US dominates once again in this weeks 28 deals

Amid troubling market conditions, the US is continuing to perform well, which is evident in this week’s 28 funding rounds.

Out of the top ten deals this week, US-based companies featured in five. Atlanta-based Blockchain company Aptos Labs scored $150m in a round led by FTX Ventures and Jump Crypto. Other deals in the US included Finexio with a $30m Series B, PropTech Price Labs scoreing $30m, ZEDEDA landing $26m, and Anvilogic raising $25m.

The biggest deal of the week however, came from Switzerland-based CyberTech Acronis, which bagged $250m.

This strong performance in the US follows an equally strong first quarter of the year. Research from FinTech Global found that US investors were the most active dealmakers in Q1 of 2022.

Tiger Global, an investment firm focused on public and private technology companies, was the most active FinTech investor in 2022 with 56 deals in total. Tiger Global has managed to impact US markets heavily due to its fast-paced investment style first developed in China and India where the company are willing to pay higher prices and forgo board seats in order to move quicker which puts pressure on rivals. The method seems to be working as the hedge funds managed by Tiger Global outperformed the US stock market by a factor of eight last year.

The US also seems to be very active in seed deals. In March for example, FinTech Global research found that the US accounted for 44% of total seed deals.

Seed funding rounds are a good predictor of future growth in particular sector as companies look to scale up in the coming years. The higher the value of the seed round the higher market potential that venture capitalists (VCs) see in companies, which in this case shows that investors are bullish on the US market as well as PayTech and Marketplace Lending sectors.

This week also saw two PropTech deals take place, one of which landed itself a place in the top ten. Price Labs, a dynamic pricing and revenue management solution for the short-term rental market, raised $30m and Latchel, a property management platform modernising maintenance operations and resident amenities, scored $16.7m.

Research from FinTech Global revealed that the PayTech sector is booming in Africa. In the first half of 2022 the sector saw 36 deals in total, accounting for 26% of the 143 FinTech deals in the region. The PayTech sector also dominated in terms of capital raised, amassing $401m, which accounted for 39% of total funding raised in Africa during H1 2022. Total transaction value for digital payments in Africa is expected to reach $116bn in 2022 and has a projected CAGR of 16.79% from 2022 – 2026.

KuCoin, a Cryptocurrency exchange and trading platform, was the largest African FinTech deal in H1 2022 with their latest Series B funding round raising $150m, led by Jump Crypto which pushed the company’s valuation to a staggering $10bn. KuCoin will use the funds to expand its product offerings, going beyond its current centralised trading services and increasing its presence in the broader Web3 market, by building out crypto wallets, DeFi and NFT platforms.

Overall investment in Africa reached $526m in Q2 2022, a 13% increase from the previous quarter which brings investment in H1 2022 to $991m. Capital raised in 2022 is projected to reach similar levels in 2021, decreasing by a slight 2% to $1.98bn based on investment in H1 2022. Deal activity is also expected to reach similar levels to 2021 with a microscopic 0.5% decrease to 286 deals in total.

Here are the 28 deals this week.

Acronis bags $250m in BlackRock-backed funding round

CyberTech firm Acronis has raised $250m in an investment round that saw support from companies including BlackRock.

The investment also saw participation from CVC Capital Partners VII and other investors. Acronis has previously received financial banking from Goldman Sachs. The round valued Acronis at more than $3.5bn, increasing from $2.5bn.

Founded in 2003, Acronis unifies data protection and cybersecurity, delivering cyber protection that solves safety, accessibility, privacy, authenticity, and security challenges.

The company also offers antivirus, backup, disaster recovery, endpoint protection management solutions, and award-winning AI-based antimalware and blockchain-based data authentication technologies through service provider and IT professional deployment models. These solutions protect data, applications, and systems in any environment.

Acronis products are available through 50,000 partners and service providers in over 150 countries and 40 languages.

Blockchain developer Aptos Labs collects $150m in funding

Aptos Labs has raised $150m in a funding round led by FTX Ventures and Jump Crypto.

Other backers included Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt founded by Temasek, a16z crypto and Multicoin.

Aptos said the funding has come at a critical time for the industry. As a result, Aptos is using this as an opportunity to build “the reliable foundation web3 has been waiting for.” It is currently working with strategic partners to identify consumer needs and address them by shipping the most performant and upgradable blockchain technology.

