New week – new closed funding rounds. This week’s funding highlights cover start-ups, fintechs, cybersecurity tech, RegTechs, and many more! Take a look at some major investments of this week.
Alternative lender ThinCats lands £700m from British Business Bank initiative
The ENABLE Guarantee programme’s primary goal is to boost lending to smaller enterprises in the UK. This current facility granted to ThinCats permits lending of nearly £696m to mid-sized, smaller British businesses. While Citi and Barclays are co-funding the senior portion, ThinCats contributes its own capital for the junior funding segment. Delving deeper into what ThinCats offers, the company serves mid-sized enterprises, meeting their needs for both organic growth financing and merger & acquisition activities. This demand remains robust even amidst fluctuating macroeconomic conditions. Additionally, ThinCats has noted substantial follow-on financing for its existing client base. Read more
Flex raises $120 million in Series A funding round
US-based Flex has announced the raise of USD 120 million in equity and debt funding round, for launching its finance super app for business owners. The funding announcement follows the company’s launch of its Flex Credit Card, Flex Banking, and finance super application. The product was developed in order to provide business owners, founders, and CFOs with the possibility to streamline the finance back office of companies, as well as to accelerate their development procedure. Read more
Hong Kong Insurtech Bowtie lands $34.9m in latest funding round
Hong Kong-based virtual insurer Bowtie has revealed that it has landed $34.9m, following the conclusion of a Series B2 funding round. The round was led by Sun Life Hong Kong Limited, one of Bowtie’s primary investors. Additionally, the round saw participation from Mitsui & Co., Ltd., further solidifying the company’s financial standing. The company is aiming to use the funds to expand its operations and technological capabilities, with a specific focus on addressing Hong Kong’s substantial $886bn protection gap. Read more
HyperJar, the digital wallet pioneer, secures $24m in Series A funding round
HyperJar, a leading digital wallet company, has proudly unveiled the successful finalisation of a $24m Series A funding round. The investment round witnessed leadership from Susquehanna Private Equity Investments, LLLP, and received notable participation from the Healthcare of Ontario Pension Plan (HOOPP). Having positioned ‘spending money’ as a significant, yet untapped global market potential, HyperJar stands out in its approach to financial technology. The firm’s award-winning consumer digital wallet enjoys a robust user base, boasting over 500,000 customers across the UK. Read more
Payflow obtains €20 million from BBVA Spark
Spain-based fintech Payflow has obtained EUR 20 million after signing an agreement with BBVA Spark in a bid to expand its financial super app. Previously, Payflow had raised over EUR 12 million from investors, including Y Combinator, Telefónica, and Plug&Play, bringing their total funding and debt to over EUR 32 million. With the fresh capital infusion, Payflow aims to expand its business, and according to echfundingnews.com, the company employs over 70 people and maintains offices in Madrid, Barcelona, Lisbon, Bogotá, and Lima at the time of writing. Read more
Emerging market FinTech DKK Partners raises £3m in pre-seed raise
DKK Partners, a Frontier Markets FinTech firm, has celebrated the successful culmination of their pre-seed funding round. The funding round witnessed the company garnering a total of £3 million. This feat comes as a prelude to their anticipated Series B, slated to commence at the start of 2024. This Frontier Markets FinTech enterprise, with a focus on emerging markets (EM) and foreign exchange (FX) liquidity, is on a mission. Read more
Enigio lands €3m from Lloyds Banking Group
Lloyds Banking Group has poured €3 million into technology firm Enigio, underscoring its commitment to advancing the digital documentation landscape within the trade sector. This €3m investment is a part of a broader raise which garnered approximately €6m. Spearheaded by Lloyds Banking Group, established backers such as Stockhorn Capital and MOOR Holding also marked their support. Read more
AI-Powered SaaS Data Platform Pliable Launches After $2.5million Seed Round Success
AI-powered SaaS data platform Pliable has officially launched out of stealth following a $2.5million seed round led by Resolute Ventures. Pliable’s SaaS platform looks to simplify organising and leveraging data without an engineer. After the funding round, which featured participation from CEAS and other investors, Pliable plans to expand its team and platform to create a single source of truth for anyone to streamline their data processes. Read more
Wamo raises $1.5m seed extension round ahead of EMI license application
Wamo, a UK-headquartered fintech, has raised a $1.5m seed extension round, AltFi can exclusively reveal. Wamo is a digital business account provider and says it has processed close to €1.3bn in transactions to date, opening business accounts for 7,500 new customers in Europe and the UK. The round is led by Finberg, the corporate venture investment arm of Turkish bank Fibabank, with existing investor RePie Asset Management also taking part. Founded in 2018 by Yanki Onen, the new cash brings Wamo’s total funding to $6.8m. Read more
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