11/03 – Weekly Investment & Fundraising News

  • Fundraising News
  • 11.03.2022 10:00 am

Atlan Raises $50M Series B led by Salesforce Ventures, Sequoia, and Insight to Build a Collaboration Hub for Data Teams

Atlan announced that it has closed its $50M Series B round led by Insight Partners, Salesforce Ventures, and Sequoia Capital India. Several founders in the data space participated in the round including Fivetran founder Taylor Brown and ThoughtSpot founder Ajeet Singh. Atlan creates a unified discovery and collaboration experience, bringing context and trust to the entire modern data stack. “Today, data assets are not just tables, but code, models, BI dashboards, and pipelines,” said Prukalpa Sankar, Co-Founder of Atlan.

Embedded Finance Network mmob Closes £5 million Seed Round

mmob, the UK’s first embedded finance network has announced the successful completion of a £5m seed round. The investment was raised from a group of angel investors including high net worth individuals and senior banking executives. mmob will use the investment to advance the development of its technology platform, enter new markets including Malaysia, and further its leadership position within embedded finance. Mmob empowers consumer-facing fintechs to supercharge their growth through the rapid integration and delivery of relevant products and services that meet their customers’ financial needs.

Brazilian Fintech Noh Raises $3m Seed Funding to Kick-start the Digital Age of ‘multi-player Finances’

After closing a seed round of $3M led by Kindred Ventures, fintech Noh is preparing to enter one of the hottest untapped markets in Brazil: multi-player or shared finances. Brazil is one of the world’s top nations for making joint purchases. Noh promises to automate the division of expenses, taking away the stress of chasing money owed by friends and the hassle of transferring cash for every individual bill. Noh’s ultimate goal is to become the country’s main payment method.

Thirdfort Secures £15m Series a Funding to Tackle the UK’s Escalating Money Laundering and Payment Fraud

Thirdfort, a risk management platform for professional services, has secured £15m in a Series A round. The company will use the financing to ramp up growth and product development, in line with its vision to build a seamless and flexible platform for beautifully secure client onboarding and payments. The fundraising was led by Breega, a leading pan-European VC built by founders for founders. Element Ventures, a London-based fund focused on B2B fintech, has also invested in the round.

Lloyds Bank invests £5 million in working capital platform Satago

Lloyds Bank has invested £5 million for a 20% stake in invoice financing startup Satago and will roll out the platform for its Single Invoice Finance and whole of book Invoice Factoring customers.The deal with Satago follows a competitive tender process and a six month trial of the technology. Once deployed it will introduce a new digitised proposition for lending to the bank's SME customers. As part of the arrangement, Ben Stephenson, MD and head of specialist client solutions at Lloyds Bank will join Satago's board.

Acorns Raises $300m After Abandoning Spac Plans

Acorns, the savings and investing app, has raised $300 million from private investors at a $1.9 billion valuation, after abandoning plans to go public via a Spac. According to CNBC, TPG led the Series F round, which included participation from BlackRock, Bain Capital Ventures, Galaxy Digital, and basketball star Kevin Durant's venture capital firm. Acorns, which launched in 2014, now claims over four million users in the United States for its app, which automatically rounds up PayPal and debit and credit card purchases and invests the difference in stocks and bonds. It decided to join the Spac train last year, outlining a $2.2 billion deal with Nasdaq-listed Spac Pioneer Merger Corp.

Lendable Raises £210 Million at £3.5 Billion Valuation

Consumer finance platform Lendable, based in London, has raised £210 million in a funding round led by the Ontario Teachers' Pension Plan Board. Lendable, founded in 2014, connects global institutional investors and borrowers across all major product categories, including loans, credit cards, and auto finance. Consumer credit volumes in the United Kingdom and the United States are substantial, with an addressable market of nearly $3 trillion.

Nordic Neobank Lunar Receives €70 Million in Fresh Funding

Lunar, a Daniosh neobank, has raised €70 million in new capital to prepare for the launch of new crypto trading and business-to-business payments products. The new funding round follows the Nordic challenger's €210 million Series D funding round in July of last year. The firm has now raised a total of €345 million and is valued at just under €2 billion. Lunar currently has 500,000 customers and €1.3 billion in deposits spread across Denmark, Sweden, and Norway, with plans to expand into Finland. The company's expansion into business banking is also gaining momentum, with 15,000 customers on board and new payment services on the way.

Capchase has raised $80 million in a Series B funding round led by 01 Advisors

Capchase, a startup in the United States that assists entrepreneurs in obtaining non-dilutive capital, has raised$80 million in a Series B round led by 01 Advisors. The round was co-led by QED, Caffeinated Capital, Bling Capital, ScifiVC, Thomvest Ventures, Tusk Venture Partners, Invesco, and Gaingels. Capchase, founded in 2020, assists businesses in releasing cash that is otherwise locked up in future predictable revenue payments. Since its inception, it has worked with nearly 3000 companies across the United States and Europe, providing founders with over $2 billion in funding and extending runways by over 5,000 months.            

Dutch BNPL In3 has raised $11.1M in Funding and Struck a Deal with Payments Firm Worldline

In3, a Dutch BNPL company, has raised $11.1 million in funding and announced a partnership with payments firm Worldline to expand its merchant base. In3 was founded in 2018 by a group of individuals who were involved in the early BNPL wave of the 2010s. It enables customers to pay for goods in three equal payments over 60 days at no interest and without registering for credit.

Related News