The FinTech sector continues to have a strong start to 2025, with a total of $1.2bn raised across 30 deals.
The past three weeks have each seen over $1bn raised by FinTech companies. Last week, a total of $2.4bn was raised across 35 deals, while the previous week saw over $16bn raised.
As for this week, the lion share of funding was deployed into US-based FinTech companies. The FinTech hub was home to 18 of the FinTech companies to secure funds this week, including the two biggest deals and seven of the top ten.
Global Payroll platform Deel had the biggest deal of the week with its $300m secondary investment from anchor investors. The funding round comes after Deel announced an $800m run-rate, as of December 2024, representing a 70% year-over-year increase.
The second largest funding round was a $193m growth financing round secured by InsurTech Openly. The home insurance company specialises in distributing policies through independent agents. The financing package consists of $123m in equity capital, led by Eden Global Partners, and a $70m senior note from Allianz X. Eden previously led Openly’s Series D round.
The other US FinTech companies to secure funds this week were Semgrep, 7AI, Riot, Lynx, Wisetack, Jump, Quont, Observo AI, XILO, TaxGPT, Trayd, Invary, Astra Security, Sotira, Streetbeat and Scout.
Germany and the UK were the only other areas home to multiple FinTech deals. The German FinTech companies were Solaris and hallo theo, while the UK FinTechs were Semeris and Napier AI.
Other countries represented this week were Singapore (fileAI), Ireland (ZeroRisk), Brazil (Neofin), Egypt (Khazna), Sweden (Froda), Tunisia (EasyBank), Turkey (Fimple) and India (Cashfree Payments).
Recent research from FinTech Global found that India has emerged as the FinTech leader in Asia. India emerged as the most active country in the Asian FinTech market in 2024, accounting for 271 deals (21% share), though this was a 58% decline from the 652 deals recorded in 2023. China, which led in 2023, saw its deal count drop sharply to 204 (16% share), marking a 74% decrease from 781 deals in the prior year. Singapore moved into the third position with 181 deals (14% share), replacing South Korea, which ranked third in 2023 with 335 deals.
In terms of sectors, infrastructure and enterprise software proved to be the taste of the week. Out of the 30 FinTech deals, eight of these were infrastructure and enterprise software companies, including two of the ten biggest deals. All the companies in this sub sector were Deel, Solaris, Quont, Fimple, Neofin, TaxGPT, Trayd and Sotira.
CyberTech was close behind with six deals (Semgrep, 7AI, Riot, Observo AI, Invary and Astra Security) and WealthTech with five (Jump, Khazna, EasyBank, Streetbeat and Scout).
On the topic of WealthTech, a recent dive into the sector found that artificial intelligence (73%) and generative AI (71%) are seen as the most significant disruptive technologies for asset management for the next two to three years. This finding came from PwC’s Global Asset and Wealth Management Survey, which gathered insights from 521 respondents, including 264 asset managers and 257 institutional investors, to assess the impact of disruptive technologies on the industry.
Elsewhere this week, there were three RegTech deals (Semeris, ZeroRisk and Napier AI), two PayTechs (Cashfree Payments and Lynx), two InsurTechs (Openly and XILO), two marketplace lending companies (Froda and Wisetack), one PropTech (hallo theo) and one data & analytics startup (fileAI).
Here are the 30 FinTech funding rounds covered on FinTech Global this week.
Global payroll firm Deel secures $300m secondary investment, hits $800m run-rate
Global payroll and HR platform Deel, a provider of workforce management solutions, has secured a fresh $300m investment from anchor investors, including General Catalyst and a sovereign investor.
The latest investment follows Deel’s milestone announcement of reaching an $800m run-rate as of December 2024, reflecting a 70% year-over-year increase. The company has been profitable for over two years.
Founded in 2019 through Y Combinator, Deel has transformed from a two-product hiring solution into a full-stack workforce management platform. It now integrates HRIS, payroll, compliance, benefits, and performance management into a single solution available across 150 countries. The
InsurTech firm Openly secures $193m to expand homeowners’ insurance
Home insurance startup Openly, which specialises in distributing policies through independent agents, has secured $193m in a growth financing round to fuel its expansion efforts.
The funding round was led by Eden Global Partners, a merchant bank focused on long-term capital solutions, and Allianz X, the investment arm of Allianz, according to InsurTech Insights.
