Total funding in the FinTech sector increased this week, but the sector still has a slow start to the year.
A total of $425.8m was raised across 24 FinTech deals this week, which is up from last week’s total of $336m over 17 deals.
No deals surpassed the $100m mark this week. WealthTech company Komainu raised the largest round, pulling in $75m through a strategic investment led by Blockstream Capital Partners. The UK-based digital asset custodian raised the funds to support its international expansion and further the development of its platform.
The second biggest deal of the week was another WealthTech platform. Sygnum, which is headquartered in Singapore, closed a $58m oversubscribed strategic growth round. This investment brought the company’s valuation to over $1bn, making it the latest FinTech to join the unicorn club. Sygnum is a digital asset banking group that plans to expand its market presence in the EU/EEA and launch regulated operations in Hong Kong.
There were two other WealthTech companies to secure funding this week. The first of these is Indonesia-based Skor, which raised $6.2m in a pre-Series A funding round led by Argor Capital. The other WealthTech company is Habits, a US-based marketplace aimed at helping young families research, compare, and connect with vetted financial advisors. The startup raised $1.1m in its pre-seed.
The European WealthTech sector dropped to a five-year low in 2024, according to recent research from FinTech Global. Deal activity dropped by 71% YoY going from 924 down to 272. Similarly, the total capital raised was down by 65%, going from $15.6bn in 2023 to just $5.4bn in 2024.
Another sector that proved popular this week was infrastructure and enterprise software. There were four deals in total, including the third biggest deal of the week. Float Financial, a Canadian business finance platform, raised CAD 70m ($48.5m) in its Series B funding round.
The other infrastructure and enterprise software companies are Hyperline, Nilus and Borderless AI.
It proved a diverse week for sectors. There were three PayTechs (Recharge, Reshop and Klearly), three CyberTechs (Orchid Security, BforeAI and Wultra), and three RegTechs (Quantifind, Arva AI and Archive Intel).
The RegTech sector is off to a great start to 2025. FinTech Global recently sat down with some industry experts to get their thoughts on what the year has in store for the sector. Watch the video here.
The other sectors represented this week were marketplace lending (HGO and Juno AI), data and analytics (Exos and Validis), and ESG FinTech (BeZero Carbon).
As for the geographical spread of the deals, it was dominated by the US and Europe. The US was home to the lion share of deals, accounting for ten deals. These companies are Orchid Security, Quantifind, Nilus, BforeAI, Exos, Rainbow, Klearly, Arva AI, Archive Intel and Habits.
On top of these, Puerto Rico was also home to one of the deals – Olé Life.
The UK and Canada were the only others to see more than one deal completed this week. The UK companies to raised funds are Komainu, BeZero Carbon, Juno AI and Validis. The Canadian companies are Float Financial and Borderless AI.
Canada had a strong 2024 for FinTech growth. Recent research from FinTech Global found that Canadian FinTech investments grew by 8% in 2024 YOY. A total of 113 deals were completed over the year, a 27% drop from the 155 deals closed in 2023. Despite the decline in deals, total funding reached $2.2bn, an 8% rise on the previous year. This also resulted in the average deal size increasing to $19.5m.
As for the other countries represented, they are Singapore (Sygnum), the Netherlands (Recharge), France (Hyperline), Indonesia (Skor), Ireland (HGO) and Czechia (Wultra).
Here are the 24 funding rounds covered on FinTech Global this week.
Blockstream invests $75m in Komainu to transform institutional digital asset solutions
Komainu, a regulated digital asset custodian and service provider, has raised $75m in a strategic investment led by Blockstream Capital Partners.
This funding round, subject to regulatory approvals, marks a significant step in Komainu’s efforts to enhance its global presence and adopt innovative technologies to better serve institutional clients.
Founded by institutions for institutions, Komainu merges traditional financial expertise with cutting-edge digital asset services. Its offerings include multi-asset support, enterprise-grade governance, and compliance across multiple regulatory jurisdictions.
Komainu plans to leverage this funding to accelerate its international expansion and integrate Blockstream’s advanced technologies into its operations.
To strengthen the strategic partnership, Adam Back, PeterPaul Pardi, and Nicolas Brand from Blockstream will join Komainu’s board of directors.
