Funding News
Published
Share
Share on facebook
Share on twitter
Share on linkedin
Share on email

Weekly Funding Highlights – 7 July 2021

Find out the latest deals and transactions from fintech! Topics of interest for this week include: digital ID, expense management, insurtech, remittances, payments, digital currencies, regtech and more! Dive into the investments and discover the most relevant names from the industry. Happy reading!

Pine Labs Raises More Money: $600 Million (€507M) Funding Round 

Pine Labs (Noida, India), a digital payments service provider, raised $315 million (€266M) in capital as part of its ongoing fundraise and closed its current funding round at $600 million (€507M). The latest transaction values Pine Labs at $3 billion (€2.5Bn). The funding comes a month after the startup announced that it raised $285 million (€241M) in primary and secondary equity sales from public market investors, including Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management. Read more

Mercado Bitcoin raises $200M (€169M)

Mercado Bitcoin (São Paulo, Brazil), digital currencies company, has received $200 million (€169M) from the investor The SoftBank Latin America Fund. The fundraise values Mercado Bitcoin’s parent company 2TM Group at $2.1 billion, placing it among Latin America’s unicorns – privately held startups with valuations north of $1 billion.The latest capital injection will be used to expand Mercado Bitcoin’s products and infrastructure, as well as to grow the firm’s headcount to 700 people by the end of 2021. Read more

Pleo raises €126.5 million Series C funding

Pleo (København, Denmark), which offers a simplified expense management tool and smart company cards, has just raised its Series C round totalling around €126.5 million. This is the largest Series C raise in Danish history, and one of the biggest Series C rounds in European fintech, giving the company a Unicorn valuation of approximately €1.4 billion. Pleo plans to invest in its team, which currently stands at 330 people, while iterating its product offering, to help both growing and established businesses manage their company spending in a simplified yet efficient way. Read more

Compliance Science has secured $120m (€101M)

Compliance Science (New York, USA), a regtech firm, has secured $120m (€101M) in investment from California-based private equity company K1 Investment Management. ComplySci serves broker-dealers, investment advisers, private equity firms, venture capital firms and hedge funds amongst others in the financial services sector. This growth capital helps the company invest in every part of business to achieve the mission to set the standard for the future of tech-empowered employee compliance. Read more

EIS Receives More Than $100M (€85M) Investment 

EIS (San Francisco, CA, USA), a core and digital platform provider for insurers, received a growth investment of more than $100m (€85M) from TPG. TPG is investing out of TPG Tech Adjacencies (TTAD), its fund focused on flexible capital solutions for the technology industry. The company intends to use the funds to continue to accelerate product development across the spectrum of risk, health, and wealth, and support geographic expansion. Read more

FairMoney raises $42m (€35M)

FairMoney (Paris, France), an app-based bank that uses alternative smartphone data to underwrite microcredit, has raised $42 million (€35M) in a Series B funding round led by Tiger Global Management. With the new funding in place, CEO Laurin Hainy tells TechCrunch that FairMoney plans to add new products, including savings, stock trading and crypto. Read more

Kikoff raises $42M (€35M) in Funding

Kikoff (San Francisco, CA), a provider of a credit building platform, raised $42M (€35M) in funding, led by Portage Ventures. Its Series A was led by Lightspeed Venture Partners and joined by GGV, Coatue and Core Innovation Capital. Kikoff is also backed by investors including basketball star Stephen Curry, Wex CEO Melissa Smith and former CFO of the U.S. Department of the Treasury, Teresa Ressel. The company intends to use the funds to build out its technology and its team, across all functional areas, to bring new products to market. Read more

Codat raises $40m (€34M) in Series B funding round 

Codat (London, UK), which is focused on financial software integrations, has secured $40 million (€34M) in its Series B funding round. The round was led by US investment firm Tiger Global, whose other investments include Stripe, Brex and Checkout.com. There was also participation from existing investors Index Ventures, who led the company’s $10 million Series A round last year, and PayPal Ventures, who invested in the company as recently as March. Read more

itsme raises nearly €25M 

Itsme (Brussels, Belgian), a digital ID app, has raised €24.7 million in funding to take further steps towards providing a European digital identity. The funding round was led by the Federal Participation-Investment Company (FPIM), with participation from existing investors. The deal gives FPIM a fifth of itsme shares, and the investment will be used to expand itsme into a pan-European digital identity provider, according to a Google translation of the article. Read more

Hyperexponential Receives $18 Million (€15M) in Funding Round 

hyperexponential (hx) (London, UK), an insurtech company, has raised $18 million (€15M) in a funding round led by Highland Europe. hx states that it is already profitable and the funding will help boost growth and build out its software for the commercial insurance industry. hx reports that it has created a web-based SaaS platform called Renew that is custom-built to assist actuaries, data scientists, and underwriters. Read more

Monisnap raises €10 million (€8.5M)

Monisnap (Paris, France), a fintech provider providing remittance services, announces a €10 (€8.5M) million funding round from Serena and existing investors. The newly secured funding will support Monisap to expand its B2B offer, further develop its ‘Mobile Money’ service, and support its geographic expansion. Read more

Toqio secures $9.4M (€8M) seed led by Seaya and Speedinvest

Toqio (London, England), a SaaS platform that allows companies to launch a new fintech product, has secured an €8M/$9.4M seed round of funding led by Seaya Ventures and Speedinvest, with SIX FinTech Ventures participating. Founded in 2019 by Eduardo Martínez and Michael Galvin, the teams behind Toqio previously built a small business SaaS startup, Geniac, which was acquired by Grant Thornton. Read more

—————

Do you have any news to share: please put feed@hollandfintech.com on your press list. 

Curious to read and find out more from fintech? Then subscribe & read our full newsletters here: https://hollandfintech.com/featured/newsletters/. In order to see our other weekly highlights, check out the following links: analysis & opinion, research.

Share this Article
Share on facebook
Share on twitter
Share on linkedin
Share on email
Related Insights
Featured
Amsterdam Fintech Week
Take a look at our yearly fintech festival, Amsterdam FinTech Week. Go on the dedicated website to check out the 2021 wrap up!
AMLD5 Guide
A source for consulting PSD2 legislation coupled with commentary, tips & tricks, applicability, in collaboration with our member law firms.