There were only 23 deals recorded across the FinTech sector this week by FinTech Global with $399m being raised overall.
The dominant sector this week was split between FinTech and CyberTech on five deals each. PayTech deals and InsurTech deals came in at two each, with AI, blockchain and PayTech rounding off the list.
Both European and US-based firms pulled in eight deals this week, MENA recorded three, India and APAC pulled in two and Latin America pulled in one.
Research from FinTech Global this week found that FinTech funding halved in 2024, The year closed with 1,050 deals, marking a 62% drop from the 2,787 deals recorded in 2023 and a 68% decline from the 3,295 deals seen in 2020.
Here are this week’s deals.
FinTech lender Tala secures $150m
Tala, a global financial infrastructure company focused on providing accessible financial services, has secured a $150m debt facility from Neuberger Berman, a leading investment management firm.
The funding will support Tala’s expansion efforts in Mexico.
The debt facility, with an initial committed capital of $75m, allows Tala to access up to $150m. This marks the company’s largest capital markets transaction to date and highlights its operational strength and growth potential in the region.
InsurTech leader Peak3 secures $35m
Peak3, a global InsurTech company specialising in cloud-based insurance solutions, has raised $35m in a Series A funding round to accelerate its expansion across the UK and European markets.
The funding round, which will support Peak3’s ambitious growth plans, was backed by investors keen to drive digital transformation in the insurance sector.
The company has already established its European headquarters in Dublin, Ireland, with a focus on key markets including the UK, DACH (Germany, Austria, Switzerland), France, Spain, Italy, Benelux, Scandinavia, and Turkey.
NymCard secures $33m
NymCard, an embedded finance platform operating across more than 10 countries in the MENA region, has raised $33m in a Series B funding round.
The investment was led by QED Investors, marking the firm’s most significant commitment in the region and its first lead investment in the Gulf Cooperation Council (GCC).
The funding round also saw participation from existing investors, including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq, and Endeavor. Additionally, Oraseya Capital joined as a new investor, reinforcing confidence in NymCard’s role in shaping the future of embedded finance in MENA.
Hexa secures €29m financing
Hexa, a company focused on launching and scaling startups, has secured a €29m financing agreement with four major European banks—Belfius, Caisse d’Epargne Hauts de France, BNP Paribas Fortis, and CIC.
The funding will support the company’s goal of significantly expanding its startup creation efforts over the coming years.
The financing, structured as a revolving credit facility, follows Hexa’s €35m equity raise in 2024. The new capital injection is expected to provide liquidity for further expansion, strengthening its ability to launch and support new ventures.
VIA secures $28m
VIA has successfully secured a $28m Series B investment, positioning itself prominently in the cybersecurity landscape.
This Boston-based company is advancing the field of data and identity protection through its innovative, decentralized platform, designed to meet the rigorous standards of entities like the U.S. Department of Defense.
The investment round saw contributions from leading and strategically aligned new investors including Bosch Ventures (lead), BMW i Ventures, and MassMutual Ventures, alongside Sentinel Global. These new investors join forces with Westly Group and select existing stakeholders, completing a minority investment round that was notably oversubscribed.
Crossmint secures $23.6m
Crossmint, an all-in-one blockchain platform for businesses, has secured $23.6m in a funding round led by Ribbit Capital.
Other investors include Franklin Templeton, Nyca, First Round, and Lightspeed Faction. The investment follows a year of rapid growth, with Crossmint’s subscription revenue surging by 1,100% in 2024.
The company provides businesses with tools to develop blockchain applications using minimal code. Its platform enables companies to integrate wallets, tokenization, payments, and onramps without requiring blockchain expertise or digital asset holdings.
Multiply Mortgage secures $23.5m
Multiply Mortgage, a firm known for integrating homeownership benefits into employment packages, has closed a $23.5m Series A funding round.
This round was led by Kleiner Perkins, with additional contributions from A*, Box Group, Mischief, and Workshop, raising the company’s total funding to $27m.
Founded in 2022, Multiply Mortgage is redefining the traditional mortgage lending landscape. The company has developed an AI-native mortgage origination platform complemented by expert mortgage advisors.
Town secures $18m
Town has raised $18m in a seed funding round to enhance its tax support services for small businesses.
The round was led by First Round Capital, with participation from Conviction, Alt Capital, Defy, Depth, Mischief, and WndrCo. Prominent angel investors, including Adam D’Angelo, Christina Cacioppo, Helen Min, Immad Akhund, Soleio Cuervo, and William Hockey, also contributed.
This capital injection will accelerate Town’s efforts to refine its AI-powered tax automation, expand its services, and grow its product, go-to-market, and accounting teams.
ALT21 bags $12.5m Series A
ALT21, a financial technology firm specialising in foreign exchange (FX) transactions, hedging, and payments, has raised $12.5m in an oversubscribed Series A funding round.
The latest investment brings its total funding to $44m and marks a significant step in the company’s expansion efforts.
The funding round was backed by a network of super angel investors, many with extensive experience in scaling global businesses. This approach to securing capital positions ALT21 among the largest Europe-based firms to raise funding through super angels, it claims.
VulnCheck raises $12m Series A
VulnCheck, a cybersecurity company specialising in exploit intelligence, has secured $12m in a Series A funding round.
The investment was led by Ten Eleven Ventures, with participation from Sorenson Capital and In-Q-Tel (IQT), bringing the firm’s total funding to nearly $20m.
The company provides real-time exploit intelligence solutions designed to help businesses and government organisations prioritise vulnerabilities more effectively.