Existing investors, including Advance Venture Partners, Obvious Ventures, Clocktower Technology Ventures, and Point Judith Capital, also participated.
The financing package consists of $123m in equity capital, led by Eden Global Partners, and a $70m senior note from Allianz X. Eden previously led Openly’s Series D round.
Founded in 2021, Openly provides homeowners’ insurance exclusively through independent agents. The company currently operates across 24 states and continues to broaden its reach.
In 2023, Openly generated $301m in written premiums for its carrier partner, Rock Ridge Insurance Company, and further strengthened its underwriting capabilities by partnering with MS Transverse Insurance Company. Openly also operates its own carrier subsidiary, Openly Insurance Company, which reported $16m in earned premiums and a net underwriting loss of $11m in the first nine months of 2024.
The newly raised capital will be used to expand Openly’s homeowners’ insurance offerings and introduce innovative solutions to further disrupt the industry.
The investment will also support the company’s continued growth and strengthen its technological and underwriting capabilities.
Froda secures €150m ($155m) EIF-backed guarantee to expand SME financing across Europe
Froda, a FinTech specialising in SME financing, has expanded its partnership with the European Investment Fund (EIF) by securing an additional €100m in lending capacity.
This builds on an existing €50m guarantee, bringing the total financing support to €150m. The agreement establishes Froda as the first company to secure an EU-wide microfinance partnership with the EIF, enhancing access to credit for small businesses across all 27 EU member states.
The SME financing gap in Europe is estimated at €400bn, leaving many small businesses struggling to access capital for growth and competition. To address this issue, EIF leverages guarantee programmes to expand financing options for SMEs. Froda has partnered with the EIF since 2022 to provide financing to micro-enterprises—businesses with fewer than ten employees—in Sweden. Businesses financed through Froda have shown an average growth of 131% within a year of receiving funding.
With €150m in lending guarantees, Froda now aims to replicate its success on a larger scale, supporting 10,000 SMEs across Europe. The extended agreement is expected to drive economic growth and innovation while improving financial access for micro-enterprises that struggle to secure fair financing.
The agreement also expands opportunities for Froda’s Embedded partners, allowing them to offer EIF-backed loans across the EU. By scaling innovative financial solutions, the partnership supports EIF’s objectives of promoting microfinance, entrepreneurship, and inclusive growth, aligning with the EU’s goals of digitalisation and equitable access to financing.
German Banking-as-a-Service platform Solaris secures €140m ($144.7m) in Series G funding
German Banking-as-a-Service provider, Solaris, has raised €140m in a Series G funding round, with Japanese financial conglomerate SBI Group leading the investment alongside existing client Boerse Stuttgart Group.
Several other investors and strategic partners also participated, providing equity-supportive measures, according to Finextra.
As part of the investment, SBI Group will acquire a majority stake in Solaris, marking a significant shift in the company’s ownership structure. Solaris was previously valued at $1.6bn in 2021.
The Berlin-based firm offers Banking-as-a-Service (BaaS) solutions, enabling companies to integrate financial services into their platforms.
Its offerings include digital banking, payments, lending, and compliance solutions, allowing businesses to offer financial products without needing a banking licence.
The fresh funding will support Solaris in maintaining operations until it reaches profitability. Additionally, the company plans to use the capital to strengthen its core capital base and accelerate market opportunities.
Semgrep bags $100m in Series D to elevate AI-driven code security
Semgrep, an application security platform, has successfully secured a substantial $100m in its Series D funding round.
The round was spearheaded by Menlo Ventures, with significant contributions from existing stakeholders including Felicis Ventures, Harpoon Ventures, Lightspeed Venture Partners, Redpoint Ventures, and Sequoia Capital. This latest injection of capital brings the total funds raised by the company to $204m.
Founded with the mission to revolutionize code security, Semgrep offers a robust AppSec Platform designed to meet the modern challenges of securing complex codebases without hindering the speed of development cycles. The platform distinguishes itself through a high signal-to-noise ratio, prioritizing impactful security measures while maintaining developer productivity and a positive security perception.
The newly acquired funds are earmarked for several strategic initiatives. Semgrep plans to attract top-tier AI and program analysis talent to further enhance its technological lead. Additionally, the investment will be used to broaden the reach of its product offerings beyond the traditional security audience and bolster its Go-To-Market team with industry experts from notable organizations such as Hashicorp and Elasticsearch.
