Sector Updates

Kuala Lumpur-based Jirnexu has announced a $2m pre-Series B, just seven months after closing its Series A round.

Indian consumer lending startup Credit Fair, has raised an undisclosed amount of debt from Northern Arc Capital, according to a report from VCCircle.

Pruvo, a startup which helps customers rebook hotels at a cheaper price, has reportedly secured $1.1m in its seed funding round.

Chelsea Avondale, a pioneering home insurance group renowned for its underwriting using scientific risk models, has secured series C funding from an ensemble of prominent investors.

Bubble Insurance Solutions, a digital insurance broker, has partnered with brokerage and franchise platform JPAR Real Estate to bring embedded home insurance to home buyers.

FundingShield has announced a strategic partnership with SitusAMC, in a bid to tackle the rising challenges of wire and title fraud that have plagued financial institutions in recent years.

UK and Israel-based securities lending startup Sharegain has brought its outside investment to $12m through a new VC-backed funding round.

PropTech platform Ribbon has raised $330m in a mix of equity and debt and the opportunity to secure a further $220m.

As everyone from challenger banks to regulators are dealing with the global COVID-19 outbreak, the UK’s financial watchdog has given insurance companies a clear indication how they should conduct themselves during the crisis.

Swedish neobank Northmill has repurchased bonds with a nominal value of SEK5.5m (£4.77m). The repurchase concerns the challenger bank’s senior unsecured bonds with a nominal outstanding amount of SEK500m (£41.48m).