The company claims to be creating the safest and most scalable Layer 1 blockchain. Its services are being used by Coinbase, Paymagic, Paxos, BNB Chain and many more.

The company currency supports the finance, gaming, social network and media industries, with plans to launch into other markets.

Balance pulls in $56m

Balance, a B2B e-commerce payments company, has raised $56m in Series B funding in a round led by Forerunner Ventures.

Also participating in the raise was Salesforce Ventures, Hubspot Ventures, Lyra Ventures, and Gramercy Ventures. Notable leaders in B2B eCommerce also joined as angel investors, including former Shopify CMO Jeff Wisener, Faire CTO & co-founder Marcelo Cortes, as well as previous investors Ribbit Capital, Lightspeed Ventures, Avid Ventures, Upwest and Jibe.

Launched early 2021, Balance provides an online checkout with omni-channel support buil for businesses. Its offering allows companies to process any payment method, offer flexible terms, and get paid instantly within one platform.

The company has grown its customer base by ten times since its launch, partnering with typically traditional offline industries such as food, steel, and chemicals.

Balance said it will use the funding to expand its offerings to new, global eCommerce platforms and enable B2B merchants to grow their digital revenue, fuelling its mission to fully digitise B2B trade.

Europe’s first social trading app closes $40m round

Shares, which claims to be Europe’s first social and community-based investing app, has closed its Series B on $40m, just months after its UK launch.

Valar Ventures served as the lead investor.

This investment will help Shares continue its expansion across Europe and launch a crypto-asset proposition, among other new features. Its crypto feature will help users transact in the digital assets space.

The company expects to be live in the rest of Europe by the end of the year and has hired regional general managers and teams in Barcelona, Berlin, Stockholm, Krakow and Amsterdam.

With the close of the round, the company has raised a total of $90m in equity. It previously raised $40m for its Series A in March 2022.

Since its launch in the UK in May 2022, Shares has attracted over 150,000 users and became the second most downloaded app in the finance category on the App Store and the sixth most downloaded app in the UK.

The company aims to be making investing more accessible to everyone. Of its customers, 65% are Gen Z and 26% are millennials.

User management platform Frontegg closes $40m round

Frontegg, a user management platform for B2B apps, has netted $40m in its Series B round, which was co-led by Stripes and Insight Partners.

With the capital, Frontegg plans to expand its product offerings and invest into infrastructure. It also hopes to scale its R&D efforts and its go-to-market teams in Tel Aviv and San Francisco Bay Area.

Research from Gartner claims that SaaS spending will reach $208bn in 2023, up from $176bn in 2022. Echoing this rise of SaaS, research from Frontegg claims that over 70% of Series A funding rounds this year have been raised by B2B SaaS companies.

Frontegg claims to be the only solution that offers a robust and scalable user management infrastructure for B2B SaaS, handling the full user journey from signup to subscription. Its platform is multi-tenant at its core, which enables organisation-level granularity for any setting or configuration.

Its platform is designed around speed, with teams able to quickly get started and allows rapid migration paths for companies with outdated legacy solutions, it claims. Companies in the FinTech, cybersecurity and medical sectors currently leverage Frontegg.

PayTech Finexio continues momentum with Series B raise

Finexio, the B2B accounts payables (AP) Payments-as-a-Service company, has completed the first close of its $30m Series B funding round.

The company has so far raised $14m at a $100m pre-money valuation.

The round was co-led by Mendon Venture Partners and National Bank Holdings Corporation Discover Financial Services, Post Road Partners, The Banc Funds, EOM Investments, and other new and existing investors also participated.

Finexio embeds B2B Payments-as-a-Service capabilities directly into the world’s largest AP and Procure to Pay Software (AP2P) suites. The Finexio infrastructure and APIs provide predictive payment and cashflow analytics capabilities, supplier identity and fraud prevention technology, and exception processing automation.

These features, according to Finexio, allow corporate end-users of the software to identify, deliver, and support 100% of their business payments digitally, allowing them to transition away from manual payment processes and costly paper checks.

Finexio said the capital will enable it to accelerate the accounts payable and procurement software industry adoption of its ‘B2B Payments-as-a-Service platform’, grow its team, and accelerate product development.

