The FinTech sector has recorded its second week of investment below $500m across 20 deals reported on by FinTech Global.
Up to $434m was recorded across the 20 deals this week, with the largest FinTech deal being recorded by Moove, a global mobility FinTech that raised $100m in a Series B raise.
Here are this week’s deals.
Moove secures $100m in Series B funding round
Moove, the global mobility FinTech, has raised $100 million in a Series B funding round, bringing its total valuation to $750m.
This round saw participation from ride-hailing giant Uber and Mubadala, who led Moove’s previous funding round in 2023.
The substantial investment underscores Moove’s commitment to democratising access to vehicle ownership for mobility entrepreneurs worldwide, particularly in regions facing vehicle financing shortages.
BaaS leader Solaris announces fresh €96m funding
Solaris SE, a frontrunner in the BaaS industry, has successfully completed a €96 million Series F funding round.
This funding round not only involves a hefty capital injection but also includes a financial guarantee that could reach up to €100 million in capital equivalent.
Established in 2015, Solaris has been at the forefront of the BaaS market. The company’s innovative approach is built on a proprietary modular B2B technology stack and a scalable licensing system.
$60m boost for BigID to lead AI data security and compliance market
BigID, an AI-augmented data security, compliance, and privacy firm, has announced the closure of a significant $60m growth funding round.
This round was led by Riverwood Capital, with notable participation from Silver Lake Waterman and Advent.
The company, founded in 2018, has redefined the landscape of data security by introducing a universal security, compliance, and privacy solution that caters to all data types, including structured, unstructured, and semi-structured, across various environments such as the public cloud, SaaS, and on-premise data centers.
Coterie secures $27m to simplify small business insurance
Coterie, an InsurTech MGA simplifying small business insurance, has secured a significant boost in funding, announcing a raise of $27m.
The oversubscribed round includes investments from renowned players such as Hiscox, along with continued support from existing investors Intact Ventures, Weatherford Capital, and RPM Ventures, among others.
With the infusion of fresh capital, Coterie aims to further elevate its offerings, delivering increased value to agents and brokers through the introduction of new insurance products, more sophisticated underwriting processes, and further automation of policyholder servicing.
FinTech Innovator NX Technologies rakes in $24m
NX Technologies, an automative payments firm, has secured approximately $24m in a recent Series B investment.
According to PYMNTS, this impressive round was spearheaded by PayPal Ventures, marking a major vote of confidence in NX Technologies’ vision and capabilities. The company, headquartered in Germany, is at the forefront of transforming automotive payments through its cutting-edge digital payment management platform, bezahl.de.
The funding will be instrumental for NX Technologies as it seeks to consolidate its stronghold within the German market. Moreover, the company has set its sights on broader horizons, planning to penetrate new markets across Europe.
AccessPay secures $24m in strategic funding
AccessPay, a leading bank integration provider, announced today that it has closed a strategic funding round, amassing $24m.
The round was led by the Silicon Valley-based venture capital firm True Ventures, with contributions from a consortium including Manchester-based investment firm Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea.
This capital injection marks a significant milestone for AccessPay, which stands at the forefront of streamlining financial processes for corporations and institutions.
The company specializes in integrating a myriad of bank and finance applications into a unified interface, simplifying corporate and institutional banking processes. Through its innovative platform, AccessPay addresses the complex challenges of fraud and error prevention, bank statement data, reconciliation automation, and ISO 20022 data transformation.
CyberSaint’s $21m Series A fuels global cyber risk management innovation
CyberSaint, a cyber risk management solutions firm, has announced a milestone in its growth trajectory, securing $21m in Series A funding.
The round was led by Riverside Acceleration Capital (RAC), with additional investments from Sage Hill Investors, Audeo Capital, and BlueIO. This financial infusion is set to catapult the company’s customer momentum, spearhead market expansion, and bolster the innovation of its flagship CyberStrong platform, distinguished by its patented Artificial Intelligence (AI) technology.
