FinTech startup troy successfully completes Series A financing round
FinTech startup troy, which specializes in customer-friendly debt collection, has successfully completed its second round of financing, raising a medium-sized seven-digit amount. troy completed the funding round with the help of four new investors: eCAPITAL, BORN2GROW, Avala Capital and Seed X Liechtenstein AG. Also, all existing investors have re-invested. The former lead investor, HTGF High-Tech-Gründerfonds, has even increased its previous investment. troy is changing the debt collection industry by optimizing the customer experience, using tools and methods from marketing and CRM combined with data and machine learning. troy was founded in 2017 by Philip Rürup and Till Völzke in Lippstadt and was officially launched in September 2018. Representing troy’s rapidly […]
European Fintech investment surpassed Asia
Fintech is Europe’s largest venture capital (VC) investment category, receiving 20% of all VC investment in the region between 2017 and 2019 year-to-date (YTD), surpassing enterprise software (17%), health (13%) and transportation (8%), according to the State of European Fintech 2019 report by Dealroom, in partnership with Finch Capital. In Europe, fintech investment is gaining momentum, outperforming Asia for the first time since 2015 with US$5.1 billion raised by European fintechs in H1 2019, against US$2.2 billion for Asian fintechs. European challenger banks and payments companies have raised the largest chunk, with both categories raising EUR 2.4 billion in 2019 so far. Lending and mortgage and wealthtech are two other […]
Fintech leads the way as Irish VC deals hit $185m in Q3
A global survey of venture capital financing has found that the Irish fintech (financial technology) sector led the way, as Irish companies secured more than $185 million (€166 million) in VC funding in the third quarter of the year. KPMG’s Venture Pulse survey tracked more than 4,100 VC funding deals globally between July and September, totalling more than $55.7 billion. So far this year, at least $28.7 billion worth of VC deals were in Europe, which set a quarterly record in Q3 with almost $10 billion of deals. Globally, quarterly VC funding dropped by 14 per cent from almost $65 billion. In Ireland, the funding raised was spread over 22 […]
Big VC deals will delay Mexico’s first Fintech IPO
No need for startups to hurry into the public market when giants like SoftBank and General Atlantic are pumping in private capital. Investments in Mexican fintechs by large firms such as SoftBank and General Atlantic have added liquidity to the market and will likely delay the sector’s first initial public offering, two industry executives and a sector lawyer tell Mergermarket. SoftBank, the Japanese conglomerate, in March launched a $5 billion fund to invest in technology startups across Latin America. A month later, it invested $1 billion in Colombian on-demand delivery startup Rappi, and in May it poured $20 million into PayClip, Mexico’s leading online payment processor by number of clients, […]
P2P lender KoinWorks bags $1.4m from Japan’s Saison Capital
Indonesian peer-to-peer lending platform KoinWorks has received around US$1.4 million in additional funding from Saison Capital, the venture arm of Japanese financial services firm Credit Saison, as part of its series B round. The new funds bring KoinWorks’ total series B and B2 raise to about US$13.6 million. It raised US$12.2 million in June in a round led by fintech-focused venture capital firm Quona Capital and Singapore’s EV Growth. Founded in 2016, the company connects investors with borrowers through its platform, providing small and medium-sized enterprises (SMEs) with an alternative to traditional financial institutions. KoinWorks plans to use the fresh funds to develop new financial products to support digital SMEs, […]
Amica Financial Technologies raises $24 million in funding
Amica Financial Technologies, an upcoming digital retail bank founded by Citrus Pay cofounder Jitendra Gupta, has received $24 million in its maiden funding round. The funding is backed by a long list of institutional investors including Greyhound Capital, 3One4 Capital, Germany’s Rocket Internet, venture capital funds Matrix Partners and Sequoia Capital. Gupta, a former PayU India managing director, is among a growing tribe of second-time entrepreneurs who have attracted big bucks from marquee investors even before officially launching their companies. The Mumbai-based startup, which Gupta cofounded along with Vishnu Jerome of law firm Jerome Merchant and Partners, has also brought on board a host of angel investors. To read more, […]
Stockholm-based fintech startup Dreams raises €9 million to help millenials fulfill their financial ‘dreams’
Stockholm-based fintech startup Dreams has raised €9 million in a late seed round. The investor pool includes AXA Investment Managers (AXA IM), the Norwegian insurance company Storebrand, Finnish Ålandsbanken and a group of private investors. Dreams helps its users fulfill their financial goals through a user-friendly mobile app using behavioural science. Launched in 2016, Dreams’ key commercial offering is a digital product platform for financial services, with a focus on financial well-being. The platform is particularly focused on serving millennials. Dreams helps its users to fulfill their financial ‘dreams’ through its user-friendly mobile app. What differentiates Dreams from other fintech apps is its deep application of behavioural science in its methodology and […]
US FinTech West Creek nabs $150 mn from Pollen Street Capital
West Creek, a Virginia-based FinTech firm has raised $150 million from Pollen Street Capital, bringing the company’s total raised capital to $250 million. The company claims a revenue growth of over 4,400% since 2015 and expects to surpass $200 million by the end of 2019. West Creek plans to expand its point-of-sale (PoS) financing offering with the new funds, according to a statement Rajesh Rao, chief financial officer, and chief risk officer at West Creek stated that the company plans to deliver an improved financing experience to its retail partners and customers through a combination of customer support, technology, and data-science-driven credit decisions. Founded in 2014, West Creek helps consumers make […]
