Funding News
Funding Highlights - 1 September 2021

Weekly Funding Highlights – 24 August 2022

New week – new closed funding rounds! This week’s funding highlights cover personal finance, software, crypto, BNPL, and many more! Take a look at some major investments of this week.

Pakistani Wealth Management Startup Draws Venture Funding (
Pakistani fintech startup Mahaana Wealth Ltd. raised $2.1 million from venture capital firms VEF AB and SparkLabs Group, as well as local insurer IGI Holdings, riding a surge in investment appetite in the world’s fifth most populous nation. The Karachi-based company will invest user funds in stocks and bonds, and plans to launch operations next month. It is targeting workers’ investment needs in a country whose personal savings rate lags significantly behind that of other countries, due to relatively high debt. Read more

Celonis secures another $1B to find and fix process problems in enterprise systems (Teach Crunch)
Germany and NYC based process mining software vendor Celonis announced that it secured a whopping $1 billion in additional capital at a $13 billion post-money valuation, a mix of equity ($400 million) and debt (a five-year $600 million credit line). Technically an extension of Celonis’ Series D, the infusion brings the late-stage startup’s total capital raised to $2.4 billion. The Qatar Investment Authority, Qatar’s sovereign wealth fund, led the new investment in Celonis. Other participants include Activant Capital, Arena Holdings, T. Rowe Price, Franklin Templeton, Durable Capital Partners, TCV, 83North, Accel Partners and Sator Grove. Celonis says the new cash will be put toward product development, customer acquisition and general market expansion. Read more

Saudi fintech platform Tamara raises $100m in series B funding round (Arab News)
Saudi Arabian fintech platform Tamara, which offers buy now, pay later services, raised $100 million in a series B equity round led by venture capital firm Sanabil Investments. The company said in a press release that it will use the acquired funding to expand its product offerings as well as launch into new markets. The round also saw participation from Coatue, Shorooq Partners, Endeavor Catalyst, and Read more

Fintech start-up Pomelo raises $70m in seed financing (Fintech Futures
San Francisco-based fintech Pomelo has secured $20 million in venture capital and a $50 million credit facility as part of a seed funding round. The round was led by Founders Fund and A* Capital with participation from Afore Capital, The Chainsmokers and The Weeknd, among others. Pomelo’s platform combines consumer credit and money transfer with zero transfer fees. In partnership with Mastercard, Pomelo has developed a credit card that allows US customers to “allocate credit” to their loved ones around the world. Read more

Ready Player Me, a platform to build dynamic cross-game avatars for virtual worlds, raises $56M led by a16z (Teach Crunch)
Startup out of Tallinn, Estonia, called Ready Player Me — which has built a popular platform for creating dynamic, animated avatars to use across virtual worlds built and operated by others — is announcing $56 million in funding to grow its business. The Series B is being led by Andreessen Horowitz, the storied VC that has in recent times doubled down on all things web3, including metaverse technology; and it is being joined by a longer list of equally big names. David Baszucki, co-founder of Roblox; Justin Kan, co-founder of Twitch; Sebastian Knutsson and Riccardo Zacconi, King Games co-founders; sports and entertainment company Endeavor; Kevin Hart and Hartbeat Ventures; the TikTok-y D’Amelio family; Punk6529; Snowfro; Collab Currency; Plural; Konvoy Ventures; Robin Chan, co-founder of Fractal; and others are also participating. Read more

Indian savings fintech Jar lands $22.6m in Series B funding (Fintech Futures
Indian fintech start-up Jar has raised $22.6 million in a Series B funding round led by existing investor Tiger Global at a valuation of $300 million. The round also saw participation from existing investors Arkam Ventures, Eximius Ventures, Force Ventures, LetsVenture, Rocketship Venture Capital and WEH Ventures as well as new investors 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital and Prophetic Ventures, among others. Read more

SMB FinTech Muse Finance Raises $20M (

Muse Finance, a London-based digital finance provider for small, medium and growing businesses, announced Tuesday (Aug. 23) that it has raised a $20 million debt facility ahead of its upcoming Series A round, which is planned for early 2023. The latest announcement means that Muse has raised a total of $96 million to date, and the new funds will be used to accelerate expansion and support customers in the U.K. Commenting on the raise, Ann Marie Juliano, founder and CEO of Muse, said, “We’re thrilled to announce that we’ve extended our debt facility at Muse, raising a further $20 million to support UK small businesses. Read more

Rookout raises $16M Series B to scale its developer-first observability platform (Teach Crunch)
Rookout, the Tel Aviv-based startup that describes itself as a “developer-first observability platform,” today announced that it has raised a $16 million Series B funding round led by Fort Ross Ventures. Existing investors TLV Partners, Emerge and Cisco Investments, as well as new investors LIAN Group, Mighty Capital and Binder & Partners, also participated in this round, which brings the company’s total funding to over $28 million. The promise of Rookout is to give engineers more data about how their code runs in production. That, the company argues, sets it apart from more traditional monitoring tools that tend to focus more on the infrastructure and helping SREs do their job and not the live code and business logic that developers care about. Read more

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