At the heart of CyberSaint’s operation is the CyberStrong platform, an AI-powered tool that empowers enterprises to optimize their cyber risk posture and enhance executive alignment.
Cybersecurity innovator Sevco Security lands $17m
Sevco Security, a cloud-native Cyber Asset Attack Surface Management (CAASM) platform, has announced a significant milestone in its growth trajectory.
The company specialises in delivering the industry’s most accurate, continuously updated security asset inventory, aiming to enhance organisational protection. In a recent development, Sevco Security has raised $17m in new funding. This financial injection was led by SYN Ventures, with additional contributions from .406 Ventures, Accomplice, Bill Wood Ventures, and Washington Harbor Partners.
Trade finance innovator Marco Financial raises $12m
Marco Financial has recently completed a significant milestone in its journey to support SME exporters in Latin America.
Founded in 2020 by entrepreneurs Jacob Shoihet and Peter D. Spradling, Marco has swiftly become a cornerstone in the trade finance arena, employing a team of over 50 people across its offices in Miami, New York City, and Montevideo, Uruguay.
The platform has successfully closed a $12m Series A funding round. This financial infusion was led by IDC Ventures, with contributions from a variety of investors including IDB Lab (the innovation and venture laboratory of the Inter-American Development Bank Group), Barn Invest, SquareOne Capital, Arcadia Funds, Florida Funders, Miami Angels, Kayyak Ventures, and Neer Ventures, among others.
Maverick Ventures leads $11.5m investment in BlueFlag Security
BlueFlag Security, a software development lifecycle (SDLC) security firm, has announced an $11.5 million seed funding round.
The round was led by Maverick Ventures and Ten Eleven Ventures, with Pier 88 Investment Partners also participating. This financial injection is earmarked for the advancement of BlueFlag’s innovative SDLC security and governance platform, which promises comprehensive, identity-centric protection from the coding phase through to production.
Float eyes transformed payments with $11m backing
Float has recently secured a significant financial boost after the firm was granted an $11 million facility by Standard Bank.
This funding is set to facilitate the rollout of Float’s unique card-linked instalment platform, supporting its accelerated growth plans over the next four years.
The startup stands out in the fintech space for its proprietary technology, which allows shoppers to buy now and split their payments into up to 24 interest-free, fee-free monthly instalments. This service utilises the available limit on consumers’ existing Visa or Mastercard credit cards.
The CareVoice secures almost $10m in funding to fuel global expansion plans
The CareVoice, a prominent global embedded health enabler for insurers, has successfully concluded its Series B funding round, raising close to $10m.
The round was spearheaded by Apis Insurtech Fund I, affirming the company’s position as a frontrunner in revolutionising health engagement for insurers worldwide.
The newly secured funding will fuel CareVoice’s innovation efforts, particularly in advancing its CareVoiceOS platform. By enhancing scalability and reducing implementation costs, the platform aims to empower insurers to seamlessly implement personalised health and wellness solutions for their customers.
Zone secures $8.5m seed funding
Zone, an emerging powerhouse in Africa’s financial technology landscape, announced a significant milestone in its growth trajectory with the completion of an $8.5m oversubscribed seed funding round.
This financial infusion was spearheaded by renowned international VC investment firms Flourish Ventures and TLcom Capital, marking a pivotal moment for the company.
At the heart of Zone’s operations is its mission to revolutionise the payment infrastructure within the continent and beyond.
Tarsal eyes transformation of security data management with $6m funding
Tarsal, a security data movement and quality platform, has recently concluded its seed funding round, raising $6 million.
The investment was spearheaded by Harpoon Ventures and Mango Capital, with additional participation from Y Combinator, Abstract Ventures, and Backend Capital. This funding round marks a significant milestone for Tarsal, underlining its commitment to transforming the security data management landscape.
