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Weekly Funding Highlights – 6th October 2021

For this funding news, we dive further into the fintech landscape and retrieve the latest transactions. Find out who the latest names are to receive findings from fintech, payments, transactions, banking, risk management, insurtech and more. Enjoy the selected materials!

Mexican fintech Konfio says now worth $1.3 bln (€1.12b) with new capital
Konfio (Ciudad, México), a credit payment solutions company, stated that its valuation has hit $1.3 billion (€1.12b) after a fresh investment round, pushing the SoftBank-backed company into the elite “unicorn” category for startups worth more than $1 billion. Konfio, which helps small businesses secure loans, said in a statement its latest funding totaled $235 million (€203.4m) and the funds will be used to broaden its reach in Latin America’s second-largest economy. Read more.

Insurtech bolttech Extends Funding Round to $210M (€181.8m), Adding 2 New Investors
Bolttech (Hong-Kong, China), an insurtech startup  announced the extension of its recently announced US$180 million (€155.8m) Series A funding round led by Activant Capital Group, bringing the series total to US$210 million (€181.8m). The funding round adds two new strategic investors: Singapore-based global investor EDBI and Alma Mundi Insurtech Fund in Spain (Mundi Ventures). The additional capital will help bolttech further enable its partners and customers with enhanced technology and digital capabilities. Read more.

Construction Fintech Startup Built Nabs $1.5 Billion (€1.3b) Valuation
Built Technologies (Nashville, Tennessee, US), a construction industry-focused financial-technology startup, has more than tripled its valuation to $1.5 billion (€1.3b) after raising $125 million (€108.2m) in an equity funding round led by TCV. Built is currently focused on the U.S. and Canada, but is canvassing options to broaden to countries like the U.K. and Australia as soon as next year, Gilbert said. Read more.

Thailand’s fintech startup Ascend Money lands $150M (€129.8m) at a $1.5B (€1.3b) valuation
Ascend Money (Bangkok, Thailand), a fintech startup behind TrueMoney, an e-wallet service, announced today it has raised a $150 million (€129.8m) Series C round at a valuation of $1.5 billion (€1.3b). Ascend Money will use the proceeds to grow its e-wallet application – TrueMoney Wallet – and expand its digital financial services ranging from digital lending and digital investment to cross border remittances in Southeast Asia. Read more.

Fintech firm XTransfer becomes a unicorn following $138 million (€119.5m) Series D
XTransfer (Shanghai, China), a cross-border financial and risk management services provider, announced that it raised $138 million (€119.5m) in Series D. The round lifts the fintech firm to unicorn status. A unicorn is an unlisted startup valued at $1 billion or more. Read more.

Fintech Till Payments raises $110 million (€95.2m) series C
Till Payments (Sydney, Australia), a payments fintech  has raised $110 million (€95.2m) in a  Series C. The cash  will be used to strengthen Till’s local capabilities, bolster global expansion, and develop its technology further. Till also plans to expand its reach in international markets, including New Zealand, the UK, Europe and US. Read more.

Fintech startup Tag valued at $100 million (€86.6m) in Pakistan’s largest seed round
Tag (New-York, NYC, US), a one-year-old startup that offers banking and financial services to users in Pakistan, has raised over $12 million (€10.4m) in what is now the largest seed financing round in the South Asian market. The round values Tag at $100 million (€86.6m). Read more.

Insurtech Cover Genius hits unicorn after $100 million (€86.6m) series C raise
Cover Genius (Sydney, Australia), an insurtech, has capped a staggering month of capital raises for Australian startups, raising $100 million (€86.6m) in a series C. The funding will be used to expand the insuretech’s global insurance distribution platform and support new e-commerce, property, travel, mobility, auto, B2B and financial services partners. Read more.

FinTech TransferGo closes £37m (€43.5m) Series C
TransferGo (London, UK), a money transfer FinTech has secured £37 million in a Series C funding round. TransferGo connects 3.5m customers across 160 markets. It has processed a massive 13.5m international and local transactions, amounting to over $6bn in money flow. The funding will be used to help expand TransferGo’s customer base, helping more migrants send and receive money across Europe, and develop its product offering in support of its ambitious goal to grow 5x in the next 3-4 years. Read more.

UK Commercial FinTech Bank OakNorth Valued at $5B (€4.3b)
OakNorth (London, UK), a commercial FinTech  was valued at $5 billion (€4.3b) following Indiabulls Housing Finance’s sale of a portion of its 40% stake in the startup bank, The Block Crypto reported, citing unnamed sources. Goldman Sachs acted as an advisor on the deal. Read more.


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