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Weekly Funding Highlights – 9 June 2021

For this week’s funding, the financial landscape takes a dive into topics such as banking, neobanks, cybersecurity, software, retail finance and more. See below the latest transactions, funding rounds and investments within fintech.

US banking app Dave hits $4bn ($3,28bn) valuation

Dave (LA, CA, US), a banking app, is set to go public via a special purpose acquisition (SPAC) deal at a valuation of around $4 billion ($3,28bn). Read more

Brazil’s Nubank receives $500m (€410,25m) from Berkshire Hathaway

Nubank (São Paulo, Brazil), a neobank, has received $500 million (€410,25m) in funding from US conglomerate Berkshire Hathaway. The investment, alongside an additional $250 million raised from investors including the Canada Pension Plan Investment Board, MSA Capital and Sunley House Capital, brings the bank’s total funding for 2021 to $1.15 billion – the largest round ever raised by a South American technology company. Read more

Circle raises $440m (€361,02m) in financing to drive expansion

Circle (Boston, MA, US) has announced it has raised $440 million (€361,02m) in financing to fuel the company’s continued growth, organisational development and market expansion opportunities. Read more

Trulioo Raises USD $394M (€323,28m) in Series D; at $1.75 Billion Valuation

Trulioo (Vancouver, Canada), an identity verification company, completed a $394M (€323,28m) Series D funding round at a $1.75 Billion valuation. The company intends to use the funds to expand operations and its business reach. Read more

Tencent leads €150 million round in Scalable Capital

Scalable Capital (München, Germany), a digital wealth management platform, has raised more than €150 million in a Series E funding round led by Chinese tech conglomerate Tencent. Existing investors also participated, with the new capital bringing the total raised by the firm to €260 million. Read more

Private equity giant Warburg Pincus backs Series E of cybersecurity company Aura

Aura (Burlington, MA, US), a digital security platform, has closed its Series E round of $150m (€123,08m), which was led by private equity giant Warburg Pincus. Funds from the round will help the RegTech company bolster its customer experience, grow its user base, develop new features and implement programmes to increase customer awareness through a national advertising campaign. Read more

Stackline Secures $130M (€106,67m) Strategic Investment from TA Associates

Stackline (Seattle, WA, US), a technology company that builds subscription-based ecommerce tools for thousands of the largest consumer brands and retailers, received a $130m (€106,67m)  strategic investment from TA Associates. Read more

Capchase Raises $125M (€102,56m) in Series A Funding

Capchase (New York, US), a provider of non-dilutive capital, raised $125m (€102,56m) in Series A equity and debt funding. Read more

HRTech startup SmartHR becomes Japan’s 6th unicorn after raising $115M (€94,36m)

SmartHR (Tokyo, Japan), a HRTech startup, has secured about $115 million (€94,36m) in the latest series D round, which brought their valuation up to 170 billion yen ($1.6 billion US) and let them join the Unicorn Club. Read more

Brinqa Raises $110M (€90,25m) in Growth Funding

Brinqa (Austin, TX, US), a cyber risk management company, received $110m in growth funding. Read more

Mythical Games raises $75M (€61,54m) for Blankos Block Party game and playable NFTs

Mythical Games (Sherman Oaks, CA, US), a next-generation game technology studio, has raised $75 million (€61,54m) to launch its Blankos Block Party open-world multiplayer game as well as its platform to create games with nonfungible tokens (NFTs). Read more

Kin Insurance Closes $69.2M (€56,78m) Series C Funding

Kin Insurance (Chicago, IL, US), an insurance technology company, raised $69.2M (€56,78m) in Series C funding. The company intends to use the funds to ramp up hiring and expand into new markets such as Texas and the Gulf Coast, and hurricane-prone regions that touch the Atlantic Ocean. Read more

Chia Network Raises $61M (€50,05m) in Series D Funding

Chia Network (San Francisco CA, US), a provider of smart transaction platforms, raised $61M (€50,05m) in series D funding. Read more

Bench secures $60 million (€49,23m)

