Babel Finance Raises $80 Million in a Series B Funding Round, Valuation Hits $2 Billion

Babel Finance, a crypto-financial service provider that provides digital asset loans, recently raised $80 million in a Series B funding round. The investment increased the company's worth to $2 billion. Leading venture capital companies such as Circle Ventures, 10T Holdings, Jenerations Capital, BAI Capital and Bertelsmann, and Dragonfly Capital led the fundraising. Babel Finance's $80 million funding round is not it's first. 

SumUp Raises €590m at €8bn Valuation in a Funding Round Led by Bain Capital Tech Opportunities

SumUp, a London-based mPOS provider, has raised €590 million in a capital round that values the company at €8 billion - a decrease from the €20 billion valuation it sought earlier this year.  Bain Capital Tech Opportunities led the round, with participation from BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, and Sentinel Dome Partners funds. SumUp, which was founded in 2012, offers small businesses a free business account and card, an online store, and an invoicing solution, in addition to in-person and remote payments connected with its card terminals and point-of-sale registers.

Fintech Infrastructure Firm Prime Trust Raises $107m in a Series B Funding Round 

Series B funding was raised by Prime Trust, a one-stop-shop for API-based financial infrastructure for fintech and digital asset entrepreneurs. The following investors participated in the round: FIS, Fin Capital, Mercato Partners, Kraken Ventures, Commerce Ventures, William Blair & Company, Decasonic, University Growth Fund, Gaingels, GateCap Ventures, and Seven Peaks Ventures.

B2B BNPL Startup Playter Raises $55m from Klarna, Sofia and Pipe

Playter, a buy now, pay later company based in the United Kingdom, has secured a $55 million loan and equity round led by Klarna, SoFi, and Pipe. Adit Venture Capital and Fasanara Capital led the round, and Fin Capital, Act Venture Capital, and 1818 Ventures also participated. The financing follows $1.7 million in seed funding in March. Playter offers to assist SMBs minimise their burn rate by allowing for the instalment payment of professional services fees.

Cleo Raises $80m for Money Management Bot at $500m Valuation 

Sky News reports that the British AI-based personal finance chatbot Cleo has been valued at $500 million thanks to a $80 million fundraising round. Sofina, a tech investor, participated in the financing, which occurred around 18 months after a $44 million funding round, according to Sky. Cleo, a 2016 London-based startup, interacts with users' bank accounts and analyses their spending patterns and transaction histories using artificial intelligence to assist with money management.

Payments Orchestration Startup Formance Raises $3.1m from Hoxton Ventures, Frst, Y Combinator

Formance, a French fintech startup that provides organisations with a "low-code" template for tracking payment flows in real time, has secured $3,1 million from Hoxton Ventures, Frst, Y Combinator, and a number of business angels. Fomance, which was founded in 2021 by Clément Salaün and Anne-Sybille Pradelles, provides pre-built, fully-customizable use-case templates for the tracking of financial flows between pay-ins and payouts.