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Weekly Funding Highlights – 22 December 2021

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, neolenders, cross-border payments, software, micro-income, investors and more. Enjoy reading!

Indian fintech giant Razorpay valued at $7.5 billion in $375 million funding
Razorpay (Bangalore, India), a startup, which is a market leader in payments processing in India, said Sunday evening it has raised $375 million in its Series F financing round. The new round, which brings more capital to the startup than all its other previous financings put together, was co-led by Lone Pine Capital, Alkeon Capital and TCV. Read more.

Colombian fintech Addi secures $200m funding round led by Softbank, GIC
Addi (Colombia), a fintech startup has raised a $200 million funding round led by Softbank and GIC to help fuel an expansion in Latin America. Despite closing a fundraising round in August, the financial technology company decided to increase its capital to support its ongoing growth, according to Bloomberg. In order to pursue its goal of a five-fold growth increase next year, Addi plans to expand to other markets, in addition to Brazil and Mexico. Read more.

Brazilian neolender Open Co secures $115m funding to boost expansion
Open Co (Bengaluru, India), a consumer credit platform has secured a $115 million investment in a funding round led by SoftBank Latin America Fund. The round also saw participation from current investors Raiz Investimentos, IFC and LTS Open Co was formed earlier this year through the merger of two consumer credit fintechs: Geru and Rebel. Read more.

Uni raises $70 mn in Series A round; one of the largest funding rounds in the Indian fintech space
Uni (Navi Mumbai, Maharashtra), a fintech startup raised $70 million in its latest Series A funding led by General Catalyst, marks to be one of the largest Series A funding rounds in the Indian Fintech space. The round also saw participation from Eight Roads Ventures, Elevation Capital, Arbor Ventures, and existing investors Lightspeed and Accel. Read more.

Cross-Border FinTech Startup TapTap Send Raises $65M
Taptap Send ( New York, NY, US), a cross-border FinTech platform announced that it has raised $65 million in a Series B funding round led by Spark Capital. Additional participants in the funding round included Unbound, Reid Hoffman, Canaan Partners, Breyer Capital, Slow Ventures, Wamda Capital and Flourish Ventures, with other unnamed investors from the Middle East, Africa, Asia and Latin America also participating. Read more.

European tax compliance platform Taxdoo lands $64m in Series B funding
Taxdoo (Hamburg, Germany), a tax compliance platform has closed a $64 million Series B funding round. The round was led by Tiger Global with participation from existing investors Accel, Visionaries Club and 20VC. It comes 11 months after its $21 million Series A and takes the firm’s total funding to date to $85 million. Read more.

Novea closes $55m funding for FinTech Jacana Warranty’s InsureTech Platform
Novea (Cheyenne, Wyoming), Inc., a financial technology software company, recently announced that it has closed $50 million in equity and $5 million in debt financing. The equity proceeds will go towards wholly-owned subsidiaries of Novea, Jacana Warranty and Jacana Insurance to support a proprietary user application platform it developed that revolutionises the consumer warranty and service contracts industry. The debt proceeds will support general corporate overhead expenses. Read more.

Indonesian fintech Flip secures $48M in Series B to support expansion
Flip (Oakland, CA, US), a fintech startup, announced today it has raised $48 million in a Series B to accelerate its growth. The funding brings Flip’s total capital raised to $65 million. Sequoia Capital India, Insight Partners and Insignia Ventures Partners co-led the Series B round. Flip is Insight Partners’ first investment in Indonesia. The startup plans to use the fresh capital to accelerate its business expansion further, strengthen its operations in Indonesia, advance technology and expand its engineering and product teams. Read more

Citi spin-out Proxymity raises $31m in Series B funding round
Proxymity (London, UK), a digital investor communications platform, has raised $31 million in its Series B funding round. Original consortium investors BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, JP Morgan, and State Street all participated in the round. The platform was incubated in Citi and launched in the UK in 2018, following a collaborative pilot partnership with Computershare. Proxymity was then spun out by Citi in April 2020. Read more.

Serial fintech founder raises $20M for Ant Money to make micro-investing even more accessible
Ant Money, a micro-income startup is announcing it has raised $20 million in funding (a mix of previously unannounced seed and Series A capital) and acquired Blast via a stock-for-stock merger. Read more.

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