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Weekly Funding Highlights – 5 January 2022

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, ventire firms, credit cards, fintech platforms, security, retail, banks and more. Enjoy reading!

Fintech-focused Ribbit Capital raises $1.15B in seventh fund, according to SEC filing
Ribbit Capital (Palo Alto, CA, US), a venture firm best known for its fintech investments, has raised $1.15 billion in new capital in what appears to be a close of its seventh fund, according to a filing with the U.S. Securities and Exchange Commission (SEC). The new fund, dubbed Ribbit Capital VII LP, is believed to be the final close of the fund. The amount is significantly higher than the $750 million the firm was said to be raising in March of 2021. It is also more than double the $420 million it raised in its sixth fund in January of 2020. Read more.

Fintech Startup OneCard Raises $76 Mn From QED Fund, Sequoia Capital
OneCard (Pune, India), a fintech startup has raised $76 Mn (INR 565.05 Cr) in a funding round led by QED Fund, an existing investor into the startup. According to regulatory filings, FPL Technologies, the parent company of OneCard has approved the allotment of 238 equity shares and 3,26,663 Series C preference shares to raise INR 565,05,75,317.28 or $76 Mn ($ = INR 74.35). QED Fund led the funding round with INR 207.25 Cr. Besides QED Fund, other investors in the round included INVOPPS FT21 LLC, Ocean View Investment and Sequoia Capital. Read more.

iCapital Network Closes $50M Funding Round
iCapital Network (NYC, US), a global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, closed on a $50m funding round. The round was led by WestCap with participation from Apollo (NYSE: APO) and Temasek, which valued the company in excess of $6 billion. Read more.

Ampla Raises $40M in Series A Funding 
Ampla Technologies (NYC, US), a provider of tech-enabled financing solutions for emerging consumer brands, closed its $40m Series A funding. The round, which brought total funding to $380m in equity and debt financing, was co-led by VMG Partners and Forerunner Ventures, with participation from existing investor Core Innovation Capital. The company intends to use the funds to expand operations, increasing its headcount by 100% over the next 3-6 months, from 35 to 70 employees, and its business reach. Read more.

Exotel raises $40M for its full-stack customer engagement platform
Exotel (Bengaluru, India), said it has raised $40 million in a financing round, just three months after securing $35 million in funding, as the Bangalore-based startup demonstrates growth for its full-stack customer engagement platform in emerging markets. Steadview Capital led the startup’s Series D round. Exotel, which counts Blume Ventures and IIFL Asset Management among its backers, has raised about $100 million in a mix of debt and equity rounds in the last 12 months. Read more.

Privoro Raises $30M in Series B Funding
Privoro (Chandler, AZ, US), a mobile security hardware company, raised $30M in Series B funding. The round was led by Tracker Capital Management. As part of the transaction, Louis Bremer, Senior Managing Director of Tracker Capital, and Daniel Goldin, Senior Advisor to Tracker Capital and the longest tenured National Aeronautics and Space Administration (“NASA”) Administrator, have joined Privoro’s Board of Directors. The company intends to use the funds to scale its team, products, and operations to meet demand for its products. Read more.

Focal Systems Raises $25.8M in Series B Funding
Focal Systems (San Francisco, CA, US), a retail automation company, closed a $25.8m Series B financing round. The round was led by Point72 Ventures, joined by existing investors Costanoa, Zetta, and Zebra Technologies, among others. The company will use the new funds to continue its growth and innovation with their AI-powered retail automation solutions, as well as expand its global sales and technical teams. Read more.

Southeast Asian open finance startup Brankas gets $20M Series B led by Insignia Ventures
Brankas (null, Indonesia), an open banking startup for Southeast Asian markets, is entering the new year with a $20 million Series B. The funding was led by Insignia Ventures Partners, with participation from returning investors Beenext and Integra Partners. Other backers included Visa (Brankas was a member of its 2021 Accelerator Program), AFG Partners and Treasury International, the venture capital firm led by fintech veterans including Jeff Cruttenden, co-founder of Acorns and Eli Broverman, co-founder of Betterment, also invested. Read more.

Vietnam’s leading digital bank Timo secures $20 million fresh funding led by Square Peg
Timo , a leading digital bank, received a $20 million investment round which was led by Square Peg, a leading global VC firm whose investments include unicorns such as Canva, FinAccel and Airwallex. Other participants are Jungle Ventures, Granite Oak, FinAccel, Phoenix Holdings (existing investor) and other super angels. Read more.

CellPoint Digital secures £18m to expand payment solutions globally
CellPoint Digital ( London, UK), a  fintech company that provides payment solutions, has secured $25m (£18.4m) in funding from Toscafund and its private equity arm, Penta Capital. The latest equity round brings its total funding raised to $56m (£41.3m). The fintech company will use the funding to accelerate its global reach and enter new market verticals. Read more.

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