Sygnum achieves unicorn status with $58m funding round led by Fulgur Ventures
Sygnum, a global digital asset banking group, has raised $58m in an oversubscribed strategic growth round.
This funding round brings the company’s valuation to over $1bn, marking its entry into unicorn status.
The investment was led by Fulgur Ventures, a digital asset-focused venture capital firm, and included contributions from new and existing strategic and financial investors. Sygnum team members also participated, reflecting strong internal confidence in the company’s vision and strategy.
Sygnum specialises in providing institutional-grade digital asset banking, asset management, and tokenisation services. Its platform supports a diverse client base, including institutional investors, corporates, and decentralised ledger technology foundations, offering secure, regulated solutions tailored to the rapidly evolving digital asset landscape.
The company plans to deploy the new funding to expand its market presence in the EU/EEA and launch regulated operations in Hong Kong. Sygnum will also pursue strategic acquisitions and bolster its operational resilience through investments in compliance and risk management.
Recent achievements underpinning Sygnum’s growth include a significant increase in trading activity, with 2024 revenue across its digital asset and traditional trading products surpassing the previous year by Q3. The firm’s B2B platform, used by over 20 banks, delivers regulated digital asset services to a substantial portion of Switzerland’s population.
In July 2024, Sygnum introduced Sygnum Connect, a 24/7 multi-asset settlement network, and later launched Sygnum Protect, a custody solution for institutional clients to secure collateral while continuing to trade on major exchanges.
Float Financial secures CAD$70m ($48.5m) in Series B to transform Canadian business finance
Float Financial, a Canadian business finance platform, has announced the successful closure of a CAD$70m Series B funding round.
The investment round was led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys, and existing investor Garage Capital. This latest financing brings the company’s total funds raised in the past 12 months to CAD$120m, including a CAD$50m credit facility secured in February 2024.
The platform offers modern financial services and software designed to support businesses in managing spending, cash flow, and expenses efficiently. Its suite of products includes corporate cards, bill payment solutions, expense management tools, and high-yield accounts, available in CAD and USD. Float’s user base has grown significantly, with over 4,000 businesses now relying on the platform to streamline operations.
The funds will be used to accelerate Float’s product expansion, attract top talent, and solidify its leadership across Canada.
Recharge accelerates M&A strategy with €45m ($46.2m) ABN AMRO facility
Recharge, a European leader in online prepaid payments, has secured a €45m facility with ABN AMRO.
The funding aims to bolster its mergers and acquisitions (M&A) strategy, positioning the company to drive consolidation within the rapidly evolving prepaid payments industry.
The €45m funding, combined with Recharge’s existing cash reserves, creates a substantial financial foundation for strategic acquisitions. The company plans to complete two to three M&A deals in 2025 as part of its growth strategy.
ABN AMRO emerged as the preferred financial partner after a competitive tender process, which saw multiple institutions vying to collaborate with Recharge.
Recharge’s unified digital solutions cater to the growing shift from offline to online payments, with innovative use cases redefining the prepaid payments market. The company’s services have seen impressive traction, achieving 30% year-on-year revenue growth in 2024. With growing demand for its digital prepaid solutions, Recharge is targeting €1bn in sales by 2025.
The company intends to leverage the new facility to expand its market presence, open new segments, and strengthen its position as a leader in the prepaid payments sector. This funding is a critical step in Recharge’s journey to reshape the industry through strategic acquisitions.
Orchid Security secures $36m to transform identity security with AI
Orchid Security, a leader in identity-first security orchestration, today announced it has raised $36m in seed funding.
The round was co-led by Team8 and Intel Capital, supported by CapitalOne and industry leaders such as Jeff Williams (FireEye, Cisco, McAfee), Dror Davidoff (Aqua), and Zohar Alon (Dome9, Check Point).
Orchid Security is focused on simplifying the complex landscape of identity security management. Enterprises today manage an average of 1,200 applications across various environments, creating a fragmented array of identity and access management tools that are difficult to integrate and maintain.
Orchid’s platform aims to streamline this process, providing continuous discovery and assessment of authentication and authorization flows across all applications, thus ensuring a consistent identity security posture.
