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Weekly Funding Highlights – 23 June 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, cryptocurrencies, trading, investment, AI, insurance, lending, digital assets, banking as a service and more. Happy reading!

Mollie raises €665 million

Mollie (Amsterdam, Netherlands), a payment processor using API, announced that it has raised €665 million in an all-equity round that values the company at €5.4 billion. The plan now for the company is building related services around payments to continue expanding its product offering while also continuing to move into more geographies beyond its core, and biggest, market of Europe. Read more

XSpring Capital raises $225M (€188M)

XSpring Capital (Bangkok, Thailand), an investment management company, has secured a €188M funding round with partners in Thailand to accelerate the development of its financial marketplace that combines traditional and digital asset products. The funding has been raised through a partnership with Thai real estate firm Sansiri, local insurance company Viryah, and Thai private investor and multi-millionaire Mongkol Prakitchaiwattana. Read more

ThinCats raises £160 Million (€187M)

ThinCats (Ashby-de-la-Zouch, UK), an alternative lender, has raised £160 million in strategic investment from Wafra Capital Partners (WCP). Amany Attia, CEO, ThinCats, in a statement said: “This is an important next step for us as a lender and allows us to bring the benefits of non-bank lending to a wider universe of mid-sized businesses.” Read more

Vianai raises $140 million (€117M)

Vianai (Palo Alto, CA, USA), which is working on artificial intelligence technology, raised $140 million (€117M) in a Series C round led by SoftBank’s Vision Fund 2. Investors in Vinai’s latest round include Silver Lake co-founder Jim Davidson, KKR co-founders Henry Kravis and George Roberts and Yahoo co-founder Jerry Yang. Read more

Amber Group raises $100 million (€84M)

Amber Group (HK, Hong Kong), a cryptocurrency trading startup, said on Monday it has raised $100 million (€84M) in a Series B funding round at a pre-money valuation of $1 billion. The firm’s past investors Pantera Capital, Coinbase Ventures and Blockchain.com participated in the new round. The company plans to tap marketers and distribution channels for user acquisition, as well as work on clearing regulatory hurdles in more jurisdictions. Read more

Tractable Acquires $60M (€50M) via Series D Round

Tractable (London, UK), the AI firm assisting insurers with accident and disaster recovery, recently revealed that it has acquired $60 million (€50M) through a Series D round that was led by Insight Partners and Georgian. Tractable’s latest investment round has now doubled the total raised by the firm from $55 million (€46M) to $115 million (€96M) and values the business at $1 billion – making it “the world’s first computer vision ‘unicorn’ for financial services. The proceeds from the investment round will serve to “double down” on accident recovery. Read more

Unit Raises $51M (€42M) in Series B Funding

Unit (New York, USA), a banking-as-a-service startup that empowers companies to embed financial services into their products, raised $51m (€42M) in Series B funding. The round was led by Accel with participation from existing investors Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners. The company intends to use the funds to expand the team, accelerate growth, and fast-track its product offering to enable companies to build banking products in minutes. Read more

Securitize Raises $48M (€40M) in Series B Funding

Securitize (Miami, FL, USA), a digital asset securities company, raised $48m (€40M) in Series B funding. The round was co-led by Blockchain Capital and investment funds managed by Morgan Stanley Tactical Value, which were joined by new investors Ava Labs, IDC Ventures, Migration Capital, NTT Data and Sumitomo Mitsui Trust Bank and existing investors Blockchain Ventures, Borderless Capital, Global Brain, Mouro Capital, Ripio, Ripple and SPiCE VC. Read more

Splash Financial Raises $44.3M (€37M) in Series B Funding

Splash Financial (Cleveland, OH, USA), a digital lending platform that allows borrowers to shop and compare financial products from a network of lenders, secured $44.3m (€37M) in Series B funding. The round, which brought total equity funding raised to date to more than $60M (€50M), includes partners of DST Global, Citi Ventures, Detroit Venture Partners, Firebolt Ventures, and existing investors CMFG Ventures and Northwestern Mutual Future Ventures. The company intends to use the funds to further accelerate growth within its lender network and automated underwriting platform. Read more

Robin.io Raises $38M (€32M) in Series C Funding

Robin.io (San Jose, CA, USA), a leader in Kubernetes-based cloud-native 5G, edge and enterprise application management, closed a $38M (€32M) Series C funding round. The round, which brought the total capital raised to $86m, was led by Rakuten Capital and joined by Clear Ventures, Emory University, Raine Next-Gen Communications and current investors. Read more

Hellas Direct Raises €32M in Funding

Hellas Direct (Athens, Greece), a technology-driven insurance company, raised a further EUR 32m in funding, bringing the total raised to date to €56m. The company intends to use the funds to accelerate its high organic growth across multiple products and distribution channels, to expand into five European markets. Read more

Akur8 raises $30 million (€25M)

Akur8 (Paris, France), an AI-powered insurance pricing platform, has landed $30 million (€25M) from BlackFin Capital and MTech Capital in order to help actuaries and pricing teams make better, faster decisions. To date, Akur8 has raised $42 million (€35M). The new funding will be used to propel expansion and market-specific product features for the largest insurance market in the world, The US. Additionally, the company wants to accelerate the development of products that would cover the entire pricing suite. Read more

Myos Raises $30M (€25M) in Series A Funding

Myos (Berlin, Germany), a fintech company that provides working capital solutions for online retailers, raised $30M (€25M) in Series A funding. The round was led by Fasanara Capital and Xploration Capital, with participation from Tomahawk.VC and a group of new and existing investors. The company intends to use the funds to grow its existing customer base in Europe, enter the international market and continue developing its AI-based lending platform. Read more

Fintech startup Volt collects $23.5M (€20M)

Volt (London, UK), an open banking platform, has raised $23.5 million (€20M) in a Series A led by EQT Ventures. Augmentum Fintech and Fuel Ventures were among the investors participating in the round, which Volt will use to fund product development and its international expansion. Read more

Eltropy raises $21 Million (€18M)

Eltropy, a software company that allows banks, credit unions and other financial institutions to communicate with customers through text messages, received  $21 Million (€18M) from investor K1, an investment management platform. With the $21 million (€18M) investment from K1, Eltropy aims to expand its communication suite and more than double its employee headcount. Read more

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