Funding News

Weekly Funding Highlights – 26 January 2022

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

Brazilian fintech Creditas hits $4.8bn valuation after funding round
Creditas (São Paulo), a provider of  insurance alongside secured consumer loans and runs an online used-car sales platform, said it had raised $260m from some existing and new shareholders. A Brazilian lending start-up backed by SoftBank has reached a valuation of $4.8bn following its latest funding round, as investors continue to bet on Latin America’s growing financial technology sector. Read more.

Lyra Health Closes $235M in Funding
Lyra Health (Burlingame, Calif.), a  provider of innovative Workforce Mental Health solutions for employers, completed a $235M financing. The round was led by Dragoneer with participation from new investor Salesforce Ventures and existing investor Coatue. The company intends to use the funds to accelerate the delivery of comprehensive, evidence-based, culturally responsive mental health care benefits for employees and their families around the world. Read more.

iTrustCapital Raises $125M in Series A Funding 
iTrustCapital, a Long Beach, Calif.-based software platform for buying and selling cryptocurrencies through individual retirement accounts (IRAs), secured $125m in Series A growth equity funding at a post-money valuation exceeding $1.3 billion. The round was led by Left Lane Capital. In conjunction with the funding, Left Lane’s Matthew Miller, is joining iTrustCapital’s Board of Directors. The company plans to use the proceeds to expand products and services, scale client service and development teams, explore strategic acquisitions, and launch additional marketing channels. Read more.

German fintech start-up Moss secures $86m Series B funding at $573m valuation
Moss (Berlin, Germany), a spend management start-up has raised €75 million ($86 million) in Series B financing. The round was led by US VC firm Tiger Global with participation from A-Star and comes just six months after a $29 million Series A extension round led by Peter Thiel’s Valar Ventures. The firm says it has doubled the size of its team and quadrupled its number of customers in the months since its last round. Read more.

Personetics Raises $85M in Funding 
Personetics, a global provider of financial-data-driven personalization and customer engagement solutions for banks and financial services providers, raised $85m in growth funding. Thoma Bravo made the investment. The company, which secured a total funding of over $160m in 2021 backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital, Nyca Partners and Warburg Pincus, intends to use the funds to continue to expand operations and its business reach. Read more.

BasicBlock Raises $78M in Equity Funding 
BasicBlock (Lincoln NE), a trucking financial technology company, raised $78M in equity funding. The round was led by Autotech Ventures, Clear Haven Capital Management, Emergent Ventures, and Nelnet with participation from Revolution’s Rise of the Rest Seed Fund, SaaS Ventures and TNT Ventures. The company intends to use the funds to continue focusing on factoring while adding and expanding services for carriers to grow their fleets, and growing operations to Chicago. Read more.

Canalyst Raises $70M in Series C Funding
Canalyst (NYC, US), a provider of financial data and analytics solutions, raised $70M in Series C financing. The round was led by Dragoneer Investment Group with participation from Canada Pension Plan Investment Board (CPP Investments) and Alta Fox Capital, as well as existing investors HighSage Ventures, Vanedge Capital, and ScaleUP Ventures.   The company intends to use the funds to double its global headcount to further invest in product development and delivery, global expansion, and customer support. Read more.

Virtru Closes $60M Financing Round
Virtru (Washington, DC), a  data protection company, raised $60M in Growth funding. The round was led by ICONIQ Growth and new investor Foundry Capital with participation from Tiger Global, MC2, Bessemer Venture Partners and New Enterprise Associates. Michael Chertoff, former Secretary of the Department of Homeland Security and co-founder and executive chairman of MC2, and Jon Ein, CEO of Foundry Capital, will join Virtru’s board of directors. Read more.

Payments infra startup M2P Fintech valued at over $600 million in $56 million funding
M2P Fintech ( Chennai, Tamilnadu), a payments infrastructure startup that has established market dominance in India, has raised $56 million in a new financing round, less than three months after closing its previous funding, as it works to deepen its footprints in several international geographies. Insight Partners, the New York-based private equity and venture capital firm, led the Chennai-headquartered startup’s Series C financing round. MUFG Innovation Partners, part of the giant Japanese bank, and existing investors Tiger Global and Better Capital also participated in the ongoing round. Read more.

Parisian revenue-based financing player Karmen raises €22 million in equity and debt funding in seed round
Karmen (Paris, France), the revenue-based, non-dilutive financing dance card. The fintech launched just 8 months ago and has now raised a total of €22 million (€3.5 million equity, €18.5 million in debt) in a seed funding round. The €22 million will allow the company to deploy its subscription economy-focused solution across France, as well as gear up for an entry into southern Europe through a pan-European credit institution partnership. Read more.

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