Addition

– Spenmo, a Singapore-based provider of payments software for growing businesses, raised a US$34M Series A funding.
– The round was led by New York-based private equity and venture capital firm Insight Partners with participation from Lee Fixel’s Addition, Salesforce Ventures, Alpha JWC, Global Founders’ Capital, Broadhaven, Operator Partners and Commerce Ventures, and angel investors such as William Hockey (Founder of Plaid), Reuben Lai (Senior MD, Grab Financial Group) and Ongki Kurniawan (Head of Stripe Indonesia, Ex-Head of Grab Indonesia).
– After its launch in Singapore last year, Spenmo has since expanded across Southeast Asia and has thousands of customers from various sectors, including high-growth startups, SMBs, mid-market companies, and accounting firms.

– Branch, which helps businesses accelerate payments to empower working Americans, announced it has raised over $540m to fuel its momentum in delivering flexible workforce payments.
– Addition led the closing of a $48m Series B funding round with participation from Drive Capital, Crosscut Ventures, Bonfire Ventures, Matchstick Ventures, and HR Tech Investments, a subsidiary of Recruit Holdings Co., Ltd., among other investors.
– The company has also secured $500m in purchased assets from funds managed by Neuberger Berman.
– With over 300% growth year over year, Branch will use the funding to deliver faster payments and inclusive financial services to W-2 and 1099 workforces through partnerships with employers, gig platforms, staffing companies, and other businesses.