#DoneDeal FinTech Funding News | 2024 #12
Connecting the dots in FinTech...
Connecting the dots in FinTech...
WEEKLY FUNDRAISING ACTIVITY
?? NEWS HIGHLIGHT
With the new funding, the company aims to expand globally and explore growth opportunities, according to a press release.
It will also continue to invest in its tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce.
?? M&As
GoCardless signs agreement to acquire Nuapay. The acquisition will significantly scale GoCardless’ indirect channel proposition, consolidating its position as a key payment provider to existing .
MNT and Egyptian Startup Halan Acquire Advans Pakistan Microfinance Bank . A collaboration between Dutch microlending company MNT and Egyptian fintech startup Halan, has secured approval from the Competition Commission of Pakistan (CCP) to acquire Advans Pakistan Microfinance Bank Limited.
NCino to acquire DocFox. DocFox’s technology helps simplify and automate the onboarding and account opening process for commercial and business banking , enabling remarkable client experiences.
Shift4 Payments' CEO Jared Isaacman is said to be distinctly unimpressed by the valuations placed on the firm from potential acquirers. According to an internal memo seen by Bloomberg, he said that the firm had received multiple offers from potential suitors .
Canadian payments processor Nuvei, backed by celebrity entrepreneur Ryan Reynolds, is nearing a buyout deal. Private-equity firm Advent International is in advanced talks with Nuvei for a transaction that could be announced soon, according to people familiar with the matter .
Fractible, after only two years of operation, has been acquired by the Irish group Konvi, a leading platform in the fractional investment of luxury assets, boasting over 40,000 users and an international presence .
Virgin Money and Nationwide boards approve takeover terms. Bosses at Nationwide have been looking over the Virgin's books since the 220p per share offer was first suggested earlier this month, and now the pair have firmed up a preliminary agreement .
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? NOTABLE FUNDING ROUNDS
?? AccessPay secures $24m in funding .
?? Tandem Unveils Goals Feature Set, Announces $3.7M in Seed Funding Led by Corazon Capital.
领英推荐
?? Digital bank Monzo in talks to sell stake to Singaporean state fund GIC .
?? REGIONAL HIGHLIGHTS
EUROPE ????
Emerging from stealth, SAPI secures ￡7.5M equity fundraising for small business lending. SAPI which stands for ‘Securities API’ enables payment companies to offer business loans and other financing products to their clients .
Solaris SE raises EUR 96 million in funding. Solaris will use the funds to onboard the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program, strengthen its core capital and invest in the resilience of its platform .
Bezahl.de receives capital from Paypal. The Cologne-based company behind the Payment platform Bezahl.de, has raised €22 million in funding from investors including PayPal Ventures .
USA ????
VCs double down on FinTech Coast, which aims to be the Brex for ‘real-world’ industries. BoxGroup and Avid Ventures co-led the equity raise, while other existing investors such as Accel, Insight Partners and Better Tomorrow Ventures participated.
Figure raises $60M in bid to build a ‘differentiated’ crypto exchange. Blockchain-focused Figure Technologies has secured $60 million in a bid to build a decentralized competitor to the largest centralized crypto exchanges .
Citi Ventures Backs Capstack Technologies, The First Integrated Bank-to-bank Loan Marketplace. Miami-based Capstack Technologies has secured a $6 million strategic investment from Citi Ventures, marking a significant milestone in its mission to revolutionize banking technology .
Ascent secures venture funding to modernize underwriting infrastructure and deliver financial portability. The platform positions banks and credit unions to act as trusted partners in helping consumers and small businesses navigate the financial marketplace .
LATAM
Addi, a Colombian FinTech company specializing in Buy Now, Pay Later payments, has successfully raised $86 million. This new capital injection is aimed at financing another round of expansion .
ASIA
Philippine neobank Zed introduces pioneering “no-fee” credit card, securing $6m in funding. The introduction of this credit card has sparked considerable interest, with Zed announcing over twenty thousand sign-ups within just two weeks of launching an early access programme .
AFRICA
Blockchain payment network Zone raises $8.5 million. The Nigerian company is Africa's first regulated blockchain network for payments and has already signed up over 15 of Africa's largest banks and FinTech companies.
Morocco’s ORA Technologies Closes USD 1.5 M Seed Round. The new cash influx will help propel ORA’s plans to activate its e-wallet, which allows users to transfer money instantly, made possible by a partnership with M2T, a subsidiary of Banque Centrale Populaire .
Brass secures new funding as customers confirm an end to withdrawal delays. Brass, the Nigerian business banking startup that has been receiving criticism from customers for failing to process withdrawals on time, has received a capital injection from a group of investors .
Uber leads $100M investment in African mobility FinTech Moove as valuation hits $750M. Moove says it plans to use the new capital to expand its revenue-based vehicle financing platform to 16 markets by the end of 2025 .
Float secures $11 million in funding. The startup’s proprietary technology lets shoppers buy now and split their payments over up to 24 interest-free , fee-free monthly instalments using the available limit on their existing Visa or Mastercard credit card.