While there weren’t any mega rounds this past week, the funding for fintech is still trickling in—also Beyoncé became a tech investor, so maybe she needs a payment company; keep hope alive—and investors are still putting their money into the different areas of the industry, like specialized payment platforms, blockchain, and more. This brings us to our top fintech rounds of the week:
Known as the leading payments network for healthcare services, according to Crunchbase, the company aims to make payments in this space easier by offering a cloud-based, more secure method to its users, and has just raised $50 million in venture funding to further develop its platform. Combined with the company’s last funding rounds—of which there are sixteen, the last on December 2014 for $17 million—the company’s total funding now amounts to $129.2 million. Only one investor participated in this last round, the firm Carrick Capital Partners.
A San Diego-based company which aims to streamline SaaS for treasury departments, Kyriba just raised $23 million in a Series D, bringing its total funding up to $107.5 million in nine rounds — the company has been active since 2000. The company creates solutions specifically for treasury management, enabling those departments to better plan for factors like market volatility and to better protect against fraud. Six investors took part in this last round of funding, with the lead investor being Bpifrance.
French P2P startup Lydia, a company that enables P2P payments for its French users, similar to Venmo, has just raised about $7.8 million—or €7 million—in its newest funding round, which is reportedly earmarked for expansion to countries other than its native France. The company, which currently has 500,000 users in its home territory, seeks to launch its product in Germany, Spain, and the United Kingdom in the first half of 2017; Lydia is also aiming to grow its user base to 3 million in two years’ time. Venmo aside, the app’s competition in Europe includes the U.K.’s own P2P payment app Revolut and German app Cookies—whose design allows users to bring emojis in the mix.
Aaaaaaand—blockchain! As might be clear from the name (it has ‘chain’ in it, at least), this startup is all about blockchain technology—specifically, the startup wants to attempt to scale blockchain for enterprise use, and has just raised around $3.37 million—or around €3 million; the company is based in Berlin—in a Series A to do just that. According to Coindesk, the company currently generates most of its profits through consulting and building proof-of-concepts for third-party companies, but eventually hopes to profit from, as stated by the company’s founder Bruce Pon, “starting with existing database infrastructure and blockchainifying it.” We’ll just…go and process that, as the week progresses.
In other fintech funding news, P2P mobile payments startup Remitly also raised $38 million in funding; more to come on that soon!
To learn more about fintech funding, join us at Bank Innovation Israel in Tel Aviv on Nov. 1-3. Register here.Like This Post