Tarsal’s innovative platform is designed to meet the evolving needs of security teams that are modernising their data management strategies. Traditional security platforms are increasingly inadequate for handling the exponential growth of data.
Zed introduces pioneering “no-fee” credit card, securing $6m in funding
Philippine neobank Zed introduces pioneering “no-fee” credit card, securing $6m in funding
In a significant move towards democratising financial services in the Philippines, Zed, a credit-led neobank, has launched the country’s first “no-fee” credit card, according to a report from FinTech News. This innovative offering eliminates several common charges, including foreign transaction fees, interest, and annual fees, marking a potential shift to more accessible financial services for the financially underserved in the region.
The introduction of this credit card has sparked considerable interest, with Zed announcing over twenty thousand sign-ups within just two weeks of launching an early access programme.
Revolutionary FinTech Kemet Trading raises $5m
Kemet Trading, a pioneering FinTech company, has successfully raised $5m in a financing round led by Further Ventures.
Kemet Trading is revolutionising the trading of digital asset options, futures, and perpetuals. It offers an unprecedented institutional single-access point into the digital asset derivative ecosystem.
Since its inception, Kemet has facilitated over $1bn of notional trading volume on its platform. The platform stands out for its seamless access to liquidity venues across both centralized finance (CeFi) and decentralized finance (DeFi), comprehensive trade lifecycle management, advanced risk management tools, and efficient post-trade workflows.
Codezero secures $3.5m in seed funding
Codezero, an innovator in secure enterprise microservices development, has announced a $3.5m seed funding round.
The round was led by Ballistic Ventures, a venture capital firm focused solely on funding cybersecurity entrepreneurs and innovations. This funding is a testament to Codezero’s mission to revolutionize the development of microservices across multi-cloud environments, with additional support from a distinguished group of angel investors and advisors.
Czech FinTech Flowpay raises €2.1m in seed funding
Flowpay, a pioneering Czech FinTech firm, has recently announced a successful €2.1m seed funding round.
This significant financial boost was supported by Techstars, along with notable Czech venture capitalists such as Soulmates Ventures and DEPO Ventures, according to a report from EU Startiups. The round also saw contributions from influential angel investors including Mark Ransford, Martin Herrmann, Kartik Varma, Allard Luchsinger, and others.
LeakSignal clinches $1.6m in seed funding
LeakSignal, a provider of microservices cybersecurity solutions, has successfully secured $1.6 million in an oversubscribed seed funding round.
The investment was led by Shasta Ventures, with contributions from TFX Capital, Blu Ventures, and Cyber Mentor Fund. LeakSignal is recognised for its exceptional approach to protecting sensitive data during its most vulnerable phase—in transit.
The company’s innovative solutions are designed to meet the security needs of modern architectures such as microservices, serverless frameworks, and large language models (LLMs).
Kenyan InsurTech mTek raises $1.25m
mTek, a Kenyan-based InsurTech firm, has secured an investment of $1.25m (KSh 167.8m) to advance its expansion plans within the Kenyan and East African insurance markets.
The funding round was led by Verod-Kepple Africa Ventures and Founders Factory Africa, reaffirming mTek’s position as a frontrunner in leveraging technology to transform the insurance landscape, according to InsurTech Insights.
This recent investment follows a previous funding round in 2022, where mTek received $3 million from Finclusion Group to drive growth initiatives, expand into new African territories, launch digital products, and bolster its user base.
HP Spring Studios leads pre-seed round for digital receipt pioneer Receiptable
Receiptable, a pioneering FinTech firm, has successfully secured its first institutional investment in a pre-seed funding round led by HP Spring Studios.
The pre-seed round was spearheaded by HP Spring Studios, a venture fund supported by the Al Waha Fund of Funds and the international investment firm Hambro Perks, according to a report from Wamda.
With this financial injection, Receiptable is set to embark on an ambitious plan that includes recruiting new talent, further developing its digital platform, and launching its first partnership with a bank in Bahrain.
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