Balance has received a $350M credit facility to offer B2B omnichannel instant payments. Viola Credit is providing the credit facility. More: - Balance offers three main finance-related products. The first is a software product that enables companies to process payments with credit cards, wire transfers, checks, and checkout.
- The company's second service allows businesses to choose the net payment period during which their clients get paid, helping them organize their finances and become more flexible with their cash flow.
- Third, Balance provides companies with instant-payment capabilities. All three of these services are offered on a unified platform.
- Founded in 2021, the company has grown its customer base 10x YoY. Some of the company's clients include Visa, Magento, Big Commerce, etc.
- This credit facility is issued following Balance's $56M Series B financing round, which Forerunner, a San Francisco-based VC firm, led.
- The company is based in New York City.
| |
VC firm Pact has launched a $36M fund led by Oscar-winning actress Anne Hathaway. The firm will focus its investment on early-stage startups in Europe. More: - The women-led firm was founded by three partners: Tong Gu, Reem Mobassaleh Wyndham, and Monik Pham.
- All three co-founders previously worked at international investment firms and have decades of combined experience in the field.
- Pact aims to invest in 18-20 startups annually, with an average check size of $1.2M to $1.7M.
- Its investment focus will be on economic inclusion, personal and professional well-being, and climate change solutions. Pact's thesis revolves around economic growth that is combined with inclusiveness.
- The firm has previously invested in companies such as Growth Kitchen, Clause, Onto, Perlego, and Yoco. These investments have spanned multiple continents and verticals.
- The company also has a successful exit with portfolio company Clause being purchased by DocuSign.
- Investors include Campden Hill Capital, Jeff Dean, Keith Teare, Yeming Wang, Fahd Beg, Todd Ruppert, Tilo Bonow, Anne Hathaway and others.
- The VC firm is based in London, U.K.
| |
Temedica has raised a $26M Series B extension to provide GDPR-compliant personalized health recommendations. MIG Capital and an undisclosed family office in Munich, Germany, led the round. More: - Temedica uses its access to over 40 billion data points to create individual health recommendations for over 50,000 diagnoses. Its solution provides clients with reports on disease progression, treatment effectiveness, patient journeys, and medication adherence.
- The Munich-based company believes that its platform named Permea will become an indispensable tool for the pharmaceutical industry, providing them with a higher degree of detail on diagnoses and conditions than previously possible
- Temedica can also offer its vast amount of data to healthcare professionals, insurance companies, research institutions, biotech research companies, and patients.
- The company claims to provide industry-leading data access without compromising GDPR standards.
- In addition to Permea, the company offers a suite of healthcare products that aim to tackle multiple verticals. These apps include Pelvina, a training platform for women to train the pelvic floor; Mineo, a back training program; and Waya, a weight loss app.
- Temedica has raised a total of $43M in funding since its first round in 2016. Backers include the founding investors of BioNtech.
| |
Y-Combinator member Djamo has raised a $14M funding round to offer mobile banking to Francophone African countries. The company has grown its user base 5x YoY, reaching 500k users. More: - Djamo is an Ivory-Coast-based company that offers numerous fintech products, including a debit card recognized by e-commerce vendors, enabling customers to make e-commerce purchases, software that allows users to receive their salary, peer-to-peer money transfers and a financial planning program amongst other services.
- Djamo's software enables interoperability between banks and mobile money, making it easy for its users to transfer funds back and forth from their bank accounts to their mobile money wallets.
- 60% of Djamo users have never used a Visa debit card before using the app, and less than 25% of adults in French-speaking markets have a bank account, meaning that the company has a significant market opportunity.
- Since its inception in 2019, Djamo has processed over $400M worth of payments, a sign it has already gained momentum in the market.
- The company claims its revenue is growing 20% per month.
- Enza Capital, Oikocredit, and Partech Africa led the funding round, with participation from Jango Capital, P1 Ventures, Axian, and Launch Africa.
- Djamo is the first-ever startup from the Ivory Coast to be accepted into Y-Combinator.
| |
Today's funding 💵 Hardware - KaiOS (Hong Kong), builds affordable mobile devices with access to the internet and apps: $3.4M Growth led by Finnfund.
Fintech - Pivo (Nigeria), a fintech platform that provides loans worth up to $50k for SMEs in Nigeria: $2M Seed by Precursor Ventures, Y Combinator, Vested World, FoundersX, and Mercy Corp Ventures.
Mobility - Dat Bike (Vietnam), a company that designs and manufactures electric motorbikes: $8M Growth led by Jungle Ventures with participation from GSR Ventures, Delivery Hero Ventures, Wavemaker Partners, and Innoven Capital.
Venture Capital - Early light Ventures (Maryland), a VC firm that invests in cutting-edge software companies: $10.6M fund led by external investors.
Real estate tech - Wiseday Financial (Canada): enables fast-mortgage pre-approvals for Canadian home buyers: $5M Seed led by Havery Capital.
SaaS - Xceed (Spain), offers software that helps organizers reach more people for their events: $2.1M Growth led by Trind Ventures with participation from Best Nights VC, SuperHero Capital, and angel investors.
HR - Placed App (U.K.), a hiring platform that focuses on finding the best Gen Z talent: $4.1M Growth led by Praetura Ventures, and Blackfinch Ventures.
Web3/Crypto - Foresight Ventures (Singapore), a crypto-focused incubator and fund: $10M fund launch led by external investors.
| |
Quick Hits: - DUER's founder wanted pants that stretch "from bike lane to boardroom to an evening night out." Try the World's Most Comfortable Pants during Black Friday — shop up to 50% off sitewide.*
- Sequoia India led a $4.6M Seed round for RedBrick AI, a health-tech platform that uses Artificial Intelligence to build medical datasets.
- Sapia.ai (Australia), a platform aiming to improve diversity in the hiring process by providing actionable advice generated through AI, raised an $11M Series A co-led by Macquarie Capital and W23.
- UK-based enterprise productivity and efficiency company Surfboard has raised a $5M Seed round led by Speedinvest with participation from Nomad Capital Fly Ventures, Tokyo Black, Seedcamp, Jag Singh, and Foreword VC.
- Filu, a Munich, Germany-based pet care startup that aims to combine physical veterinary care with telemedicine, raised a $2M round led by Rivus Capital, with participation from Rivus, and Auxxo Female Catalyst Fund.
*This is sponsored content.
| |
Upcoming events at Inside:
| |
 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Liam Gill is a founder, lawyer and investor.
He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law in Vancouver, Canada.
| |
Comments
Post a Comment