The newly acquired funds will be utilized to accelerate the development of Orchid’s platform, expand its sales and support teams, and boost its marketing efforts. The company is set to scale its innovative solutions across multiple sectors including finance, manufacturing, healthcare, and retail, with customers like Costco and Repsol already on board.
Additional insights into the company’s future plans reveal a strategic focus on using Large Language Models (LLMs) to enhance the platform’s capability to manage identity systems more effectively. These models are designed to understand and rationalize identity flows in applications, aiding in their seamless integration into enterprise systems without the need for manual coding.
BeZero Carbon’s $32m raise to enhance carbon market transparency
Quantifind secures $22m funding to expand AI compliance solutions
Quantifind, a leader in AI-powered financial crime intelligence, has announced it raised $22m in its latest funding round.
This investment, which included participation from Deloitte Ventures and Stephens Group as well as existing investors such as Citi Ventures, S&P Global, DNS Capital, and USVP, will support the company’s global expansion and the launch of its Payments Risk Intelligence solution.
The new funding comes after a year of significant growth, with Quantifind reporting a 200% increase in 2024. The company is renowned for its Graphyte platform, which delivers advanced transaction screening for payments. This innovative solution helps financial institutions detect and mitigate financial crime risks in real-time, ensuring legitimate payments are processed without disruption.
Quantifind’s Graphyte platform leverages cutting-edge AI technologies, including GPU-based transformer models, real-time data engines, and large language models, to achieve unparalleled speed, accuracy, and scalability. Its new Payments Risk Intelligence tool specifically targets inefficiencies in traditional systems, such as high false positive rates and limited scalability, by providing precise transaction monitoring and name screening capabilities.
The newly secured capital will accelerate Quantifind’s international reach and enable further development of its compliance solutions.
Reshop lands $17m funding to redefine refunds with new CEO Anthony Eisen
Reshop, a platform revolutionising refunds for both consumers and merchants, has announced the appointment of Anthony Eisen as its chief executive officer.
The company also announced it raised $17m in a funding round led by Matrix Partners, with participation from Sound Ventures, Woodson Capital, and Touch Ventures. This investment will support Reshop’s ambitions to scale its platform and expand its market reach.
Reshop is designed to improve the post-purchase experience by enabling customers to access refunds instantly, which drives higher satisfaction and sales for retailers. Its current partners include high-profile brands such as Alo Yoga, Steve Madden, Dolce Vita, Alala, and P.J. Salvage.
The recent funding will be utilised to accelerate Reshop’s go-to-market efforts and enhance its scaling initiatives. With early results already showing significant impact—50% of customers making repeat purchases within 24 hours—Reshop is poised for rapid growth.
Anthony Eisen brings extensive experience to his role, having co-founded and led Afterpay, the FinTech giant known for pioneering Buy Now, Pay Later services. Eisen’s background also includes roles as chief investment officer at Guinness Peat Group, where he oversaw investments in financial services and technology companies.
PayPal Ventures leads $13m Series B round for InsurTech Olé Life
Olé Life, a leading Latin American InsurTech, has raised $13m in a Series B funding round led by PayPal Ventures.
Other investors participating in the round include Mundi Ventures, AV8, and Advent Morro.
The company, which focuses on redefining financial protection for families in Latin America, offers digital insurance products designed for simplicity and long-term stability. Olé Life plans to use the fresh capital to accelerate its growth by establishing local operations in key markets across the region.
In addition to geographic expansion, Olé Life aims to diversify its offerings beyond life insurance. It plans to introduce new products tailored to the unique needs of Latin American consumers, such as whole-family protection plans and solutions addressing region-specific financial challenges.
Olé Life founder and CEO Michael Carricarte said, “As the first fully-digital life insurance product in Latin America, this funding is a testament to the incredible progress we’ve made in building a platform that resonates with our customers.
FinTech start-up Hyperline secures $10m to revolutionise automated billing
Hyperline, a next-generation monetisation platform, has announced a $10m seed extension round led by Index Ventures.
The funding aims to support the platform’s mission to help small and medium-sized businesses streamline revenue management. This extension brings the company’s total seed funding, including previous investment from Adelie Capital, to $14m.
Hyperline offers a cutting-edge billing platform that addresses the complexities of modern hybrid revenue models, often underserved by traditional providers. With features including automated pricing, seamless workflows, and compatibility with various currencies, the platform caters to businesses generating up to $100m ARR.
