Financing Rounds in FinTech: Best of June 2023

June 2023 witnessed a flurry of exciting developments in the FinTech world, with several companies securing significant funding rounds. These investments highlight the industry’s potential and the growing interest of investors in innovative financial technologies. In this article, we will delve into the best financing rounds in FinTech for June 2023, showcasing the companies that have attracted substantial investments and are poised for future growth.

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Some of the best financing rounds in FinTech for June 202

1. Flatpay: Streamlining Card Payments for SMEs

Danish paytech startup Flatpay secured an impressive €15 million in a Series A funding round, enabling the company’s expansion in Denmark, Finland, and Germany. Flatpay offers small and medium-sized businesses a simplified and transparent pricing model for card payments, eliminating hidden costs and fees. With its new funding, Flatpay aims to further enhance its product development and establish a stronger foothold in the European market.

 

2. Maza: FinTech Solutions for Immigrants

Maza, a US-based FinTech company targeting immigrants, raised $8 million in seed funding led by Andreessen Horowitz. Maza’s comprehensive platform offers immigrants a US tax presence, a US Tax ID, and a bank account, facilitating payments, tax filing, credit access, and wealth-building. With partnerships with Visa and Blue Ridge Bank, Maza enables customers to develop credit history and gain access to loans, even without social security numbers. The investment will support Maza’s growth and expansion plans, catering to the unique financial needs of the immigrant population.

 

3. Fennech: AI-driven Corporate Banking Platform

UK-based Fennech secured £2 million in seed funding from Lloyds Banking Group. Fennech leverages artificial intelligence (AI), machine learning, and cloud-based technology to automate finance, treasury, and payments processes for businesses. Their seamless platform enables customers to streamline accounts, payments, funding, and liquidity management across multiple banking partners. The funding will fuel Fennech’s product development, allowing them to further enhance their advanced technology and digitalization.

 

4. Delega: Digitizing Bank Signatories Management

Swiss treasury management FinTech Delega raised £250,000 in a seed round led by Jenson Funding Partners. Delega’s solution fully digitizes bank signatories management, providing treasurers with instant access to signatory records and ensuring compliance with banks’ requirements. This investment will accelerate Delega’s development of a multi-bank tool, allowing for new features and integration with value-added services like e-signature.

 

5. Gr4vy: Orchestrating Cloud-Based Payments

Gr4vy, a cloud-native payments infrastructure company based in the US, received a substantial «multi-million dollar» investment from Woolworths Group’s venture capital arm, W23. Gr4vy’s cloud-based payments orchestration platform simplifies the building and management of payment ecosystems for merchants. With over 100 unique payment methods and anti-fraud providers available through a single integration, Gr4vy empowers businesses to scale their payments ecosystems and expand into new markets. The investment further strengthens Gr4vy’s partnership with Woolworths Group and supports its growth in Australia and the Asia Pacific region.

 

6. Neem: Empowering Underserved Communities with Embedded Finance

Pakistani embedded finance platform Neem secured an undisclosed investment from DNI Group as part of a strategic partnership. Neem’s financial infrastructure and Banking-as-a-Service (BaaS) capabilities enable digital platforms to provide embedded financial services to underserved customers. With the strategic investment and partnership, Neem aims to advance financial wellness in the country, particularly for underserved communities.

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7. Mypinpad: Mobile Card Payments and ID Authentication Solutions

Mypinpad raised $13 million in an investment round led by Crossfin Holdings. Mypinpad provides mobile card payments acceptance and ID authentication solutions globally, serving clients across more than 20 countries. The funding will accelerate Mypinpad’s growth, expand into new markets, and enhance their payments and authentication Software-as-a-Service (SaaS) offerings. Additionally, Mypinpad aims to forge new partnerships with Crossfin’s portfolio of companies, leveraging their synergies.

 

8. Navadhan: Bridging the Finance Gap in Rural India

Indian rural FinTech start-up Navadhan secured $1.5 million in a seed round co-led by Varanium NexGen and Anicut Capital, with participation from Gemba Capital. Navadhan aims to improve access to finance for underbanked households by bridging the gap between microfinance and traditional SME lenders in India. The funds raised will contribute to Navadhan’s platform expansion, enabling them to better serve their target market.

 

9. TransBnk: Transaction Banking for Corporate Clients

Indian FinTech start-up TransBnk raised $1 million in a seed round led by 8i Ventures. TransBnk operates a transaction banking platform that enables corporate, commercial, and institutional clients to make transactions through embedded finance and SaaS solutions. With the investment, TransBnk plans to strengthen its product and technical teams, enhance its technology, and expand its product line.

 

10. Parfin: Web3 Infrastructure for Latin American Financial Institutions

Brazilian Web3 infrastructure provider Parfin received a strategic investment from Accenture through Accenture Ventures, with the total sum undisclosed. Parfin offers digital asset custody, trading, tokenization, and management tools to some of Latin America’s largest financial institutions. The investment from Accenture will further support Parfin’s development of next-generation infrastructure for the global adoption of digital assets, expanding their solution offerings to clients in Latin America and beyond.

June 2023 showcased an impressive array of financing rounds in the FinTech industry, demonstrating the ongoing momentum and investor interest in disruptive financial technologies. These investments fuel the growth and innovation of FinTech companies worldwide, driving the industry forward.

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