Further enriching Semgrep’s strategic direction, the company has welcomed new expertise into its ranks. Recently, Garrett Souza, former SVP Americas at Matillion and Enterprise Sales Leader at Snyk, has been appointed as Vice President of Sales. Additionally, Mark McLaughlin, ex-CEO of Palo Alto Networks, has joined as an Angel Investor and Advisor, underscoring the industry’s confidence in Semgrep’s trajectory.
Cashfree Payments secures $53m in strategic funding
Cashfree Payments, an Indian payments company, has successfully raised $53m in a funding round.
According to IBS Intelligence, this financial boost was spearheaded by KRAFTON, a Korean digital entertainment leader, alongside continued backing from existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group (UK) Limited (Apis Partners).
The newly acquired funds are set to enhance Cashfree’s payment solutions and expand its market presence. This partnership is expected to harness synergies with KRAFTON, propelling Cashfree to innovate and pioneer across various digital sectors.
Cashfree Payments specializes in offering a broad spectrum of digital payment solutions aimed at empowering Indian businesses. The company provides secure and efficient transaction options across the digital economy, addressing the needs of businesses of all sizes.
The investment will be utilized to accelerate initiatives in cross-border transactions, security innovations, and international growth. Cashfree aims to focus on sustainable and profitable expansion as it scales up its operations and explores new avenues in the digital payments landscape.
Cashfree has also introduced Secure ID, an advanced identity verification system. This new feature includes a robust suite of APIs and KYC components designed to combat the rising tide of fraud. Secure ID streamlines the onboarding and KYC processes by minimizing user input requirements, intelligently verifying identity documents, and effectively detecting anomalies and fraudulent activities.
7AI launches agentic security platform with $36m investment boost
7AI has secured $36m in seed funding from prominent investors including Greylock Partners, Spark Capital, and CRV.
This substantial financial backing marks a significant endorsement of 7AI’s innovative approach to cybersecurity.
The company specializes in agentic security, a cutting-edge field that utilizes autonomous AI agents to handle repetitive security tasks. By deploying these agents, 7AI aims to free up human cybersecurity professionals to focus on more complex and creative aspects of security management.
The funds will be used to advance the development of 7AI’s agentic security platform, which has already been implemented in production across dozens of companies. The platform’s AI agents are designed to perform tasks such as triaging alerts, enriching signals, and investigating threats autonomously and efficiently.
The platform also integrates with customers’ internal policies to provide nuanced and actionable conclusions. This enables a significant improvement in security outcomes by reducing response times and false positives while increasing overall system capacity.
Riot raises $30m to combat AI-driven cyber threats with employee security solutions
Riot, a cybersecurity company focused on employee security solutions, has raised $30m in a Series B funding round.
The round was led by Left Lane Capital, with participation from existing investors Y Combinator, Base10, and FundersClub.
The funding comes as Riot experiences rapid growth, surpassing $10m in annual revenue in 2024. The company has seen triple-digit expansion.
Founded five years ago, Riot provides real-time employee cybersecurity monitoring, helping businesses strengthen their security posture. Its platform detects vulnerabilities such as weak passwords and unsafe file permissions, guiding employees to resolve them through interactive coaching. Riot’s cyber coach, Albert, offers practical security insights via workplace tools like Slack, Microsoft Teams, Google Chat, and email. The company serves over 1,500 organisations, including Mistral AI, Modern Treasury, L’Occitane, Deel, and Intercom.
With the new funding, Riot aims to accelerate international expansion, double its workforce, and introduce new security features. Plans include launching an aggregated security dashboard with enhanced protections against data breaches, infostealers, and social engineering attacks. The company will also expand its awareness training programme and enhance attack simulations.
Lynx raises $27m to enhance healthcare payment solutions
Lynx, a FinTech firm specialising in healthcare payments and administration, has secured $27m in an oversubscribed Series A funding round.
The investment brings the company’s total funding to over $44m since its launch in 2022.
The round was led by Flare Capital Partners, with participation from CVS Health Ventures, McKesson Ventures, and existing backers .406 Ventures, Obvious Ventures, and Frist Cressey Ventures.
Lynx provides a unified platform designed to support healthcare payments, catering to health plans, financial institutions, and benefits administrators.