Since its inception in 2022, Hyperline has quickly gained traction, growing its client base by 20 times over 18 months. The company serves over 150 businesses, including Infinit, Veesion, Gladia, Qobra, Ocus, and ScorePlay.
The fresh funding will enable Hyperline to expand its commercial operations, scale its distribution engine, and support millions of businesses globally.
Nilus secures $10m funding to revolutionise AI-driven treasury management
Nilus, a proactive AI-powered treasury management platform, has raised $10m in its latest funding round.
The investment was led by Felicis and Vesey Ventures, with participation from Cerca Partners and existing backers, including Bessemer Venture Partners, Better Tomorrow Ventures, and BTV. This round brings Nilus’ total funding to $18.6m.
The company, co-founded by FinTech veterans Daniel Kalish, formerly of PayPal, and Danielle Shaul, previously with Fundbox, simplifies treasury operations for businesses ranging from mid-sized firms to publicly traded companies. Its platform is trusted by clients such as Alloy, Taboola, Made In Cookware, and Planned Parenthood, managing billions in cumulative cash.
Nilus aims to use the fresh capital to accelerate the development of its AI-powered platform.
The platform’s unique approach integrates treasury and cash workflows into a single tool, enabling collaboration across finance teams and delivering AI-powered insights. By replacing traditional treasury solutions like spreadsheets, Nilus offers finance leaders advanced tools to optimise liquidity, manage working capital, and mitigate financial risks.
In 2024, Nilus significantly expanded its platform, growing its customer base and introducing AI-driven tools to improve financial planning accuracy.
The company also appointed Matthew Harlan, former treasury leader at Toast and Samsara, as chief treasury officer to drive innovation and strengthen its industry presence.
Cybersecurity firm BforeAI secures $10m to scale predictive attack intelligence
BforeAI, a cyber company specialising in predictive attack intelligence and digital risk protection, has raised $10m in a Series B funding round.
The round was led by Titanium Ventures, with participation from existing investors SYN Ventures, Karista, and Addendum Capital. This latest funding brings BforeAI’s total investment to over $30m.
The company’s innovative PreCrime platform leverages behavioural predictive intelligence to preempt cyberattacks by an average of 18 days, boasting a false positive rate of just 0.05%. It monitors 98% of the internet to identify threats before they materialise, enabling organisations to safeguard their data, IT/OT networks, digital assets, and reputation.
BforeAI also offers a breach protection pledge, the PreCrime Guarantee, which reimburses customers up to 10 times the value of their service contract in case of a failure by its predictive solution.
The fresh capital will support BforeAI’s expansion into the utilities, pharmaceutical, and healthcare sectors. The company also plans to enhance its PreCrime™ platform, scale its sales resources, and strengthen partnerships to further its reach.
HGO commits $9m to Exos and €4m to Antaria in latest growth-stage investments
Hamilton Global Opportunities has announced two strategic investments that align with its focus on high-potential technology-driven companies.
The firm has expanded its involvement with Exos Financial, a US-based financial institution platform that leverages advanced technology to disrupt institutional finance. HGO increased its commitment to Exos through a convertible loan note, bringing its total investment in the company to $9m.
Founded in 2018 by Brady Dougan, former Credit Suisse CEO, Exos combines cutting-edge data and analytics with a scalable, interconnected platform to deliver comprehensive financial services.
In addition, HGO has completed a €4m investment in Antaria Holding, an Ireland-based alternative lending platform specialising in pharmacy services. Antaria focuses on supporting independent pharmacies, offering financing and business management solutions through its proprietary technology platform. While currently targeting the French market, the company has ambitions to expand its business model across Europe, aiming to become the preferred partner for pharmacies.
Rainbow raises $8m to expand small business insurance offerings
Rainbow, a digitally-enabled managing general underwriter (MGU) specialising in small business insurance, has announced the close of an $8m Series A funding round.
The funding will support Rainbow’s expansion plans, enabling it to broaden its specialised underwriting approach to additional business verticals.
Rainbow has already launched its second insurance programme in select US states, with plans for a nationwide rollout in the coming months.
The round was led by Zigg Capital, with the financing finalised in Q4 2024.
