Dbank Raises Largest Seed Round in Pakistan at $17.6M

Dbank, a Pakistani fintech founded by two former Google staffers, has raised $17.6 million in a seed funding round co-led by Sequoia Southeast Asia and Kleiner Perkins. Brazilian digital banking giant Nubank, RTP Global, Rayn and local partner Askari Bank joined the round. Details on products and launch timelines are scant but Dbank has applied for a digital retail bank license in Pakistan and set its sights on bringing financial services to underbanked people across the Pan-Islamic world.

Reltime Secures USD 50 Million Commitment from GEM Digital Limited

Reltime announced a strategic investment partnership with GEM Digital Limited, a digital asset investment firm based in The Bahamas. Reltime has developed the world’s first global Layer 1, Proof of Authority (PoA) blockchain and Web3 financial ecosystem. Reltime’s goal is by 2025 for 100,000,000 people and enterprises to be financially free and do more with money by sending, receiving, withdrawing, depositing, borrowing, lending, earning, swapping, interacting and transacting on the Metaverses and in the real world.

Gatehouse Bank Receives Investment Grade Rating from Moody’s Investor Service

Credit rating agency, Moody’s Investor Service, assigned Gatehouse Bank an investment grade credit rating of Baa3 BCA with a long-term stable outlook. This is the first credit rating the Bank has received, with Moody’s citing a number of factors in support of its rating, including its role as a growing, leading Islamic compliant bank in the United Kingdom, its solid capital base and good liquidity profile.

Bank of America, BNY Mellon and Citi Make $20 Million Strategic Investment in Genesis Global

Genesis Global, the low-code application development platform purpose-built for financial markets organizations, announced $20 million in new investments from Bank of America, BNY Mellon and Citi.  These strategic investments follow the firm’s $200 million Series C funding announced in February. Speeding the application development process helps financial markets companies accelerate the pace of technology innovation in parallel to operating and upgrading complex legacy systems.

Concept Ventures Secures British Business Bank Backing to Launch £50M Pre-seed Fund ‘Built for Founders’

Concept Ventures (Concept), formerly known as RLC Ventures, has launched an oversubscribed £50m pre-seed fund (the Fund) - including a £30m cornerstone commitment from the British Business Bank’s Enterprise Capital Funds (ECF) programme - to close the ever-increasing funding gap at pre-seed and create the largest, dedicated pre-seed fund in the UK. Established in 2006, the British Business Bank’s Enterprise Capital Funds programme aims to increase the supply of equity capital to high-potential.

Shares Raises $40 Million for its Social Investment App

London-based social and community-based investing app Shares is eying European expansion and a move into crypto after raising $40 million in a Series B funding round led by Valar Ventures. The round, which brings Shares' total funding to $90 million in a little over a year, comes two months after the app launched in the UK.The startup has 150,000 users for its app which mixes all the features expected from a social media app with a simple investment product.

YC Backed Better Opinions Raises $2.5 Million

Better Opinions, a Y-Combinator-backed company, has raised $2.5Mn from investors including Metaplanet VC and Goldwater Capital. The investors participating in the seed round include YCombinator, Taurus VC, Original Capital, Tremis Capital, Super Capital,  and other investors, including angel investors. Better Opinions is an app that operates in the realm of the prediction market and allows users to trade their opinions with real money on events in various categories.

Paycheck Advance Startup B9 Raises $2.6M

B9 Inc, a fast-growing payroll solution platform, aimed at promoting creditworthiness through employment data and economic behaviour, has announced a $2.6M funding round led by Sky Light Invest with participation from prominent FinTech investors Mbanq and the founders of Wrike, a project management application. Previously, in 2021, B9 raised $5 million in seed capital from angel syndicates and angel investors.

Fintech Revolv3 Secures $4.5M for Recurring Billing Platform

Revolv3 announces that Rosecliff Ventures and an angel investor have invested $4.5 Million USD in seed money in the recurring billing solutions company. Revolv3’s unique platform drives incremental profits for merchants by maximizing cards on file settlement rates for recurring billing transactions while minimizing transaction attempts, thus eliminating additional transaction fees.

Digital Asset Fintech Atato Closes $6M Series A

Atato, a digital asset company, has raised $6m from a Series A funding round headed by AlphaLab Capital and FEBE Ventures. Also taking part in the round were Babel Finance, NFT1, Wing Vasiksiri, January Capital, NGC Metaverse Ventures, Huashan Capital, Tom Trowbridge and SOSV. Angel investors such as Dan Bertoli also took part.

Balance Raises $56M Series B to Bring Global Trade Online With B2B eCommerce Checkout

Balance, the leader in B2B marketplace and eCommerce payments, announced a $56 million Series B fundraise, bringing the company’s total funding to $87M. The round was led by Forerunner Ventures with support from Salesforce Ventures, Hubspot Ventures, Lyra Ventures, and Gramercy Ventures. Notable leaders in B2B eCommerce also participated in the round as angel investors, including former Shopify CMO Jeff Wisener, Faire CTO & co-founder Marcelo Cortes.