With the new funding, Lynx aims to expand its operations and accelerate growth in key areas, including Medicare Advantage supplemental benefits, Medicaid value-added benefits, and ICHRA solutions. The company is also enhancing CDH account administration and compliance for health plans and financial institutions, while developing API-driven products to improve consumer experience and operational efficiency.
FinTech firm Wisetack lands $25m funding boost from Trinity Capital for expansion
Wisetack, a FinTech company specialising in pay-over-time financing solutions, has secured $25m in growth capital from Trinity Capital, an alternative asset manager focused on private credit investments.
The funding will support Wisetack’s ongoing expansion efforts, allowing the company to scale its operations and drive further growth.
Wisetack provides consumer financing solutions for home services, enabling customers to pay for essential services such as HVAC, plumbing, and pest control through flexible, instalment-based plans. The platform integrates directly into software tools used by home service providers, streamlining the process for businesses to offer financing options to their customers.
Jump raises $20m to drive AI-powered efficiency for financial advisors
Jump, a provider of artificial intelligence (AI) solutions tailored for financial advisors and financial services firms, has secured $20m in a Series A funding round.
The investment was led by Battery Ventures, with participation from Citi Ventures and existing backers Sorenson Capital and Pelion Ventures Partners.
Founded by FinTech entrepreneurs, Jump has positioned itself as a key productivity tool for advisory firms, serving independent broker-dealers (IBDs), registered investment advisors (RIAs), and solo practitioners. The company has raised $24.6m to date, with this latest round set to fuel its expansion and innovation.
The funding will support Jump’s mission to enhance advisor workflows through AI, enabling automation in meeting preparation, notetaking, compliance documentation, CRM updates, and financial planning data management. The company plans to accelerate product development, expand its suite of AI-powered solutions, and scale its sales and support teams to meet increasing demand.
Jump has rapidly gained traction in the financial services industry, with notable partnerships established with IBDs and RIAs such as LPL Financial, Sanctuary Wealth, Integrated Partners, and Mission Wealth. Since exiting closed beta in January 2024, the company has maintained a monthly growth rate of over 35%.
Savant Growth leads $17m raise for AI-driven accounting firm Qount
Qount, a developer of AI-powered practice management software for public accounting firms, has secured a significant investment to further its growth.
The company, which specializes in a comprehensive suite of management solutions, announced a new funding of $17m. This round was led by Savant Growth, accompanied by funding from Kennet Partners and a substantial co-investment from Qount’s new leadership team.
The company delivers a cloud-based, AI-driven platform that is instrumental in practice management, offering an all-in-one solution that spans CRM, onboarding, collaboration, document management, and more. Qount’s technology integrates tools typically available separately into a unified solution, enhancing efficiency and service delivery in the accounting sector.
The fresh capital infusion will be directed towards accelerating Qount’s growth, further automating practice management and service delivery workflows through advanced AI applications. This move aims to solidify Qount’s position in the market by continuing to innovate and expand its capabilities.
Additional plans include the strategic assembly of a C-level leadership team to steer the company through its next growth phase. Recently, Peter Miele has been appointed as CEO, bringing over two decades of experience in scaling SaaS businesses in the tax and accounting space. Greg Pope has also joined as CMO, with extensive expertise in digital marketing and brand development within the industry.
Egyptian FinTech Khazna secures $16m to expand into Saudi Arabia
Khazna, a Cairo-based FinTech company, has secured $16m in its pre-Series B funding round, bringing its total funding to over $63m.
The round saw participation from global investors such as Quona and Speedinvest, alongside regional investment firms including Aljazira Capital, anb Seed Fund, DisrupTECH, ICU Ventures, Khwarizmi Ventures, and SANAD Fund for MSME, according to a report from TechCrunch.
Khazna is on a mission to provide financial services to Egypt’s underbanked population, particularly low- and middle-income workers. Founded in 2019, the company offers digital financial solutions including salary advances, digital payments, and microloans to help individuals gain access to essential financial services.
Khazna focuses on workers earning three times less than Egypt’s minimum wage, integrating financial services directly into payroll systems for approximately 100,000 users. For an additional 400,000 users, the company provides lending solutions, including credit for gig workers and pensioners.
The new capital will be used to support Khazna’s regional expansion, particularly its planned entry into Saudi Arabia. Additionally, the company is preparing to apply for a digital banking licence in Egypt, which would allow it to accept customer deposits.
