Funding News

Weekly Funding Highlights – 27 September 2023

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.

Dawn Capital closes €663m raise for new flagship B2B software fund

Early-stage B2B investor Dawn Capital has raised a fresh $700m from its LPs in order to create not one, but two new funds. Dawn V will be the VC’s fifth B2B software fund and the largest ever raised in Europe at $620m, aimed at Series A and Series B startups with initial investments of $10m to $40m. Dawn Opportunities III is a new later-stage fund of $80m which will look to back Series C-stage and later companies with follow-on investment. Read more

Curve raises €67 million in funding round

UK-based super app Curve has announced the raise of GBP 58 million in funding round, to optimise its customer experience and expand its offerings and partnerships. The funding round represents an addition to the firm’s Series C round, bringing the total sum to over USD 133 million. The extension is set to be leveraged in the process of improving Curve’s overall client experience, as well as the expansion of its Flex capabilities. Moreover, the company will focus on bringing new partnerships and collaborations to the market. Read more

Nomad secures €58m in largest investment for LatAm financial startup this year

Brazilian neobank Nomad has secured $61m in its Series B funding round, to bring in the largest investment for a LatAm financial startup this year. The firm’s value has now risen to 1.8 billion reais ($361.49m), as a result of the round which was led by Tiger Global Management, also featured the participation of Nomad’s current investors: Stripes, Monashees, Spark Capital, Propel, Globo Ventures and Abstract. Nomad will use its new capital injection to expand its investment platform and launch new products, including credit cards. Read more

Berlin-based Moss secures €50M from HSBC Innovation Banking UK to accelerate European expansion

Berlin-based Moss, a payment and credit card platform that enables companies to optimise their finances, announced on Wednesday that it has secured €50M in debt facility from HSBC Innovation Banking UK. The German company says it will use the funds to accelerate its European expansion, enabling the company to offer an increasingly attractive spend management and next-generation corporate credit card solution to small and medium-sized businesses (SMBs). Read more

Legit Security receives €38m Series B investment Led by CRV

Cybersecurity company Legit Security has successfully closed a USD 40 mln investment round led by CRV. Legit Security is a cybersecurity company with an enterprise Application Security Posture Management (ASPM) platform enabling secure application delivery from code to cloud and protects an organisation’s software supply chain from attack. The ASPM platform continuously reduces application risk through discovery, analysis, correlation, and remediation of application vulnerabilities from code development all the way to cloud deployment. Read more

Funding Societies raises €25.5m to support SMEs in SouthEast Asia

Singapore-based digital finance platform Funding Societies has secured USD 27 million in debt funding to bridge the credit gap for SMEs in SouthEast Asia. Funding Societies, part of Modalku Group, is a unified SME digital finance platform in Southeast Asia. It has successfully raised debt of USD 27 million. The funds will be channelled via Funding Societies’ broad range of tailored financing solutions to support the underserved SME segments in the five markets it operates in. Read more

Lightspeed and leading global financial institutions invest €25.5m in Plan A to scale its business decarbonisation platform

Plan A, Europe’s leading corporate carbon accounting, decarbonisation, and ESG reporting software provider, has closed a $27M funding round led by Lightspeed Venture Partners. Visa, with whom Plan A signed an exclusive global partnership in December 2022 (see press release here), has also joined the round, along with Deutsche Bank, Opera Tech Ventures (VC arm of BNP Paribas), and a large number of unicorn founders, including those of Supercell, Aiven, Zalando, and Wolt. Read more

Mesh secures €21m in a Series A funding round

US-based financial operating system that provides digital asset transfers and account aggregation Mesh has secured USD 22 million in a Series A funding round. As outlined in the official press release, the funding round was led by Money Forward, with participation from companies such as Galaxy, Samsung Next, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, Valon Capital, Florida Funders, Altair Capital, Network VC, as well as various angel investors. Read more

Traydstream lands €20m in Series B for trade document automation

Traydstream, an automated trade document checking platform, has announced the completion of a $21m Series B funding round. The funding was spearheaded by US-based FinTech investment firm Pivot Investment Partners and e& capital. Specialising in the field of trade finance, Traydstream leverages machine learning to digitise trade documents. Their innovative software automates the trade and compliance checking processes. Renowned clients of the firm include names such as Detusche Bank, Standard Bank, and Mitsui. Read more

FinTech Timeline clinches €11.5m Series B funding

Timeline, an end-to-end financial planning platform, has proudly announced its recent accomplishments in the finance industry. The company successfully raised £10m in its Series B funding round. The round was led by Blackfin Capital Partners, a private investment firm specialising in FinTech. Other notable participants included MTech Capital, board member of Peel Hunt, Darren Carter, and former CEO of Interactive Investor, Adam Seale. Read more

Vero Technologies raises €8m in Series A funding round

Vero Technologies, a wholesale financing technology and loan servicing platform, has announced the close of its Series A funding round, led by venture capital fund BankTech Ventures. According to the press release, Vero Technologies received significant investment from Sopra Steria Ventures and other fintech investors including Arcadia Funds, Antler, AAF Management, and the Independent Community Bankers of America. Read more

Financial wellbeing startup Mintago closes €4.4m funding round

Mintago, a financial wellbeing fintech, has raised a $4.75m funding round. The round was led by BlackLion Ventures, with Love Ventures and Cur8 Capital also taking part. London-based Mintago helps businesses and their employees with financial well-being, which it says can help attract talent, retain existing employees and boost productivity as well as reduce national insurance costs. This includes managing pension contributions and locating lost pension pots, free access to financial advisers, debt counselling, savings tools and unbiased financial education programmes. Read more

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