Founded in 2022, Rainbow addresses the unique challenges of the small commercial insurance market.
Its platform has demonstrated strong initial success with its flagship product, an admitted business owner’s policy (BOP) tailored specifically for the restaurant industry.
Currently, this programme operates in 24 states, with expansion into states like New York planned shortly.
The company’s proprietary technology, including its “continuous underwriting” risk monitoring software, is central to its innovative approach to risk management.
The new capital will be used to expand Rainbow’s footprint across additional insurance verticals and markets, enhance its proprietary technology, and attract top-tier talent to its team.
Rainbow’s technology platform provides agents and brokers with a seamless quote-to-bind experience and incentivises policyholders to adopt prudent operational practices. By leveraging a data-driven continuous underwriting framework, Rainbow enhances portfolio assessment, improving accuracy and reducing loss ratios.
Indonesian FinTech Skor raises $6.2m to transform credit access
Indonesian FinTech company Skor Technologies, the creator of Skorlife and Skorcard, has raised $6.2m in a pre-Series A funding round led by Argor Capital.
The round also saw participation from both existing investors, including QED Investors and Saison Capital, as well as new backers such as Digital Currency Group, according to a report from e27.
This latest funding brings Skor’s total capital raised to over $12m. The new funds will support the company’s growth plans, including scaling its operations, expanding its team with key talent, and achieving its ambitious target of crossing $100m in transaction volume by 2025.
Skor Technologies is dedicated to tackling Indonesia’s underpenetrated consumer credit market. With credit card usage in the country at less than 3%—a stark contrast to neighbouring nations such as Thailand at 8% and Malaysia at 20%—Skor sees significant potential to improve financial inclusion.
Skor Technologies is tackling some of Indonesia’s most significant challenges in financial inclusion and credit access through the strategic use of advanced technology and data.
Central to the company’s mission is a commitment to building trust with its customers. Its first product, Skorlife, launched in 2022, is a free financial planning app designed to help Indonesian consumers manage their financial reputation. In 2024, Skor introduced Skorcard, an innovative credit card solution that reimagines how consumers engage with credit cards.
Klearly raises €6m ($6.1m) seed funding to disrupt in-person payment systems
Klearly, known for its mission to revolutionise in-person payments, has secured €6m in a seed funding round.
The round was led by Global PayTech Ventures, Antler Elevate, and Shapers, with participation from notable angel investors, including the former CEO of Mollie and former COO of Adyen.
Klearly replaces outdated, bank-supplied hardware with data-driven technology that works on any device, including Android, Apple, and modern terminals. By integrating payment solutions directly into SaaS platforms, the company allows small and medium-sized business (SMB) merchants to streamline operations, eliminate complex contracts, and simplify pricing structures.
The fresh capital will fuel Klearly’s expansion into new European markets, enabling its SaaS partners to deliver seamless in-person payment solutions to SMB merchants.
Klearly has already achieved significant milestones, including onboarding 4,000 merchants and achieving a 500% growth in payment volume in 2024. The company’s flagship offering, Tap to Pay, enables merchants to securely accept payments on everyday devices such as smartphones. Klearly was notably selected by Apple as the first FinTech globally to launch Tap to Pay on iPhone, a partnership that highlights its innovative edge.
HR disruptor Borderless AI raises $5m, bringing total funding to $32m
Borderless AI, a Toronto-based company specialising in AI-powered HR solutions, has announced a $5m extension to its previously raised $27m seed round, bringing total funding to $32m.
The extension saw participation from Cohere co-founders Aidan Gomez and Ivan Zhang. Cohere’s large language model (LLM), optimised for enterprise use cases, underpins Borderless AI’s platform.
In addition to the funding, Borderless AI launched HRGPT, an AI search engine. HRGPT allows employees and HR managers to search internal and external data sources, and Borderless AI’s knowledge base to get instant answers to complex HR questions. Its capabilities include generating employment agreements, job descriptions, and compensation benchmarking, freeing HR teams to focus on strategic tasks.
Borderless AI focuses on streamlining HR processes through generative AI, enabling businesses to automate tasks such as employee onboarding, payroll, and international payments. The company also provides enterprise search solutions that connect organisations’ applications and databases, simplifying knowledge management for HR teams.
The newly secured funding will support Borderless AI expand its enterprise search product.
