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Weekly funding highlights 4 September 2020

Neon Pagamentos, a Brazilian fintech with the goal of uniting technology and design to simplify users’ financial experience, secured $300 million (€254.18m) through its Series C funding round, which was led by General Atlantic, a global growth equity firm, with participation from BlackRock, as well as Vulcan Capital, PayPal Ventures, and Endeavor Catalyst, in addition to former investors Monashees and Flourish Ventures. With the new funding, Neon will expand its customer base, its hiring efforts and also enhance the platform’s technology capabilities. Read more

Viva Republica, a South Korean fintech startup, has raised $173 million (€146.58m) in a Series G round led by Sequoia Capital China. With its peer-to-peer payment service, Toss, Viva Republica aims to build and launch a customizable financial comparison app. Hence, the startup will act as a “one-stop” way for uses to view products from banks and insurance firms. Read more

PasarPolis, an Indonesian-based insurtech startup, raised in its Series B round $54 million (€45.75m). Investors include LeapFrog Investments, SBI Investment, AlphaJWC, Intudo Ventures, and Xiaomi. The new sum will be used for automating its AI-based platform, which allows the company to customize insurance products for different industries. Read more

Fondeadora, a fintech startup based in Mexico City that wants to build a full-stack neobank, raised a $14 million (€11.86m) Series A round led by Gradient Ventures, Google’s AI-focused venture fund. Y Combinator, Scott Belsky, Sound Ventures, Fintech Collective, and Ignia are also participating in the funding round. With the new fundings, Fondeadora plans on democratizing savings accounts. Read more

Cloudentity, a provider of identity-aware authorization and application security solutions for the API first economy such as Open Banking, raised $13M (€11.01m) in Series A funding from ForgePoint Capital, with participation from WestWave Capital. With the new investment, Couldentity will expand the company’s growth and also look into new marketing exposure. Read more

The process automation startup Hypatos has raised €10 million seed funding from investors including Blackfin Tech, Grazia Equity, UVC Partners, and Plug & Play Ventures. With AI technology and computer vision tech, the startup offers its clients efficiency and speed when it comes to financial document processing. With the new sum, Hypatos will expand its R&D and AI portfolio of models, in order to automate business processes for different types of documents. Read more

Fintech company Niyogin purchased a 51% stake in iServeU in a cash and stock deal. With the new acquisition, Niyogin plans on creating a full-stack digital platform to target the underrepresented individuals. Moreover, Niyogin will now be able to expand in India, serving the under-banked and offerings as well, focusing on products such as credit, digital wealth, and payments. Read more

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