Dreamcraft Ventures launches €66M fund for SaaS and FinTech

WEEKLY FUNDRAISING ACTIVITY

• Last week we saw 10 official FinTech deals in Europe for a total amount of €243m raised with 4 deals in the UK, 2 deals in Sweden, 1 deal in France, 1 deal in Switzerland, 1 deal in Denmark, and 1 deal in Spain.

?? NEWS HIGHLIGHT

• Torpago Announces $10 Million Series B Funding Round.

Torpago, a commercial credit card and spend management provider, today announced it raised $10 million in a Series B funding round.

The round was co-led by Priority Tech Ventures, a division of Priority Technology Holdings, Inc., and EJF Ventures, with participation from BankTech Ventures and other existing investors.

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NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

?? NOTABLE FUNDING ROUNDS

?? Minority-Led PE Firm Targets $350M FinTech Fund.

?? CSG acquires Florida-based paytech iCG Pay in $17m deal.

?? FinTech platform Bcas raises €17m for flexible financing solutions.

?? Sibill secures €6.2M to automate financial operations for Italian SMBs.

?? REGIONAL HIGHLIGHTS

UK ????

Spotify, Klarna-backer Creandum closes €500M fund to back up to 40 early-stage startups. With its Fund VII, the VC aims to make 35 to 40 seed and Series A investments over the next two to three years.

Barclays leads ￡4 million total seed round in WealthOS. Barclays led an initial ￡2 million in the firm in November with participation from FinTech angels such as Chris Adelsbach, Mike O’Brien, John Donohoe and John Herlihy.

EUROPE ????

Dreamcraft Ventures launches €66M fund for SaaS and FinTech. Limited partners of Dreamcraft’s new fund consist of institutional investors from the Nordics such as Chr. Augustinus Fabrikker, as well as Family Offices and well-connected entrepreneurs.

iPiD secures $5.3m in Pre-Series A round to strengthen global payments. These new funds will be utilized to accelerate the commercial rollout of iPiD’s Verification of Payee solutions in Europe.

Slip, a female-founded fintech startup which helps physical stores digitise receipts to unlock customer insights, has raised ￡2.5 million. The company intends to use the funds to enhance the technology package and grow its team.

re:cap raises Series A funding round of USD 14.6m and releases own SaaS platform to investors and businesses. The funding round was led by Entrée Capital and included participation from further existing shareholders Felix Capital and Project A, following 24 months of rapid growth for re:cap.

USA ????

Light Frame, a Providence, RI-based private banking and wealth management technology company, raised $1.7M in Pre-Seed funding. The round was led by ATX Venture Partners and New Stack Ventures with participation from Rogue Venture Partners, Half Court Ventures, Underdog.

Swedish climate FinTech Doconomy bags €34m in Series B funding. Doconomy states the newly obtained funds will be utilised to fuel the company’s expansion in North America, drive “broader engagement and adoption of its tools”, and support the further development of its product suite.

Forward, a technology partner empowering SaaS companies to integrate and monetize payments, has announced $16M in seed financing. The round was led by Commerce Ventures, Elefund, and Fiserv.

Novel closes $15m round. The round also includes participation from MatterScale, Gaingels, as well as previous investors. This injection of capital catapults Novel’s total funding to over $130M, fueling its mission to transform how tech founders fund and grow their business.

BankTech Ventures, a strategic investment fund redefining the landscape of community banking through innovative investments, announced its recent investments in three bank-enabling technology companies: Equabli, Filejet, and Monit.

Breezepay secures US funding grant to expand stablecoin payments platform. Ryan Bogatez, the Founder and Chief Executive of Breezepay, said the funds will be used to expand the company’s stablecoin payments gateway platform.

Nium retains Unicorn status raising US$50 Million in Series E Round at a $1.4 billion valuation. That is 30% below the valuation from its last funding round in 2022.

Kleiner Perkins leads $14.4M seed round into Fizz, a credit-building debit card aimed at Gen Z college students. They wanted to make using the card a way to establish credit and become more educated about finances generally and ultimately be financially independent.

ASIA

Spend management startup SiFi raises $10M to grow further in Saudi Arabia. The global spend management sector is experiencing a tailwind of sorts. North America is arguably the biggest market in this space, but spend management companies have seen demand rise across the world.

Philippine FinTech startup Beppo has secured funding to acquire JuanTax, a tax platform, and five bookkeeping firms. This aims to address the growing demand for bookkeeping services amidst a shortage of accountants.

Turkish FinTech Sipay secures $15M. The round was led by Anfa, a global investment firm known for its long-term partnerships with exceptional entrepreneurs. Sipay, which was founded in 2019, was recently identified by Deloitte as the fastest-growing FinTech in Turkey due to its 10x year-on-year growth.?

FinTech Fibe raises $90 mn. The company plans to deploy the new fund for business expansion, market outreach and curating tailor-made products across its loans portfolio.