Funding News

Weekly funding highlights 23 October 2020

Bind Benefits (Minneapolis, US), a health insurance startup, raised $105m (€88.61m) in Series B funding from Ascension Ventures, and other existing investors. With the new sum, Bind Benefits will accelerate the company’s growth and expansion and also improve its personalized health plan. Read more

Newfront (San Francisco, CA, US), an insurance brokerage company, raised over $100m (€84.29m) of funding, most recently valuing the company at $500m from investors Founders Fund and Meritech Capital. With the new raised funding, Newfront aims at further investing in its current platform, growing its resources and strategy. Read more

Disco (Austin, TX, US), a legal technology company, raised $60m (€50.64m) equity financing from Georgian Partners, with participation from existing investors Bessemer Venture Partners, LiveOak Venture Partners, and The Stephens Group and new investor Breyer Capital. The company intends to use the funds to expand its go-to-market team. Read more

Fivestars (San Francisco, CA, US), a payment and customer loyalty platform for small local businesses, has raised $52.5 million (€44.31m) in a combination of Series D equity and debt financing, led by Salt Partners, with additional participation from Lightspeed Venture Partners, DCM Ventures, Menlo Ventures and HarbourVest Partners. With the new sum, the company plans on developing and scaling the company’s integrated payments and marketing CRM platform. Read more

FundThrough (Toronto, Canada), a marketplace platform that offers lines of credit to growing businesses, received a $50m (€42.20m) investment from Northleaf Capital Partners. With the new sum, FundThrough plans on expanding its business reach. Read more

Retool (San Francisco, CA, US), a provider of development platform tools, has raised $50 million (€42.2m) in new funding on a valuation of $925 million, led by led by Sequoia Capital and included the founders of GitHub, Gusto, PagerDuty, Plaid, Segment, Stripe and Y Combinator. Read more 

Lunar (Copenhagen, Denmark), a mobile-based banking app, raised €40 million in Series C funding from existing investors, which follows a €20 million round in April. The neobank plans to expand into the fourth major Scandinanvian economy, Finland, in 2021. Read more

Extend (San Francisco, CA, US), an API company that allows any merchant to offer extended warranties and protection plans, raised $40 million (€33.76m) in Series B funding led by Meritech Capital, with participation from PayPal Ventures, as well as existing investors GreatPoint Ventures and Shah Capital Partners. Extend intends to use the new funding to continue developments on its platform, build out new features and expand the software development and sales teams. Read more

4iQ (Los Angeles, CA, US), a cyber intelligence company, raised $30m (€25.32m) in Series C funding. The round was led by ForgePoint Capital and Benhamou Global Ventures, with participation by C5 Capital, Adara Ventures and the addition of TheVentureCity. With the new amount, 4iQ plans to ramp investments and accelerate innovation. Read more

Matic (Columbus, Ohio, US), a digital insurance agency, secured $24 million (€20.25m) through its latest investment round, which was led by IA Capital with participation from Cultivation Capital, Clocktower Technology Ventures, MTech Capital, The K Fund, Protection America, Nationwide Ventures, Anthemis Group, ManchesterStory, Franklin Madison, and Fenway Summer. With the new sum, Matic plans on further supporting its partnerships and integrations with insurance carriers and distribution partners. Read more

Finexio (Orlando, US), an AP payments as a service platform, closed a $23m (€19.41m) funding round, led by Medalist Partners and additional investors Florida Funders, Post Road Partners, including investors Peter Wirth, Keith Meyers, Paul Friday & Lou DeRose, Alpine Meridian Ventures, Stormbreaker Ventures, Joe Proto, CEO of Transactis, Finexio senior management, and several Fintech and payments industry CEOs. The company intends to use the funds to continue to expand its development efforts. Read more

Klar (Mexico City, Mexico), a fintech challenger bank that provides deposit and credit services, has become the first big bet that Prosus Ventures is taking in Latin America outside of Brazil. Klar secured a $15 million (€12.66m) funding from Prosus Ventures, with participation from new investor International Finance Corporation and former investors Quona capital. With the new sum, Klarn plans on expanding its engineering capabilities in both its Berlin and Mexico hubs to expand the company’s offerings. Read more

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