Funding News
Figure 1

Weekly Funding Highlights – 3 March 2021

More transactions, deals, investments for fintech this week. Take a look with us on the latest selection and stay on top of the news. Explore the top domains of activity: payments, credit card, mobile payments, insurtech, cybersecurity, stock trading, data providers, tax, banking, and financial management software. Happy reading!

Klarna said it raised $1 billion (€0,83bn) at a valuation of $31 billion

Klarna (Stockholm, Sweden), a fintech payments company, announced $1 billion (€0,83bn) at a valuation of $31 billion (€25,72bn), triple the price investors gave the Swedish payments firm during its last funding round, following rapid growth in its U.S. business. Europe’s most valuable startup initially set out to raise $500 million. Klarna Chief Executive Officer Sebastian Siemiatkowski said high investor demand led to this doubling, but could have gone as high as $3 billion. Read more

Petal Closes $125M (€103,72m) Debt Facility

Petal (New York, US), a credit card company, closed a more than $125m (€103,72m) committed debt facility. This asset-backed facility complements an existing $300m facility with global investment bank Jefferies. In total, Petal has now closed more than $440m in debt and raised more than $100m in equity financing. The company intends to use the funds to expand and support the Petal credit card program. Read more

RecargaPay closes a $70 million (€58,08m) Series C

RecargaPay (Sao Paulo, Brazil), a fintech that allows users to top off their prepaid cell phones online, announced this morning that they’ve closed their $70 million (€58,08m) Series C. RecargaPay’s Series C was co-led by Miami-based Fuel Venture Capital and Madrid-based IDC Ventures, with additional participation from LUN Partners, Experian Ventures and ATW Partners. The company plans to expand its financial services offerings to small businesses and consumers, including further development of its popular subscription program Prime+. Read more

Circulo Raises $50M (€41,49m) in Series A Funding

Circulo (Columbus, OH, US), an insurtech company, raised $50M (€41,49m) in Series A funding. The round was led by Drive Capital and General Catalyst with participation from Oak HC/FT and SVB Capital. Circulo is building a next generation Medicaid insurance company providing tech-enabled care to the nation’s sickest and poorest populations. Read more

Stori Raises $32.5M (€26,97m) in Series B Funding

Stori (Ciudad de México, Mexico), a credit card startup, raised $32.5m (€26,97m) in Series B funding. The round was led by Lightspeed Venture Partners with participation from Vision Plus Capital, BAI Capital and Source Code Capital. The company intends to use the funds to continue to expand its business reach and business reach. Read more

Armorblox Raises $30M (€24,89m) Series B Funding

Armorblox (Sunnyvale, CA, US), a cybersecurity company for organizations to communicate securely over email, raised $30m (€24,89m) in Series B funding. The round, which brought total funding to $46.5m, was led by Next47, with participation from Polaris Partners and Unusual Ventures, as well as General Catalyst and other early investors. The company intends to use the funds to expand operations and its business reach. Read more

Parkside Closes $24 Million (€19,91m) Series A Financing

Parkside (San Francisco, CA, US), a stock trading and clearing platform for brokerages and digital banks, announced completion of its $24 million (€19,91m) Series A financing. Shanghai, China-based Enlight Growth Partners (“EGP”) led the round, which included existing investors Mubadala Capital, FinTech Collective and Colle Capital, and new investors Peak6 Investments and Entrée Capital. Parkside will continue expanding its technology and brokerage services in support of its 2021 growth plans. Read more

Bottlepay raises £11m (€12,74m) seed round

Bottlepay (Newcastle upon Tyne, England), a payments app bringing real-time global payments in Bitcoin and other currencies, has closed an £11m (€12,74m) seed funding round. Investors taking part in the round include British billionaire hedge fund manager Alan Howard, as well as present and former Goldman Sachs partners, venture capital firm FinTech Collective, and financial services firm NYDIG and tech entrepreneur Phil Doye.  Read more 

SoundCommerce Raises $15M (€12,45m) in Series A Funding

SoundCommerce (Seattle, WA, US), a data platform provider, raised $15M (€12,45m) in Series A financing. The round was led by Emergence Capital with participation from existing investors Defy Partners and Voyager Capital. In conjunction with the funding, Joe Floyd, General Partner at Emergence Capital, joined SoundCommerce’s Board of Directors. The company intends to use the funds to accelerate hiring, platform capabilities and customer engagement efforts. Read more

MoCaFi Secures $12 Million (€9,96m)

MoCaFi (New York, US), a mobile-first banking platform, announced on Monday it secured $12 million (€9,96m) through its Series A funding round, which was led by Tom and Wende Hutton, with participation from Citi Impact Fund, Mastercard, 1Flourish Capital, Commerce Ventures. Funds from the Series A round will be used to continue the growth and development of the MoCaFi platform. Read more

Zelros Raises $11 Million (€9,13m) Through Series A Funding

Zelros (Paris, France), an insurtech platform, announced earlier this week it secured $11 million (€9,13m) through its Series A funding round, which was led by BGV with participation from ISAI Cap Venture, and Plug and Play. The investment round brings the company’s funding to $16.5 million. Zelros will be using the funds to continue the development of its platform. Read more

AccountsIQ scores €5.8M funding

AccountsIQ (London, England), a financial management software (FMS) startup founded by a team of chartered accountants, has raised €5.8 million in funding, backed by Finch Capital. AccountsIQ says the injection of capital will be used for accelerated growth and recruitment across sales and marketing, customer success and engineering to continue to enhance the product. Read more

Maslife raises £3M (€3,47m)

Maslife (London, England), a financial and well-being banking app, has secured £3 million (€3,47m) funding in a seed capital raise. The funding will be used to support the company’s global growth ambitions, broaden and accelerate product development and develop its proprietary technology further. Read more

Stitch raises $4m (€3,32m) seed round for African expansion

Stitch (South Africa) has announced a US$4 million (€3,32m) seed round from investors. The Raba Partnership, CRE, Village Global, Klarna founder Niklas Adalberth through his fund Norrsken, Venmo founder Iqram Magdon Ismail, founding team members at Plaid, and executives at Coinbase, Revolut and Fast. Stitch will use the funding to build the team, consolidate growth in South Africa, and launch operations in West and East Africa, equipping Africa’s rising fintech community with the tools to build better products faster. Read more raises $3.6m (€2,99m) (London, England), a startup that empowers tax professionals to achieve sound tax governance, raised a $3.6 million (€2,99m) round, led by Cavalry with participation from Mustard Seed Maze and Amaranthine. The company plans to expand their development team and accelerate the growth of their subscription tax management platform. Read more

Do you have any news to share: please put feed@ on your press list. 

Curious to read and find out more from fintech? Then subscribe & read our full newsletters here: In order to see our other weekly highlights, check out the following links: research, analysis & opinionnews.

Share this Article
Related Insights
Since 2014, Holland FinTech has been mapping the fintech landscape, in the Netherlands and abroad.
Landing in the Netherlands
New to the Netherlands? Want to know who is who and where to meet them? Read all about the Dutch market, and find your path to successful market access!
Amsterdam Fintech Week
Amsterdam FinTech Week is back on 12-15 September! Be a sponsor, co-organizer, or just participate at the summit or one of the countless side events.

How likely are you to recommend Holland FinTech?