WealthTech

Alternative investment platform CAIS has joined the unicorn club following a $225m investment round led by private equity firms Apollo and Motive Partners.

Indonesia-based fractional investing app Pluang has closed its funding round on $55m.

Small business banking platform Novo has reached a $700m valuation following the close of its Series B round on $90m.

India-based neobank Kaleidofin has raked in $10m from a Series B headed by the Michael and Susan Dell Foundation.

In an age where the traditional form of in-person payments is being restricted due to Covid-19 restrictions, the rise of PayTech seems almost inevitable. With more people than ever now using payment technologies, the demand for funding is also climbing.

PayVEDA, which helps make bill payments easier, has reportedly collected $11.5m in its Series A funding round.

Saudi Arabia-based Dawul has scored $5m in a seed funding round, which was led by RAED Ventures.

Qraft Technologies, which aims to improve alpha delivery in asset management, has collected $146m in funding from SoftBank Group Corp.

nCino, a cloud banking and digital transformation solution developer, has acquired cloud-based homeownership software company SimpleNexus.

Responsible, an embedded finance company designed to make the fashion industry more circular, has secured $6.6m from a seed round held by Barclays.