FinTech startup ClearGrid raises $10m
ClearGrid, a FinTech firm specialising in AI-driven debt collection, has emerged from stealth with $10m in funding to modernise debt resolution in the MENA region.
The company aims to address inefficiencies in traditional collection practices by replacing outdated, aggressive tactics with an AI-powered, data-driven approach that benefits both lenders and borrowers.
The $10m funding was secured across two rounds. The pre-seed round was co-led by Raed Ventures and Beco Capital, while the seed round was co-led by Nuwa Capital and Raed Ventures.
Protectt.ai lands Series A investment
Protectt.ai, a leading provider of AI-powered mobile app security solutions, has secured INR 76Cr ($8.7m) in a Series A funding round led by Bessemer Venture Partners.
The investment will fuel the company’s efforts to enhance its AI-driven security platform, accelerate product development, and expand its operations internationally, with a focus on the US, the Middle East, and the Asia-Pacific region.
The funds will also be allocated to strengthening Protectt.ai’s cybersecurity capabilities, particularly in AI security, and to recruiting niche talent in the field.
AI-driven cyber firm Orion Security raises $6m
Orion Security, an innovative cybersecurity company, has successfully completed a $6m Seed funding round.
According to CTech, the investment was spearheaded by Pico Partners and FXP, with additional contributions from Underscore VC and notable cybersecurity experts, including founders of Perimeter 81 and the CISO of Elastic.
Specializing in AI-driven data protection, Orion Security is at the forefront of addressing the escalating issue of data breaches, many of which are perpetrated by insiders. The rise of generative AI and cloud computing has intensified these security challenges, exemplified by incidents like the notable ChatGPT-related breach at Samsung and infiltration by North Korean state-backed hackers.
ResiQuant raises $4m
InsurTech startup ResiQuant, which specialises in property risk assessment, has raised $4m in a seed funding round led by LDV Capital.
Additional investors include Foothill Ventures, Pear VC, Alumni Ventures, and strategic angel investors, according to InsurTech Insights.
The fresh capital will support ResiQuant’s mission to transform how property insurers evaluate and manage catastrophe risks.
Qlarifi secures £1.4m pre-seed funding
Qlarifi, a FinTech start-up focused on improving credit reporting for Buy Now, Pay Later (BNPL) transactions, has successfully closed its pre-seed funding round.
The company raised £1.4m in the round, which saw participation from HoneyComb Asset Management, Carthona Capital, and a group of angel investors, including former Australian rugby captain John Eales.
Qlarifi’s platform aggregates BNPL consumer credit data, offering lenders a real-time view of customers’ borrowing and repayment history across multiple providers.
Identity verification startup Vouchsafe secures £1m
Vouchsafe, a UK-based identity verification platform, has raised £1m in a pre-seed funding round to address global ID poverty and improve financial inclusion.
The oversubscribed round was led by Bethnal Green Ventures (BGV) and included participation from Biometric Ventures, Fuel Ventures, and Seed X Liechtenstein. Angel investor Andrew Chevis, CEO of CitizenCard, also joined the round, bringing three decades of industry experience.
Vouchsafe is focused on tackling the challenges faced by people without official identification, a problem that affects an estimated one billion individuals worldwide.
HUMBL raises $500k
HUMBL has secured a $500k investment from Quail Hollow Capital.
The investment was made through the purchase of a Convertible Promissory Note, providing HUMBL with capital to support key business operations. The funding will be used to cover public company operating costs, including audits, accounting, legal, and compliance expenses.
HUMBL operates in the North American and Latin American markets, leveraging its access to physical assets and distribution networks to create economic opportunities. The company has undergone a strategic transformation, shifting from technology assets to a shareholder value-driven model under the leadership of CEO Thiago Moura.
Knocknoc secures seed funding
Knocknoc, a Sydney-based cybersecurity software company, has successfully secured a seed funding round.
The investment was led by US-based venture capital firm Decibel Partners, with additional support from CoAct and SomethingReal.
The company announced a substantial seed investment, aimed at accelerating their market presence. This round saw participation from notable investors including Decibel Partners, CoAct, and SomethingReal, bolstering Knocknoc’s financial and strategic backing.
Ekuinas invests in Bluesify
Ekuiti Nasional Berhad (Ekuinas) has announced a strategic investment in Bluesify Solutions, a leading Malaysian Managed Security Service Provider (MSSP).
Founded in 2012 by Izman Ibrahim and Faroze Mohd Salleh, Bluesify offers a comprehensive suite of cybersecurity services. These include a 24/7 Managed Cyber Detection and Response Centre, Managed Threat Intelligence and Threat Hunting, Cyber Incident Response Services, and Cyber Resilience and Consulting Services.
The company caters to a diverse clientele, including financial institutions, energy and infrastructure firms, healthcare providers, government agencies, and statutory bodies.
HITRUST accelerates cybersecurity growth
HITRUST has secured a growth investment from Brighton Park Capital to further its expansion and innovation in cybersecurity and information risk assurance.
The investment aims to support HITRUST’s mission as global concerns over cyber threats and regulatory compliance continue to rise. Despite the new backing, HITRUST will remain under the leadership of CEO Daniel Nutkis, with no changes to its strategic direction. The funding will be directed toward expanding its international presence, venturing into new verticals, and enhancing its product portfolio.
EquiLend boosts securities finance technology with BNY investment
EquiLend has secured a minority investment from an affiliate of The Bank of New York Mellon Corporation (BNY).
This investment underscores BNY’s commitment to EquiLend’s mission and its innovative technological solutions.
BNY, along with eight other significant financial institutions, has invested in EquiLend to support the firm’s push for greater innovation and efficiency across the securities finance sector.
