Funding News

Weekly Funding Highlights – 23 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!

PrimaryBid Raises $190M in Series C Funding
PrimaryBid (London, UK), a fintech platform that provides retail investors with fair access to public markets, raised $190M in Series C funding. The round was led by SoftBank, via its Vision Fund 2, with participation from Molten Ventures and other previous unnamed investors (which are London Stock Exchange Group, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures, ABN AMRO Ventures, Pentech and Outward Ventures). Read more.

India’s Pine Labs secures $150m funding from Alpha Wave
Pine Labs (Noida, India), a fintech company, has received a $150 million investment from US asset management firm Alpha Wave Global. India’s Economic Times reports the cash injection is a mix of primary and secondary funding and takes the Bangalore-based merchant commerce platform’s valuation to more than $5 billion. Pine Labs provides a cloud-based commerce platform offering payment acceptance and merchant commerce solutions, including enterprise automation systems such as inventory management and customer relationship management. Read more.

SA Fintech Clickatell Wins $91-Million in its Latest Round of Funding
Clickatell (Cape Town, California, US), a fintech firm, CPaaS innovator and creator of the Chat Commerce platform yesterday announced it has secured $91-million in its latest Series C round of funding. This round was led by Arrowroot Capital, with participation from Kennedy Lewis Investment Management, Endeavor Global and Harvest. Read more.

Atom Raises More Than £75M in Equity Funding 
Atom bank (Durham, UK), an app-based bank, raised more than £75m in new equity funding as it continues to grow its profitability and drive to IPO. The round will be led by BBVA and by Toscafund with participation from co-investors Infinity Investment Partners. The round is now being opened to other existing shareholders. The digital lender has now raised more than £115m in the last 12 months. Led by Mark Mullen, Chief Executive Officer, Atom launched operations in April 2016, offering Fixed Saver accounts and secured business lending for small and medium-sized enterprises (‘SMEs’), followed by its automated mobile mortgage proposition in December 2016. Atom launched an Instant Saver in September 2020. Read more.

Fintech company Pontera raises $45 million, changes name from FeeX 
Pontera (NYC, US), a fintech company, formerly known as FeeX, announced a $45 million funding round led by Lightspeed Venture Partners. This is the company’s third funding round in a year-and-a-half, with all three being led by Lightspeed. The first round was for $8 million and the second was for $27 million, taking Pontera’s total funding to date to $80 million. The Founders Kitchen, Hanaco Ventures, Hyperwise Ventures, Blumberg Capital, and prominent individual investors also participated in the round. The Founders Kitchen investment fund is led by Uri Levine, founder of Waze, with Levine also being one of FeeX’s co-founders. Levine still serves on the company’s board. Read more.

Fintech Company Weavr Closes $40 Million Series A Funding Round 
Weavr (London, UK), a financial technology (fintech) services provider, has raised $40 million in its latest funding round for global expansion. The company aims to disrupt the banking-as-a-service model (BaaS). Led by Tiger Global, the $40 million investment round saw participation from Mubadala Capital, LocalGlobe’s growth stage Latitude fund, and previous Weavr backers QED Investors, Anthemis and Seedcamp. Read more.

Trullion Raises $15M in Series A Funding
Trullion (NYC and Tel Aviv, Israel), a financial automation platform, raised $15m in Series A funding. The round was co-led by Aleph and Third Point Ventures, with participation from existing investors Greycroft and Verissimo Ventures, and seasoned financial executives including Bob Mylod, Artie Minson, Jody Padar, and Guzel Lumpkin. The company will use the funding to hire across a variety of engineering, sales and marketing roles, as well as accelerate product development. Read more.

Swell Financial Raises $10M in Series A Funding
Swell Financial (Boulder, CO, US), a fintech company, raised $10M in Series A funding. The round was led by Park Cities Asset Management, LLC with participation from Elevate Credit and Central Pacific Financial Corp. The company intends to use the funds to build a consumer line of credit that helps people manage cash flow and tackle debt. Led by CEO Kevin Dahlstrom, Swell is the developer of the Swell App, which includes several features to help customers automatically control spending, tackle debt, and invest in exclusive private market opportunities. Read more.

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