AI security firm Observo AI raises $15m to tackle data overload with agentic AI
Observo AI, an AI-native data pipeline company, has secured $15m in seed funding to advance its solutions for managing the rising costs and complexity of observability and security data.
The round was led by Felicis and Lightspeed Venture Partners.
The company specialises in optimising data pipelines using machine learning and agentic AI, which dynamically adapts to shifting data environments. This approach enables enterprises to manage the exponential surge in AI-generated data more efficiently while reducing processing costs by over 50% and improving detection accuracy and incident response times.
The fresh funding follows growing enterprise adoption of Observo AI’s platform, with clients such as Bill, Informatica, and Harbor Freight Tools relying on its technology to handle petabytes of data daily. The company has recorded a remarkable 600% revenue growth quarter-over-quarter since launching nine months ago, underscoring strong demand for its AI-powered data management solutions.
The challenges posed by AI-driven data growth are significant, with a 2024 KPMG study revealing that nearly 50% of enterprises suffered security breaches, often due to poor data quality and false alerts.
Observo AI was co-founded by Gurjeet Arora and Ricky Arora, who previously worked at Rubrik. Their firsthand experience with security and AI-driven data challenges inspired the company’s mission to streamline enterprise data workflows.
Singapore-based fileAI raises $14m to revolutionise unstructured data management
Singapore-based fileAI, an enterprise artificial intelligence (AI) company, has raised $14m in a Series A funding round.
The investment was led by Illuminate Financial, Antler Elevate, Insignia, Heinemann Group, and other backers, according to a report from TNGlobal. This latest funding brings fileAI’s total capital raised to just over $20m.
The company specialises in automating unstructured data processing at scale, leveraging advanced AI technology to simplify data extraction, organisation, and enrichment across multiple document types. Its platform is used by global enterprises such as MS&AD, MSIG, DirectAsia, Toshiba, KFC, Pizza Hut, and Ernst & Young, and operates in key markets including Singapore, Australia, Thailand, Hong Kong, Japan, and the United States.
With this latest investment, fileAI aims to expand its proprietary AI capabilities to help enterprises cut operational expenses while improving efficiency. The company plans to enhance product development to deepen its expertise in AI-driven file management.
Turkish FinTech Fimple raises $12m to advance core banking solutions
Berlin’s hallo theo secures €10m ($10.3m) seed funding to revolutionise property management
Berlin-based hallo theo, a digital property management company, has raised €10m in a seed funding round led by global software investor Insight Partners.
The investment is set to strengthen the company’s market presence and enhance its proprietary technology development.
Germany’s property management industry is plagued by inefficiencies, with outdated technology and slow processes causing frustration among both property owners and tenants. hallo theo aims to modernise the sector by applying a technology-first approach. Using automation and AI, the company is improving data accuracy, service response times, and the overall management experience.
The new funding will be used to expand hallo theo’s reach across Germany and accelerate the development of its digital platform. By leveraging AI-driven solutions, the company seeks to streamline property management services, offering a more efficient and transparent experience.
XILO raises $7.2m to enhance digital quoting solutions for insurance agencies
San Diego-based XILO, an InsurTech company providing quoting software for independent insurance agencies, has raised $7.2m in its latest Series A funding round.
The investment round was backed by Altos Ventures, Cove Fund, Navigate Ventures LLC, New Stack Ventures, and Splash Capital. This latest financing brings XILO’s total funding to $13.2m, according to InsurTech Insights.
Founded in 2017, XILO specialises in digital intake forms that integrate seamlessly with Agency Management Systems (AMS) and raters. Its platform automates data entry, enabling insurance agencies to enhance efficiency and boost conversion rates.
With the fresh capital, XILO plans to further develop its technology, expand its market reach, and continue refining workflows for independent insurance agencies.
The company aims to streamline the quoting process and enhance its digital solutions to better serve the industry.
Brazilian Neofin raises $7m to transform finance management with AI
Neofin, a pioneering AI-powered SaaS platform, has recently announced a significant milestone in its journey.
The Brazilian startup, which specializes in transforming the cumbersome process of accounts receivable into a streamlined, efficient operation, has successfully closed a US$7m seed funding round. This investment is notably one of the largest seed rounds directed towards a female-led startup in Brazil.
