15/04 – Weekly Investment & Fundraising News

Montreal insurtech Emma closes a $6M Series A round

Led by prominent Canadian investors — Luge Capital, Investissement Québec, and Tactico — the $6M financing round will further enhance Emma’s impressive growth in the Canadian market. A year after taking part in the inaugural cohort of Intuit Prosperity Accelerator, Emma has grown by more than 500% and is now looking to help even more Canadian families get the right life insurance coverage. Thanks to its strategic partnership with the insurance company Humania Assurance, Emma can build its own insurance products. While the startup currently offers the simplest and fastest life insurance in Canada, it also aims at bringing more inclusivity and accessibility with a series of new products.

PaySprint, a Fintech Company Raises Seed Capital funding from Fino Payment Bank

PaySprint is a star-up Fintech launched in December 2020 with the vision is to empower millions of Indians to Digital Banking. The recent guidelines of RBI on establishment of Digital banking Units is line with their vision of empowering the expansion of digital financial services across India. In a short period, PaySprint, has raised seed capital funding from Fino Payment Bank. Fino is acquiring 12.19% stake in PaySprint. PaySprint has pioneered strong Partnerships with the Banking ecosystem and providing Unified Open API Platform that would transform how Bharat transacts and leads to larger Consumer Adoption, Interface and Delight.

Pires Investments plc (AIM: PIRI) Update on investment in Pluto Digital PLC

Pires Investments plc, the investment company focused on next generation technology, noted that one of its investments, Pluto Digital PLC ("Pluto"), has just finalised its audited accounts ("Accounts") and has recently held a webinar to provide an update to shareholders. The Accounts were prepared to 30 September 2021 and have been fully audited.  Since March 2021, when the company raised £31 million in new funds, Pluto has grown its net assets by circa £30 million on a net basis. Therefore, as at 30 September 2021, Pluto's net assets amounted to £61 million or 9.5 pence per share.

Connectd Secures Further $1.6 Million Seed Round to Launch Platform in Europe

Connectd, a growth network for the early-stage business ecosystem that helps startups, investors and advisors make and manage meaningful connections, has secured a further $1.6 million in seed funding to expand into the European market and launch two innovative new tools. Founded by serial entrepreneur Roei Samuel, Connectd has expanded its operation into Europe with a new office opening in Stockholm, Sweden. Since its launch in February 2020, Connectd has brought together more than 1,000 startups, and over 1,000 investors and business advisors fostering more than 20,000 connections in over ten countries.

Fidel API raised $65m in a Series B funding round led by Bain Capital Ventures

Fidel API, a global financial infrastructure platform, announced it had raised $65 million in Series B funding. The round was led by Bain Capital Ventures, with participation from existing investors NYCA Partners, QED Investors and more. It brings Fidel API’s total funding to $88 million since inception. Fidel API enables developers to create programmable experiences that enhance the value of using and accepting payment cards. Its platform provides identity, data, and payments products that allow developers to capture consent permissions and securely connect payment cards to a service or application.

RITMO Raises $200 Million in Debt Funding Round

Fintech RITMO has successfully closed a $200 million debt funding round led by i80 Group and Avellinia Capital, making it one of the largest funding rounds of any e-commerce finance business in Europe and Latin America (LATAM). The debt financing was provided by i80 Group, a US-based leading provider of capital to breakthrough technology companies that has committed over $1 billion in credit to fintech and proptech firms and by Avellinia Capital, a leading European provider of tailor-made capital solutions for fast-growing disruptors across fintech lending, e-commerce and mobility.

Blend Network Secures £120M Committed Capital From a Consortium of Large Family Offices to Deploy in The UK Housing Market

Market-leading and award-winning specialist development finance lender Blend Network (“Blend”) has SECURED £120 million committed capital from a consortium of large family offices to significantly boost its lending capability and further support mid-size property developers in the UK. This strong show of support in the form of a committed capital to be deployed by Blend reflects the company’s rapid and consistent development since its establishment in 2018 and its strong track record. It is also a clear recognition among investors of an urgent need for liquidity among mid-sized housebuilders across the UK.