New week – new closed funding rounds, especially successful for Dutch fintech startups, with more than $62m raised! So 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.
DMI Finance secures USD 400 mln equity investment
India-based financial services company DMI Finance has announced the closer of a USD 400 million equity investment round led by Mitsubishi UFJ Financial Group. DMI Finance is a pure-play digital lender with products including consumption, personal, and MSME loans. It leverages technology to optimise every step in the lending stack, from sales and underwriting through to customer service and collections. The company sources and services customers through multiple digital channels – in particular it is an embedded digital finance partner of choice for businesses including Samsung, Google Pay, and Airtel which work with DMI Finance to provide diverse financial products to their customers across India. Read more
Quantexa raises USD 129 million in Series E funding
UK-based Quantexa has raised USD 129 million in a Series E funding round that increased the company’s valuation to USD 1.8 billion. Quantexa specialises in tackling financial fraud and other forms of online crime by providing AI-based tools and other solutions to major banks, financial service providers, and governments. This newest funding round follows a Series D from July 2021 that yielded USD 153 million at a valuation of USD 800 to USD 900 million. At the time, the company revealed its plans to create AI-based big data tools to track risk and run investigations. The Series E round was led by Singapore-based wealth fund GIC with participation from previous investors such as Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC. Read more
Ledger raises USD 108 million in Series C funding
France-based cryptocurrency startup Ledger has raised USD 108 million in a Series C funding round led by Molten Ventures. This round was an extension of an original Series C from 2021, and it allowed the company to retain its valuation of EUR 1.3 billion. The funds will be used to improve the user experience of Ledger’s products with a better onboarding system, and the company also wants to create and provide more services, including buying, swapping, earning yield on crypto, and working with NFTs. The Series C funding was led by Molten Ventures, which was joined by fellow existing investors such as 10T, Cité Gestion Private Bank, Morgan Creek, Cap Horn, Cathay Innovation, and Korelya Capital. The round also saw the participation of new investors such as True Global Ventures, Digital Finance Group, and VaynerFund. Read more
Payments infrastructure firm TerraPay nets over $100m in equity and debt
TerraPay, a global payments infrastructure business, has scored over $100m in its Series B equity financing round. The funding round was headed by IFC and supported by Prime Ventures, Partech Africa, U.S. International Development Finance Corporation and a consortium of other investors. TerraPay is committed to driving financial inclusion and specializes in enabling the delivery of cross-border remittances and instant money transfers, securely, and at a low cost. With the new funding, the company is well-positioned to capitalize on the growing demand for its remittance and payments solutions and continue its mission of making cross-border payments more accessible, secure, and affordable for all. Read more
Fourthline secures USD 54 million in funding round
Netherlands-based AI startup Fourthline has secured USD 54 million in funding round in order to offer customers improved ID check services in the finance industry. Following this announcement, the company will use its set of AI-based services to improve the identification and verification procedure of clients, while helping businesses comply with anti-money laundering rules. Furthermore, the funds will be leveraged into the development of its technology. The valuation of the company is not disclosed at the moment. Currently, Fourthline has multiple users, including N26, Qonto, Trade Republic, FlatexDEGIRO, Scalable Capital, Western Union, and multiple marketplaces like Wish. Read more
PayPal Ventures backs German FinTech Finanzguru
Finanzguru, a Frankfurt-based open banking financial advisor, has scored €13m in a funding round headed by SCOR Ventures and PayPal Ventures. Also participating in the round was Deutsche Bank, VR Ventures, Venture Stars, Hannover Digital Investments, coparion and former Postbank CEO Frank Strauss. Launched in 2018 as a multi-banking app, in recent years Finanzguru has expanded into an independent platform that allows its customers to manage all of their banking accounts and contracts. Read more
SpendFlo bags $11m for its SaaS platform
SpendFlo, an all-in-one platform to buy, manage and secures SaaS, has raised $11m in Series A funding. The round, which takes the total raised by the company to $15.4m, was led by Prosus Ventures and Accel. Founded in 2021 by Siddharth Sridharan, Ajay Vardhan, and Rajiv Ramanan, SpendFlo aims to simplify buying, managing and renewing SaaS solutions for companies. Read more
Cloud access management enterprise Trustle secures $6m seed
Trustle, a provider of cloud access management solutions, has raised $6m from a seed funding round headed by Glasswing Ventures. Also participating in the round was FUSE, Capital Technology Ventures, Correlation Ventures. Founded in 2019, Trustle claims its mission is to revolutionise the management of access-at-risk. Read more
Deribit Parent Company Leads $4.4M Seed Funding Round Into Dutch Crypto Exchange Finst
The oversubscribed capital raise will be used to expand Finst’s range of products drive its international expansion plans. Crypto derivatives platform Deribit’s parent company Sentillia has led a 4 million euro (US$4.4 million) seed funding round into Netherlands-based cryptocurrency exchange Finst. The oversubscribed funding round will be used to expand Finst’s range of products drive its international expansion plans. Read more
Amsterdam’s Dealsuite secures €3.5M to grow its M&A platform for dealmakers
Amsterdam-based Dealsuite, an M&A platform for dealmakers, announced on Monday, April 3, that it has raised nearly €3.5M in growth funding from publicly listed investment firm Value8. With this investment, Value8 has acquired a 31 per cent stake in Dealsuite BV. Value8 assists small-cap businesses in reaching their goals for development. The firm enables these businesses to list on the stock market while also providing venture money to finance their development. Read more
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