Rental pricing software PriceLabs scores $30m from Summit Partners

PriceLabs, a dynamic pricing and revenue management solution for the short-term rental market, has announced a $30m minority growth investment from Summit Partners.

This investment is the first financing to PriceLabs and will help it bolster its revenue management solutions and fuel global team growth.

Founded in 2014, PriceLabs was created to bring AI and analytical tools to owners and managers of vacation homes and short-term rentals. Its idea stemmed from the co-founder Richie Khandelwal’s frustrations while managing personal rental property and the inability to efficiently adjust prices based on changes in demand.

The automated dynamic pricing solution continuously analyses historical and forward-looking hyper-local data to sense changes in demand and recommend optimal daily pricing tailored to each property’s unique characteristics.

It currently powers over 150,000 listings in over 100 countries.

ZEDEDA bags Series B

ZEDEDA, which provides a scalable cloud-based orchestration solution that delivers visibility, control and security for distributed edge computing, has raised $26m in Series B funding.

The round saw participation from new and existing investors, including Coast Range Capital, Lux Capital, Energize Ventures, Almaz Capital, Porsche Ventures, Chevron Technology Ventures, Juniper Networks, Rockwell Automation, Samsung Next and EDF North America Ventures.

ZEDEDA, which has now raised more than $55m since its inception, aims to make edge computing effortless, open, and intrinsically secure.

The company provides a distributed, cloud-native edge management and orchestration solution, which it said simplifies the security and remote management of edge infrastructure and applications at scale.

ZEDEDA said it will use the latest round of funding to support its expanding customer base, accelerate research and development and expand its marketing and sales operations. The company added that the budding ecosystem around the industry’s first open orchestration solution has attracted strategic partnerships and integrations with Google, Microsoft, PTC, and SUSE.

Anvilogic bags $25m to modernise security operations

Anvilogic, a modern Security Operations Platform that brings a cloud-based security data lake to life, has raised $25m in Series B funding.

The round was led by Outpost Ventures, a Neuberger Berman fund, with participation from Xerox Ventures, G Squared, Foundation Capital, Point72 Ventures and Cervin Ventures.

Anvilogic is a cloud-based, modern, and automated Security Operations Center (SOC) platform. It enables security operations to function across on-prem, hybrid and multi-cloud workloads as well as security data lakes, while automating the majority of the traditional security workflows “detect, hunt, triage and response” all in a single platform.

This funding round brings Anvilogic’s total funding to $40m.

Anvilogic raised $10m in its Series A funding round in May last year.

Genesis Global collects fresh funding just months after $200m round

Low-code application development platform Genesis Global has received a $20m investment from Bank of America, BNY Mellon and Citi.

These strategic investments come months after it closed a $200m Series C funding round earlier in the year.

Financial services firms use Genesis across the software value chain to automate spreadsheet processes, enhance existing systems, replace legacy technology and build new, robust first-time applications.

Last year, Genesis tripled its revenue and the size of its team.

Tax compliance software Fonoa closes Series B

Fonoa, which helps automate tax processes, has closed its Series B funding round as it looks to expand its global tax solutions.

Coatue serves as the lead investor, with contributions also coming from Dawn Capital, Index Ventures, OMERS Ventures, FJ Labs and Moving Capital.

With the capital, Fonoa plans to improve the features of its product and bolster its global expansion efforts. It is looking to launch new products over the next 12 to 18 months.

As part of this expansion drive, Fonoa plans to increase its headcount by five-times in the last 12 months to 110 employees across 20 countries and 35 nationalities.

The company has experienced a strong period of growth, including a seven-times revenue rise in 2021.

Fonoa was founded by three Uber alumni, Davor Tremac, Filip Sturman, Ivan Ivankovic who had first-hand experience on how difficult it is to correctly calculate and report taxes to authorities across the world.

The company claims that existing tax software solutions are not designed for the modern world and require armies of implementation consultants on projects that could take many months to complete. Fonoa was created as a plug-and-play platform that allows customers to automate all relevant aspects to ensure compliance globally.

It claims Fonoa is the first digital tax solution with global coverage. Its API solution can determine and calculate the right amount of tax a business should pay in the right place. Its clients include Uber, Zoom, Booking.com, Spotify, Teachable and Remote.com.

This funding round comes just six months after Fonoa closed its Series A round on $20m.

