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Weekly Funding Highlights – 3 February 2021

More news, transactions and investments happening at a global scale for fintech. This week, we look at mortgage providers, security platforms, data & AI companies, InsurTech, cybersecurity, digital contracting platforms, cloud computing, mobile banking apps, personal finance companies, financial services, and more!

Happy reading!

Databricks Raises $1 Billion (€0.83bn) in Series G

Databricks (San Francisco, CA, US), a data and AI company, received $1 billion (€0.83bn) in Series G funding. The Series G funding was led by Franklin Templeton, joined by Canada Pension Plan Investment Board, Fidelity Management & Research LLC, Whale Rock, Amazon Web Services (AWS), CapitalG, Salesforce Ventures. The company intends to use the funds to continue to accelerate innovation, scale operations and its business reach. Read more

UiPath has closed a $750m (€623.9m) funding round

UiPath (New York, US), a robotic process automation (RPA) platform, has closed a $750m  (€623.9m) Series F funding round, at a post-money valuation of $35bn (€29.1bn).  The round was led by Alkeon Capital and Coatue, according to a statement on Monday. Altimeter Capital Management, Dragoneer, IVP, Sequoia Capital, Tiger Global Management and funds advised by T. Rowe Price also participated. Read more

Nubank raised $400 million (€332.9m) in a Series G funding

Nubank (São Paulo, Brazil), a fintech company, raised $400 million (€332.9m) in a Series G funding round led by Singapore’s GIC, Whale Rock and Invesco. Also participating in the round were previous investors Tencent, Dragoneer, Ribbit Capital and Sequoia. The new funds will be used for new investments in Brazil and advancing operations in Mexico and Colombia. Read more

Albert Raises $100M (€83.1m) Series C Funding

Albert (Los Angeles, CA, US), a personal finance company, raised a $100M (€83.1m) Series C funding. The round was led by General Atlantic, with participation from others including CapitalG. The company intends to use the funds to continue to expand operations and its business reach. Read more

Dave Receives $100M (€83.1m) Credit Facility

Dave (Los Angeles, CA, US), a provider of a banking app, secured a $100m (€83.1m) credit facility from Victory Park Capital. The funding will support the growth of Dave’s banking product and accelerate the company’s expansion into new products and features. Read more

Stilt raises $100 million (€83.1m) debt facility

Stilt (San Francisco, CA, US), a provider of financial services for immigrants in the United States, announced today it has raised a $100 million (€83.1m) warehouse facility from Silicon Valley Bank for lending to its customers. The new debt facility from Silicon Valley Bank means Stilt will be able to provide larger loan volumes and better interest rates. Read more

Valon Raises $50M (€41.6m) in Series A Funding

Valon (New York, US), a tech-enabled residential mortgage provider, raised $50m (€41.6m) in Series A funding. 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

Storfund secures $36.5M (€30.36m) funding

Storfund (London, UK), a technology-driven e-commerce funding enterprise, announced that it secured $36.5M (€30.36m) capital from the Private Debt team of Swiss bank Union Bancaire Privée (UBP) and private investors. The company will use this fresh investment to expand its global operations and help marketplace merchants gain access to working capital and unlock liquidity. Read more

Check Raises $35M (€29.1m) in Series B Funding

Check (New York, US), a payroll infrastructure startup, launched with $35m (€29.1m) in Series B funding. Backers included Stripe and Thrive Capital. The company intends to use the funds to continue to expand operations and its business reach. Read more

MPOWER Financing raises $25M (€20.8m) from Tilden Park

MPOWER Financing (Washington, DC, US), a fintech platform which provides educational loans to international and DACA students, has raised $25 million (€20.8m) from Tilden Park Capital Management. The company said the funding will be used to automate its digital loan platform, whose underwriting technology provides a loan decision to students within minutes. Read more

CybSafe secures €6.3 million

CybSafe (London, UK),  a startup focused on managing human cyber risk, announced that it has raised €6.3 million in Series A1 round. The round was led by deep tech investors IQ Capital, with participation from Hannover Digital Investments GmbH (HDI Group) and B8 Ventures. The fresh funds will be used to enhance go-to-market capability, deepen technology and research capability. Read more

SecurityAdvisor Raises $7.3M (€6.07m) in Series A Funding

SecurityAdvisor (Sunnyvale, CA, US), a personalized security awareness platform, closed a $7.3m (€6.07m)  Series A funding round. The round was led by ClearSky Security with participation from Crosslink Capital, SixThirty Ventures, and Cyber Mentor Fund. The company will use the capital to support product development and drive market awareness of its innovative offering amongst enterprise security leaders. Read more

INZMO Raises €3.1 Million Through Seed Investment Round

INZMO (Berlin, Germany), an InsurTech startup, announced that it secured €3.1 million through its latest seed investment round, which was led by Change Ventures with participation from Swiss insurance giant Helvetia. Read more

Precisely brings in €1.8 million to accelerate growth

Precisely (Gothenburg, Sweden), a digital contracting platform, has received a €1.8 million investment led by Amsterdam-based VC fund Peak Capital. Precisely will use the investment to expand its team, further develop its product and accelerate international growth. Read more

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