Funding News

Weekly Funding Highlights – 27 April 2020

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!

Outfund Raises £115M in Series A Funding
Outfund (London, UK), a fintech company for online businesses to raise funds, closed a £115M Series A equity capital and debt funding. The round was led by Force Over Mass, PostFinance, 1818 Venture Capital and Tribe Capital. The company intends to use the funds to expand its global growth, pledging to invest more than £500m of lending to over 5,000 businesses in the next 12 months, to make investments into new products, such as working capital and revolving credit, as well as in team growth. Read more.

CertiK Raises Additional $60M in Funding 
CertiK (New York), a Web3 and blockchain security company, raised $60M in funding. The round was led by SoftBank Vision Fund 2 and Tiger Global. The company, which brings the total amount invested over the past nine months to $290m USD, intends to use the funds to accelerate growth and expand operations. Read more.

TheGuarantors Raises $50M in Series C Funding
TheGuarantors (New York), a fintech company building smart financial and insurance solutions for renters and landlords, raised $50M in Series C funding. The round was led by Portage Ventures, with participation from Kensington Capital Partners, Arch Capital Group, Roosh Ventures, and Alven. The company intends to use the funds to expand its product offerings and team across product, sales and marketing functions. Led by CEO Julien Bonneville, TheGuarantors is a fintech company that, through its platform and partnerships with multiple A-rated carrier partners, offers renters and landlords a suite of financial tools. Read more.

QuotaPath Secures $41M in Series B Funding
QuotaPath (Philadelphia, PA and Austin, Texas),a commissions tracking and automation solution for sales and revenue teams, raised $41m in Series B funding. The round led by Tribe Capital, with participation from existing investors Insight Partners, ATX Venture Partners, Stage 2 Capital and Integr8d Capital. The company intends to use the funds to expand its global team, deepen its investment in technical strategy, expand its product portfolio, providing its paid users with more tools to track, automate and optimize compensation strategies, and integrate with CRMs, ERPs and payroll software. Read more.

Copper Raises $29M in Series A Funding
Copper (Seattle, WA, US), a teen oriented banking platform, raised $29M in Series A funding. The round, which brings total funding to $42.3M, was led by Fiat Ventures with participation from Panoramic Ventures, Insight Partners, Invesco Private Capital and all existing investors. The company will use the funds to expand its banking service into a full-featured financial platform. Later this year, Copper customers will gain the ability to direct funds from their FDIC-backed accounts into a wide range of investments, from individual stocks to mutual funds to cryptocurrency. Read more.

Payroll provider nabs $18.5M to streamline employee payouts (London, England), a payroll tech provider, today announced that it raised $18.5 million in financing led by Target Global with participation from Global Founders Capital, Finch Capital, Partech, Market One Capital, and Inovo. The proceeds will support Symmetrical’s expansion into new European markets and enterprise clients, CEO Piotr Smoleń told TechCrunch via email, as well as the growth of the core 65-person team. Read more.

OneVest Raises CAD $5M in Funding
OneVest (Calgary, Alberta and Toronto, Canada), a provider of an embedded wealth management platform serving fintechs, digital banks and financial institutions, raised CAD$5M in funding. The round was led by Luge Capital, with participation from OMERS Ventures, AAF Management, FJ Labs, National Bank of Canada, NAventures, Panache Ventures, and strategic angels. As part of the round, Karim Gillani, former PayPal executive and current General Partner of Luge Capital, will join the OneVest board. Atul Tiwari, former CEO of Vanguard Canada, will become a strategic advisor to the company. Read more.

Flow keeps the flow flowing, raises €3.5 million 
Flow (Amsterdam, Netherlands), offering a self-driving money service, has raised €3.5 million in a seed funding round as it sets its sights on a pan-European expansion. The fintech startup helps keep users’ in the flow by providing a fully autonomous money management service. The new capital is expected to help the firm press further forward with scaling activities. To date, Flow has raised a total of €4.8 million. Read more.

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