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.
InsurTech Pie raises a “monumental” $315m (Fintech Global)
Pie Insurance, a leading tech-enabled provider of workers’ compensation insurance to small businesses, has raised $315m in Series D funding. The round was led by Centerbridge Partners and Allianz X, the digital investments arm of Allianz Group. White Mountains Insurance Group also joined as a new investor. Previous investors Gallatin Point Capital, Greycroft, Acrew Capital and others also participated in the round. Pie aims to leverage technology to transform how small businesses buy and experience commercial insurance, with the goal of making it affordable and “as easy as pie”. Read more
Tech rental unicorn Grover locks in another €270m in funding (altfi.com)
Berlin-based fintech Grover has raised another €270m in funding just five months after its Series C round catapulted it to unicorn status. The tech-subscription platform has agreed the new debt financing facility with international asset manager M&G as it readies itself for the next phase of growth. It plans to use the funds to expand its product inventory to meet the “rising demand” from customers in existing markets, including Germany, Spain and Austria, as well as new European markets. Read more
Jack Mallers’ Crypto Payment Firm Strike Raises $80M (CoinDesk)
Strike, a Chicago-based bitcoin payment provider run by crypto entrepreneur Jack Mallers, raised $80 million in a Series B funding round that was led by Ten31, according to a press release on Tuesday. Other participants included Washington University in St. Louis, the University of Wyoming and previous investors. The fresh capital will be used to enhance Strike’s payment network for merchants and consumers. Several big e-commerce companies use Strike’s app, including Blackhawk, NCR, and Shopify (SHOP). Read more
Data and analytics provider AccessFintech nabs $60m in Series C (Fintech Global)
AccessFintech, a data and analytics platform for the financial industry, has received $60m in its Series C funding round. WestCap, a growth equity firm, served as the lead investor. Other commitments came from BNY Mellon and Bank of America. Several of AccessFintech’s Series B investors also joined the latest round. These include Dawn Capital, J.P. Morgan, Goldman Sachs and CitiGroup. With the funds, AccessFintech will expand its collaborative data management network to additional markets. Read more
MPCH Labs raises $40 million Series A, emerges from stealth (The Blocks)
Tech venture studio MPCH Labs has announced it raised $40 million in a Series A round to develop the next generation of multi-party computation (MPC) technology. The fundraising round is led by Liberty City Ventures and includes other backers including trading firms QCP Capital and LedgerPrime, as well as VC players such as Animoca, Human Capital and Oak HC FT, according to a company release on Tuesday. Read more
Embedded finance platform Shaype raises A$33m (Finextra)
Australian embedded finance platform Shaype has raised A$33 million in a Series C funding round led by Regal Funds Management. Shapye’s platform offers single API access to a full suite of microservices for payments, KYC, data, insights and real-time transaction monitoring. The Sydney-based firm is planning to roll out new services for financial services, HR, proptech and government before the end of this year. The new funding will be used to beef up its 100-strong team and push international expansion. Read more
Startup Hadean raises £28m ‘to power the Metaverse’ (BusinessCloud)
Startup Hadean has secured £28 million in funding to build out its metaverse infrastructure technology. The London company’s tech already supports virtual worlds in immersive entertainment and enterprise digital twins. Molten Ventures led the Series A round. It was joined by 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First and InQTel. Epic Games invested separately. “Hadean’s computing power will provide the infrastructure that’s needed as we work to create a scalable metaverse,” said Marc Petit, VP of Epic’s Unreal Engine Ecosystem. Read more
Equity management platform Ledgy raises $22m Series B (Fintech Futures)
Start-up-focused equity management platform Ledgy has secured $22 million in Series B funding as it looks to expand across Europe. The round, led by New Enterprise Associates (NEA), saw participation from Sequoia Capital, Speedinvest, btov, Visionaries Club and VI Partners, as well as existing angel investors. NEA partner Jonathan Golden will also join Ledgy’s board of directors. The Series B comes a year after a $10 million Series A, led by Sequoia, which saw Sequoia partner Luciana Lixandru join Ledgy’s board. The Ledgy platform supports high-growth companies by enabling them to better understand their cap tables so they can successfully raise the funds they need while helping to retain talent by providing visibility and insight into what the equity ownership component of their remuneration packages means to them. Read more
Shaype secures USD 21.4 mln in Series C funding (The Paypers)
Australia-based fintech Shaype has secured a USD 21.4 million in equity investment in a Series C funding led by Regal Funds Management. The latest investment round’s revenue will be directed at accelerating growth, having as a focal point the expansion of the team to help support a full pipeline of Australian clients, as well as international development. Shaype’s Series C closing has an uplift in valuation, while global equity markets and the technology sector particularly have undergone a material repricing in valuations in 2022. Australian fintech companies raised USD 0.8 billion during the first half of 2022, indicating that by the end of the year fintech investments are expected to be down 39% compared to 2021. Read more
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