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Weekly Funding Highlights – 19 May 2021

 

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including web and mobile applications, cyber security, insurance, debt management, cross-border payments, banking, investing, AI, brokerage, asset management, blockchain, trading, cloud computing and more! Enjoy the reading! 

Trade Republic has raised $900 million (€736M) in a Series C round 

Trade Republic (Berlin, Germany), a commission-free exchange-traded funds platform, has raised $900 million (€736M)  in a Series C round of funding that values the Berlin startup at $5.3 billion (€4.3Bn). It is being led by Sequoia, with participation from TCV and Thrive Capital, Accel, Founders Fund, Creandum and Project A. Read more

Redwood scores €315 million (€256M) in funding

Redwood Software (Amsterdam, Netherlands), which offers a range of cloud-based business and IT process automation solutions, has secured €315 million (€256M) in growth funding from a single investor, Turn/River Capital. The company says it will use the fresh cash to bolster its automation platform, including finance automation and report distribution. Read more

Figure closes $200m (€164M) in Series D at $3.2 bn (€2.6Bn) valuation

Figure Technologies (Sanfrancisco, California, US), a FinTech company leveraging AI, blockchain, and analytics to deliver innovative home equity release solutions and various other products that help improve the financial lives of customers has announced closing a $200m (€164M) Series D funding round at a $3.2 bn (€2.6Bn) valuation. The investment round was co-led by 10T Holdings and Morgan Creek Digital, with participation from DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures, the partners at DST Global and others. Read more

Ethos raises $200 million (€164M) and scores a $2 billion (€1.64Bn) valuation

Ethos (San Francisco, California, US), an insurance company, achieved a $2 billion (€1.64Bn) valuation following a $200 million (€164M) Series D round. The Series D round was led by General Catalyst,  Sequoia Capital, Accel, GV, and Jay-Z’s Roc Nation with participation from Glade Brook Capital Partners. With the new funds, the company expects to issue $20 billion of life insurance coverage this year. Read more

Similarweb raises $165 million (€135M)

Similarweb (New York, New York, US), a platform for understanding online behavior by monitoring traffic on the web and mobile apps, has successfully completed its Initial Public Offering (IPO) on the New York Stock Exchange (NYSE), at $22 (€18) per share, above the pricing range of $19-21. In the IPO, the company raised $165 million (€135M), which could rise by another $24.8 million (€20.32M). The offering was managed by J.P. Morgan and Citigroup. Read more

Sunbit raises $130M (€106M)

Sunbit (Sanfrancisco, California, US), a company that has developed a buy-now-pay-later payment solution, has raised a $130 million (€106M) Series D funding round. The series D round raises Sunbit’s valuation to $1.1 billion (€900M), making it the latest company to join the list of Israeli unicorns, private companies that are valued at over $1 billion. The company plans to expand its merchant footprint to reach more retailers and service providers, online and offline with the new investment. Read more

Huobi Launches Huobi Ventures With $100M (€82M)

Huobi Group (Seychelles), a blockchain technology company, has launched Huobi Ventures, a subsidiary focused on growing its venture investment portfolio and supporting innovative blockchain projects through long-term investment strategies. To date, Huobi has invested $69.42m (€57M)  across hundreds of projects in blockchain, media, public blockchains, stablecoins, and more. Read more

Amount raises $99 million (€81M) in a Series D funding round

Amount (Chicago, Illinois, US), a company that provides technology to banks and financial institutions, has raised $99 million (€81M) in a Series D funding round, at a valuation of just over $1 billion (€820M), led by WestCap and Blackstone CFO Laurence Tosi. The round was participated by Hanaco Ventures, Goldman Sachs, Invus Opportunities and Barclays Principal Investments. Amount plans to use its new capital to further accelerate R&D by investing in its technology and products. Read more

NetSPI raises $90 million (€74M) from new investors

NetSPI (Minneapolis, US), a cyber security company, has raised $90 million (€74M) in minority investments from KKR and Ten Eleven Ventures. The new infusion of capital will help the company develop and improve products, add clients and hire more people. Read more

Vise raises $65m (€53M) for investment management platform 

Vise (New York, New York, US), an AI-powered investment management platform, has raised $65 million (€53M) in a Series C funding round led by Ribbit Capital and joined by Sequoia Capital. The company also completed the integration with major custodians and released several new product features. The new funding will accelerate Vise’s investments in its platform, hiring talent and the rollout of new product features. Read more

Thunes bags a $60M (€50M) Series B

Thunes (Singapore, Singapore), a B2B cross-border payments company, has received a $60 million (€50M) Series B growth round, led by global private equity and VC firm Insight Partners. Existing shareholders, including GGV Capital, Helios Investment Partners and Checkout.com, also participated in this round. This new capital will help the company speed up investment in our operations, product and technology. Read more

Copper raises $50 million (€41M)

Copper (London, UK), a provider of custody, prime brokerage, and settlements, has closed a $50 million (€41M) Series B funding round. The investment round was co-led by B2B software investor Dawn Capital and Target Global. Other participants include fintech specialist VC firm Illuminate Financial Management, Copper’s existing investors LocalGlobe and MMC Ventures, and a number of strategic angels. The company says it will use the funds to broaden its international footprint, particularly across the US and Asia. Read more

BukuKas raises US$ 50 million (€41M) in Series B funding

BukuKas (Jakarta, Indonesia), a startup creating digital solutions for micro, small and medium enterprises (MSMEs) in Indonesia, announced it has raised US$ 50 million (€41M) in Series B funding, with participation from Gokul Rajaram and Taavet Hinrikus, Co-Founder of Wise (formerly known as TransferWise). The fresh funds will be deployed to strengthen BukuKas’ leadership team, engineering and product capabilities in both its Jakarta and Bangalore offices, as well as expand the range of services offered to merchants. Read more

Rally Raises $30 Million (€25M) Series B

Rally (New York, New York, US), a platform that allows retail investors to invest in collectible assets, announced a $30 million (€25M) Series B funding led by Accel, with participation from existing investors Upfront Ventures, Social Leverage. Additionally, Rally has secured a $50M (€41M) debt facility from Upper90 Capital. The new added amount will allow the company to efficiently offer unique assets across all categories. Read more

Stake picks £22M (€25M) funding to expand in European markets

Stake (Sydney, Australia), a commission-free trading app that lets Brits access the US markets, announced that it picked $30 million (€25M) from US-based Tiger Global and partners of London-based DST Global. The funds will be used to fuel its expansion into new markets including Europe and broaden its product offering. It will also help the company solidify its position in the UK. Read more

Credgenics In Talks To Raise $25M (€20M) In Series A Round

Credgenics (New Delhi, India), a debt resolution platform, is in talks to raise its Series A round worth $25 million (€20M). The latest funding will value the startup at over $100 million (€82M), boost the company’s efforts on R&D, expand overseas outside India and hire experienced professionals across functions and industries. Read more

ThreatLocker raises $20M (€16M)

ThreatLocker (Maitland, Florida, US), a startup providing enterprise cybersecurity tools for servers and endpoints, announced it has raised $20 million (€16M) in a series B round led by Elephant. The company says it will use the new capital to expand its global footprint and product R&D, with a focus on growing its engineering workforce. Read more

Zapper Raises $15M (€13M)

Zapper (Cape Town, South Africa), the decentralized finance (DeFi) dashboard, has raised $15 million (€13M) in a Series A round led by Framework Ventures. The round was joined by actor Ashton Kutcher’s Sound Ventures and entrepreneur Mark Cuban. The company plans to launch an on-platform app store for developers and is working on a Zapper mobile app. Read more

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