The round was led by Quona Capital and Upload Ventures, showcasing strong support from prominent venture capital firms. Additionally, Neofin has garnered backing from a diverse group of investors, including 17-Sigma, 1616, Far Out Ventures, BFF, Norte, and Canaan. The round also featured contributions from notable angel investors such as Cesar Carvalho of Wellhub/Gympass and Patrick Sigrist, known for his involvement with iFood and Nomad.
Neofin’s primary focus is on the accounts receivable and collection cycles. Its main offering is an advanced, customizable, and automated accounts receivable workflow, seamlessly integrated with clients’ enterprise resource planning (ERP) systems and banks. This integration allows for tailored segmentation of debtors, ensuring that each receives the most appropriate communication and actions based on their individual profiles.
The newly acquired funds will be instrumental in expanding Neofin’s capabilities. The company plans to develop new features for its platform, such as a 100% touchless renegotiation portal, an advanced customer relationship management (CRM) system for accounts receivable, and the integration of an AI-based large language model with WhatsApp for communication with debtors. Additionally, the investment will enable Neofin to enhance its data, machine learning, and AI departments, further refining the customization of communication and debtor segmentation.
AI tax co-pilot TaxGPT secures $4.6m to transform accounting efficiency
TaxGPT, a San Francisco-based FinTech company specialising in AI-powered tax solutions, has secured $4.6m in funding to enhance its AI tax co-pilot platform for accounting and tax firms.
The investment round included backing from Rebel Fund, Mangusta Capital, Y Combinator, Launch, iSeed Ventures, Converge Fund, TRAC AI/VC Unicorn Fund, Goodwater Genesis, and CRV Disrupt Fund. Notable investors such as Kulveer Taggar, Jason Calacanis, and the co-founders of Truebill also participated.
Founded in 2023 by husband-and-wife duo Kashif Ali and Isabella Maceda-Ali, TaxGPT was born out of a personal tax-related challenge. While trying to determine their tax filing status shortly after getting married, they struggled to find an answer quickly. This inspired them to build an AI-powered solution that could streamline tax research for individuals. However, as they developed the technology, they realised a greater demand from accounting firms and businesses, leading to a pivot towards professional tax compliance solutions.
The company’s AI-driven co-pilot is designed to boost the productivity of tax professionals by tenfold, delivering instant responses to complex tax queries with human-verified accuracy. The platform can generate tax memos, automate responses to IRS notices, and assist tax professionals in handling client emails efficiently. Currently, over 10,000 CPAs, tax lawyers, and enrolled agents use the service, collectively supporting 250,000 clients.
With this latest funding, TaxGPT plans to accelerate product development, invest in sales and marketing efforts, and expand its engineering team. The goal is to enhance its AI capabilities and expand the platform’s reach to more firms in need of an automated tax research solution.
Trayd secures $4.5m to enhance construction payroll solutions
Trayd, a pioneering construction payroll platform, has successfully completed a $4.5m equity fundraise.
This significant financial boost reflects the growing market demand and the early adoption by key customers in the construction industry. The venture capital affiliate of Suffolk Construction, Suffolk Technologies, spearheaded the seed round, with additional backing from Bloomberg Beta and Y Combinator.
The company is focused on automating the back-office functions that burden the construction sector. Trayd’s comprehensive platform offers a suite of tools including payroll, scheduling, field tracking, HR, and accounting services, aimed at simplifying the daily challenges faced by trade contractors. By integrating these services, Trayd addresses the inefficiencies of using disjointed systems like paper sign-in sheets and Excel for scheduling.
The fresh capital will be utilized to accelerate product development, expand the team, and scale the platform to meet the needs of a broader customer base. Trayd’s innovative approach is designed to eliminate redundant systems and centralize crucial project and labor data, enhancing compliance and operational efficiency for contractors.
The platform, crafted by co-founder and CTO Cara Kessler, is particularly adept at managing the complexities of union payrolls and certified payroll reporting. This capability allows contractors of all sizes to engage in larger, federally-funded projects. The platform also supports non-union contractors with robust calculations for fringe benefits and prevailing wage overrides.
Semeris raises $4.3m to expand AI-powered legal document analysis in finance
Semeris, a specialist in AI-driven legal document analysis for financial institutions, has raised $4.3m in a funding round led by Puma Growth Partners, a firm known for providing growth capital to small and medium-sized businesses.
