Funding News

Weekly Funding Highlights – 26 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.

Open banking-powered lender Koyo raises £100m  (Fintech Global)
Open banking-powered lender Koyo has reportedly raised £100m in debt and £5m in its Series A round. The debt capital was supplied by Atalaya Capital Management, according to a report from AltFi. The equity was supplied by existing investors, including Forward Partners, Frontline Venture and Atalaya Capital Management. Koyo, which launched in 2020, was built on the idea that access to competitively priced financial products and affordable credit is taken for granted and many do not have access to it. Read more

Floryn raises EUR 65 million in financing from NatWest (The Paypers)
Netherlands-based fintech company Floryn has raised a total of EUR 65 million in financing from NatWest. Since its inception, Floryn has received more than 60,000 credit applications, which are assessed using smart technology, such as data analysis and machine learning. The fintech company uses artificial intelligence to look at bank statements and other data points, among other things, with which faster risk analyses can be made. Floryn has a PSD2 license from De Nederlandse Bank (DNB). Read more

Anonos Secures $50 Million in IP-Backed Financing to Deliver Data Privacy Technology with 100% Accuracy and Utility to Data-Driven Enterprises (Business Wire)
Anonos, provider of the only technology that resolves the conflict between data use and protection with 100% accuracy, today announced it has raised $50 million in growth financing backed by its intellectual property (IP) portfolio, facilitated by Aon (NYSE: AON) and led by GT Investment Partners (“Ghost Tree Partners”). The company will use the growth funding to scale customer success and expand partnerships, sales and marketing for its Data Embassy® software platform, which powers secure data processing in untrusted environments with cleartext accuracy and speed for faster insights to achieve enterprise goals. This additional growth capital brings Anonos’ total funding to $70 million, including $20 million in prior funding led by Edison Partners. Read more

Receipt data fintech Banyan raises $43mn in Series A funding (Fintech Futures)
Fintech platform Banyan – which offers item-level receipt data solutions for banks, fintechs and merchants – has raised US$43mn in a Series A funding round led by Fin Capital and M13. The investment will allow Banyan to accelerate its technology and grow its two-sided network, empowering clients to utilise item-level receipt data to improve the shopping experience for partners and improve consumer engagement. Read more

B2B Marketplace MaxAB Raises $40M for MENAP Expansion (PYMNTS)
The Cairo-based B2B eCommerce and distribution business MaxAB on Wednesday (Oct. 19) announced the close of a $40m pre-series B funding round to fuel its expansion across the Middle East, North Africa and Pakistan (MENAP) region. The round included new investors Silver Lake, British International Investment, the development finance institution of the U.K. government, and DisruptAD. Existing investors Beco Capital, 4DX Ventures, Flourish Ventures and Africa Platform Capital also participated in the round. The MaxAB platform is an eCommerce marketplace that connects suppliers and small grocery retailers as well as providing embedded finance solutions to help enable trade. Read more

French InsurTech Neat pulls in €10m (Fintech Global)
French insurance startup Neat, which says it is reinventing the protection of goods and services, has reportedly raised €10m in funding. According to a report from Coverager, the capital came from Octopus Ventures, New Alpha, Mundi Ventures, Founders Future, and several angel investors. Founded in 2022 by former employees of Lovys and Seyna, Neat offers a range of products that merchants can offer customers at the point of sale. Aside from extended warranties, Neat lists travel and mobility insurance as available products. Read more

Netherlands-based cybersecurity app Guardey raises €2.2m (Fintech Global)
Netherlands-based cybersecurity company Guardey has reportedly raised €2.2m in a fresh round of funding. The capital was supplied by an unnamed group of Dutch entrepreneurs and investors, according to a report from Silicon Canals. These investors see a need for helping small enterprises to defend themselves from cyber threats. Guardey has developed cybersecurity tools which currently protect thousands of SMEs. Its plug and play solution works whether the teams are in the office, at home or anywhere else. Users simply connect securely from any device and the platform will instantly warn them when there is a virus, malware or suspicious activity detected. The platform, which encrypts the user’s connection through a VPN, also examines all communication and completes real-time assessments. Read more

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