For this week, we focused on bringing you further transactions, funding rounds and investments from fintech. As main topics, we tackle the digital mortgage sector, mobile payments, DaaS platforms, challenger banks, P2P, SaaS, digital banking, financial management, InsurTech, bond issuance, and RegTech. Enjoy the reading!
Better.com: Digital mortgage lender
Better.com (NY, US), a digital mortgage lender, announced that it raised $200 million (€170.20m) in a series D round led by private equity firm L Catterton, with participation from investors Activant Capital, Ally Financial, American Express Ventures, Ping An and 9Yards Capital. With a current valuation of $4bn, Better.com plans to continue its mission to provide Americans with simpler homeownership processes, which are faster and more accessible. Read more
LinkAja: Mobile Payments Platform
LinkAja (Jakarta, Indonesia), a developer of a mobile payment platform intended to facilitate smoother financial transactions, closed a $100 million (€85.10m) series B funding round led by Singapore super app Grab, with participation from Telkomsel, BRI Ventura Investama and Mandiri Capital Indonesia. With the new funding, LinkAja plans to tackle the middle class customer base and also to reach micro, small, and medium enterprises (MSMEs) in Indonesia. Read more
Aidexa: Challenger bank for SMEs
Aidexa (Italy), a challenger bank for SMEs, secured €45 million in funding through a seed round from Generali Group, Banca Sella, IFIS, and from venture capital investors, family offices, local trade associations and several angel investors. With the funding, Aidexa plans to offer new services, by combining AI technology with open banking to help Italian SMEs streamline their banking and business processes. Read more
Funding Circle: P2P Lending Marketplace
Funding Circle, a peer-to-peer (P2P) lending marketplace that allows the public to lend money directly to small and medium-sized businesses, has acquired £30 million (€33.72m) in capital from British Business Investments. With the new raised sum, Funding Circle intends to further help UK-based small businesses via its SME Direct Lending Fund service. In addition, the fund aims at offering SME loans for institutional investors. Read more
Venminder: SaaS Provider
Venminder (Elizabethtown, KY, US), a SaaS provider, raised $33m (€28.08m) in Series C funding, led by new investor Silversmith Capital Partners, with participation from existing major institutional investors, Bain Capital Ventures and MissionOG. The company aims to use the funds for feature development, and also expand further into new markets. Read more
Vivid Money: Digital Banking
Vivid Money (Berlin, Germany), a digital banking service, has raised a $17.6 million (€14.98m) Series A funding round, led by Ribbit Capital. With the new injection of capital, Vivid Money is aiming at expanding further on European markets, by offering services outside Germany. Read more
Snoop: Financial Management
Snoop (Norwich, Norfolk, UK), a financial management app, has closed its first crowdfunding effort after raising over £10m (€11.23m) from more than 1,700 investors. With the new raised sum, Snoop further plans on accelerating development on its platform, enhancing its current money-saving offerings and also expanding its reach. Read more
Coherent (Hong Kong, China), an InsurTech company, announced it has raised $14 million (€11.01m) in new funding in series A, led by Cathay Innovation with participation from Franklin Templeton. With the new raised sum, the company plans on growing its client base in Asia, and ensure new services for insurers focused on increasing digitization in their sales practices due to Covid-19. Read more
Kuda: Nigerian Digital Banking
Kuda (Oworonshoki, Nigeria), a digital bank, announced that it has raised $10 million (€8.51m) — the biggest seed round ever to be raised in Africa. The funding was led by Target Global, with Entrée Capital and SBI Investment also participating, along with a number of other notable individual fintech founders and angels. With the new raised sum, Kuda plans to accelerate its pan-African expansion and further develop its ethical banking product to keep up with customer demand. Read more
Origin: Bond Issuance
Origin (London, UK), a bond issuance platform, has closed its $7million (€5.96m) Series A round led by Clearstream and the Luxembourg Stock Exchange. With the new investment, Origin plans on developing further its issuance platform, allowing users to access international fixed-income capital markets, and enabling instant, T+0 issuance, listing and settlement. Read more
Compliance.ai (San Francisco, CA, US), a RegTech company, raised $3m (€2.55m) in Series A financing, led by Cota Capital. The company intends to use the funds to expand operations and its business reach. Read more
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