The investment round was led by Puma Growth Partners, with participation from independent investors. The funding will support Semeris in expanding its platform and strengthening its sales team to meet the growing demand for AI-driven legal solutions in structured finance.
Founded in 2020 by Peter Jasko, former head of JPMorgan’s European CLO team, and Sam Daroczy, co-founder and former CEO of Verba Technologies, Semeris aims to revolutionise legal document analysis.
Semeris provides AI-powered tools that streamline legal review processes, reducing the time and cost associated with analysing complex financial documents. Its solution replaces manual review processes with an AI-enhanced system that delivers faster, more precise results while ensuring compliance with financial industry regulations. The company’s library includes over 5,000 structured finance transactions across various asset classes, such as Collateralised Loan Obligations (CLOs), Asset-Backed Securities (ABS), and Mortgage-Backed Securities (MBS).
With this fresh capital, Semeris plans to expand beyond CLOs and ABS/MBS into other asset classes, including leveraged loans and private credit agreements. The company aims to enhance its AI-powered solutions to further optimise legal workflows for structured finance professionals, offering increased accuracy and reduced turnaround times for deal analysis.
Irish firm ZeroRisk secures $4m to boost global compliance solutions
ZeroRisk, an Irish firm specialising in compliance and cyber risk management tools for the payment industry, has secured $4m in a funding round.
According to Finextra, the investment was spearheaded by Elkstone, a notable player in venture capital. Founded just last year, in 2023, ZeroRisk is becoming a key resource for acquiring banks, payment service providers, digital sellers, and other financial institutions.
The company is known for its advanced software that simplifies compliance with the Payment Card Industry Data Security Standard and leverages the NIST Cyber Security Framework. By offering real-time analytics and dynamic risk scoring, ZeroRisk helps organisations pinpoint vulnerabilities and tackle cyber risks proactively.
The new capital will be channelled into broadening ZeroRisk’s international footprint, particularly focusing on the US market. Here, the company already provides services to several Tier 1 acquiring banks. According to Gary Nolan, co-founder and CEO of ZeroRisk, this funding is a crucial step for the company. “ZeroRisk’s platform sets a new standard for merchant risk management at acquiring banks, expanding beyond cybersecurity and compliance to address broader merchant risks and other critical compliance standards,” he explained.
Cybersecurity firm Invary secures $3.5m seed round to advance runtime integrity solutions
Cybersecurity company Invary, which specialises in Runtime Integrity solutions, has secured a $3.5m seed funding round.
The investment was led by SineWave Ventures and Flyover Capital, with participation from Hyperlink Ventures and KCRise Fund.
Invary focuses on verifying the runtime integrity of entire systems, ensuring advanced security and confidentiality. Its patented technology, licensed exclusively from the National Security Agency (NSA), brings high-assurance federal security standards into the commercial sector.
The new funding will accelerate the launch of Invary’s Windows Kernel Runtime Integrity solution and its upcoming eBPF Runtime Integrity verification, complementing the firm’s existing Linux security technology. These solutions will support real-time integrity verification for Trusted Execution Environments (TEE), such as AMD’s SEV-SNP, enabling the detection of sophisticated cyber threats and zero-day malware.
As part of the investment, Dr. Patricia Muoio, general partner at SineWave Ventures and former chief of the NSA’s Trusted Systems Research Group, has joined Invary’s board of directors.
The company previously raised a pre-seed round, also led by Flyover Capital, which has now reaffirmed its confidence in Invary’s technology and market potential.
Astra Security clinches $2.7m for AI-driven cybersecurity enhancements
Astra Security, a cybersecurity firm, has recently successfully closed a $2.7m funding round.
The investment was spearheaded by Emergent Ventures, alongside contributions from the Neon Fund, Better Capital, Blume Ventures, and PointOne Capital. This financial infusion marks a significant milestone for the company, renowned for its robust security platform that includes continuous vulnerability scanning and AI-driven pentesting.
Established in 2018, Astra Security has carved a niche in the cybersecurity landscape by developing advanced solutions that proactively identify vulnerabilities in cloud environments. Their platform leverages AI to empower developers and security engineers with the tools needed to craft effective security detections, setting a high standard in the tech security sector.
The newly acquired funds are earmarked for further development of Astra’s capabilities to enhance cloud security and expand its AI functionalities. The company is set to intensify its focus on utilizing AI to streamline and strengthen security measures, enabling quicker and more efficient vulnerability detection.
