Funding News

Weekly funding highlights 16 October 2020

Molo (London, UK), a fully-digital fintech mortgage lender, raised £266m (€292.6m) in debt and equity funding, completing its series A equity funding round. The investment was led by Macquarie Group (Macquarie) and Patron Capital. The equity round was led by Yabeo, Andenes Investments, GPS Ventures and others. With the new raised sum, Molo plans on accelerating its growth and adding new products. Read more

Razorpay (Bengaluru, India), a platform that enables businesses to accept, process, and disburse payments with its product suite, raised $100m (€85.24m) in Series D funding, led by GIC and Sequoia and investors Ribbit Capital, Tiger Global, Y Combinator and Matrix Partners. Razorpay achieved the status of unicorn and is the 6th Indian start-up to exceed $1bn in valuation this year. With the new sum, the company plans on expanding its product offerings and securing more fintech partnerships. Read more

Wealthsimple (Toronto), a Canadian online investment management service focused on millennials, has raised $114 million (€73.63m) CAD in equity financing, led by TCV, with participation from Greylock, Meritech, Two Sigma Ventures, and existing investor Allianz X. With the new sum, Wealthsimple plans on continuing to expand its product offerings. Read more

Snapdocs (San Francisco, CA, US), an American real estate technology company, raised $60m (€51.14m) in new equity funding in order to manage mortgages by using cloud systems. The Series C is being led by YC Continuity, with existing investors Sequoia Capital, F-Prime Capital and Founders Fund, and new backers Lachy Groom, Maverick Ventures, and DocuSign. Read more

Spendesk (Paris, France), a company focused on spending management solutions, has added $18 million to its Series B round, now reaching a total of $56.4 million (€48.08m). The investment comes from Eight Roads Ventures. Read more

Deepwatch (Washington,US), a company focused on providing intelligence-driven managed security services, closed a $53m (€45.18m) Series B funding round, led by Goldman Sachs with participation from existing investor ABS Capital Partners. With the new investment, Deepwatch plans on accelerating its R&D of the current cloud security platform, expanding its reach and attracting potential partnership opportunities. Read more

NYDIG (NY, US), an investment firm providing asset management, custody, and execution services for digital assets, raised $50m (€42.62m) in growth equity funding. With the company quadrupling the number of clients in the last year, investors including financial services companies in commercial banking, insurance, investment banking, and asset management participated in the funding. Read more

M1 Finance (Chicago, IL, US), an online financial services company, raised $45m (€38.36m) Series C funding led by Left Lane Capital, with participation from Jump Capital, Clocktower Technology Ventures and Chicago Ventures. For the company, series C comes just after 120 days after it raised series B. With the startup combining three offerings into one – roboadvising, neobanking and lending, the pricing model is bringing high profits. Read more

Apiiro (Tel Aviv, Israel), a code risk platform, raised $35 million (€29.83m) in funding from Ted Schlein, general partner at Kleiner Parkins, and Saam Motamedi and Asheem Chandna, general partners at Greylock. With the new raised money, Apiiro plans on further enhancing its offerings and seeks to accelerate delivery and lower spending. Read more

BlackSwan Technologies (Tel Aviv, Israel), a SaaS product company, raised $28m (€23.87m) in Series A funding,led by Prytek, FinTLV and MS&AD Ventures. With the new sum, the company will expand its business and workforce, and focus on developing new AI technology applications. Read more

Yotascale­­ (Menlo Park, CA, US), a cloud cost management software provider, secured $13m (€11.08m) in Series B funding, led by Felicis Ventures’ Aydin Senkut and existing investors Crosslink Capital, Pelion Ventures, and Engineering Capital. With the new injection, Yotascale intends on expanding its operations and business reach. Read more

InsurTech Cover Genius (Sydney, Australia) raised £8.3m (€9.13m) from King River Capital, supplemented by a loan from Leap Capital. With the new sum, Cover Genius plans on supporting the integration with other tech and e-commerce firms across South East Asia, India, the United States and Europe. Read more

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