Pakistani FinTech Dbank scores $17.6m

Dbank, a company focused on democratising financial services, has raised $17.6m in a seed funding round co-led by Kleiner Perkins and Sequoia Southeast Asia.

The round also saw participation from Nubank, Askari Bank, Rayn and RTP Global. Dbank was founded by two former staffers at technology giant Google.

According to Finextra, while details on products and launch timelines are scant, the company has applied for a digital retail bank license in Pakistan and has set its sights on bringing financial services to underbanked people across the pan-Islamic world.

The firm was founded by Tania Aidrus and Khurram Jamali. The former spent over a decade at Google focused on helping move economies from cash to digital, while the latter was a former head of partnerships for payments across the net billion users markets for Google.

PropTech Latchel scores $16.7m

Latchel, a property management platform modernising maintenance operations and resident amenities, has raised $16.7m in Series A funding.

The round was led by F-Prime Capital with participation from RiverPark Ventures and existing investors, MetaProp, Bain Capital Ventures, 1984 Ventures, and Hack VC.

Latchel’s plug and play maintenance operations and virtual resident amenity platform aim to simplify property management. Through the platform, property managers can offer their residents a full suite of benefits that elevate the rental experience through Latchel’s partners, such as cashback on rent, insurance policies (rental, auto, pet, etc), and resident caused damages.

The company also recently implemented FinTech into their product with a Vendor Pay feature, allowing property managers to easily manage and automate invoicing for service providers.

Latchel said it will use the capital to accelerate product development, deepen third party property management integrations, and expand platform customisability across maintenance automation solutions so any property manager can enhance resident service levels and reduce their operating cost.

Global banking connector FinLync signs strategic partnership with Workday Ventures

Topl bags $15m

Topl, which developed blockchain built to drive impact initiatives and sustainable transformation for companies across the world, has raised $15m in Series A funding.

The round was co-led by Mercury, Republic Asia and Cryptology Asset Group.

Founded in 2017, Topl is a technology company developing a purpose-built blockchain ecosystem to empower businesses and individuals to unlock the value of their positive impact.

Topl said corporations are undergoing a ‘massive transformation’ as they adapt their operations towards a sustainably inclusive, decarbonised, energy-efficient future. The company said its blockchain facilitates this transformation across value chains by providing organisations with an affordable, user-friendly, and tangible way to track, tokenise and transact their impact and sustainable initiatives.

The funding follows Topl’s recent announcement of its inaugural grant programme to fund Web3 startups and developers building inclusive and sustainable transformation across supply chains and markets.

Pogo secures $14.8m

Pogo, a New York-based financial health app empowering consumers to harness their data for their own benefit, has raised $14.8m in funding.

The funding included a $12.3m seed round led by Josh Buckley and a previously unannounced $2.5m pre-seed round. Other backers include Slow Ventures, Village Global, Mantis, Harry Stebbing’s 20VC, MrBeast’s Night Ventures, Hyper, Shrug and over 100 top founders, operators and creators.

Pogo wants to position itself as consumers “digital agent.” The app works by syncing with the consumers’ data, and using that to help them discover new ways to earn and save money.

For example, after linking your purchase data, Pogo will tell you if you’re overpaying on auto insurance and how to get a better deal. The company said its users save an average of $650 per year on auto insurance.

Pogo is built on the belief that consumers should be able to put their own data to work for their own benefit, in a world where corporations are benefitting from such data.

Dental-focused InsurTech Bento closes Series A on $8.1m

Bento, which aims to transform the traditional dental insurance industry, has collected $8.1m in its Series A funding round.

Boston-based Schooner Capital served as the lead investors, additional participation coming from York IE Capital and existing investor Companyon Ventures.

With the funds, the company plans to expand its nationwide sales and ensure patients can receive the right oral health care with full transparency in pricing, anytime and anywhere.

The InsurTech company provides a technology-powered platform that connects consumers, employers and associations with dentists and dental service organisations to give better oral benefits without the need of complex traditional insurance processes and overhead.

It claims to be the only dental benefits solution of its kind to be endorsed by the American Dental Association.

Bento’s platform is currently used by around 100,000 dentists in the US and has 36,000 access points.

Data protection platform Sotero extends seed round by $8m

Data security platform Sotero has raised $8m in a seed extension round, which brings the round’s total to $13m.

