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Weekly Funding Highlights – 13 July 2022

New week – new closed funding rounds! Besides putting quite a large amount of money into insurance, cards, credits and cyber security fintech sectors, investments this week also lead to one more fintech unicorn! Take a look at some major investments of this week. 

Wefox grabs $400M at $4.5B valuation to buck the insurtech downturn trend
European insurance tech startup Wefox (Berlin, Germany), has raised $400 million in a series D round of funding, giving the German company a post-money valuation of $4.5 billion. Wefox’s Series D round was led by Mubadala Investment Company, with participation from LGT, Horizons Ventures and Omers Ventures. Flush with cash, the company said that it plans to enter new European markets in 2022, with longer-term plans to expand into the U.S. and Asia in 2024. Read more

Cyber Insurer Coalition Gets $250 Million Investment
Coalition (San Francisco, CA, US) closes $250 Million in Series F funding, led by Allianz SE, Valor Equity Partners and Kinetic Partners Management, valuing The Cyber Insurance Provider At $5 Billion. The San Francisco-based company offers cybersecurity, insurance and risk management services focused on digital assets and works with more than 160,000 customers. Read more

Fintech Startup OneCard Becomes India’s 104th Unicorn After Raising $100 Mn From Temasek
Pune-based fintech startup OneCard has become the latest entrant to the unicorn club after it raised about $100 Mn (about INR 802 Cr) in a fresh funding round. The new funding round, which seems to be the startup’s Series D round, was led by Singapore’s sovereign fund Temasek, which invested INR 375 Cr. The round also saw participation from investors such as Sequoia Capital, Ocean View Investment, QED Holdings, Matrix Partners, Hummingbird, among others, as per the startup’s regulatory filings. Read more

Hidden Road Secures $50 Million in Series A Funding Round
Hidden Road, a British Virgin Islands-based provider of a credit network for investors, raised $50M in Series A funding. The round was led by Castle Island Ventures, with participation from Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, Coinbase Ventures and Corner Capital. The company intends to use the funds to accelerate growth and expand operations. Read more

Creditas announces expansion of Series-F round and recently closed M&A transactions
Creditas, São Paulo-based fintech platform for secured and specialized financial solutions, announces a US$50 million extension to its US$260 million Series-F financing round bringing the total to US$310 million. The round expansion brings in Andbank, the global private bank, and helps build a strategic partnership among both companies. Read more

Lightspeed Venture Partners Leads $25m Series A For Investment App Lightyear As It Launches Across 19 European Markets
The new London-based investment platform Lightyear announces a $25M Series A equity round led by Lightspeed Venture Partners. The company’s seed investors, Mosaic Ventures, Taavet+Sten and Metaplanet also took part in the round alongside a number of new and existing angel investors. Joining Lightspeed in this new investment round is the Virgin Group – an organisation which champions driving positive change through new technologies and joins the Series A as an investor. The fresh funding comes at the same time as Lightyear’s expansion into 19 European markets, just nine months after it launched in the UK. Read more

London-based fintech startup Griffin banks €15 million for its self-service BaaS platform
London-based Banking-as-a-Service startup Griffin has just announced a raise of about €15 million. The round was led by  Notion Capital, with participation from existing investor EQT Ventures as well as fintech angels including William Hockey, co-founder of Plaid and founder and co-CEO of Column, Nilan Peiris, VP of Growth at Wise, Rob Straathof, CEO at Liberis and Shane Happach, CEO of Mollie and ex CCO Worldpay. Griffin also welcomes Notion Capital co-founder and managing partner Stephen Chandler to its board of directors. Founded in 2017, Griffin wants to become the bank that fintech companies can build on. Read more

Stableton secures CHF 15 million in Series A round
Stableton Financial AG, a Switzerland-based platform for Alternative Investments, completed the closing of its CHF 15 million Series A funding round. Besides TX Ventures, the VC investment arm of TX Group, Stableton’s round included significant investments from C3 EOS VC Venture Fund and existing investor DEWB, which led Stabletonʼs Seed round. Stableton will use the funds to scale the existing activities in Switzerland, broaden its technological offering and available investment structures, and expand internationally during the coming months. Read more 

B2B payments startup Hero secures €12mn in fresh funding
French fintech startup Hero has raised €12.4mn to scale its B2B payments solution, just seven months after starting out. The Series A financing round is being led by Paua Ventures, Embedded/Capital and Rapyd Ventures. Further investment comes from angel investors including Guillaume Princen of Stripe, Phillippe de Passorio of Adyen and Peter O’Higgins of Revolut. Read more

Juspay cofounder’s startup Hyperface raises $9 million in funding from 3one4 Capital, others
Hyperface, a Bengaluru-based modern transaction credit platform, has announced that it has closed a $9 million seed funding round led by 3one4Capital with participation from existing investors, including Global Founders Capital, and Better Capital, and new investors Flipkart Ventures, Groww, and Rebalance Angel Community. Read more

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