Funding News

Weekly Funding Highlights – 13 October 2021

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including insurtech, legaltech, payments, banking, credit cards, embedded finance, SaaS and more! Enjoy reading!

Tiger Global in talks to lead over $100M (€86.16m)investment in India’s Slice
Tiger Global is in advanced stages of talks to lead a round of over $100 million (€86.16m) in the Slice (Bangalore, India) based startup. Even as hundreds of millions of Indians today have a bank account, only about 30 million have a credit card. Most people in the South Asian market are not eligible to get a credit card, and even many of those who are don’t bother to get one because the experience of signing up is too clumsy, time consuming and the rewards don’t make up for it. Read more.

Amsterdam-based fintech startup BridgeFund secures €20M; to help SMEs with working capital
BridgeFund, an online business platform that offers fast business credit to SMEs without the intervention of a bank, has raised €20M in growth capital from the Dutch family office. The startup says it will use the funds to expand its operations to other countries in Europe and help small SMEs with working capital. The company expects to pass the threshold of €100M in lending capital to Dutch SMEs this year. Read more.

Neo-insurer Getsafe pushes Series B raise to $93 million (€80m), goes after its own insurance license
Getsafe (Heidelberg, Germany), a neo-insurer has extended its Series B raise to a whopping $93 million (€80m). The first announcement back in December wrapped the Christmas presents at $30 million, and almost 10 months to the day, 63 million more presents are now under the tree. The new cadeaux will help Getsafe secure its own insurance license by the end of this year, as well as push further into new European markets. Since 2015, Getsafe has raised approximately $116 million. Read more.

Alviere Raises $70M (€60.3m) in Funding
Alviere (New York, NYC, US), an embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, raised $70m (€60.3m) in funding. The company intends to use the capital to accelerate its go-to-market plans as well as expand beyond North America to Europe and Latin America. Read more.

Persuit Raises $20M (€17.2m) in Series A Funding
Persuit (New York, NYC, US), a legaltech company, raised $20M (€17.2m) in Series A funding. The company intends to use the funds to invest in accelerated capabilities across its product range and enhanced data insights and hire across all of its functions globally – sales, marketing, finance, customers success and engineering. Read more.

Modern Treasury Raises $85M (€73.2m) in Series C Funding
Modern Treasury (San Francisco, CA, US), a payments operations software provider, raised $85m (€73.2m) in Series C funding. The company intends to use the funds to expand operations and its business reach and broaden its product suite. Read more.

Sure Closes $100M (€86.16m)Series C Funding Round
Sure (Los Angeles, CA, US), a global insurance technology company, closed $100M (€86.16m) in Series C funding. The company intends to use the funds to accelerate global expansion, expedite new product launches, and streamline embedded insurance customer experiences. Read more.

Tekion Raises $250M (€215.4m) in Series D Financing
Tekion (Pleasanton, CA, US), a provider of a cloud-native automotive SaaS platform, raised $250m (€215.4m) in Series D financing. The round was led by Alkeon Capital and co-led by Durable Capital. Other investors include Hyundai Motor Company and several reputable dealer groups across the United States. Advent International, Index Ventures, and FM Capital. Read more.

Adaptive Shield Raises $30M (€25.8m) in Series A Funding
Adaptive Shield (Tel Aviv, Israel), a provider of a SaaS security posture management platform, raised $30M (€25.8m) in Series A financing. The company intends to use the funds to continue to expand operations and its business reach. Read more.

Tiger Global backs African fintech Mono in $15M (€12.9m) Series A round
Mono, an African startup that helps connect consumers’ bank accounts to financial applications, has raised a $15 million (€12.9m) Series A round. New investors were joined by existing ones, including Entree Capital, Lateral Capital, Golden Palm Investments, Acuity VC and Ingressive Capital, bringing Mono’s total raise to a little over $17.5 million since launching last year. Read more.

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