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Weekly Funding Highlights – 6 September 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.

ThetaRay’s AI-powered global payment solution nets $57m funding

ThetaRay, a player in next-generation AI-driven secure global payments with a presence in diverse locations, has bagged $57m in funding. The firm has successfully raised a whopping $57m. This growth round was prominently led by Portage, and it also saw considerable participation from existing investors such as JVP, OurCrowd, and others. ThetaRay stands out in offering a cloud-based transaction monitoring and screening solution. Through its patented AI technology, the company can swiftly and accurately oversee financial transactions. Read more

InsurTech disruptor Akur8 scores $25m investment

Akur8, a firm specialising in next-generation insurance pricing via Transparent AI, has successfully closed a new funding round to the tune of $25m. This new injection of funds elevates the company’s total financing to over $60m. The latest funding round comes four years after Akur8 first introduced its platform to the market. New to the investor list this time is FinTLV, a global InsurTech and FinTech venture capital fund rooted in Tel Aviv. Also taking part in this funding round is Guidewire Software, Inc., joined by Akur8’s historical investor, BlackFin Capital Partners. Read more

Wise, N26 investor backs Germany’s Ivy in €18M round for its API for instant bank payments

Berlin-based Ivy, an API developer for instant bank payments, announced on Thursday, August 31, that it has raised $20M (approximately €18M) in a Series A round of funding led by Valar Ventures. Several prominent individual investors, predominantly from the fintech sector, also participated in both funding rounds, reports TechCrunch. The announcement comes after raising €7M in a seed round led by CREANDUM in July. Read more

Swiss FinTech GenTwo secures $15m Series A investment

GenTwo, a firm specialising in the securitisation of both bankable and non-bankable assets, has accumulated $15m in a Series A raise. This significant fundraising effort was spearheaded by US investor, Point72 Ventures. Following this, Pete Casella, the Senior Partner and Co-Head of FinTech investments at Point72 Ventures, is set to grace GenTwo’s board of directors with his presence. Diving into GenTwo’s origins, the company was birthed in Zurich in 2018. Central to its operations is the innovative GenTwo PRO platform, a groundbreaking financial engineering network. Read more

myZoi raises $14 million to bolster financial inclusion across UAE

myZoi has raised $14m and obtained two regulatory licenses from the Central Bank of the UAE, as it looks to bolster financial inclusion across the UAE. The capital was raised from SC Ventures and SBI Holdings, and along with the regulatory success marks a significant achievement for the Abu Dhabi-based FinTech. The firm is looking to enable, digitise and simplify access to essential financial services for over 5m low-income migrant workers in the United Arab Emirates (UAE) and beyond. Read more

Bluevine raises FDIC insurance coverage to $3m for customers

Vilnius-based SME Finance, a company reinventing financing for SMEs, announced on Monday that it has signed a US-based digital banking platform Bluevine has expanded FDIC insurance protection to USD 3 million through for Bluevine account holders. The FDIC insurance coverage is provided through Coastal Community Bank, member FDIC, and programme banks in a sweep network, automatically offering Bluevine account holders coverage of up to 12x the industry standard of USD 250,000. Read more

Belgium-based Cikisi raises €2.7M to expand its market intelligence tool

Belgium-based Cikisi announced it had raised €2.7M in a pre-Series A round of funding. The company says the funding will accelerate Cikisi’s growth and extend its market reach within the next two years. Angelwise, a Belgian ICT & SaaS early-stage investment fund, led the pre-series A round. Brussels’ regional investment company finance& and a new renowned Business Angel with a relevant SaaS track record participated in the round along with the founders, and existing Business Angels and investment funds, Investsud and Sambrinvest. Read more

OneID raises £1m for bank-verified digital identification

Digital identification service provider OneID has just secured £1m in funding from ACF Investors. The UK fintech will use the funds to further develop its bank-verified digital identity products. Founded in 2020, OneID aims to make it easier and more secure for people to prove who they are online, enabling more individuals in the UK to have a safe digital experience. Read more

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