Astra Security’s commitment to innovation is evident in its operational success, having identified nearly 5,500 vulnerabilities daily for its clients last year. With the ongoing evolution of cyber threats, the company anticipates a threefold increase in this capacity by year’s end, reflecting the critical role of AI in modern cybersecurity strategies.
Sotira raises $2m to modernise the $500bn overstock procurement industry
Sotira, an AI-powered surplus inventory management platform, has raised $2m in funding to modernise the overstock procurement industry, which is valued at $500bn.
The investment round saw participation from Unusual Ventures, Night Capital, K5 Global, and Ritual Capital, with previous backing from Soma Capital.
Founded by e-commerce entrepreneurs who recognised the inefficiencies in surplus inventory management, Sotira is tackling an industry that still relies on outdated processes like spreadsheets and manual coordination. The US alone holds $800bn in surplus inventory, with 25% of all stock remaining unsold, it claims. The company aims to digitise and optimise this process using AI-powered workflow automation.
Sotira leverages AI-driven software that streamlines surplus inventory offloading, transactions, and logistics. The platform enables businesses to cut inventory review times in half, reduce waste, and improve financial returns. The company claims customers can recoup up to 50% of costs and save five figures monthly by using its solution instead of traditional liquidation methods.
The startup has already partnered with major players in instant commerce, grocery delivery, and consumer packaged goods (CPG) brands across the US. Additionally, it has secured grants from the State of California and is collaborating with Alameda County to address surplus inventory in line with sustainability-focused legislation such as SB 1383.
Tunisian FinTech EasyBank secures $370k to fuel international expansion
Tunisia-based FinTech EasyBank, a digital banking platform, has secured an investment of $370,000 from undisclosed investors, according to a report from Wamda.
The company, founded in 2023, aims to simplify access to financial services through its banking solutions.
The investment, equivalent to 1.2 million Tunisian dinars, will support EasyBank’s plans to expand globally, with a particular focus on the Middle East, North Africa, and France.
EasyBank’s platform is designed to improve financial accessibility by offering personalised advisory services and streamlining access to loans and banking products. By leveraging advanced AI, the company ensures that customers receive tailored financial recommendations and seamless banking experiences.
The startup has a goal of redefining the banking experience through a unified vision across markets.
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Napier AI secures funding to enhance AI-powered compliance solutions
Napier AI has announced a new investment from Marlin Equity Partners, a global investment firm with over $9bn in capital commitments.
This partnership is poised to accelerate Napier AI’s market presence through intensified research and development efforts and support its global go-to-market strategy.
Since its inception in 2015 in London, Napier AI has been at the forefront of integrating advanced data science with compliance-first AI technology. The company’s Continuum platform is trusted by over 100 global institutions, including notable names like HSBC, State Street, and Starling Bank, to combat sophisticated financial crime threats efficiently.
This funding aims to further Napier AI’s development of cutting-edge AI technologies, enhancing its capabilities in detecting financial crimes across various regions. The investment underscores the growing demand for effective AI solutions in tackling anti-money laundering and counter-terrorist financing.
Additional plans include the expansion of customer-centric tech hubs, which will cater to regional needs and help maintain high standards of regulatory compliance. The investment from Marlin marks a significant milestone in Napier AI’s journey towards becoming a leader in the global anti-financial crime market.
AI-powered wealth platform Streetbeat secures investment from 3Lines’ Orbit Fund
Streetbeat, an AI-driven wealth management platform, has secured an investment from 3Lines Venture Capital’s Orbit Fund.
The company, based in Palo Alto, California, provides automated investment solutions tailored for retail investors, wealth managers, and brokers.
The funding comes from 3Lines Venture Capital, a Denver-based firm that focuses on early-stage investments in AI-powered companies, Web3.0, and the future of work. The amount invested in Streetbeat was not disclosed.
Streetbeat’s platform leverages AI to optimise wealth management through its Wealth Copilot and AI Agents, providing real-time market insights, portfolio rebalancing, and compliance support for financial professionals. The company has gained traction among global wealth managers following its success in the B2C market, where over 80% of individual investors have reported profitability and trading volumes have risen by more than 20%.
FinTech firm Scout secures new funding to enhance financial tools for college athletes
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