$140m BlueVoyant deal steals headlines in this week’s FinTech funding rounds

December 1, 2023

A $140m investment secured by cyber security firm BlueVoyant stole headlines in this week’s FinTech funding rounds.

In an uncharacteristically quiet week, only 13 deals were secured, but despite this they still brought in a solid $351.5m, which was a vast improvement over last week’s paltry sum of $103.5m in a week marred by inactivity from the US firms due to Thanksgiving.

The CyberTech firm was the only company to secure a deal this week that reached the much-vaunted nine figures mark, with UK-based PayTech company Paysend bagging the best-of-the-rest spot, albeit with less than half the total of BlueVoyant at $65m.

Overall, it was a strong weekend for the PayTech space, with three deals, making up a quarter of this week’s capital injections. However, that wasn’t enough for top spot as the FinTech realm led the way, taking its customary spot as the most active sector with six deals – the highest of which was CapitalOS who bagged $39m.

In terms of geography, the USA bounced back after losing its grip on the top spot over Thanksgiving, reclaiming its position at the head of the funding round table with a prosperous week, securing four deals. However, the Stateside businesses didn’t have it all their own way when securing deals, as the European company’s continued their strong momentum.

The perennial names were both France and the United Kingdom, who combined outdid the might of the US, with five deals. The UK bagged three, one of which went to Belfast-based firm Cloudsmith, while French firms landed two tranches.

Other nation’s that featured this week were Singapore, Sweden, Switzerland, and Australia with one deal each respectively.

Here are this week’s FinTech deals.

BlueVoyant bags $140m Series E and snaps up cybersecurity firm

BlueVoyant, a cyber company known for illuminating, validating, and mitigating internal and external risks, has raised $140m in investment.

This substantial investment was led by existing investors Liberty Strategic Capital, a notable private equity firm, and ISTARI, a cybersecurity investor and advisor founded by Temasek. Eden Global Capital Partners, an affiliate of Eden Global Partners, also played a crucial role as a strategic advisor during this funding round.

The core of BlueVoyant’s offering lies in its expertise in cybersecurity. The company is renowned for providing comprehensive solutions that address the full spectrum of cyber risks.

Global money transfer innovator Paysend lands $65m investment

Paysend, a leading money transfer FinTech, has successfully raised $65 million in a new funding round.

According to PYMNTS, the company, renowned for simplifying global money transfers, has achieved this latest financial milestone amidst a series of strategic partnerships and expansions.

This funding round, announced on November 29, marks a significant leap in Paysend’s journey. The investment is not just a financial boost but a validation of the company’s vision and strategy.

CapitalOS lands $39m boost for embedded spend management technology

CapitalOS, a leader in the FinTech industry specialising in embedded spend management solutions for B2B platforms, has successfully completed a significant funding round, amassing $39m.

This substantial financial injection was led by Group 11 and saw participation from various esteemed investors, including Upper90, Vera Equity, and Slow Ventures.

CapitalOS stands at the forefront of spend management innovation. The company has carved a niche in providing embedded spend management infrastructure, primarily targeting B2B platforms serving small businesses.

Lassie fetches €23m in funding: Leading the pack in preventive pet insurance

Lassie, a trailblazing InsurTech startup, has successfully raised €23m in a Series B funding round led by Balderton Capital. This significant investment marks a milestone in the journey of Lassie, a company redefining pet insurance with a preventive twist.

The funding round was not only spearheaded by Balderton Capital but also saw participation from previous investors such as Felix Capital, Inventure, Passion Capital, and Philian, led by H&M Chair Karl-John Persson. This latest influx of capital brings Lassie’s total funding to an impressive €36.5m.

Mozaic.io secures $20m Series A investment led by Volition Capital

Mozaic.io, a payments platform revolutionising the way creative professionals handle revenue and royalty splits, has secured a $20m Series A.

This significant financial boost comes courtesy of the Boston-based growth equity firm, Volition Capital. This investment marks a pivotal moment for Mozaic.io, following its rapid adoption as the only platform enabling automatic split payments for collaborators worldwide.

At the heart of Mozaic.io’s service is a unique offering for the creator economy, which is set to reach an estimated $480bn by 2027.

Hexa’s groundbreaking €20m investment to pioneer diverse startups across multiple sectors

Hexa, a forward-thinking startup studio, has recently announced a significant financial milestone, securing €20m in funding.

