Clik will use the capital to scale its product engineering and customer service teams. The post Cambodian fintech startup Clik closes $3.7m seed funding appeared first on DealStreetAsia.
Weaker Fintechs Face Crisis To Mature As Covid-19 Casts Shadow Over Funding | Business Standard News
Signs of stress among even relatively well established fintechs are starting to emerge, say analysts. : Iain Withers Anna Irrera & Tom Wilson | Reuters | London/New York Last Updated at July 29, 2020 13:55 IST Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it's a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. "It's definitely a bearish market" said Chakravarty, who is seeking funding for Project Imagine, the company behind his fintech ventures.
London-based startup TransferWise has boosted its valuation to $5 billion after concluding a $319 million secondary share sale. New investor D1 Capital Partners and existing shareholder Lone Pine Capital bought into the firm while existing shareholders Baillie Gifford, Fidelity Investments and LocalGlobe expanded their holdings in the fintech. "We're very happy to not have to raise every two to three years to keep the business alive," Matt Briers, TransferWise CFO told Business Insider in an interview.
TransferWise employees and early investors sold some of their stake in a $319 million secondary deal. : Fintech start-up TransferWise is now valued at $5 billion following a secondary share sale, the company announced Wednesday, highlighting increased investor appetite for online payments amid the coronavirus pandemic. Founded in 2011, TransferWise has become a formidable competitor to the likes of Western Union and MoneyGram by lowering fees and adding a slick online platform to help consumers move money across borders. It now has a total of 8 million customers globally and processes PS4 billion ($5.2 billion) in cross-border payments each month.
EMQ seeks to further expand its footprint across Asia, Europe and the Americas. The post Hong Kong-based fintech firm EMQ secures $20m in Series B round appeared first on DealStreetAsia.
Early stage investing is a risky market, especially when it comes to the startups going direct to the consumer, where customer acquisition is everything. But for all the risks the market poses, the rewards are high, too. Some of the biggest winners in the wake of the coronavirus have been fintechs addressing people's needs. Robinhood, which has seen massive growth as market volatility continues, is now valued at $8.3 billion after its most recent funding round in May. Meanwhile, other personal finance apps like Chime and Stash have also seen record sign-up numbers recently.
We asked some of the top fintech investors to recommend up-and-coming fintechs going direct to the consumer. Investors could nominate their own portfolio companies, as well as fintechs they haven't backed, with the caveat nominees couldn't have raised beyond a Series B round of funding. Investors' picks varied, but a central theme was personal finance, be it through automated saving, investing, or debt management. Here are the 22 up-and-coming consumer fintechs investors are watching. Visit Business Insider's homepage for more stories.
San Francisco-based startup Jirav raised $8.3 million for its cloud-based financial planning software. Founded in 2015, the company helps more than 1,400 customers monitor, analyze, and forecast their finances. The startup has 30 employees, including five people in Seattle. Information Venture Partners led the round, which included participation from Bend, Ore.-based Seven Peaks Ventures and others. Total funding to date is $13.6 million. "Good technology should remove friction and make our jobs easier. Jirav is doing that for finance," Tom Gonser, DocuSign co-founder and general partner at Seven Peaks.
Alibaba Entrepreneurs Fund Invests In Chinese Cross-border Fintech Firm Airwallex - China Money Network
Airwallex, a Hong Kong-based cross-border payment solution provider, announced that it has closed a series D+ fundraising round from Alibaba Entrepreneurs Fund. Airwallex claimed that Alibaba Entrepreneurs Fund will accelerate the company's expansion of products, service scale and ecosystem, especially business growth in the Greater China region. Started in 2015 by four Chinese founders in [...] Alibaba Entrepreneurs Fund Invests In Chinese Cross-Border Fintech Firm Airwallex comes from China Money Network: Primary Data for China's Primary Markets! All Rights Reserved.
FinTech funding had already seen a dip in Q1 this year, but the pandemic may be further suppressing investor appetite. A new report provided by Buy Shares found global FinTech funding was less than $4 billion during Q2, compared to about $5.8 billion raised in the Q1, according to Forrester. Several B2B FinTechs topped the [...]