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Africa Banking Financial Services Information Technology Payments

South African digital bank TymeBank lands $109M from UK and Philippines investors

– TymeBank, a South African digital bank, secured an investment from new investors in the U.K. and Philippines.
– The company made this known via a statement.
– This investment will be used to bolster TymeBank’s growth and drive its commercial expansion across the country.
– The company offers a transactional bank account with zero or low monthly fees and a savings product.
– Most of its customers are onboarded via physical kiosks, usually in Pick n Pay and Boxer stores around the country.
– Since launching in February 2019, TymeBank has grown rapidly and now has about 2.8 million customers.
– The company says that it’s on track to reach 3 million by the end of next month.

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Analytics Asia Banking Finance Financial Services Insurance Price Comparison Software

Earnix, the Leader in AI-driven Rating, Pricing and Product Personalization for Insurance and Banking, Announces $75M Growth Funding With a Pre-Money Valuation of $1B to Accelerate Its Global Expansion

– Earnix announced $75M in growth funding with a pre-money valuation of $1B.
– The round was led by Insight Partners, with existing investors JVP, Vintage Partners and Israel Growth Partners joining the round.
– The new funding will fuel Earnix’s global expansion into new market segments and regions, increase investment in product innovation, rapidly accelerate hiring and support M&A activities to further anticipate the needs of a rapidly changing market.
– Leveraging this investment, Earnix will continue to bring transformational value to Insurance and Banking by bridging the gap between financial institutions and the needs of their customers.
– Jonathan Rosenbaum, Principal at Insight Partners, will be joining Earnix’s Board of Directors.

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Apps Banking Financial Services FinTech North America

Varo Bank raises another $63M, led by NBA star Russell Westbrook

– Varo Bank, a digital bank, raised $63m in new funding.
– The round was led by NBA star Russell Westbrook, who will also join the startup as an advisor focused on the direction of Varo Bank’s programs aimed at underserved communities, including communities of color.
– Existing Varo Bank investors include Warburg Pincus, The Rise Fund, Gallatin Point Capital, HarbourVest Partners and funds managed by BlackRock.
– With the additional funds, Varo Bank’s total raise to date is now $482.4 million.

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Angel Investment Banking Financial Exchanges Financial Services FinTech North America

Titan nabs $12.5M for ‘next generation’ investment management

– Titan, a startup that is building a retail investment management platform aimed at millennials, has closed on $12.5 million in a Series A round led by VC heavyweight General Catalyst.
– A bevy of other investors put money in the round, including Sound Ventures (actor Ashton Kutcher and Guy Oseary’s VC firm), Scribble VC, BoxGroup, Y Combinator, South Park Commons, Instagram founder Mike Krieger, Lee Fixel and others.
– Titan is hoping to build on the momentum it saw in 2020, during which it grew revenue, customers and assets under management by 600%, “with effectively no marketing budget, according to co-founder Joe Percoco. The New York-based company says it’s approaching $500 million in assets under management and was cash flow positive last year.

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Asia Banking Financial Services

Zolve raises $15 million for its cross-border neobank aimed at global citizens

– Zolve is a neobanking platform for individuals moving from India to the U.S. (or the other way around).
– The startup works with banks in the U.S. and India to provide consumers access to financial products seamlessly — without paying any premium or coughing up any security deposit.
– Zolve underwrites the risks, which has enabled banks in foreign countries to extend their services to Zolve customers.

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Asia Banking Financial Services FinTech Risk Management

Mirato Closes $9-Million Funding Round to Accelerate Development of Next-Generation Third-Party Risk Management Platform

– Mirato Closes $9-Million Funding Round to Accelerate Development of Next-Generation Third-Party Risk Management Platform
– Mirato, provider of a third-party risk management (TPRM) platform that orchestrates and automates the entire TPRM lifecycle (including onboarding through monitoring), today announced the completion of a $9-million funding round to support the continued development and commercialization of its technology.
– The round was led by Grove Ventures and co-led by Janvest Capital Partners, with additional funding provided by American Express Ventures, iAngels, and others.
– Financial institutions increasingly rely on business interactions with third-party suppliers, and are facing greater pressure from regulators to understand the potential impacts and implications of these business engagments.

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Banking Europe Financial Services FinTech Information Technology Software

Banxware Secures EUR 4M in Seed Financing

– Banxware, a Berlin, Germany-based software-as-a-service provider for Embedded Financial Services, raised EUR 4m in seed financing.
– Backers included High-Tech Gründerfonds (HTGF) Force over Mass, VR Ventures and several business angels.
– The company will use the funds to expand operations and its business reach.

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Banking Computer Cryptocurrency Oceania Software

Synthetix Raises $12M in Funding

– Synthetix is a decentralized trading platform.
– Company raised $12m in funding.
– The round was led by Coinbase Ventures, Paradigm and IOSG.
– The new investment will be used to expand the company’s business reach and recruit talent.

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Banking Europe Financial Services

Sweden-based digital bank Northmill raises $30M

– Northmill Bank, a Swedish digital bank, raised $30m in funding.
– The round was led by M2 Asset Management and Coeli.
– The injection of cash will be used for continued geographical expansion and to accelerate the development of new products.
– Notably, this will include plans to launch in 10 new markets as Northmill aims to step on the gas. Next stop, Norway.
– The bank employs 150 people and offers savings, credits, payments and insurances.

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Banking FinTech Information Technology North America Software

NYMBUS Raises $53 Million in Series C Funding Led by Insight Partners

– Nymbus raised a $53m Series C funding round.
– The round was led by Insight Partners.
– Nymbus will leverage the latest funds to empower financial institutions with expanded access to its unique GROW model which creates new digital revenue streams for banks and credit unions.
– Nymbus is a leading provider of banking technology solutions.
– Nymbus makes digital transformation quickly available to move any size financial institution forward.
– As part of this round, AJ Malhotra, Principal at Insight Partners, will join Managing Director Peter Sobiloff on the Nymbus Board of Directors.
– Jeffery Kendall will assume the title of CEO and Chairman of the Nymbus Board of Directors.
– Nymbus will continue broadening its solution and service offerings.

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