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Weekly Funding Highlights – 17 May 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.

APG invests €250 million in European electric vehicle charging infrastructure 
APG, on behalf of Dutch pension funds ABP and PPF, invests €250 million of growth capital in Driveco, a French electric vehicle charging company. The transaction represents the largest fundraising in the electric charging point sector in France and one of the most significant in the sector, globally. As a result of APG’s investment, it secured the funding to continue developing its network of charging stations in France and Belgium, and also expand internationally to Germany, Spain, Italy, Switzerland and the Netherlands. Read more

Global payables automation platform Tipalti snares $150m
Tipalti, a payables automation platform, has scored $150m in incremental growth financing from JPMorgan Chase Bank and Hercules Capital. Tipalti’s cloud-based platform automates the entire accounts payable process, making it easy for its more than 3,000 mid-market customers to pay suppliers across over 196 countries. With the support from these new partners, Tipalti will be able to help even more companies that need to manage complex payables operations at scale. Read more

Intake-to-pay platform Zip nets $100m in Series C
Zip, an intake-to-pay platform, has secured $100m in a Series C funding round as well as launch its Zip Intake-to-Pay product. The funding round saw participation from Y Combinator, CRV and Tiger Global. The post-money valuation of the round was $1.5bn. Zip also announced its product launch of Zip Intake-to-Pay, extending its Intake-to-Procure platform for modern spend approvals to now provide Procure-to-Pay (P2P) capabilities. Read more

Smart secures USD 95 mln in series E funding
UK-based financial technology company Smart has secured USD 95 million in the latest round of funding led by Aquiline, a private investment firm. The latest round of funding brought investments from Aquiline, Chrysalis Investments, Barclays, DWS, and Fidelity International Strategic Ventures, among others. Read more

Cardless raises USD 75 million in debt deal with i80 Group 
US-based financial technology company Cardless has announced its raise of a USD 75 million three-year credit facility in a debt deal made with i80 Group. Following this deal, a warehouse facility will be built in order to give Cardless the possibility to fund customer receivables, as well as to improve its development process and its partnerships with globally recognised businesses and brands.  Read more

Peruvian fintech Leasy raises $25M in debt funding round
Peruvian car leasing platform Leasy, raised a $25M debt funding round led by Lendable. With these funds, the company aims to strengthen its operation and increase its car purchase volume. The company uses algorithms to analyze drivers data to grant or deny the credit. Leasy closed a partnership with Uber and is working to streamline credit requests by taking the drivers data directly from online platforms.  Read more

ThreatFabric Raises EUR 11.5M in Seed Funding
Amsterdam-based cyber fraud start-up ThearFabric closes €11.5 million Seed Round for its Online Fraud Detection Solution – Fraud Risk Suite. This consists of the fraudster’s footprint with advanced AI models that include continuous threat modelling of attack paths inside online signup and payment journeys. The funding round was co-led by ABN AMRO Ventures, Motive Ventures and, with participation from 10xFounders and 14Peaks capital. Read more

Embeddable payroll startup Salsa secures $10m in funding
Salsa, a rising FinTech star aiming to revolutionise payroll systems, has successfully raised $10m in a recent funding round. The startup offers software platforms the ability to seamlessly embed payroll features into their own products, creating an integrated and streamlined experience for customers. This funding was led by Greycroft, Better Tomorrow Ventures, and Definition, with participation from a wide array of investors. These include Cambrian’s Rex Salisbury, Forum Ventures, and notable founders from various industries such as Oz Alon (CEO, HoneyBook), Avlok Kohli (CEO, AngelList), and Jess Mah (co-founder, inDinero) among others. Read more

Charlie: A new era in retirement banking with a $7.5m kickstart
Charlie, a ground-breaking startup that delivers banking services specifically for the 62+ demographic, has just launched, redefining retirement banking. The firm’s innovative approach aims to address the financial challenges that retirees and those nearing retirement face, ensuring they get the most out of their limited resources. In its initial funding round, Charlie secured $7.5m in investment, according to a report from TechCrunch. The round was led by Better Tomorrow Ventures, with participation from Expa, Carbon Health Chief Product Officer Ayokunle Omojola, and Gokul Rajaram. Read more

Optery secures $2.7m seed funding to revolutionize personal data protection
Optery, a company focused on personal data removal services, has announced it has raised an additional $2.7m in seed funding. The innovative firm is the first to offer a free service for finding your personal data on hundreds of data broker websites. The funding round was led by Bayhouse Capital and included participation from Global Founders Capital, Goodwater Capital, Pioneer Fund, Soma Capital, TRAC, Y Combinator, and others. This brings Optery’s total funding to $6m to date. Read more

Value.Space raises £1.8m for satellite-based insurtech process 
Value.Space, an insurtech startup using satellite-gathered data to detect faults in infrastructure, has closed a £1.8m seed round. Based in London and Tallinn, the company has claimed its technology can detect the smallest anomalies in major infrastructure projects. This data can then aid loss prevention and insurance processes. Read more

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