PAYFAZZ, an Indonesian agent-driven banking network raised $53 Million (€46M) from Capital Group and Insignia Ventures Partners. Existing investors Tiger Global Management, Y Combinator, ACE & Company, and Quiet Capital also participated in the funding. New investors included BRI Ventures. PAYFAZZ tech start-up offers financial services to Indonesia’s rural and unbanked individuals. Read more
Notarize, a platform that enables consumers and businesses to sign and notarize official documents digitally, has raised $35 million (€31m) in a series C round of funding. Over the last three months, the start-up claimed it had over 400% increase in uptake due to the fact that remote working technologies are in high demand. Notarize had previously raised around $47 million (€41M). The funding round, which closed in March, was led by Camber Creek, a VC firm focused on real estate, and Polaris Partners. Read more
Another interesting deal was performed by SoftBank, which allegedly tapped its $100bn (€88bn) Vision Fund to acquire another $130m (€115m) stake within the Indian InsurTech platform PolicyBazaar, according to a report from Times of India. Although the previous investment in PolicyBazaar was considered by SoftBank as a mistake, now SoftBank is expecting to have more than a 15% stake in the business, making it the second largest stakeholder. Read more
B2C2, a London, UK-based trading firm for the institutional crypto markets, received a a $30 million (€26M) minority investment from SBI Financial Services (a subsidiary of SBI Holdings). SBI, owner of Japan’s first digital bank and largest online brokerage, is listed on the Tokyo Stock Exchange and is a member of the TOPIX stock index. B2C2 will become SBI’s main liquidity provider as SBI expands its crypto offering to millions of existing customers. Read more
Apiture, a Wilmington, N.C.-based digital banking experience company, closed a $20m (€17m) funding round. CEO Chris Babcock, Apiture, targets to use the funds in order to accelerate development of digital banking technologies. Apiture represents a digital banking experience company. With its products Xpress and Open, the purpose is to serve over 400 financial institutions within the United States market. Read more
Ping An and JPMorgan are to join a $60 million (€53m) financing round in supply chain finance outfit Taulia, according to the Wall Street Journal. The Taulia platform has two million suppliers signed up and financed more than $7.5bn (€6.6bn) dollars worth of invoices last quarter. Read more
On a global scale, other fundings have been marked for this week’s news.
Wagestream, a UK-based fintech, announced on Tuesday it has secured £20 million (€22m) through its Series B funding round, which was led by Northzone with participation from Balderton Capital, QED Investors, LocalGlobe, Fair By Design, Jigsaw VC, and Village Global.
Farewill, a London, UK based will writer and funeral provider, raised £20m (€22m) in funding. The round was led by Highland Europe with participation from Keen Ventures, Rich Pierson of Headspace, Broadhaven Ventures, and Venture Founders, which joined previous investors Augmentum Fintech, Taavet Hinrikus (TransferWise) and Kindred Capital.
U.S. challenger bank Point, which offers a consumer banking app and pledges to provide a “credit card experience” to debit cardholders, announced that it has raised $10.5 million (€9.3m) in Series A funding. The round was led by Valar Ventures, and featured participation from Y Combinator, Kindred Ventures, Finventure Studio and “business angels.”
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Read here our other sections of this week:
- Weekly analysis & opinion highlights 10 July 2020
- Weekly news highlights 10 July 2020
- Weekly research highlights 10 July 2020
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