Funding News

Weekly Funding Highlights – 1 February 2023

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

Amsterdam’s cybersecurity startup Hadrian bags funding from ABN AMRO Ventures (Silicon Canals)
Amsterdam and London-based Hadrian, a cybersecurity startup that offers real-time exposure management and automated security testing, announced on Tuesday, January 24, that it has raised fresh funding from ABN AMRO Ventures. ABN AMRO Ventures is the venture capital investment arm of ABN AMRO. The funding amount has not been disclosed. Rogier Fischer, CEO of Hadrian, says, “From day one, there was a clear match with our product offering and their security challenges. This investment showcases that our product is not in alpha anymore and is delivering value to large enterprises. Together with ABN AMRO Ventures, we will achieve our mission, to deliver real-time exposure management to a billion digital assets, significantly earlier.” Read more

UK fintech Raylo bags £110m debt financing facility (Fintech Futures)
London-based fintech Raylo has secured a £110 million debt financing facility from NatWest and Quilam Capital. Founded in 2019, Raylo provides consumers with “affordable” access to high-value tech products on a monthly subscription basis. It also offers Raylo Pay, a checkout integration for merchants. With the new funding facility, Raylo plans to grow both its direct-to-consumer channel as well as its Raylo Pay offering. It claims the number of retailers using Raylo Pay has grown 10x in the last six months. The firm will also put some of the cash towards building out its infrastructure with the intention to tap into the securitisation markets in the future. Karl Gilbert, co-founder and CEO of Raylo, says the company aims to provide customers “with affordable and sustainable access to the tech products they really want”. Read more

US payments platform Moov lands $45m Series B (Fintech Futures)
Moov, an open source platform enabling users to integrate payments into their products, has raised $45 million in Series B funding. The round was led by Commerce Ventures and saw participation from Andreessen Horowitz, Bain Capital Ventures, Visa and Sorenson Ventures. Announcing Moov’s $45 million Series B, the firm’s co-founder and CEO Wade Arnold says the new funding “will help us refine our platform, address new payments use cases, and scale everything we’ve built so far”. Arnold says the firm also intends to hire new talent and focus on its “community of builders”. In December 2020, Moov raised $27 million in a Series A funding round led by venture firm a16z, after an August seed round which brought in $5.5 million. Read more

Liberis lands €30m in debt financing from Silicon Valley Bank UK (Fintech Futures)
UK-based embedded finance platform Liberis has secured €30 million in debt financing from Silicon Valley Bank UK as the firm sets its sights on European expansion. The debt financing brings the total funds raised by Liberis to €430 million, which includes more than €80 million in equity funding. Silicon Valley Bank UK joins existing investors Barclays Bank, BCI Finance and UK-based Blenheim Chalcot. The funding will support Liberis’ targeted expansion across the Nordics and Europe, with a particular focus on Poland and Germany. Liberis leverages machine learning to understand a company’s risk profile and the funding options available to them, which it claims enables higher volumes of origination. The firm has provided more than 23,000 small and medium-sized enterprises (SMEs) with almost €1 billion worth of revenue-based financing since its inception in 2007. Read more

Hawk AI, an anti-money laundering and fraud prevention platform for banks, raises $17M (Tech Crunch
Hawk AI, a German company developing anti-money laundering (AML) and tangential fraud prevention smarts for financial institutions, has raised $17 million in a Series B round of funding. Prior to now, Hawk AI had raised $10 million, and with a fresh $17 million in the bank, the company said that it plans to bolster its product development and global expansion plans. The Series B round was led by Sands Capital, with participation from Picus Capital, DN Capital, Coalition and BlackFin Capital Partners. Founded out of Munich in 2018, Hawk AI serves to improve how banks and payment companies manage their compliance risks through a cloud-native, modular AML surveillance system that promises the “highest level of explainability” in its AI-powered decision-making engine, which is pivotal for audits and regulatory investigations. Read more

Floodbase launches parametric flood solution and bags $12m (Global Fintech)
Floodbase, a climate adaptation technology company, has released a flood solution for parametric hurricane policies and raised $12m in Series A funding. Founded in 2021, Floodbase is a climate adaptation technology company that provides precise, near real-time data and analysis on flooding and flood risk. Powered by 15 satellites, machine learning, and on-the-ground data, Floodbase’s technology provides better data to insurance companies and governments to inform better flood preparedness and recovery decisions. The funding round was led by Lowercarbon Capital with participation from Collaborative Fund, Floating Point and Vidavo. As climate change makes storms stronger and wetter, Floodbase said its flood data makes it possible for insurers to offer residential and commercial policyholders protection against hurricane flood damage. Read more

Madrid-based Twinco Capital cashes in €11 million for its global supply chain finance solution (EU-Startups)
Based in Madrid and Amsterdam, Twinco Capital is on a mission to give the fashion and retail industry a complete supply chain solution. The female-led fintech has just raised €11 million to fuel the creation of more competitive and socially responsible supply chains, empowering small businesses to thrive. The investment was led by Quona Capital, and included participation from Working Capital, as well as existing investors Mundi Ventures and Finch Capital. Zubi Capital provided the venture debt portion. Founded by Sandra Nolasco and Carmen Marín, Twinco combines tech with access to data to assess performance risk in order to fund both small and large suppliers around the world. The startup, based in Madrid and Amsterdam, has just raised €11 million ($12 million) to scale. Read more

Danish FinTech Scaleup Finance raises country’s biggest seed deal (Global Fintech)
Scaleup Finance, a Danish FinTech company offering financial management technology, has reportedly raised the biggest seed round in the country’s history. It raised $8m to support its expansion into the UK market, according to a report from UKTN. The investment was led by PROfounders Capital, with commitments also coming from FinVC, Clocktower VC, CircleRock Capital and unnamed angel investors. Founded in 2021, Scaleup Finance stylises itself as ‘CFO-as-a-service’. According to its website, Scaleup Finance claims the CFO is ‘broken.’ It said “Cumbersome meetings, patronising tone, poor reporting and outrageous expenses have long been outdated. Next generation founders need sharp financial insights, advice and intel in a quick and clear format.” Scaleup’s platform offers a financial management hub that allows teams to monitor and manage their financial operations. Clients can use Scaleup Finance for bookkeeping, payments, payroll, reporting, budgeting, specialised finance, financial modelling and fundraising. Read more

German InsurTech Baobab lands €3m investment (Global Fintech)
Berlin-based cyber insurance platform Baobab has scored €3m from UK-listed FinTech fund Augmentum. According to Finextra, this is Augmentum’s first investment in the InsurTech space and its second in Germany following an investment in Gover. Baobab helps small and medium businesses manage cyber risks by combining cyber insurance and security measures. Augmentum’s FinTech portfolio now comprises 25 private companies and includes the likes of Tide, Zopa and Anyfin. Augmentum FinTech CEO Tim Levene said, “We are pleased to lead Baobab’s new investment round. We have strong conviction that new risks are driving opportunities in insurtech and cyber represents a fast growing and underpenetrated market. Read more

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