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Weekly Funding Highlights – 2 June 2021

Find out the latest deals and transactions from fintech! Topics of interest for this week include: digital insurance, payments, treasury, cybersecurity, mortgage, cash flow management, ecommerce, personal finance, open banking. Dive into the investments and discover the most relevant names from the industry. Happy reading!

wefox Closes $650M (€533M) in Series C Funding

Wefox (Berlin, Germany), a digital insurance company, raised $650m (€533M) in Series C funding, resulting in a post-money valuation of $3 billion (€2.5Bn). The round was led by Target Global with participation from existing investors OMERS Ventures, Gsquared, Merian, Horizons Ventures, Eurazeo, Mubadala, Creditease, Salesforce Ventures, Speedinvest, Alma Mundi Ventures, Victory Park Capital, GR Capital, Mountain Partners, Seedcamp, and Sound Ventures and new investors LGT, Partners Group, Jupiter, and FinTLV. The company intends to use the funds to expand into the US and Asia within the next two years while strengthening its presence in its existing markets in Germany, Austria, Switzerland, and Poland. Read more

Circle Closes $440M (€360M) Funding Round

Circle (Boston, USA), a global financial technology firm that provides payments and treasury infrastructure for internet businesses, raised $440m (€360M) in financing. Backers included Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC, as well as Michael J. Price and Friends. The company intends to use the funds for continued growth, organizational development and market expansion opportunities. Read more

Exabeam raises $200 mln (€164M), valued at $2.4 bln (€2Bn)

Exabeam (San Mateo, CA, USA), a Silicon Valley startup that helps companies automate the analysis and monitoring of their cybersecurity data, has raised $200 million (€164M) in its latest round of funding which valued the company at $2.4 billion (€2Bn). The funding round was led by the Owl Rock division of Blue Owl Capital Inc (OWL.N), an asset management firm with over $52 billion (€43Bn) under management. Read more

Snapdocs raises $150 million (€123M) in Series D funding

Snapdocs (San Francisco, CA, USA), a leading digital closing platform for the mortgage industry — announced that it has raised $150 million (€123M) in Series D funding. The round was led by Tiger Global with participation from Sequoia, Y Combinator, F-Prime, Maverick, Alkeon, and Wellington Management. And it brings Snapdocs’ total funding to $260 million (€213M) and increases valuation to over $1.5 billion (€1.23Bn). The new funding round will accelerate Snapdocs’ vision of building the digital infrastructure that connects lenders, settlement services, and borrowers together to digitize mortgage closings at scale. Read more

Paysend banks $125M (€102M)

Paysend (London, UK), a fintech that has built a mobile-based payments platform — which currently offers international money transfers, global accounts, and business banking and e-commerce for SMBs — has picked up $125M (€102M) in funding series B, led by One Peak, with Infravia Growth Capital, Hermes GPE, previous backer Plug and Play. The company will use the new fundings to  continue expanding its business geographically, to hire more people, and to continue building more fintech products. Read more

SpotOn Raises $125M (€102M) in Series D Funding

SpotOn (San Francisco, CA, USA), a software and payments company with comprehensive solutions for restaurants and retail businesses, raised $125m (€102M) in Series D funding, increasing its valuation to $1.875 billion (€1.6Bn). The round was led by Andreessen Horowitz with participation from current investors, including DST Global, 01 Advisors, Dragoneer Investment Group, and Franklin Templeton, as well as new investor Mubadala Investment Company. The company intends to use the capital to further accelerate product development and expand its market presence. Read more

Yieldstreet raises $100M (€82M)

Yieldstreet (New York, NY, USA), a company that provides a platform for making alternative investments in areas like real estate, marine/shipping, legal finance, commercial loans, announced that it has raised $100 million (€82M) in a Series C funding round. Participants include Kingfisher Capital, Top Tier Capital Partners and Gaingels. Existing backers Edison Partners, Soros Fund Management, Greenspring Associates, Raine Ventures, Greycroft and Expansion Capital also put money in the round, which brings Yieldstreet’s total raised to $278.5 million since its 2015 inception. Read more

