Banking Infrastructure

MENA-based banking-as-a-service provider NymCard has closed a fresh funding round on $22.5m to support boost its presence in the region.

Backbase, which created an engagement banking platform, has raised €120m in growth equity funding from Motive Partners.

Codat, an API software developer, has received $100m in its Series C funding round, which was led by JP Morgan Growth Equity Partners.

Software company Sage Group has acquired UK-based cash flow forecasting software platform for SMBs and accountants Futrli.

CogniCor, which develops AI-powered business automation and learning platforms, has received fresh investment.

LHV UK, a banking services provider to over 200 FinTech and crypto companies, has raised €35m in funding, as it applies for a UK banking licence.

Sanlo, which provides financial services to gaming and app companies, has collected $10m in its Series A, alongside the launch of a $200m investment fund for game developers.

Line, a company building a modern inclusive financial network, has raised $25m in Equity and Debt, in a funding round led by Massive.

Buy Now, Pay Later (BNPL) healthcare startup Walnut has raised $110m in a Series A funding round led by Gradient Ventures.

Garentii, a Germany-based security deposit replacement insurance MGA, has raised €1.9m in seed funding led by Greenlight Re.