Indian FinTech EarlySalary Closes on $110M for Expansion

Indian lending fintech EarlySalary has raised $110 million in a Series D funding round led by TPG’s The Rise Fund and Norwest Venture Partners. Founded in Pune in 2015, EarlySalary provides loans of up to Rs 5 lakhs (about $6300) to working professionals. The company has since expanded into the BNPL market, with a focus on education, health and consumer product financing. Targeting the 50% of Indians that do not have access to credit, the firm is now operating in over 150 cities, with a million customers for its digital loans.

Solid Raises $63 Million Series B Led By FTV Capital

Solid, the leading fintech-as-a-service platform that offers a modern infrastructure for any company to launch and scale fintech products, announced its $63 million Series B funding round. Led by FTV Capital, a sector-focused growth equity firm with nearly 25 years of experience investing in financial technology, the funding will accelerate Solid’s expansion into fintech-ready verticals such as travel, logistics, construction, healthcare, education, and the gig economy.

British Business Investments Commits Up to £10M to Haatch Ventures

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, announcesa commitment of up to £10m to Haatch Ventures (Haatch) through the Regional Angels Programme. Haatch, headquartered in Stamford, Lincolnshire, is an early-stage investor and is led by founders Fred Soneya and Scott Weavers-Wright OBE, who has both founded and exited businesses themselves and has invested in more than 50 start-ups.

Compliant Payment System Secures Seed Round Led by SFC Capital, Bringing Total Funding to £1.2M

Ryft, the revolutionary PSD2 compliant payments system, has raised a large seed round, led by SFC Capital, the UK’s most active seed-stage investor. Additional investors include the ex-founder of Shutterstock and the founder of LoveFilm. Ryft enables automated next-day payouts for marketplace businesses and their merchants, for a single flat fee per transaction. The Ryft solution processes payments and then automatically diverts funds to merchants and sub-merchants (minus any commissions) the next working day.

Save Now Buy Later Fintech Tortoise Raises Funding from Swiggy and ZestMoney Founders

Fintech startup Tortoise, a platform that rewards consumers to save up for their  purchases,  has received an undisclosed amount of funding from Sriharsha Majety co-founder / CEO of  Swiggy) and Lizzie Chapman,  co-founder / CEO of Fintech ZestMoney in a mentors round. The Save Now Buy Later (SNBL) startup had earlier this year raised around $2.3 million, in a seed round of funding, from Vertex Ventures, a part of global investment firm Temasek.

Pezesha Raises Pre-series A of $11M to Grow its Embedded Finance Platform

Pan-African embedded finance Fintech Pezesha has raised a pre-series A investment of $11 Million. The round was a mix of $6 million equity and $5 million debt. The funding round, which was led by Women’s World Banking Capital Partners II (WWBCP II), will see the company significantly scale operations in its core markets and grow into new markets within Sub Sahara Africa.

International Payments Addressing Platform iPiD Secures $3.3M in Seed Funding

Fintech start-up iPiD has announced a $3.3M seed funding round by strategic investors Rapyd Ventures, Jungle Ventures, 1982 Ventures, Resolution Ventures, Saison Capital, the XA Network and Wing Vasiksiri. In addition, the company has announced the appointment of Alain Raes, a long-time payments industry expert and former SWIFT executive, to the iPiD management team as Chief Commercial Officer.

VRGL Announces $15M Series A Fundraising Round Led by MissionOG and FINTOP Capital

VRGL, Inc (“VRGL”), a provider of institutional-grade analytics and automated data extraction to the wealth management industry, announced it has raised $15 million in a Series A round led by MissionOG and FINTOP Capital.  Founding investors Sallyport Investments and Checchi Capital also participated.  The round also included investments from other venture firms and strategic partners including Dynasty Financial Partners, Northwestern Mutual Future Ventures, Flyover Capital, Fin Capital, and The Compound Capital.

Singapore-Headquartered FinTech banco Raises US$6.7 Million in Series A Round

Singapore-headquartered, Financial Technology (FinTech) company, banco (RABC Group) announced the successful raise of US$6.7M in Series A funding led by Japan-based leading financial group SBI Group, alongside investors Sumitomo Mitsui Banking Corporation (SMBC), R3, Savills, KZM & Company, and others.With this fundraise, banco will look towards recruiting talents with technology and business development expertise, as well as, market expansion within the Southeast Asia region.

Lightnet Raises US$50 Million to Bolster Blockchain-Powered Remittances

The Lightnet Group ("Lightnet") announced it has secured a $50 million capital commitment from LDA Capital Ltd ("LDA") to grow its infrastructure, operations, and expand its technological partner's (Velo Labs Technology) blockchain technology.  Lightnet will have the option to increase the $50 million to a total commitment of up to $100 million over the next three years. The funds will be utilized to facilitate web 3.0 payment and blockchain ledger-based remittance services focused across Asia Pacific and globally around the world.

Nigeria’s Grey Raises $2M for Cross-border Payments

The provision of virtual foreign bank accounts has become a common strategy for fintechs to enable Nigerians and Africans to facilitate international transfers. In the latest development, Grey, a fintech in this category that provides virtual international bank accounts to African freelancers and remote workers, is announcing that it has raised $2 million in seed funding.