Chipper Cash raises $100 million (€82M) in Series C round

Chipper Cash (San Francisco, California, United States), a cross-border payment application, has raised $100 million (€82M) in a Series C round. The round was led by SVB Capital, a US firm investing in an Africa-focused startup for the first time. Existing Chipper Cash investors like Deciens Capital, Ribbit Capital, Bezos Expeditions and 500 Startups participated. One Way Ventures, Tribe Capital, and Brue2 Ventures also joined the round. The new fundings will aid the company’s product launch in Uganda, Nigeria and a few other countries. Read more

Agicap has raised a new $100 million (€82M) funding round

Agicap (Lyon, France), a cash flow management platform, has raised a new $100 million (€82M) funding round led by Greenoaks. With today’s funding round, the company has reached a valuation of more than $500 million (€415 million). Following today’s funding round, it plans to build a team of 1,000 employees within the next couple of years. Read more

Wayflyer Raises $76M (€62M) in Series A Funding

Wayflyer (Dublin, Ireland), a provider of eCommerce growth platform, raised $76M (€62M) in Series A funding. The round was led by Left Lane Capital, with participation from DST Global, QED Investors, Speedinvest and Zinal Growth, the family office of Guillaume Pousaz (founder of Checkout.com). The company intends to use the funds for marketing, product development and international expansion. Read more

Spiff secures $46M (€37M)

Spiff (Mountain View, CA, USA), an automated commissions platform for businesses, today announced it has raised $46 million (€37M) in a series B round of funding from Lightspeed Ventures Partners, Salesforce Ventures, Stripes, and Norwest Venture Partners. With its latest cash injection, Paul said the company is prioritizing road map items that put trust back into motivational compensation, including adding new sales performance management functionality and making its core designer product more powerful and easier to use. Read more

Truebill has raised a $45 million (€37M) Series D funding

Truebill (Sanfrancisco, CA, USA), a provider of personal finance tracker, has raised a $45 million (€37M) Series D funding round led by Accel. This comes just a few months after the company raised a $17 million (€14M) Series C. Overall, the startup has raised $85 million (€70M) since its creation. Existing investors Bessemer Venture Partners, Cota Capital and Eldridge Industries are also participating in today’s funding round. Read more

Belvo raises $43 million (€35M) in a Series A round 

Belvo (Mexico,Mexico), an open banking API platform, announced today it has raised $43 million (€35M) in a Series A round of funding. Belvo believes the round represents the largest Series A ever raised by a Latin American fintech. In May 2020, Belvo raised a $10 million (€8.2M) seed round co-led by Silicon Valley’s Founders Fund and Argentina’s Kaszek. Read more

Redacted announced $35 million (€29M) in funding

Redacted (Sanfrancisco, CA, USA), a cybersecurity provider, is announcing $35 million (€29M) in series B funding led by Ten Eleven Ventures, with participation from Valor Equity Partners and SVB Capital. The new investment brings the total raised by Redacted to $60 million (€50M) , including a previous funding of $25 million (€20M), which will be used to expand the company’s business. Read more

Red Points secures up to €15 million in debt financing

Red Points (Barcelona, Spain), a counterfeiting, piracy, identity theft and fraudulent online distribution services provider, has secured up to €15 million in debt financing over the next five years from the European Investment Bank. This is the first venture debt activity in Spain as part of the Pan European Guarantee Fund. Red Points has reserved this debt funding to finance further product R&D. Read more

Skiff raises raises $3.7M (€3M) seed

Skiff (San Francisco, CA, USA), an end-to-end encrypted alternative to Google Docs, raises $3.7M (€3M) seed. nce Skiff was founded in March 2020. Alphabet chairman John Hennessy, former Yahoo chief executive Jerry Yang and Eventbrite co-founders Julia and Kevin Hartz also participated in the round. The company will use the seed funding to grow the team and build out the platform. Read more

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