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Weekly Funding Highlights – 22 November 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.

Cyber risk management leader Vulcan Cyber raises $55m (€50.4m) in latest investment

Vulcan Cyber, a cyber risk management leader, recently secured $55m (€50.4m) in its Series B funding round, led by Maor Investments and Ten Eleven Ventures. With contributions from existing investors, the total funding now stands at $70m, supporting Vulcan Cyber’s innovative approach to cyber risk management and its plans for market expansion and product innovation. Read more

French digital accounting start-up Indy lands €40m Series C funding

French fintech start-up Indy, specializing in automating accounting for sole traders and freelancers, has successfully raised €40 million in a Series C funding round led by European private equity firm BlackFin Capital Partners. The new capital brings Indy’s total funding to €86 million, and the company plans to use it to expand its services, offering an all-in-one application that includes VAT returns and automated corporate tax administration. Indy also aims to launch a professional account option for micro-businesses at the beginning of the next year, accompanied by plans to hire 200 new employees across various departments. Read more

Data security firm ALTR bags $25m (€22.9m) in latest funding raise

Florida-based data security firm ALTR has successfully raised $25 million (€22.9m) in its latest funding round, led by John Stafford III. ALTR specializes in blockchain-based security tools and, since emerging from stealth mode in 2018, has accumulated over $55 million in funding. The funding will be used to accelerate ALTR’s go-to-market strategy, expand its reach across various data sources, strengthen partner integrations, and enhance channel relations. ALTR’s innovative technology suite streamlines operations for database administrators and data engineers, offering features such as automated data access controls and enhanced visibility into data usage. The funding is expected to solidify ALTR’s position in the data security landscape. Read more

TRIVER secures £20m (€20m) from Avellinia Capital to revolutionise UK SME financing

Apiture, a leading digital banking solutions provider, successfully concludes a $10 million fundraising round led by SME working capital provider TRIVER has secured a substantial £20 (€20m) million in a funding round led by Luxembourg-based Avellinia Capital. The funding, provided as a £20 million debt facility, positions TRIVER to offer over £200 million in funding annually. TRIVER distinguishes itself by utilizing open banking data and AI to address the short-term working capital needs of small businesses. The company’s efficient approach involves instant and automatic risk underwriting for small business borrowing, enabling it to provide advances on client invoices around the clock, offering a faster and more accessible alternative compared to traditional banks. Read more

Lynx clinches €17m in Series A led by Forgepoint

Lynx, a company specializing in detecting and preventing fraud and financial crimes, has successfully concluded its Series A funding round with €17 million. This funding round was led by Forgepoint Capital, a venture capital firm specializing in cybersecurity and digital infrastructure software. The strategic investment aims to support Lynx’s mission of combatting digital fraud and money laundering by leveraging advanced AI and machine learning technologies. The funds will be utilized for global expansion and further development of Lynx’s integrated fraud and anti-money laundering (AML) platform. Read more

Amsterdam fintech Silverflow raises €15M to fuel its “aggressive” global expansion plans

Amsterdam-based fintech startup Silverflow has secured €15 million in a recent funding round led by Global Paytech Ventures, with participation from Picus Capital, Coatue, Crane Venture Partners, Inkef, and various angel investors. The funding will be used to accelerate Silverflow’s global expansion plans, building on its entry into the US and APAC markets earlier in the year. The company’s payment processing platform aims to modernize backend payment processing by offering a single platform for acquirers, PSPs, PayFacs, and large merchants. The funds raised resulted in a valuation substantially higher than the company’s Series A valuation in 2021. Read more

FinTech Kiwi garners $13m (€11.9m) in latest investment

Mumbai-based fintech innovator Kiwi has successfully secured $13 million in its latest investment round, marking its second major funding event in 2023. The Series A funding round was led by Omidyar Network India, with contributions from earlier investors Nexus Venture Partners and Stellaris Venture Partners. Kiwi plans to utilize the fresh capital to introduce new products, including no-cost equated monthly instalments (EMI) on UPI and a credit line on UPI sanctioned by the National Payments Corporation of India (NPCI). Read more

Spanish fintech ID Finance secures €12M credit line from a European Listed Bank

Barcelona-based fintech ID Finance secures a groundbreaking €12M credit line from an undisclosed European listed bank, marking a pioneering agreement for the company. The funds will be strategically utilized to expand ID Finance’s credit portfolio in the Spanish market, capitalizing on its existing user base of over 2 million registered users and facilitating the issuance of more than 12,000 credit lines through its innovative Plazo app. Read more

VersiFi secures $10m (€9.1m) in Series A to boost digital asset trading and lending

VersiFi, a rising player in the digital assets sector, secures a substantial $10m (€9.1m) in a Series A funding round led by Hunting Hill Global Capital. The funds will fuel the launch of VersiFi’s digital assets trading and lending business, aiming to create a state-of-the-art platform that combines low-latency technology with high-end trading and lending services. Martin Garcia, a notable figure in digital asset trading, joins as co-CEO alongside VersiFi founder Sameer Shalaby to drive the company’s strategic goals and strengthen the digital assets ecosystem. Read more

Dutch revenue-based financing marketplace Levenue raises €8m; acquires Belgian startup Cake

Levenue, a revenue-based financing marketplace based in Breda, the Netherlands, has successfully raised €8 million in a Series A funding round, with Truffle Capital and Freshmen Fund leading the investment. This funding marks the flagship investment for Truffle Capital’s “Fintech Scale-Ups Fund,” which aims to invest in up to 15 high-growth Fintech scale-ups across Europe in the coming years. Read more

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