ICYMI funding round-up: RDC, Hokodo, TreasurySpring, Now & extra


At FinTech Futures, we all know that it may be straightforward to let funding bulletins slip you by on this fast-paced trade. That’s why we put collectively our weekly ‘In Case You Missed It’ (ICYMI) funding roundup so that you can get the most recent funding information.

Ada Guan, RDC CEO

Wealthy Knowledge Company (RDC), an AI-based credit score threat administration agency, has raised $15 million in a funding spherical that includes new investor BMY Group.

Funds raised will allow RDC to speed up its progress initiatives in Australia and offshore, together with into Asia, the US and Europe.

RDC co-founder and CEO Ada Guan says: “We’ve very robust demand from monetary companies corporations world wide who need to present extra entry to credit score that higher fits their debtors’ wants and propensity to pay.

“Our pipeline from well-known banks and different monetary companies corporations continues to quickly develop, underpinning our thrilling progress trajectory.”

Hokodo, a fintech servicing B2B retailers with immediate funds, has raised $12.5 million in a Collection A funding spherical.

The spherical was led by Mosaic Ventures and featured Notion Capital plus a handful of angel traders, together with Taavet Hinrikus, founding father of Sensible.

Based in 2018 by Richard Thornton, Louis Carbonnier and Sami Ben Hatit, Hokodo supplies B2B retailers with real-time commerce credit score options.

The agency says it has been designed particularly to take away the complexity and dangers related to providing credit score phrases on-line.

London-based TreasurySpring has raised $10 million in Collection A funding to construct out its fixed-term fund platform it claims is a “world first”.

The Collection A was co-led by MMC Ventures and Anthemis Group, with participation from present traders together with ETFS Capital.

Based in 2016 by long-term enterprise companions Kevin Prepare dinner, Matthew Longhurst and James Skillen, TreasurySpring’s FTF platform allows holders of huge money balances to “minimise threat and maximise returns”, offering “easy, digital entry” to a variety of proprietary money investments.

The financing spherical will assist the expansion of the workforce, with a specific give attention to gross sales and advertising and marketing.

Enterprise invoicing agency Now has raised $9.5 million in a Collection A funding spherical led by the Virgo Funding Group.

Now claims to have served over 1,000 small companies and processed over $700 million in transactions.

The agency plans to make use of its new capital to scale its choices and attain extra potential prospects.

German monetary advisory app wajve has nabbed €5 million in seed funding in a spherical led by EQT Ventures.

Wajve says it allows “wonderful monetary selections in seconds” for the youthful era, combining banking, monetary schooling and recommendation in a single app – with a particular give attention to Gen Z.

The funding can be used to speed up the roll-out of the platform, which has simply launched, for patrons in Germany earlier than increasing into different European markets.

“It’s our ambition to grow to be a trusted monetary advisor to Gen Z throughout Europe, supporting the following era to attain monetary stability and independence,” says CEO Bastian Krautwald.

Barry McCarthy, CEO of Guarantee Hedge

Irish international trade expertise agency Guarantee Hedge has closed a €5 million funding spherical to assist its plans for fast growth.

The funds can be used to rent new workers and to spend money on new product growth and channels to market.

Guarantee Hedge’s EZFX Dealer product supplies FX hedging quotations to SMEs with out the necessity to spend money on expertise or inner assets for advanced treasury administration.

A brand new product launch is focused for July, which is able to improve accessibility and broaden the vary of brokers and monetary intermediaries Guarantee Hedge can work with.

London-based fintech LemonEdge (previously LemonTree Software program) has secured funding of $2.5 million.

LemonEdge allows corporations within the personal fairness and monetary companies industries to digitise advanced accounting. It says many nonetheless run on previous, “insecure” legacy programs or spreadsheets.

LemonEdge’s low-code platform is totally customisable and automates the advanced and time consuming duties required for shadow accounting.

Gareth Hewitt, CEO, says: “LemonEdge’s low-code platform delivers the following era of personal fairness efficiency and accounting software program.”

ING has spun out its Software program-as-a-Service subsidiary Stemly, and helped it elevate $2.5 million.

One of many first initiatives to be incubated in ING Labs Singapore in 2018, Stemly was created to deal with the hole in resolution intelligence that exists in provide chain operations.

Powered by autonomous machine studying expertise, Stemly says it may possibly significantly improve the decision-making capabilities of enterprises by demystifying information science.

“Companies are challenged by the uncertainty in provide chains, the place demand and provide fluctuations have been amplified by the pandemic of late,” says co-founder Sanjay Saini.

“Stemly empowers managers to make higher and quicker selections in demand forecasting, stock optimisation and money circulate administration.”

Abhi, a Pakistani fintech geared toward serving to prospects borrow cash with out taking out loans, has raised $2 million in seed funding.

Abhi will use the funds to develop its platform’s expertise and enhance hiring, in addition to for advertising and marketing actions and different operational bills.

The agency is presently conducting a three-month pilot programme in Pakistan involving 20 corporations throughout a number of sectors.

Envel, a Boston-based fintech, has raised $2 million from practically 2,000 crowdfunding traders.

Envel is a cellular banking app with a Visa debit card that makes use of an automatic envelope system powered by AI.

“We’re completely thrilled to boost capital on this method, it’s nice validation that the general public imagine in our mission and we’re on the right track,” says Steve Le Roux, founder and CEO.

“It’s an incredible group to faucet into for constructive suggestions, all wanting to make use of our service and vested in our success.”

Associated: ICYMI funding round-up: Airtm, Cushon, Stake, Clim8, Nordigen & ikigai


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