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Weekly Funding Highlights – 6 April 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!

US Fintech Cross River’s Latest Funding Round Tops US620mn
Cross River  (New Jersey, US), a fintech has announced the news that it has raised US$620mn in its latest funding round. The event, which will be used to drive forward Cross River’s expansion plans,  was led by Eldridge and Andreessen Horowitz and saw participation from funds and accounts advised by T. Rowe Price Investment Management, Whale Rock and Hanaco Ventures. Read more.

US start-up Remote raises $300m in Series C funding
Remote (San Francisco, CA, US), a fintech start-up has secured $300 million in a Series C funding round led by SoftBank that now values the firm at around $3 billion. Also participating in the latest funding round were existing investors Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street and Base Growth. The firm previously secured $150 million in a Series B round in July 2021 at a then-valuation of over $1 billion. Read more.

London-based Fidel API lands $65M in Series B funding, proving fintech infrastructure is hotter than ever
Fidel API (London, UK), a financial infrastructure startup has raised $65 million in a Series B funding round led by Bain Capital Ventures. The London-based company provides identity, data and payments products that it says gives developers a way to capture consent permissions and “securely” connect payment cards to a service or application. Read more.

Zvilo signs terms to a €50m debt facility with a London FinTech fund
Zvilo (London, UK), a credit-led challenger, has signed a term sheet for a new debt facility of up to €50m with a London-based alternative asset management company. Zvilo is transforming business lending in the Balkans by providing short-term working capital facilities to SMEs across different value chains. The supplier finance program will be further automated through Zvilo’s proprietary platform, combining scale and accessibility from the outset. The new facility will enable Zvilo to transform the region’s traditional banking sector and revolutionise how SMEs access working capital. Read more.

Venture Catalyst’s Beams Fintech Fund raises $36 million
Beams Fintech Fund (Mumbai, Maharashtra), a Venture Catalyst’s fintech accelerator fund, has raised $36 million (about Rs 270 crore) in its maiden funding round. Domestic and international investors, including banks and non-banking financial companies (NBFCs), as well as some large family offices participated in the round. Beams Fintech, launched in January, was targeting a fund size of $100 million and looking to invest in growth-stage startups in the financial services and technology space. Read more.

SmartHop raises $30M to boost trucking fintech products
SmartHop (Miami, FL, US), a startup that uses AI to help interstate truckers make their routes more efficient and lucrative by removing administrative headaches, just raised a $30 million Series B financing round, bringing the company’s total funding to $46 million following a $12 million Series A last year. The startup’s main offering is its smart dispatch service, which recommends loads to truck drivers that optimize profits and travel time based on their truck capacity, what cities they’re driving through and other details. With the fresh capital, SmartHop aims to focus more on its fintech products, like the company’s fuel card program that offers fuel discounts and other perks, or SmartHop’s insurance offerings. Read more.

Hamburg-based ExpressGroup secures €25 million to democratize financial services for the working class
ExpressGroup (Hamburg, Germany) wants to reimagine fintech products for the working and middle class and is beginning the process by making taxes easier to navigate. The Hamburg-based firm has just secured €25 million in a fresh funding round led by New York-based global private equity and venture capital firm Insight Partners and Project A Ventures. Read more.

Fintech and fertility care startup raises $25M
Future Family (San Francisco, CA, US), a startup combining fertility financing and care support, raised $25 million in Series B funding steered by Munich Re Ventures at a valuation of $80 million, the company’s founder and CEO Claire Tomkins tells Axios exclusively. Investors have been flocking to fertility startups in recent months as the pandemic has helped boost awareness of gender-based inequities in care, funding and family planning. Read more.

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