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.
US fintech Clear Street bags additional $270m in Series B funding
New York-based fintech Clear Street has secured $270 million from Prysm Capital in a continuation of its Series B funding round. The new cash injection takes the firm’s total Series B to $435 million following an initial $165 million raise in May last year. The latest investment now values the firm at $2 billion. Founded in 2018, Clear Street offers a cloud-based prime brokerage platform which enables institutional investors to trade US equities and stock options. The company aims to replace legacy infrastructure across capital markets and improve “speed, access, and service” for its clients. Its first product, an equity finance platform, processes over $10 billion worth of transactions every day. Read more
Kite raises USD 200 mln in equity
Next-generation commerce company Kite has raised USD 200 million in equity from funds managed by Blackstone and Juxtapose to develop its tech-driven platform for scaling brands. As per the information detailed in the press release, the investment from the two enterprises is to be leveraged towards the development of a modern commerce platform that will invest in, acquire, and operate high-potential brands. Read more
PhonePe raises an additional USD 100 mln
India-based fintech PhonePe has secured USD 100 million of additional funding in the journey to complete an ongoing USD 1 billion financing round. The new funds from returning backer General Ataltantic bring the total raised since a few months prior to this announcement to USD 750 million. PhonePe picked up a USD 450 million investment in February 2023 (including USD 350 million from Genral Atlantic), followed in March 2023 by a USD 200 million injection from majority backer Walmart. Read more
Digital identity network ID.me raises $132m and names new CFO
Secure digital identity network ID.me has raised $132m in its Series D funding round and appointed Samantha Greenberg as its new chief financial officer. The Series D capital injection was led by Viking Global Investors, an American-based hedge fund. Other commitments came from CapitalG, Morgan Stanley Counterpoint, FTV Capital, PSP Growth, Auctus Investment Group, Moonshots Capital, and Scout Ventures. Read more
Investment platform Altruist raises $112m in Series D funding
Altruist, an investment platform for financial advisors, has raised $112 million in a Series D funding round led by Insight Partners and Adams Street. The company combines a self-clearing brokerage with software for account opening, trading, reporting and billing for registered investment advisors (RIA). The new funding follows a previously undisclosed $110 million Series C raised in November 2021 led by Declaration Partners, with Venrock, Insight Partners and Vanguard also participating. Altruist has now raised $290 million in total. Read more
Pricing platform Pricemoov lands $10m in Series A
Pricemoov, a cloud firm that powers intelligent pricing decisions, has raised $10m in a Series A funding round headed by ISAI and Bpifrance Digital Venture. The challenges surrounding pricing are constantly increasing as businesses navigate inflation, supply chain disruptions, and cost volatility. This is further complicated by the omnichannel imperative, competitive pressures, and rapidly changing customer expectations. Pricemoov claims it absorbs all this complexity in order to help companies make better pricing decisions and remain profitable. Read more
Xclaim raises $7m for crypto trading platform for assets locked by bankruptcy
Xclaim, which claims to be the only independent trading platform for crypto assets locked by bankruptcy, has reportedly raised $7m in its Series A. The investment was led by venture capitalist Josh Jones, according to a report from FinSMEs. With this burst of equity, the company hopes to accelerate the adoption of bankruptcy claims electronically, which it will achieve through new financial products that boost market liquidity and accessibility. Read more
Netsells deal as hedgehog lab raises £6.3m
Global growth funding for Newcastle-headquartered technology consultancy, which has bases in US and Bulgaria, comes from BGF. Technology consultancy hedgehog lab has secured £6.3 million investment from BGF to grow globally. As part of the deal, the business has announced the acquisition of York-based digital product consultancy Netsells. Headquartered in Newcastle with operations in the US and Bulgaria, hedgehog lab works with a wide range of global brands, including AJ Bell, Aviva, Deliveroo and Tesco Bank. Read more
Crypto crime fighting startup CAT Labs bags $4.3m
CAT Labs, a startup building forensic and cybersecurity tools to fight crypto-enabled crime, has bagged $4.3m in its pre-seed round. The round was headed by Castle Island Ventures, Brevan Howard Digital, RW3 Ventures and CMT Digital. Other participating investors include Newark Venture Partners, Hash3, Borderless Capital, Cryptoverse Ventures, and Outshine Ventures. Founded by Lili Infante – a former DOJ special agent – CAT Labs is building digital asset recovery and cybersecurity tools to enable governments to fight crypto crime. Read more
LegalTech Kuberno backed by Nasdaq Ventures
Surrey firm signs commercial partnership which includes product integration into Nasdaq’s suite of governance solutions. LegalTech firm Kuberno has raised £3.5 million from Nasdaq Ventures. In connection with the Series A financing, Kuberno will launch a commercial partnership with Nasdaq Governance Solutions that includes a planned product integration into Nasdaq’s suite of governance solutions. Read more
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