The round was led by Israel-based venture firm OurCrowd, with commitments also coming from Gutbrain Ventures, PBJ Capital and Boston Seed Capital.

Sotero hopes to leverage OurCrowd’s mentorship, industry advisors and multinational partnerships. By doing this, it hopes it can unlock significant growth in the US data security market, further the development of its technology and more.

Sotero claims to be reshaping the data security market with the industry’s first data-focused security platform. Its data-centred solution consolidates all data instances, applications and security point solutions into one easy-to-manage platform that offers full visibility, governance and auditability of data assets.

It claims to give organisations a scalable and flexible data security solution that migrates and moves data securely. Organisations get full control over their data privacy, compliance, audibility and governance.

Reserv exits stealth with $8m for claims innovation

Reserv, a third party administrator (TPA) that is looking to reinvent insurance claims, has exited stealth with $8m in seed funding.

The seed round was led by Altai Ventures and Bain Capital Ventures. The round also saw participation from Arch Capital Group, AXIS Capital, Runyon, and select industry angels, including Rick Taketa (former CEO of York), Jon McNeill (founder of TrueMotion and former COO of Lyft), and Ahmed Khaishgi (founder of SquareTrade).

Reserv has set out to establish “the new industry standard” for adjusters, TPAs, and technology providers, by optimising property & casualty claims.

Carriers, MGAs, self-insureds, or any other claims organisation can onboard Reserv following their standard TPA approval process. Reserv’s technology combined with its customer service then creates a unique claims experience and provides real-time status, metrics, and reporting to everyone involved.

Digital asset firm Atato snares $6m in 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.

The company claims it has a custodial solution that goes beyond enabling institutions to securely manage their digital assets by combining enterprise-grade security with MPC technology and customisable roles and transaction policies. This, Atato claims, reduces the traditional risk of private seed phrase/key management and addresses the risks of human failure or misconduct.

Atato claims it is the first custodian globally to offer services like Bring Your Own Chain/Bring Your Own Token capabilities.

API security startup Impart Security closes seed round on $6m

API security platform Impart Security has reportedly collected $6m in its seed funding round.

Early-stage venture capital firm Charles River Ventures (CRV) served as the lead investor, with commitments also coming from Haystack, 8-bit Capital and AlphaTech Ventures, according to a report from Venture Beat.

Impart claims to offer instant protection for APIs and microservices, offering threat detection, automated API discovery and run time protection.

Clients can find all the APIs in their environment within minutes and compare them with API specifications. It claims businesses can see shadow, zombie, non-conforming, and sensitive data API endpoints across any tech stack and any environment.

Portuguese FinTech Goparity lands €1.2m

Goparity, an impact finance platform, has reached the target of €1.2m in an equity crowdfund, with the community still invited to become a shareholder.

The round was headed by Mustard Seed Maze. According to Gopairty, the €1.2m was the initial goal, however it has increased this amount based on demand and is accepting overfunding.

Goparity is an impact finance and investment platform that empowers people and companies to use their money for good. Its community “which numbers 24,000 users” has already funded 200 impact projects in several countries globally.

The company claims its mission is to “democratise sustainable finance”. By inviting customers and partners to become shareholders and have a say in the future of the business, the firm claims to lead by example.

Following the launch of its new app last month, Goparity now intends to invest in expanding across Europe and Canada and in developing the product by adding new ways to save money and invest.

To achieve this, the company plans to grow its team and is hiring for marketing, development, risk and operations.

Healthcare PayTech solution PayGround nets $5.5m

PayGround, which helps people pay medical bills online, has closed its latest funding round on $5.5m as it looks to launch new marketing campaigns.

The round was led by FCA Venture Partners and Lewis & Clark Ventures, with commitments also coming from Triventures and unnamed angel investors.

In addition to marketing efforts, PayGround will use the funds to enhance its platform’s features.

PayGround enables patients to manage bills from all providers in a single platform. Its platform removes the complexities of paying medical bills by providing multiple payment methods that fulfil that responsibility, which is done through the PayGround Digital Wallet.

Embedded InsurTech Mulberri bags $4m

Mulberri, the embedded business insurance platform for professional employer organisations (PEOs) and brokers, has raised $4m in seed funding.

The round was led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio).

