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Weekly Funding Highlights – 7 April 2021


For this week’s funding article, we have gathered the latest transactions, deals and investment rounds from fintech. We take a closer look at diverse domains and topics, including AI, crypto wallet, digital insurtech, online payments, neobanking, fintech startups, and more! Dive into the piece and happy reading!

Plaid raises $425M (€357M) in Series D (Techcrunch)

Plaid, a unicorn that helps connect consumers’ bank accounts to financial applications, has raised a $425 million Series D. The round was joined by two more news investors, Silver Lake Partners and Ribbit Capital. The amount of capital raised will allow Plaid to invest in scale, both in terms of its team and its product lineup. Read more

Next Insurance Raises $250M (€210M)in Funding and is valued at $4 Billion (Finsmes)

Next Insurance (Palo Alto, California, US), a digital insurtech company, raised $250m (€210M) in funding. The round, which brought valuation to $4 billion (€3.3Bn) and total funding raised to more than $880m (€740M), was led by FinTLV Ventures and Battery Ventures with participation from CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared. The company intends to use the funds to continue to expand operations and its business reach. Read more

CRED raised $215 million (€180M) and is valued at $2.2 billion (Techcrunch)

CRED (San Mateo, California, US), a financial services platform, has raised $215 million in a new funding round, Series D that valued the Indian startup at $2.2 billion (post-money), up from about $800 million valuation in the $81 million Series C round in January this year. The round was led by Falcon Edge Capital and Coatue Management with participation from DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group and Sofina. CRED intends to become the platform for affluent customers in India and also not limit its offerings to financial services. Read more

OneStream raises $200M (€168M), now valued at $6B (Techcrunch)

OneStream (Rochester, US), a financial services provider, has raised $200 million in primary equity. The funding values OneStream at $6 billion. The round was led by D1 Capital Partners, with participation from Tiger Global and Investment Group of Santa Barbara (IGSB). The company plans to use the funding to continue building out the tools that it provides to customers, and to keep up with demand for its services as more customers replace legacy applications and very basic, spreadsheet-based operations. Read more

Paidy Raises $120 Million (€101M) in Series D Round (MENAFN)

Paidy (Tokyo, Japan), a payment service provider, completed the Series D round of funding and raised a total of $120 million (€101M) from JS Capital Management LLC, Soros Capital Management LLC, Tybourne Capital Management Ltd., and Wellington Management. The funds raised in the latest round will be used to expand transactions with large merchants, develop new services, and strengthen its balance sheet in response to the rapid expansion of “3-Pay.” Read more

StashFin gets $40 million (€33M) in Series B funding round (Economics Times)

StashFin (New Delhi, India), a neobanking startup, has raised $40 million (€33M) in a Series B equity round led by a group of global investors including Altara Ventures and Uncorrelated Ventures with participation from Integrated Capital, Kravis Investment Partners, Saison Capital and Tencent Cloud Europe BV, Alto Partners, Snow Leopard Ventures and Positive Moves. The company plans to use the funds to grow its lending portfolio in India, as well as to provide neobanking solutions to businesses across South Asia. Read more

imToken raises $30 million (€25M) in Series B funding (Techcrunch)

ImToken (Singapore, Singapore), a blockchain tech startup and crypto wallet developer, announced it has raised $30 million (€25M) in Series B funding led by Qiming Venture Partners. The funding will be used to expand its research arm for blockchain technology, called imToken Labs, and open offices in more countries. Read more

Cora Secures $26.7 Million (€22.4M) Through Series A Funding Round (Crowdfundinsider)

Cora (São Paulo, Brazil), a fintech firm, announced that it raised $26.7 million (€22.4M) through its Series A funding round, which was led by Ribbit Capital with participation from  Kaszek Ventures, QED Investors, and Greenoaks Capital. The company is planning to use the Series A funds to continue the development of the Cora platform. Read more

Butter closes £15.8 million (€18.3M) in funding (IBS Intelligence)

Butter (London, UK), a fintech platform, has closed a £15.8 million (€18.3M) funding round to accelerate the rollout of its responsible open-banking based BNPL shopping app. The round was led by BCI Finance, the credit arm of London based venture builder Blenheim Chalcot, as well as a number of other private Angel investors. Read more

Auditoria raises $15.5M (€13.05M) to expand AI platform (VentureBeat)

Auditoria (Santa Clara, CA), a startup offering AI-driven automation products for corporate finance teams, raised $15.5 (€13.05M) million in series A funding. The proceeds will shore up Auditoria’s investments in data science and the expansion of its sales, marketing, and customer success teams. Read more

SadaPay Secures $7.2 Million (€6M) Through Seed Funding Round  (Crowdfundinsider)

SadaPay (Islamabad, Pakistan), a fintech startup, has secured $7.2 million (€6M) through its latest seed funding round, which was led by Recharge Capital with participation from Kingsway Capital, Raptor Group, Ualá’s founder Pierpaolo Barbieri, Ribbit Capital’s Brian McGrath, Ilan Stern, and Andrew Wang. SadaPay states it is a neobank on a mission to bring modern financial services to Pakistan. Last month, the company introduced numberless debit cards for seamless digital transactions. Read more

FinanZero Secures $7 Million (€5.8M) Through Latest Funding Round (Crowdfundinsider)

FinanZero (São Paulo, Brazil), an online credit marketplace, announced that it secured $7 million (€5.8M) through its latest funding round, which was led by Swedish investors VEF, Dunross & Co. and Atlant Fonder. The investment round’s funds will be used for marketing, product development, and expansion of employees. Read more

Ovex Raises $4M (€3.3M) in Funding (Finsmes)

Ovex (Cape Town, South Africa), a market-focused cryptocurrency exchange platform specializing in over-the-counter (OTC) trading, raised $4m (€3.3M) in funding. The company intends to use the funds to expand into Dubai, Nairobi, Quebec, and London, as well as Lagos when the Nigerian central bank loosens its cryptocurrency ban. Read more

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