Funding News

Weekly Funding Highlights – 2 March 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!

Cypriot fintech successfully raises €1 mln in funding
WiRE (Cyprus), a financial technology company WiRE, which specialises in the property market, generating analysis, business insights and data reports, announced on Wednesday the successful completion of its seed funding round. The company managed to raise approximately €1 million, one of the largest funding amounts ever seen by a Cypriot start-up, securing investments from both institutional and private investors from the domestic market, as well as from Europe and the United States. Read more.

German Investor CommerzVentures Raises $334M to Boost EU FinTech and Insurtech Startups 
CommerzVentures (Berlin, Germany), a finTech investor has closed a 300 million euro ($334 million) funding round designed to support companies in the FinTech, InsurTech and climate FinTech sectors. The round, announced Tuesday (March 1) on the German company’s website, brings the total funding under management to 550 million euros ($612 million). Read more.

Fintech start-up Niyo raises $100 million in a Series C funding round
Niyo (Bengaluru, IN), a consumer neo-banking platform has raised $100 million in a Series C funding round led by Accel, Lightrock India with the participation from Beams Fintech Fund. Existing investors Prime Venture Partners and JS Capital are also participating in this round along with others. Read more.

Payhawk gains unicorn status after US$100mn funding round
Payhawk (London, UK), a fintech company, has raised an additional US$100mn to extend its Series B round to US$215mn, making Payhwak the first-ever Bulgarian company to achieve unicorn status.This Series B extension arrives only three months after the company’s initial announcement of US$115mn, a round that was announced only 7 months since the closing of a US$20mn Series A round. Read more.

Australian fintech Zeller raises $100M AUD Series B at $1B AUD valuation
Zeller (Sidney, Australia), a neobank for SMBs, has raised a $100 million AUD Series B (about $72.7 million USD), doubling its valuation to more than $1 billion AUD (about $727 million USD). The funding was led by Headline, with participation from Australian superannuation fund Hostplus. Returning investors included Square Peg, Addition and Spark Capital. Read more.

Asset-Financing Fintech M-Kopa Raises $75 Million For Expansion
M-Kopa Holdings (Nairobi , Kenya), raised $75 million in growth equity after a funding round led by Generation Investment Management LLP and Broadscale Group LLC. The capital injection, with money from new investors including LocalGlobe LLP’s Latitude Fund and HEPCO Capital Management LLC, brings M-Kopa’s total equity funding to $190 million, according to an emailed statement. Existing investors CDC Group Plc and LGT Lightrock also participated. Read more.

Fintech Startup Perfios Secures $70 Mn Funding 
Perfios (Bengaluru, India), a fintech startup is raising close to $70 Mn in a funding round from its existing investors Warburg Pincus and Bessemer Venture Partners. The startup is raising the fresh round which seems to be its Series C round at $2 Bn+ valuation $400 Mn valuation, according to Inc42 calculations. Read more.

Weavr Closes $40M Series A Funding to Accelerate Expansion of Plug-and-Play Finance
Weavr (London, UK), a technology provider that enables businesses with Plug-and-Play financial solutions, today announced the close of a $40 million Series A funding round led by Tiger Global. The company is disrupting the current banking-as-a-service (BaaS) model — which can serve only a limited audience because of its heavy costs, compliance and technical burdens as well as long implementation times–by making embedded financial services available to any business with a digital presence. Read more.

Fintech firm Kuhoo raises $20 million seed fund from West Bridge
Kuhoo (Mumbai, Maharashtra), a Fintech platform announced to have raised a whopping $20 million seed fund from West Bridge Capital. The firm aims to utilise this fund to transform the student loan fintech sector. Named after the sweet sound of the bird Cuckoo, Kuhoo aims to provide online loans to students aspiring to study in universities both in India and abroad. It is also the first student loan provider to offer products across various streams like engineering, MBA, executive education, online courses, coaching classes, and even new age courses. Read more.

French fintech Finary raises €8m to transition to ‘modern private bank’
Finary (Paris, Frence), a fintech company has raised €8m in a Series A financing round to fund its strategic plan to build a modern private bank.  The funding round saw investments from existing shareholders Speedinvest & Y Combinator. They were joined by Qonto founders Alexandre Prot and Steve Anavi, and Bitpanda founder Eric Demuth as new investors. Read more.

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