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Financial Services FinTech North America Stock Exchanges Trading Platform

Neobroker nextmarkets receives $30 million in Series B funding round

– nextmarkets, the innovative and commission-free online broker, receives $30 million in a Series B financing round.
– The additional capital is intended to further accelerate the European expansion of the FinTech company, which was founded in Cologne in 2014, and to establish nextmarkets as the leading neobroker in Europe.
– In addition to Germany and Austria, six further countries – the United Kingdom, Portugal, the Netherlands, France, Spain and Italy – were launched at the end of 2020.
– The financing round closes out a successful 2020 financial year for nextmarkets, in which the company was able to multiply all KPIs such as the number of executed transactions, customer deposits, as well as the number of customers.

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Financial Services FinTech North America Personal Finance

FutureFuel.io Raises $10 Million Series A1 Round From the Investment Arms of Established Financial Services Entities Led by UBS

– FutureFuel.io, a student loan repayment platform that helps borrowers pay down debt quickly and efficiently, today announced a $10m Series A1 round, bringing its total Series A funding to $21.6M.
– This latest round was led by UBS, the world’s leading global wealth management firm, with additional participation from the investing arms of established technology, financial services, and insurance leaders, including new investor Aflac Ventures, and existing investors Fiserv, and Salesforce Ventures. Fiserv, Salesforce, and UBS are also customers of FutureFuel.io, leveraging the platform to address student debt within their workplace, as an employee benefit. All previous FutureFuel.io investors also participated in this round of funding, including Rethink Impact, Vulcan Capital, Breton, SixThirty, and the Impact Engine.

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Employee Benefits Financial Services FinTech North America

Minu, the Largest Pay On Demand Player in Latin America, Raises $14 Million to Cement Financial Wellness in the Mexican Workforce

– Minu, an employee financial wellness company, today announced that it has raised $14 million in Series A funding.
– The round was led by FinTech Collective, with participation from VEF, XYZ Ventures, and FJ Labs, as well as DocuSign founder Tom Gonser and Gusto CFO Mike Dinsdale. Existing investors QED Investors, Next Billion Ventures, and Village Global also participated.
– The round includes $2.5 million of debt from Banco Sabadell Mexico. To date, Minu has raised a total of $20 million.

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Europe FinTech Gift Card Internet Payments SaaS

WeGift Closes $12 Million Series A+ Round to Accelerate Growth of Digital Payouts Platform

– WeGift closes $12m Series A+ round to accelerate growth of digital payouts platform.
– WeGift has already captured significant market share in the B2B digital rewards industry with customers like Habito, Perkbox, Seated, and Vodafone.
– WeGift plans to invest heavily in go-to-market hiring, product development, and expanding into the U.S.
– This round will establish WeGift as the universal digital payouts platform for businesses.

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Asia FinTech Fraud Detection Identity Management Payments Privacy

Identiq Raises $47M Series A, Poised to Become the World’s Largest Identity Validation Network

– Identiq announced a $47m Series A round led by Insight Partners and Entrée Capital, with additional participation from Amdocs, Sony Innovation Fund by IGV, and existing investors, including Vertex Ventures Israel, Oryzn Capital and Slow Ventures.
– The company plans to use the investment to further accelerate its network growth, adding more members, each of which will improve the validation, quality and coverage for all members. This flywheel effect will drive further value for the network’s existing members, improving data coverage and accuracy.
– The company is building the world’s largest Identity Validation Network, enabling companies to jointly validate consumer identities, payment details and other sensitive information without sharing or exposing any private data.

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Asia Banking Finance Financial Exchanges Financial Services FinTech

Xendit Raises US$64.6 Million Series B Led by Accel to Scale Its Digital Payments Infrastructure Ushering in a New Era of Economic Security and Reliability in Southeast Asia

– Xendit, the fastest growing digital payments infrastructure for Southeast Asia, announces it has raised US$64.6m in a Series B round led by Accel to deliver more secure and reliable economic success in the region.
– Altogether, the company has raised $88m in funding.
– Amid Southeast Asia’s rapid digital transformation, Xendit is quickly bolstering businesses of all sizes, processing more than 65m transactions with US$6.5b in payment value annually.
– “Southeast Asia is a massively complex region, with Indonesia having 17,000 different islands alone—not to mention the region’s regulatory and technological challenges. Trying to build the businesses of tomorrow on yesterday’s infrastructure is holding Southeast Asia’s businesses back,” said Moses Lo, CEO and Co-Founder.

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Europe Financial Services FinTech Software

Codat Announces Strategic Investments by PayPal Ventures and American Express Ventures

– Codat announced strategic investments from PayPal Ventures and American Express Ventures.
Amex Ventures and PayPal join previous investor in Codat’s Series A Index Ventures.
– Along with the announcement of these new investments, Codat also formally launched its U.S. operations.
– Codat is the fintech startup powering the small and medium business data ecosystem.
– Codat’s API connects the tools and services that small businesses need for their operations and handles the heavy lifting of integrations—ultimately leaving providers free to focus on improving their offerings for small businesses.
– Codat was founded in London in 2017 to support small- and medium-sized businesses by providing a critical data exchange between SMBs and the financial institutions and fintechs that serve them.

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E-Commerce Europe Finance Financial Services FinTech Payments

Klarna confirms new $31B valuation

– Klarna, the Swedish buy now, pay later behemoth and upstart bank, has raised $1 billion in new funding at a post-money valuation of $31 billion.
– Backers of this round are said to be a combination of new and existing investors.
– The company plans to pledge 1% of the capital raised to a newly created initiative that focuses on “key sustainability challenges around the world”.

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Artificial Intelligence Credit Finance Financial Services FinTech North America

Borrowell Raises $25M in Funding

– Borrowell is a Toronto, Canada-based credit education company.
– The company raised $25m in funding.
– The round was led by Kensington Capital Partners, BDC Capital, iA Financial Group and Impact Engine, a Chicago-based social impact-focused investment fund.
– Existing investors Portag3 Ventures, White Star Capital, National Bank of Canada’s NAventures and Equitable Bank also participated with new funding.
– The new funding will be used for the acquisition of Refresh Financial, a provider of credit to underserved Canadians, and to support future growth.

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Africa Financial Services FinTech

Stitch emerges from stealth with $4M for its API fintech play in Africa

– Stitch, a South African fintech startup, is coming out of stealth and announcing its seed round of $4 million.
– This makes it the largest round raised by any API fintech startup in Africa at the moment.
– The company wants to provide full API access to financial accounts across Africa starting from its first market, South Africa.
– With its API, developers can connect apps to financial accounts. This allows users to share their transaction history and balances, confirm their identities and initiate payments.

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