Arva AI secures $3m in Google-led funding to enhance KYB and AML automation
Google’s Gradient Fund has taken a significant step in the RegTech industry by leading a $3m seed investment in Arva AI, a startup specializing in the automation of AML and KYB compliance for banks and FinTechs.
According to Finextra, Google’s venture arm was joined by prestigious investors including Y Combinator, Amino Capital, Olive Tree Capital, and a group of FinTech angel investors.
Arva AI, based in the burgeoning tech hub of Silicon Valley, aims to disrupt the financial services sector with its advanced AI-driven platform. The platform promises to significantly reduce the time and labour involved in KYB processes by turning diverse, unstructured data from various sources such as registries, social media, websites, and documents into streamlined, actionable risk assessments.
Furthermore, Arva AI’s technology integrates AI document intelligence capabilities, enhancing fraud detection and data extraction. This enables banks and FinTechs to conduct business onboarding in mere seconds, all while adhering to stringent compliance standards.
The startup plans to allocate the newly acquired funds towards aggressive product development and expanding its market presence, aiming to set a new standard in business verification processes.
Additional details about the investment indicate a strong belief in Arva AI’s approach to modernizing compliance operations, which is poised to transform how financial institutions manage risk and onboarding.
Czech cybersecurity startup Wultra raises €3m ($3.1m) to combat quantum threats
Czech cybersecurity firm Wultra, known for its advanced post-quantum authentication solutions, has raised €3m in a Seed+ funding round.
The funding round was led by Tensor Ventures, with co-leadership from Elevator Ventures, the venture capital arm of Raiffeisen Bank International. Returning investor J&T Ventures also participated.
Wultra develops mobile-first software and hardware authentication solutions designed to provide robust security against quantum-level attacks. Trusted by major European financial institutions like Raiffeisen Bank International, Erste Digital, and OTP Bank, the company’s tools combine quantum-resistant cryptography with ease of deployment.
The fresh funding will be used to expand Wultra’s post-quantum authentication capabilities and accelerate its global presence.
Archive Intel raises $1.5m to expand AI-driven compliance solutions
Habits Inc. secures $1.1m to connect millennials with financial advisors
Habits Inc., a marketplace aimed at helping young families research, compare, and connect with vetted financial advisors, has announced the close of its $1.1m pre-seed funding round.
The round was led by Atlanta Ventures, following a successful private beta that included over 50 financial advisory firms and hundreds more on the company’s waitlist.
Habits offers a matchmaking platform designed to simplify the process of finding financial advisors. The platform requires users to verify their identity, securely link bank accounts, and complete a survey to define financial goals and preferences. A proprietary algorithm then provides tailored advisor profiles, complete with certifications, experience, specialties, and direct calendar links.
The new funding will be used to triple the size of the team, with hires planned across community, growth, engineering, and marketing functions. Additionally, the company plans to invest further in product development, including new features for financial advisors and enhanced data analytics capabilities.
Led by CEO and co-founder Jack Boudreau, a former J.P. Morgan banker turned social media influencer, and co-founder Veera Budhi, an experienced developer of financial platforms, the team brings a strong combination of industry knowledge and innovation.
Fuel Ventures leads $1m investment in Juno AI to revolutionise SME lending
Fuel Ventures, a UK-based venture capital firm, has spearheaded a $1m investment round in Juno Technologies, the developer behind Juno AI.
The generative AI-powered operating system is designed to transform loan processing for lenders and brokers specialising in business and property finance.
The investment round, led by Fuel Ventures, included contributions from Zinc and other angel investors.
With this funding, Juno Technologies plans to introduce its innovative loan processing solutions to the market, aiming to significantly reduce processing times and costs. Juno AI employs advanced artificial intelligence to automate traditionally manual tasks, enhancing efficiency and accuracy in loan origination and packaging processes.
Juno Technologies’ flagship product, Juno, is a loan packaging AI agent tailored to onboard small business clients efficiently. It guides applicants through the loan process, collects necessary documentation, enriches profiles with third-party data, and ensures all information is accurate and complete for lenders’ decision-making teams. The system is designed to streamline workflows, saving significant manhours and boosting successful application rates.
Validis secures investment from Citi and Barclays to transform business lending
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