driven threat analysis, has successfully raised $6m in early-stage funding.
The company, founded in 2024 by Seth Summersett and Jeffrey Johns, aims to address the challenge of managing the vast quantity of cyber threat alerts that overwhelm even the most sophisticated security teams.
Both co-founders bring a rich background from companies like Google, Meta, FireEye, Mandiant, and the NSA, harnessing their expertise to tackle inefficiencies in threat management.
VibePay secures fresh £5m funding
VibePay, a player in the real-time payments and data sector, announced a significant boost in funding alongside a strategic hiring move.
The company, which is making waves in the FinTech industry, has added £5m to its coffers, courtesy of its existing investors.
This latest funding round brings the total investment in VibePay to £12m. The contributors to this round are longstanding supporters of VibePay’s vision, including high-profile figures like Nick Candy, who continue to back the company’s ambitious growth plans.
OpenOrigins secures $4.5m
OpenOrigins, the startup redefining trust in digital media, has secured a significant $4.5m in seed funding.
Leading the investment round were Galaxy Interactive and Galaxy Ventures, along with support from existing backer Unbound, a globally recognized investment firm spearheaded by Shravin Bharti Mittal.
OpenOrigins is known for its pioneering blockchain technology designed to certify the authenticity of digital content, offering a scalable solution amidst the rapid proliferation of AI-generated content.
Neem secures $4m credit
Neem, a leading embedded finance platform based in Pakistan, has recently enhanced its financial capabilities through a new $4m credit facility provided by DNI Group, a global investment firm active in 32 countries and a continuing investor in Neem.
This funding is specifically aimed at expanding ‘Neem Paymenow’, Neem’s earned wage access solution, across Pakistan, marking a significant step towards enhancing financial wellness for the nation’s salaried employees.
Primarily, Neem addresses the urgent financial needs of over 60 million workers in critical sectors such as retail, healthcare, security, manufacturing, and logistics. These workers often face significant financial strain between pay periods, with few tools at their disposal to manage rising living costs and unexpected expenses, which can lead to cycles of high-interest debt that affect their families and overall well-being.
Corgea raises $2.6m in seed round
Corgea, a CyberTech specialising in AI-driven vulnerability detection and remediation, has closed a $2.6m seed funding round.
According to Zawya, the investment was spearheaded by Shorooq Partners, with significant contributions from Y Combinator (YC), Propeller, Decacorn Capital, Unbound Ventures, and notable angels including Jawed Karim, co-founder of Youtube & Y Ventures, and Sam Kassoumeh, co-founder of SecurityScoreCard.
Corgea is making waves as an IDC Innovator for DevSecOps Automated Remediation. The company’s AI-powered suite is designed to automate the detection, triaging, and remediation of vulnerabilities in source-code. This includes tackling complex logic bugs which are pivotal in modern cybersecurity.
Groov secures £1.5m seed funding
Groov, an embedded lending platform, has announced the completion of its £1.5m seed funding round.
The company, which offers streamlined lending solutions for small and medium-sized enterprises (SMEs), aims to reshape access to capital through its advanced technology.
This funding will provide Groov with the resources needed to further develop its lending API, enhancing options, approval rates, and flexibility for SMEs seeking financing.
Customs Window secures €800k
Customs Window Technologies, an Irish RegTech startup established in 2022, has successfully closed an €800k seed funding round.
This fresh capital will help propel the company’s strategic push into the UK market, known for its complex regulatory and customs environment.
The investment was supported by an ensemble of private investors, Enterprise Ireland’s EIIS, and the High Potential Startup (HPSU) programme. Customs Window’s founders, Brian Murphy and Johnny Dunne, have positioned their Dublin-based firm at NexusUCD to tackle the increasing challenges of customs declarations which have intensified post-Brexit and with the rise of e-commerce.
Artio secures funding to pioneer insurance for early carbon credits
Artio, a climate InsurTech startup based in London, has successfully secured £550k in funding to revolutionise insurance solutions for early-stage carbon removal projects.
The £550k funding round was led by Lifetime Ventures, known for their expertise in climate technology, and included contributions from SFC Capital, a leading UK pre-seed investor.
Artio’s business revolves around developing proprietary risk modelling platforms tailored for early-stage carbon projects. Their products are designed to mitigate investment risks from the outset, thereby enabling investors to support high-quality carbon removal projects with greater confidence.
Performive secures major funding from Renovus Capital
Performive, a managed IT services provider for mid-market enterprises, has recently secured a majority investment from Renovus Capital Partners.
The Philadelphia-based private equity firm’s investment is set to accelerate Performive’s growth through product innovation, customer experience enhancement, partner enablement, and strategic initiatives.
Founded in 2005, Performive has established itself as a crucial partner to thousands of customers by offering mission-critical services that help businesses scale securely and optimize their operations.
TerraZone’s cybersecurity tech wins major investment
World Health Energy, known as WHEN Group, a key player in telecom and cybersecurity, has recently announced a significant investment in TerraZone.
This investment marks a crucial development in their joint efforts to innovate within the endpoint security identity isolation sector, particularly by delivering a tailored Zero Trust Network Access (ZTNA) solution for the micro-segmentation industry.
The investment aims to enhance the security protocols of organizations by implementing TerraZone’s novel endpoint security solution, which is pivotal for achieving genuine identity isolation in network environments. This cutting-edge technology is crucial for firms aiming to protect their sensitive resources, accessible to internal, remote, or external users.
Notice Ninja secures funding
Notice Ninja, an industry leader in tax notice management automation, has announced a strategic investment from Prospero Capital Ventures.
This partnership is poised to catalyze Notice Ninja’s expansion into new sectors, particularly targeting the high-compliance demands of the staffing industry.
This financial boost will support Notice Ninja’s strategic initiatives across industries plagued by regulatory challenges, such as staffing, where managing tax notices is burdensome due to frequent personnel changes and multi-jurisdictional compliance demands.
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