Bench (Vancouver, Canada), a bookkeeping service, has raised almost $60 million (€49,23m) in Series C financing and announced the launch of Bench Core and Bench Flex, two new banking product offerings. Read more

Airbase Raises $60M (€49,23m) in Series B Funding

Airbase (San Francisco, CA, US), a spending management platform for small and midsize companies, raised $60M (€49,23m) in Series B funding. The round, which brought total venture funding to $91M, was led Menlo Ventures, and includes new investor Craft Ventures. Read more

Branch Insurance Raises $50M (€41,02m) in Series B Funding

Branch Insurance (Columbus, OH, US), a home and auto insurance startup, raised $50m (€41,02m) in Series B funding. The company, which has raised $82.5m to date, intends to use the funds to accelerate its rollout across the U.S. to enable more national embedded partnerships. Read more

Credit Sesame raises $51m (€41,85m)

Credit Sesame (Mountain View, CA, US), a free personal financial management tool, has raised $51 million (€41,85m) in growth capital and acquired rent reporting platform Zingo. The funding round was joined by Healthcare of Ontario Pension Plan, Menlo Ventures, ATW Partners, Globespan Capital, IA Capital Group, Inventus Capital, and more. Read more

Grabango Raises A $39 Million (€32,00m) Series B Round For Its Checkout-Free Grocery Technology

Grabango (Berkeley, CA, US), a provider of checkout-free shopper technology for existing stores, raised a $39 million (€32,00m) Series B round led by existing backer Commerce Ventures with participation from Founders Fund, Honeywell Ventures and Unilever Ventures, among others, including large players in the grocery sector. Read more

Overhaul Raises $35M (€28,72m) in Series B Funding

Overhaul (Austin TX, US), a company provider of software-based, supply-chain visibility, integrity, and security solution, raised $35M (€28,72m) in Series B funding. The round, which brought total funding to $55m, was led by Macquarie Capital, with participation from Edison Partners and Avanta Ventures (venture arm of CSAA Insurance Group). Read more

Tiger Global leads $30M (€24,62m) investment into Briq, a fintech for the construction industry

Briq (Santa Barbara, CA, US), which has developed a fintech platform used by the construction industry, has raised $30 million (€24,62m) in a Series B funding round led by Tiger Global Management. The financing is among the largest Series B fundraises by a construction software startup, according to the company, and brings Briq’s total raised to $43 million since its January 2018 inception. Read more

Divido bags $30M (€24,62m) to take its ‘buy now, pay later’ platform to more markets

Divido (London, UK), a white-label platform for retail finance that integrates with e-commerce platforms (but can also support omni-channel) so retailers can offer consumers a “buy now, pay later” option at the point of sale, has bagged a $30 million (€24,62m Series B to fund international expansion. Read more

Blockdaemon Raises $28M (€22,97m) in Series A Funding

Blockdaemon (New York, US), a provider of a blockchain infrastructure platform, raised $28M (€22,97m) in Series A funding. The round was led by Greenspring Associates, with participation from Goldman Sachs, BlockFi, Warburg Serres, Uphold, Voyager Digital Ltd., Illuminate Financial, and Hard Yaka, Boldstart Ventures, Coinfund, Kenetic, CoinShares, Borderless Capital, Blockchain.com Ventures, Lerer Hippeau and Heavybit. The company intends to use the funds to accelerate operations and its business reach. Read more

Unchained Capital Raises $25M (€20,51m) in Series A Funding

Unchained Capital (Austin, TX, US), a provider of financial services for individuals and businesses, raised $25M (€20,51m) in Series A funding. Read more

TailorMed Raises $20M (€16,41m) in Funding

TailorMed Medical Ltd (New York, US), a digital financial health company, raised $20M (€16,41m) in funding. Read more

Kafene raises $14M (€11,49m)

Kafene (New York, US), a digital web and app-based lease to own platform that underwrites, approves, and enables payment instantly, raises $14M (€11,49m) to offer buy now, pay later to the subprime consumer. Read more

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