Weekly funding highlights 25 September 2020

Weekly funding highlights 25 September 2020

Weekly funding highlights 25 September 2020

Affirm, an American financial technology company which lets users take out microloans at the point of sale with participating vendors and aims to provide a quick, transparent, and more inclusive lending alternative to credit cards, raised $500m (€429.9m) in Series G funding. The round was led by GIC, a returning investor, and Durable Capital Partners LP. Other returning investors include Lightspeed Venture Partners, Wellington Management Company, Baillie Gifford, Spark Capital, Founders Fund, and Fidelity Management & Research Company LLC. With the new investment, Affirm will expand its workforce and continue to hire top talent and further scale the company. Read more

Nuvei, a Canadian electronic payment processing company, raised C$700 million (€450.8m), making it the biggest tech offering in the history of the Toronto Stock Exchange. Shares of Nuvei were priced at $26 but climbed as high as $35.04. They ended the day at C$45.05 ($34.12). With over 50,000 customers, Nuvei is backed by Caisse de Depot et Placement du Quebec and private equity firm Novacap Investments Inc. Read more

Ideal, a Brazil-based broker dealer raised BRL 100 million (€15.45m) in Series A funding from Kaszek Ventures. The deal still awaits Brazilian Central Bank approval. With the new sum, Ideal plans on expanding and diversifying its customer base and also activities, in terms of offering new products and services. Read more

Marco Financial, a tech-enabled financing platform built for small and medium-sized Latin American exporters, raised $26M (€22.35m) in funding and credit, from investors Struck Capital and Antler, and secured a credit facility underwritten by Arcadia Funds, LLC. The company intends to use the funds to continue to expand operations and its business reach. Read more

Zoop, a mobile payment platform that enables individuals and businesses to process electronic payments remotely from any location, secured R $60 million (€9.27m) from Movile, a Brazilian Venture Capital firm. With the new funding, Zoop will further invest in accelerating the growth of the company and develop its Zoop framework in order to provide customers with new digital payments, banking and credit offerings. Read more

EasySend, a company which helps banks and insurance companies to quickly convert paper forms and PDFs into digital experiences, raised $16m (€13.76m) in funding following the completion of an $11m (€9.46m) Series A round. The round was led by Hanaco with participation from Intel Capital. With the new funding, EasySend plans on doubling its current workforce, further developing its products and also expanding its customer base in the U.S., Europe, and Asia. Read more

Mirakl, a French cloud-based e-commerce software company which provides online marketplace software to retailers, manufacturers and wholesalers, as raised a $300 million funding round at a $1.5 billion (€1,29bn) valuation from Permira Advisers leading the round and participation from existing investors 83North, Bain Capital Ventures, Elaia Partners and Felix Capital. With the new funding, Mirakl plans on expanding and hiring more engineers to develop new solutions for its clients. Read more

Next Insurance, an online-based insurance company for entrepreneurs and small businesses, raised $250m (€214.95m) in Series D financing from CapitalG, Alphabet’s independent growth fund, with participation from FinTLV, and existing investor Munich RE Group.The company intends to use the funds to hire over 200 new employees over the next year across their offices in Palo Alto, Austin and Israel. Read more

SpotOn Transact, a payments and software company redefining the merchant services industry, raised $60m (€51.59m)  in Series C funding from DST Global, with participation from existing investors including Dragoneer Investment Group and Franklin Templeton. The company intends to use the funds to continue to expand operations and its business reach. Read more

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