Funding News

Weekly Funding Highlights – 17 November 2021

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including payments, fintech, security, anti money laundering, mobile wallets and more. Enjoy reading!

Credit-focused company Upgrade raises $280 million at $6 billion valuation
Upgrade (San Francisco, CA, US), a Fintech company has raised a Series F round just four months after raising its previous round. Today, the company is announcing $280 million in new funding at a $6 billion pre-money valuation. Series F round was led by Coatue Management and DST Global. Dragoneer Investment Group also participated, as well as some existing investors, such as Gopher Asset Management, G Squared, Koch Disruptive Technologies, Old Well Partners, Ribbit Capital, Sands Capital, Ventura Capital and Vy Capital. Read more.

Mexican FinTech Stori Grabs $200M in Series C Funding
Stori (Mexican), a  FinTech on Thursday (Nov. 11) closed a $125 million oversubscribed Series C equity funding round led by venture capital firm GGV Capital and growth-stage investor GIC, paired with a debt raise to fund Stori’s credit card portfolio. Stori also raised $75 million in debt financing from debt capital provider Community Investment Management. Read more.

Brazil’s CloudWalk valued at $2.15 bln after Coatue-led investment
CloudWalk (São Paulo, Brazil), a financial technology company said it was valued at $2.15 billion after a $150m funding round led by Coatue, an investment firm focused on companies in the technology, media and telecommunications space. Read more.

South African Fintech Raises $120 Million in Funding Round Led by Fidelity
JUMO (London, UK), a South African fintech startup, recently revealed it has raised $120 million in a funding round led by Fidelity Management & Research Company. Financial services giant Visa and Kingsway Capital also participated in the funding round, which now sees JUMO valued at $400 million. This latest capital influx comes a year after the startup successfully raised $55 million in what the report calls a similar but unnamed funding round. Read more.

SA fintech startup Ozow raises $48m Series B funding round
Ozow (Cape Town, South Africa), a fintech company has raised a US$48 million Series B funding round to help it further develop its product offering and expand into new markets. The company enables millions of merchants and consumers with easy, fast and secure alternative payment solutions, including QR codes, point of sale, e-commerce, e-billing and peer-to-peer payments. Ozow works with major retailers, including MTN, Vodacom, the Shoprite Group, Takealot, and Uber. Read more.

Fintech startup Clear aims to propel SaaS business after $75M Series C fundraise
Clear (formerly ClearTax), a Fintech startup raised a $75 million Series C financing round led by Kora Capital and Stripe. Moreover, Alua Capital and Think Investments also actively participated in the funding round. Clear’s fund infusion comes just a few days after Stripe acquired Recko — a Bengaluru-based reconciliation software company — which is incidentally the first acquisition made by Stripe in India. Read more.

Stripe backs Irish-founded fintech Imprint in $38m funding round
Imprint (New York, NYC, US),  a branded payments start-up, has raised $38m in Series A funding led by VC firm Kleiner Perkins. It also received backing from Stripe and chat show host James Corden, among others. This provides an opportunity to provide a new kind of branded payment service that benefits both brands and customers. Consumers get 5pc back every time they shop with their favourite brands and 1pc back on products and services from other companies. Read more.

Woo Network Raises $30M in Series A Funding
Woo Network (George Town, Cayman Islands), a DeFi company, closed a $30M Series A funding round. Backers included Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, and Capital, as well as AscendEX, AntAlpha, MEXC Global, LBank, Fenbushi Capital, BitMart, 3Commas Capital, TokenInsight Research, AVATAR (Avalanche Asia Star Fund), and ViaBTC Capital. Read more.

Aplazo Raises $27M in Series A Funding
Aplazo (Mexico City, Mexico), a omnichannel buy now, pay later (BNPL) platform, raised $27m in Series A funding. The round was led by Oak HC/FT, with participation from existing investors Kaszek and Picus Capital. The company will use the funds to accelerate growth, including increasing investment in talent across product, engineering, sales and merchant success, and scale its expansion in 2022 to other Latin American countries. Read more.

Medical Fintech Startup PayZen Raises $15M To Grow ‘Care Now, Pay Later’ Model
PayZen (San Francisco, CA, US) , a medical fintech startup raised $15 million in a Series A round to expand its “care now, pay later” model for hospitals and patients in the United States. The round, announced recently and led by SignalFire, included participation from Link Ventures and 7Wire Ventures alongside previous investors Viola Ventures and Picus Capital. The funding brings the startup’s total investments to $20 million since it was founded in late 2019. Read more.

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