This investment marks a new chapter for Hexa, currently known for launching approximately six companies annually. The fresh capital injection is poised to supercharge their startup creation rate, aiming to launch 30 startups annually by 2030.

This €20 million funding round, the first since 2016, will catalyze Hexa’s growth and diversification. With a portfolio already spanning the future of work, web3, and FinTech sectors, this investment will empower Hexa to venture into new territories, including AI, health, climate, education, proptech, agritech, and cybersecurity.

Payground secures $19.7m in series A funding, revolutionising healthcare FinTech

PayGround, a trailblazer in the healthcare FinTech payments sector, recently closed a $19.7m oversubscribed Series A financing round.

This funding round was spearheaded by SixThirty, with notable participation from Rally Ventures, IA Capital Group, FCA Venture Partners, and Plug and Play Ventures.

This substantial investment underscores the growing confidence in PayGround’s unique proposition in the healthcare payments landscape. Over the past three years, the company has recorded an impressive 560% growth in annual revenue, a testament to its effective strategy and the market’s need for such a solution.

Rich Data secures $17.5m in Series B for North American expansion

Australia-based Rich Data, a firm in the AI decisioning platform sector, recently announced a significant financial milestone.

The company, renowned for its innovative approach in aiding banks to make efficient and safe lending decisions, has successfully secured $28 million (US$17.5 million) in its Series B funding round.

This substantial investment was led by Westpac and cloud banking provider nCino, with additional support from a reinvestment by Australian funds management firm BMYG and new Singapore-based investor, Octava Fund.

Belfast’s Cloudsmith secures $11m in Series A2 funding

Cloudsmith, a Belfast-headquartered software supply chain management firm, has successfully raised Series A2 financing of $11m.

This funding positions the company to expand its operations globally, providing essential services to top-tier software firms such as Shopify, PagerDuty, Font Awesome, HP, and EnterpriseDB.

The investment, spearheaded by MMC Ventures, aims to enhance Cloudsmith’s offering as the most robust software supply chain platform worldwide. The company’s unique platform offers organizations a singular and reliable source for managing all their software assets, crucial for developing AI products of the future.

WeeFin raises €7M to revolutionise ESG strategies for European finance

WeeFin, a pioneering company in the FinTech industry, has announced securing a substantial €7M in Series A funding.

This impressive financial injection was led by European investment fund IRIS and Ring Capital, with further contributions from existing investors Asterion Ventures and Investir&+. The funding round is expected to reach a total of €10M by the year’s end, including non-dilutive funding.

Wind.App secures $3.8m in pioneering cross-border payment venture

Wind.App, a cutting-edge FinTech startup, recently announced a substantial $3.8m pre-seed funding round.

This notable investment was co-led by Global Founders Capital and Spartan Group, with significant contributions from Saison Capital, Alumni Ventures, and Tiny VC. The funding round marks a significant step forward for this innovative company.

Operating in the FinTech sector, Wind.App specializes in streamlining cross-border payments. It sets itself apart as a self-custodial smart-contract wallet, which simplifies the complexities of Web3 into a user-friendly interface. This approach, combined with the power of blockchain technology, ensures instant settlement times, lower transaction fees, and offers users access to yields over 5%.

Kroo leads FinTech innovation, exceeding £2m crowdfunding target with global support

Kroo, a digital bank, has closed its crowdfunding round today, amassing a staggering £2,009,559.12. This figure more than doubles its initial target of £1m, demonstrating a strong public demand for better banking solutions.

Attracting 2,702 investors from over 45 countries, Kroo’s funding round saw an average investment of over £740. This widespread participation underscores the digital bank’s appeal and its potential to redefine the banking industry. Andrea De Gottardo, CEO of Kroo, highlighted the round’s success as a testament to the public’s appetite for a banking model that prioritises customer interests over traditional profit extraction methods.

Brightside AI bags $1m from Social Links for advanced cybersecurity

Brightside AI, a pioneering firm in the cybersecurity landscape, has recently marked a significant milestone by securing $1m in funding.

The company has successfully secured a substantial investment of $1 million from Social Links, a key player in OSINT infrastructure.

According to Tech EU, this investment will bolster Brightside AI’s innovative SaaS platform, specifically designed to counteract social-engineering cyberattacks, which have become increasingly prevalent with the widespread adoption of generative AI.

Keep up with all the latest FinTech news here.