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Weekly Funding Highlights – 10 February 2021

More transactions, deals, investments and funding rounds… For this week, we explore the InsurTech sector, financial services, neobanks, fractional investment platforms, mortgage providers, insurance marketplaces, micro-lending firms, card issuing and process platforms and more. Happy reading!

Splitit Secures $150 Million (€123.68m) Credit Facility

Splitit (New York, US), a company that allows consumers to make payments in easy installments using their credit cards, has secured a $150 million (€123.68m) credit facility from Goldman Sachs to support growth in both the U.S. and Europe. The latest investment comes less than six months after Splitit raised $71.5 million in capital through a private placement and share purchase agreement. Read more

Stash Raises $125M (€103.07m) in Series G Funding

Stash (New York, US), a provider of a finance app for people to build diversified investment portfolios, raised $125m (€103.07m) in Series G funding. The round was led by Eldridge, with additional funding from new and existing investors, including Owl Ventures, funds and accounts advised by T. Rowe Price Associates, Inc., Goodwater Capital, Entree Capital, and others. The company intends to use the funds to grow the team, expand its product offering and its business reach. Read more

Rhino Raises $95M (€78.33m) in Funding

Rhino (New York, US), an InsurTech company, raised $95m (€78.33m) in funding. The round was led by Tiger Global Management with participation from Kairos and Lakestar VC, as well as Lakehouse VC and additional strategically aligned insurance and real estate investors. The company intends to use the funds to continue to expand operations and its business reach by increasing its availability through partnerships with property owners. Read more

Monzo to raise £50M (€57.1m)

Monzo (London, UK), a challenger bank that allows customers to access a range of products and services, is expected to raise a £50 million (€57.1m) extension in Series G round from existing shareholders and a new San Francisco-based VC firm Octahedron Capital. This funding round will support Monzo to strengthen its market position affected by Covid-19 pandemic. Read more

Valon Raises $50M (€41.23m) in Series A Funding 

Valon (New York, US), a tech-enabled residential mortgage provider, raised $50m (€41.23m) in Series A funding. The round was led by Andreessen Horowitz, with participation from prior investors Jefferies Financial Group, New Residential Investment Corporation, an affiliate of Fortress Investment Group LLC, and 166 2nd LLC. The company intends to use the funds to accelerate growth through hiring and building out operations for acquiring more Mortgage Servicing Rights (MSR). Read more

DealerPolicy Raises $30M (€24.74m) In Series B Funding

DealerPolicy (Burlington, US), an insurance marketplace for automotive retail, raised $30m (€24.74m) in Series B funding. The round was led by 3L Capital and Hudson Structured Capital Management Ltd. The company will use the funding to accelerate the development of its insurance platform for the auto industry and to expand its team. Read more

SATYA MicroCapital secures over $21M (€17.32m) in additional funding

SATYA MicroCapital (New Dehli, India), a micro-lending firm, has reportedly secured $21 million (€17.32m) in funding from Japan’s Gojo & Company. The new received funding will also help re-foster investors’ confidence back in the sector. Read more

Fair Secures $20 Million (€16.49m)

Fair, a multilingual neobank and financial services platform, announced it secured $20 million (€16.49m) and is planning to open early bird membership enrollment in March, with a public launch in April. Read more

Mesh Payment Raises $13 Million (€10.72m)

Mesh Payments (New York, US), a corporate payments processing platform, announced it raised $13 million (€10.72m) through its latest financing round, which was led by TLV Partners with participation from Meron Capital and R-Squared Ventures. The investment round’s funding will be used to expand the company’s sales and marketing efforts, as well as accelerate the establishment of strategic partnerships with leading management platforms to integrate with companies’ corporate financial workflows. Read more

Flink Raises $12 Million (€9.89m) Through Series A Investment Round

Flink (Roma Norte, Mexico), a fintech company, announced this week it raised $12 million (€9.89m) through its Series A funding round, which was led by Accel and ALLVP with participation from Raptor Financial Group, Clocktower Ventures, Kevin Efrusy, and Oskar Hjertonsson. With the new investment, Flink plans to continue working on scaling the platform, building new products that add value. Read more

NymCard Secures $7.6M (€6.27m)

NymCard (Abu Dhabi, UAE), a card issuing and processing platform, has secured $7.6 million (€6.27m) in  capital through a Series A funding round, led by Shorooq Partners along with the contributions from OTF Jasoor Ventures and VentureSouq. NymCard aims to offer the best card issuing and processing solutions for financial institutions, banking platforms, and Fintech firms in the MENA region. Read more

TrustLayer raises seed funding round

TrustLayer (San Francisco, CA, US), an insurtech startup, has raised a $6.6 million (€5.45m) seed funding round that was led by Abstract Ventures. Other investors in TrustLayer’s seed funding round include Propel Venture Partners​, ​NFP Ventures​, BoxGroup​ and ​Precursor Ventures​ and BrokerTech Ventures. Read more

Twinco Capital has raised €3 million in funding

Twinco Capital (Madrid, Spain), a fintech startup making it easier to access supply chain finance, has raised €3 million in funding. Leading the round is Mundi Ventures, with participation from previous backer Finch Capital and several unnamed angels. Read more

Fintech startup Wombat rounds up £2M (€2.28m)

Wombat Invest (London, UK), a fractional investment platform accessible through a mobile app, has raised £2 million (€2.28m) in a seed round led by Fuel Ventures, with participation from existing backers, including angel investors Chris Adelsbach and James Moore. Read more

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