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Weekly Funding Highlights – 19 October 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.

TripActions lands $300m Series G amid business travel resurgence (Fintech Global)
TripActions, an all-in-one travel, corporate card and expense management company, has raised $300m in Series G funding. TripActions leverages real-time data to help companies travel travelling employees safe, reduce spend, and drive productivity. The raise is a combination of $154m in equity from new and existing financial investors as well as a $150m structured capital transaction led by Coatue. This is also sees TripActions reach a post-money valuation of $9.2bn, and marks the third financing round for the company in three years. Read more

Ethereum Decentralized Exchange Uniswap Raises $165M in New Funding (Decrypt)
The crypto bear market may have scared off retail investors, but it hasn’t driven away venture capitalists looking to fund DeFi projects. Uniswap announced its latest raise of $165 million today, led by Polychain Capital. Joining Polychain Capital in the Series B funding round are a16z crypto, Paradigm, SV Angel, and Variant. A Decentralized exchange, or DEX, is an application that lets users trade cryptocurrency directly with each other without using an intermediary. Uniswap is an Ethereum-based DEX that allows users to swap ERC-20 tokens. Read more

With $67M in new capital, NorthOne is doubling down on SMBs as some fintech companies pull back (TechCrunch)
New York-based challenger bank NorthOne is one such example. Founded by Eytan Bensoussan and Justin Adler in 2016, the startup was born to serve small business owners such as barbers, mechanics and local restaurant owners. To help fuel continued growth, the startup is announcing it has raised $67 million in a Series B funding round that included participation from Battery Ventures, Don Griffith, NFL player Drew Brees, Ferst Capital Partners, FinTLV, Next Play Capital, Operator Stack, Redpoint Ventures, Tencent and Tom Williams. The financing brings NorthOne’s fundraising total to $90.3 million since inception. The company declined to reveal valuation, saying only that it was an “up round” that closed in late summer. Read more

GoHenry raises $55m for European expansion (Finextra)
GoHenry, the UK-based provider of a pre-paid debit card and financial education app for kids, has raised $55 million to fund its move into new markets. Existing investors Edison Partners and Revaia joined the round, alongside new capital from Italian paytech Nexi. GoHenry, which launched in the UK ten years ago and has since expanded to the US, claims more than two million users for its kids-focused fintech app. The firm says a pandemic-inspired shift away from cash helped it to double revenue to $42 million last year. Read more

Beginner’s investing app Stash Financial bags $52.6m debt (Fintech Global)
Stash Financial, a beginner’s investing app, has reportedly closed a $52.6m debt offering, which came from a dozen of investors. The capital was supplied by a mixture of existing and new investors, according to a report from CoinDesk. Stash is an investing app for beginners that helps Americans build diverse investment portfolios. Its mobile app boasts automated investing, with users simply answering questions at the creation of the portfolio. It will create a diverse portfolio, including investments into US companies, emerging markets, foreign markets, bonds and cryptocurrencies. Read more

Landis secures Series B on mission to make more homeowners (Fintech Global)
Landis, which is helping renters to become homeowners, has closed its Series B funding round on $40m. GV, which was formerly Google Ventures, served as the lead investor. Additional contributions came from existing backers Sequoia Capital, Jay Z’s Roc Nation fund Arrive, the National Association of REALTORS’s Second Century Ventures, Operator Partners, Signia Ventures and Team Builder Ventures. This capital will help Landis bolster its growth and expand its coaching program. Read more

Nourish Ingredients gets $28.6M boost for its animal-free fats (TechCrunch)
Nourish Ingredients, a food tech company that creates animal-free fats using synthetic biology, secured $28.6 million in Series A funding, led by Horizons Ventures and supported by Main Sequence Ventures and Hostplus. We previously profiled the Australian company in 2021 when it raised $11 million. It is one of the few companies in the food tech sector focused on developing the fats and oils that make alternative proteins have better smell, taste and cooking capabilities than traditional meat. Creating that flavor parity has been one of the lingering challenges for alternative protein makers, James Petrie, co-founder and CEO at Nourish Ingredients, told TechCrunch. Read more

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