Funding News

Weekly Funding Highlights – 29 June 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!

Unizen Raises $200M In Funding From Global Emerging Markets
Unizen, a centralized-decentralized (CeDeFi) exchange, received a $200 million capital commitment from Global Emerging Markets (GEM). The company intends to use the funds to improve current systems, bolster innovation, expand the team, market the company’s products, and rapidly accelerate the execution of the trade aggregation ecosystem. The funding is milestone-based and performance-related, which aims to make sure the initial funding is optimized to the fullest. Read more.

Conversion Capital Raises $122M for FinTech Investments
Conversion Capital, a New York City-based early-stage venture capital firm, announced Tuesday (June 28) that it has completed raising capital for Fund III, a $122 million fund that will invest in the FinTech sector. The fund’s FinTech investments will focus on companies developing software, cloud infrastructure and data technologies, according to a press release. In all, the fund will be deployed in 25 to 30 pre-seed and Series A investments. Read more.

London-based Cleo bags €76 million to empower young people with better money management
London, UK-based financial app Cleo has raised €76 million in funding to double-down on the U.S. market and help Gen Z audiences improve their financial health and wellbeing. The Series C round was led by Belgium-based investment company Sofina and backed by existing investors, including EQT and Balderton Capital. Over the course of 6 funding rounds, Cleo has raised approximately $137 million and is an Entrepreneur First alumni. Read more.

Fintech Firm PolySign Raises $53M to Expand Staff
Blockchain fintech firm PolySign (Oakland, CA, US) has raised $53 million in a Series C funding round with participation from Cowen Digital, Brevan Howard, GSR and others, the company said Tuesday in a press release. Valuation for the company following the latest funding round was not disclosed. In addition to the funding round, PolySign has also secured a $25 million credit facility from private equity firm Boathouse Capital. Read more.

Fintech startup Progcap raises $40 mn in funding round backed by Google
Google has invested in Indian startup Progcap (New Delhi, India), that caters to small and medium-sized businesses, as it raised $40 million in its Series C funding round. The funding into Progcap, which serves more than 700,000 small retailers by extending a revolving credit line of $10,000 to $12,500 to them, was led by Creation Investments and Tiger Global. Read more.

Hokodo Raises $40M in Series B Funding Round
Hokodo, a London, UK based digital trade credit provider, raised $40m in Series B funding. The round was led by Notion Capital, with participation from Korelya Capital, Mundi Ventures, Opera Tech Ventures, Anthemis and Mosaic Ventures. The company intends to use the funds for its expansion into new European markets and the development of BNPL solutions for telesales and in-store purchases. Read more.

Revenue Based Financing Startup GetVantage Bags $36 Mn Funding To Scale Tech, Expand To New Territories
Mumbai-based revenue-based financing startup GetVantage has raised $36 Mn as part of a strategic funding round led by Varanium Nexgen Fintech Fund and DMI Sparkle Fund. The round also saw participation from existing investors such as Chiratae Ventures and Dream Incubator Japan, as well as new investors such as Sony Innovation Fund, InCred Capital, Haldiram’s family office, among others. Read more.

Keyway Raises $25M in Series A Funding
Keyway, a New York-based provider of a technology platform that simplifies commercial real estate transactions, raised $25M in Series A funding. The round was led by Camber Creek with participation from Canvas Ventures, Crosscut, Montage Ventures, Thomvest and Parker89. The company intends to use the funds to invest in its technology and machine learning (ML) technology. Read more.

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