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Weekly Funding Highlights – 2 February 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!

Crypto Firm Fireblocks Raises US$550 Million, Now Valued at US$8 Billion
Fireblocks (New York, NY, US), a platform that allows financial institutions to store, move and issue cryptocurrencies, has raised US$550 million in Series E funding, vaulting its valuation to over US$8 billion. The funding round, co-led by D1 Capital Partners and Spark Capital with participation from General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and Parafi Growth Fund. With the new funds, Fireblocks intends to continue its strategic expansion, broaden its alliances, add to its client base and stakeholders, and extend its ecosystem. Read more.

Brazilian fintech platform Creditas scores $260m in Series F funding
Creditas  (São Paulo, Brazil), a fintech firm has secured $260 million in a Series F funding round. The round was led by Fidelity and saw participation from Spanish fintech fund Actyus and Greentrail Capital. Current shareholders QED Investors, VEF, SoftBank Vision Fund 1, SoftBank Latin America Fund, Kaszek Ventures, Lightock, Headline, Wellington Management and Advent International also contributed to the raise. Read more.

Canadian fintech Koho raises C$210m
Koho  (Toronto, Canada), a fintech firm has raised C$210 million in funding and set out plans to let customers get early access to a portion of their paycheques. The funding round was led by Eldridge and joined by TTV Capital, Drive Capital and Portage Ventures, according to the Globe and Mail. The new funding will also be used for marketing and to increase Koho’s headcount from about 250 to 400, with a particular focus on the engineering team. Read more.

Crypto platform Rain rakes in $100m in Series B funding 
Rain (LA, US), a cryptocurrency platform has raised $110 million in a Series B funding round. The round was co-led by Paradigm and Kleiner Perkins with participation from multiple parties including Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, and CMT Digital. Read more.

CoinTracker Raises $100M in Series A Funding; at $1.3 Billion Valuation
CoinTracker (San Francisco, CA, US),  the market leader in cryptocurrency tax and portfolio tracking for consumers, secured $100m in Series A financing, bringing its total valuation to $1.3 billion. The round was led by Accel, with participation from new and previous investors including General Catalyst, Initialized Capital, Y Combinator Continuity, 776 Ventures, Coinbase Ventures, Intuit Ventures, Kraken Ventures, as well as Claire Hughes Johnson (Former COO, Stripe), Gokul Rajaram (Coinbase and Pinterest board member), Jeremy Liew (Early Investor in Affirm and Snapchat), and Alex Bouaziz (Deel CEO). Read more.

PlexTrac Raises $70M in Series B Funding
PlexTrac (Boise, Idaho), a cybersecurity software company, raised $70m in Series B funding. The round was led by Insight Partners, with participation from existing investors Madrona Venture Group, Noro-Moseley Partners and StageDotO Ventures. The company intends to use the funds to accelerate growth by expanding market reach and increasing brand awareness, while doubling headcount and advancing the product roadmap. Read more.

OneShield Software Raises $50M in Follow-On Funding
OneShield Software (Marlborough, MA, US), a provider of core software solutions to property and casualty insurance companies, raised $50M in Follow-On funding. The round was led by Pacific Lake Partners with participation from existing investors, including Bain Capital Credit, Maven Equity Partners, WSC & Company, and Peterson Partners.   The company intends to use the funds to accelerate investments in product innovation, for both of OneShield’s core platforms, OneShield Enterprise and OneShield Market Solutions, and talent acquisition. Read more.

Inspectorio Raises $50M in Series B Funding 
Inspectorio (Minneapolis, MI, US), a cloud-based AI-powered SaaS solution that helps retailers, brands, suppliers and manufacturers manage risk through digitized quality and compliance programs, raised $50M in Series B funding. The round was led by Insight Partners Other investors included Techstars, Flexport, Ecolab and Matchstick Ventures. The company will use the new funding to expand research and development and to grow its development, product and go-to-market teams. Read more.

Ascend Raises $30M IN Series A; Secures $250M Lending Commitment
Ascend (NYC, US), a modern insurance payments platform, raised $30M in Series A equity funding, bringing the total funding raised to $39M. The round was led by Index Ventures with participation from new investors such as Distributed Ventures and its anchor limited partner NFP, HSCM Bermuda, XYZ Ventures, and a series of strategic angel investors. Read more.

Vesta Raises $30M in Series A Funding
Vesta (San Francisco, CA, US), a mortgage loan origination system software-as-a-service (SaaS) company, raised $30m in Series A funding. The round, which brought total raised since November 2020 to $35m, was led by Andreessen Horowitz with participation from Zigg Capital, Conversion Capital and Bain Capital Ventures. The company intends to use the funds to expand its hiring plans and its SaaS technology to customer environments. Read more.

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