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Weekly Funding Highlights – 5 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.

Satispay hits unicorn status with €320m Series D round (Fintech Future)
Italian paytech Satispay has landed €320 million in a Series D funding round led by Addition, taking its valuation to more than €1 billion. The round also saw existing investors Greyhound Capital, Coatue, Lightrock, Block Inc, Tencent and Mediolanum Gestione Fondi SGR take part. The new funding, which will go towards boosting growth and international expansion, brings the total capital raised by Satispay to more than €450 million since its inception. Founded in 2013 and based in Milan, Satispay is a mobile payment alternative to credit and debit cards. Through its mobile app, it allows users to pay in physical and online stores and exchange money between friends. It claims to provide merchants a “transparent and advantageous” pricing model, with no activation or monthly fees. Read more

Swedish lendtech DBT secures $284m financing from NatWest and Värde Partners (VentureCation)
Stockholm-based lending fintech DBT has secured SEK 3.1 billion ($284m, €‎287m) in financing from UK retail bank NatWest and US investment firm Värde Partners. The financing will increase DBT’s lending ability to Swedish small and medium-sized growth companies, allowing it to meet an increased demand for such financing. DBT CEO and co-founder Alexis Kopylov says the ongoing energy crisis, inflation increases, and rising fuel prices are piling on the pressure for companies, “making it more important than ever to have access to flexible, but long-term financing like the one we can offer”. Read more

Colendi secures $150m credit facility from Fibabanka(Fintech Future)
Turkish micro-lending firm Colendi has secured a $150 million credit line from digital bank Fibabanka to help provide financial support to its customers. Colendi is a “multifunctional” banking-as-a-service (BaaS) fintech that provides payment, loan and investment services for consumers, merchants and financial institutions. The firm will utilise the new facility to provide new loan and investment opportunities as it attempts to “democratise” digital banking services for the underbanked. Read more

Spanish BNPL fintech SeQura lands €150m financing facility from Citi (Fintech Future)
Spanish buy now, pay later (BNPL) firm SeQura has landed a €150 million asset-backed financing agreement with US multinational Citi. The new financing facility, which alongside existing financing partner Chenavari brings the total financing potential to up to €200 million, will support the firm’s expansion across southern Europe. The funding will also be put towards the development and launch of new payment solutions, SeQura says, as well as allowing the firm to invest in “high-growth” initiatives designed to make the firm the go-to partner for merchants. Read more

Barclays backs Liberis with £140m refinancing round (Open Banking Expo)
Embedded business finance platform Liberis has raised £140m in financing from Barclays Bank and BCI Finance as it looks toward expansion. Liberis is also backed by investors such as FTV Capital and UK-based venture builder Blenheim Chalcot. Following this round, Liberis has raised a total of £350 since inception. Liberis’ platform applies machine learning to understand a customer’s risk profile and maximum funding options available to them, enabling higher volumes of origination. This has allowed them to fund almost $1bn to over 21,000 SMEs across the UK, Europe, and the US, in over 50,000 transactions. Read more

Tally bags $80m to free customers from the “cycle of debt” (Fintech Global)
Tally, a financial automation company, has raised $80m in Series D funding led by Sway Ventures. The round also saw participation from rom Menora Mivtachim. Previous investors Kleiner Perkins, Andreessen Horowitz, Shasta Ventures and Cowboy Ventures also took part. Alongside the funding, Tally announced that Ken Denman, a veteran customer-centric technology leader, has joined Tally’s board of directors. Read more

London FinTech Railsr raises $46m in debt and equity (Busness Cloud)
Embedded finance platform Railsr has closed a Series C round of $46 million in debt and equity funding. The London company allows any brand to create and embed financial experiences into any point of the customer journey, including banking, wallets, cards and credit products. The $26m equity portion was led by Anthos Capital, who led Railsr’s Series B in July 2021, and includes other existing investors spanning Europe, North America and Asia: Ventura, Outrun Ventures, CreditEase and Moneta. The debt portion of the round was with Mars Capital, a new investor in the company. Read more

Ex-Uber execs’ startup BRXS secures €3M for its real estate investment platform (Silicon Canals)
Amsterdam-based BRXS, a company that makes real estate investing accessible and affordable for everyone, announced on Monday, September 19, that it has raised €3M in a pre-Seed round of funding. Founded by ex-Uber execs, the recently launched BRXS platform allows users to invest directly into rental properties and build a real estate portfolio, starting from €100. The investment was led by Picus Capital, Axeleo, and several angels, including Pareto. The company says the raised capital will help it to further develop the platform, diversify its offering and expand into new EU markets. Read more

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