According to Mulberri, the process of buying, selling and managing business insurance is complex and is becoming too slow, bogged down by manual workflows, archaic processes and low-tech solutions. Mulberri wants to change this.

Launched in 2021, the company’s solution is purpose-built for PEOs and brokers to enable them to come together to write business and help them make intelligent data-driven decisions. The platform provides smart submission intake, automated quote and bind, data-driven insurance management.

Mulberri said its platform also optimises business workflows, speeds up client acquisition and provides risk analytics by integrating with multiple systems such as HRIS, Payroll and others.

Brazil loan marketplace FinanZero closes $4m round

Brazil-based online credit marketplace FinanZero has closed its fourth round of funding on $4m.

Swedish investors VEF, Dunross & Co, Atlant Fonder and Webrock Ventures served as the lead investors. Previous backers of FinanZero also joined the fresh capital injection.

With the funds, the company hopes to expand its position in Brazil. It also hopes to bolster its product development efforts and deepen its integration with bank partners.

FinanZero was founded by Swedish-Brazilian investment firm Webrock Ventures and Swedish entrepreneurs Olle Wid and Kristian Jakobsson.

Its mission is to empower consumers to choose the loan that best meets their financial needs, by comparing offers from a network of 60 lenders.

IDEAL lands funding to make mortgage applications “as easy as ordering lunch”

Jakarta-based digital mortgage platform IDEAL has raised $3.8m in a pre-seed funding round.

According to a report by The Business Times, the round was co-led by Indonesia’s AC Ventures and Alpha JWC, with participation also from Living Lab Ventures, and property player Ciputra Group.

Ideal’s platform helps users calculate the costs and instalments in mortgages and to apply to multiple banks with a single set of data, instead of having to approach mortgage providers individually.

The startup said it will use the funding to develop its products, hire new talent, and expand its coverage from primary properties to secondary properties and mortgage refinancing. It also hopes to expand into other big-ticket consumer loans and enter new South-east Asian markets.

Last month the startup launched a digital aggregator platform.

The mortgage market is fraught with frictions. Another company looking to take this on, is Tomo, which raised $40m in Series A funding earlier this year.

Crypso pulls in $3m seed funding

Crypso, a community-led investing platform for crypto, has raised $3m in a seed financing round headed by Hashed Emergent.

Also taking part in the round were Athera Venture Partners, Better Capital and Whiteboard Capital. Angel investors such as Kunal Shah, Sandeep Nailwal and Jaynti Kanani also took part.

According to Entrackr, Crypso is a social trading application that solves for underserved community behaviour. Users are able to see the portfolio and trading strategies of their peers and influencers, join community group chats, share their portfolio with communities for feedback and execute trades based on social signals.

The company claims it has 50,000 registered users on the platform and it aims to hit one million users in the next year.

The funding will be used to grow its user base and increase the breadth of product offerings and technology.

Guava bags $2.4m from funding round

Guava, a banking and networking platform for black entrepreneurs, creators, and small business owners, has secured $2.4m from a funding round.

The round was headed by Heron Rock and saw participation from Precursor Ventures, Backstage Capital, Ruthless for Good Fund and investors Ed Zimmerman and Lexi Reese.

Guava offers digital banking services and a community platform built to address the specific needs of Black entrepreneurs.

The company was recently selected to join Mastercard’s Smart Path startup engagement program and was also named first-place winner of the NYC Recovery Challenge, which is a partnership with Google, Cornell and Tech: NYC to support firms that address underlying issues and provide equitable and sustainable growth through innovation.

CrediLinq lands funding for the future of B2B payments

Singapore-based CrediLinq, an artificial intelligence (AI) and machine-learning credit underwriting firm, has raised $2.6 million.

According to a report from Technode, the funding was co-led by 1982 Ventures and White Venture Capital.

The round also saw participation from 500 Global, Sequoia Sprouts, Arkana Ventures, GK Plug and Play Indonesia, Sketchnote Partners, Boleh Ventures and EPIC Angels.

Established in 2021, CrediLinq’s goals is to create a more inclusive, accessible, digital-first and frictionless customer experience where every business can get quicker access to growth capital.

The company said its proprietary technology enables its ecosystems partners to become lenders and facilitate products including B2B BNPL and GMV financing for their clients.

CrediLinq said it will use the new funding to accelerate product development, enter new markets, and expand its team to support their growing client base.

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