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Weekly Funding Highlights – 30 august 2023

New week – new closed funding rounds. This week’s funding highlights cover start-ups, biotechs, climate-conscious tech, RegTechs, and many more! Take a look at some major investments of this week.

AirTrunk secures $4.6bn sustainability linked loan

AirTrunk has revealed that it has managed to increase its corporate sustainability linked loan (SLL) to $4.6bn . The specialists in hyper-scale data centres across the Asia-Pacific & Japan (APJ) region, aim to utilise the funds to refinance the existing debt facilities of AirTrunk and provide financial support for the company’s rapid expansion across the region. The announcement marks a significant accomplishment for the firm, which more than doubled the initial $2.1bn SLL secured in September 2021. Read more

S.Korea’s LG Energy Solution aims to raise about $1bn in green bonds

South Korea’s LG Energy Solution is aiming to to raise about $1 billion from the sale of two, dollar-denominated green bonds. The company has mandated investment banks to work on a potential dollar-denominated green bond deal, according to a term sheet seen by Reuters. The sheet allegedly explained that investor meetings on the deal will begin on Wednesday, 30 August, and that the bonds could be issued in three and five-year tenors. Read more

Fintech startup Ramp raises $300M at a 28% lower valuation of $5.8B

Fintech startup Ramp has raised $300 million in a funding round co-led by existing backer Thrive Capital and new investor Sands Capital at a post-money valuation of $5.8 billion. The Information reported last week that spend management company Ramp was raising “several hundred million dollars” at a $5.5 billion valuation. Ramp last raised in March 2022 — raising $200 million in equity funding at an $8.1 billion valuation. In total, the company has secured $970 million in equity financing and $700 million in committed debt funding since its 2019 inception. Read more

India’s debt resolution fintech Credgenics gets $50m boost

Indian fintech Credgenics, which offers a SaaS-based debt collection and resolution platform, has received an additional US$50m in investment. Credgenics, an Indian fintech that provides a SaaS-based platform for debt collections and resolution, has raised US$50m in a Series B funding round. The latest intake of capital – led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors – gives Credgenics a valuation of around US$340m, more than three times the equivalent valuation achieved at its latest funding achievement. Read more

SME Finance bag €40M from EIF to support SMEs in the Netherlands, among others

Vilnius-based SME Finance, a company reinventing financing for SMEs, announced on Monday that it has signed a strategic partnership with the European Investment Fund (EIF). This collaboration, operating under the EU’s “InvestEU” programme, aims to provide enhanced lending opportunities to small and medium-sized enterprises (SMEs) in the Netherlands, the Baltic states, and Finland. Around €40M in financing will be made available for SMEs in these countries. Read more

LemFi bags $33m in Series A funding round to fuel global expansion

Fintech start-up LemFi, previously known as Lemon Finance, has secured $33 million in a Series A funding round led by Left Lane Capital. The round also saw participation from Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree. According to Crunchbase, the latest round brings LemFi’s total funding to $46.8 million to date. LemFi was founded in 2020 by Ridwan Olalere and Rian Cochran to provide immigrants with better access to financial services. Read more

Finnish e-commerce startup Starcart secures €3.5M to expand across Europe

Finnish e-commerce startup Starcart announced it has raised €3.5M in a seed round of funding led by Nordic early-stage investor Inventure. The round also saw participation from Business Finland, who provided a €400K R&D loan, and other Finnish angel investors. With the funding, Starcart says it will scale its AI-powered shopping platform and expand into new markets across Europe in 2024. The company plans to add hundreds of new stores to the platform. Read more

Rotterdam-based Valyuu bags €2.4M from Rubio Impact Ventures, others to reduce electronic waste

Rotterdam-based Valyuu, a circular platform for pre-owned electronics, announced on Tuesday that it has secured €2.4M in a fresh funding round led by Rubio Impact Ventures and Slingshot Ventures. Other participating investors include US-based Techstars, Golden Egg Check Capital, and several angel investors. The Dutch company says it will use the funds to further develop the platform, increase brand awareness in the Benelux and accelerate international expansion. Read more

Helsinki-based Videobot bags €2M to improve online customer experiences with interactive video chatbots

Helsinki-based SaaS startup Videobot announced on Tuesday that it has secured €2M in a seed round of funding from Superhero Capital, Expon Capital Digital Tech Fund, and angel investors Urban Gillstrom and Ari Korhonen. The Finnish company says it will use the funds to accelerate its growth, especially in Europe and the US markets. Currently, the company claims to have gained a solid foothold with over 200 customers in 15 countries and multiple diverse industries. Read more

Delft-based Zepp.solutions bag €2M JTF grant to build fuel cell systems factory

Delft-based Zepp.solutions, a company that specialises in hydrogen fuel cell technology, announced that it has secured a €1.98M grant from the European Just Transition Fund (JTF) to develop a “cutting-edge” fuel cell systems factory. JTF aims to assist regions heavily dependent on fossil fuels in transitioning to a climate-neutral Europe fairly and equitably. It addresses social, economic, and environmental impacts to ensure a balanced and sustainable energy transition. Read more

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