Funding News

Weekly Funding Highlights – 27 July 2022

New week – new closed funding rounds! This week’s funding highlights cover credit cards, blockchain, investment, crypto and neo banks! Take a look at some major investments of this week.

Australia’s ANZ snaps up Suncorp Bank in $3.3bn deal (Fintech Futures)
Australian banking and financial services firm ANZ is set to acquire Suncorp Bank, the banking unit of Suncorp Group Limited, in a deal worth AUD 4.9 billion ($3.3 billion). The acquisition includes around $32 billion in home loans, $30 billion in deposits and $7.5 billion in commercial loans. ANZ says Suncorp Bank will “initially operate under its existing Authorised Deposit-taking Institution licence with no changes to the total number of Suncorp Bank branches in Queensland for at least three years from completion”. Read more


eWallet scene heats up in Malaysia with TNG Digital raising US$168.3mil funding with Lazada as lead investor (DNA)
Malaysia-based fintech company Touch ‘n Go Group has announced that TNG Digital Sdn Bhd, which owns and operates Touch ‘n Go eWallet, has raised RM750 million in funding. The round is led by leading e-commerce platform, Lazada Group with follow-on investment by parent company Touch ‘n Go. The new investment solidifies the collaboration between key segment leaders, one in e-commerce and one in digital financial services and payments. Read more


Near Protocol Raises $350M (CoinDesk)
Near Protocol – California based global computing company – raised $350 million in a funding round led by hedge fund Tiger Global in a bid to “accelerate the decentralization of the NEAR ecosystem.” The raise comes less than three months after Near announced a $150 million funding round. The price of the NEAR token started inching up on the news, trading at $15.82 as of press time. Read more 


Aptos Labs Raises $150M in Funding Round Led by FTX Ventures (CoinDesk)
Layer 1 blockchain Aptos Labs, which is made up of former employees from Facebook parent Meta Platforms, raised $150 million in a Series A funding round that was led by FTX Ventures, the venture capital arm of crypto exchange FTX, and Jump Crypto. The round included investments from Andreessen Horowitz, Multicoin Capital and Circle Ventures among other crypto firms. Read more 


Brazilian neobank Neon lands $80m (Fintech Global)
Neon, a FinTech and digital bank driven by the vision of improving the lives of working Brazilians, has raised $80m. The capital was raised in the company’s first Credit Rights Investment Fund (FIDC) focused on credit cards. The investment increased the total fund to $170m in equity. Read more


Neobanking platform Fi raises $45 Mn in a new round (ENTRACKR)
Consumer-focused neo-banking platform Fi (formerly epiFi) has raised fresh funds in its series C financing round led by exister backer Alpha Wave Ventures. This is the second round for the Bengaluru-based startup in the last nine months. The board has passed a resolution to allot 2,32,980 Series C Compulsory Convertible Preference Shares (CCPS) to Alpha Wave Ventures at an issue price of Rs 15,239.38 per share to raise Rs 355 crore or $45 million. Read more


Despite market worries, Peter Thiel-backed Shares nabs $40 million for social investing app (Tech EU)
London-based investment app Shares has closed $40 million in funding to tap into a boom in retail trading brought on by the pandemic. Leading the round was Peter Thiel-founded  Valar Ventures. With the fresh round, the fintech has now raised $90 million to date. The new cash will drive its expansion across Europe. Shares expects to go live in the rest of Europe by the end of the year. The startup also plans to enter the Web 3 space and roll out its crypto-asset proposition. Read more


Fintech mx51 raises $32.5 million Series B for global plans (startupdaily.)
Another Australian payment fintech mx51 has raised $32.5 million in a Series B. The lead backer was not disclosed by the startup, which described them only as a “global fintech investor”. Major existing investors, including Mastercard, Acorn Capital, Commencer Capital, Rampersand and Artesian joined the latest raise. The funds for local scale and international expansion, as well as bolstering capabilities to assist with fraud prevention and data-driven customer insights. Read more

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