This week’s FinTech Wire is full of impressive funding rounds, international acquisitions, exciting expansion plans, and an AI-powered investment app being the cherry on top. Sounds exciting? It totally does! So go ahead and learn about the latest achievements of Yapily, Soldo, Clim8, Bridgeweave, Zilch, and Solarisbank!
Weekly FinTech news digest: 20—26 July 2021
Yapily raises $51 million in Series B funding round
Banking API focusing on infrastructure
This London-based open banking outfit provides a unified open banking API. Currently, Yapily operates in eight countries, supporting over 1,500 banks. As the founder and CEO at Yapily, Stefano Vaccino, told Techcrunch, Yapily has between 90 and 99% coverage in the UK, France, Spain, Germany, Ireland, Austria, Italy, and the Netherlands.
The company states that they will use the new funds to continue investing in the UK, Italy, and Germany, but mainly to enter the next European markets, including Spain and France. Their further plans also cover expansion to Latin America in 2022.
Read more about open banking development services
Soldo closes $180m in Series C funding round
“To invest in our product and people”
It’s the next big step for this Dublin-based company, which closed $61 million in Series B funding in July 2019. The previous funds allowed Soldo to increase the number of employees in offices in London, Dublin, Rome, and Milan, while Series C will cover expansion to new markets.
Soldo created a pay and spend automation platform which businesses can use to handle their costs in real-time across all departments. “Managing business spend is costly and challenging, yet Soldo continues to demonstrate its value and ease to customers of every size and across every industry,” said Carlo Gualandri, CEO and Founder of Soldo.
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Clim8 raises £2.85 million from 1800 investors at Crowdcube
The third crowdfunding campaign overachieving the target
Within two years since its inception, Clim8 already ran three successful crowdfunding campaigns on Crowdcube, raising £10 million. The results of each campaign significantly exceeded the target – by 300% in the first and 500% in the second round.
The Clim8 Invest app was officially launched this year, and, according to Duncan Grierson, founder and CEO, it already attracted thousands of active users. The app allows investing in publicly listed companies and funds focused on fighting the climate crisis. As reported by Finextra, newly raised funds will be used for further app development and expansion of Clim8’s team.
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Bridgeweave launched an AI-powered investment app
Bringing Wall Street-level quant signals to Main Street
The app called InvestorAi helps self-directed investors make better investment decisions. It covers over 4,500 stocks and 1,500 ETFs and uses algorithms that process over 800 million calculations every day to create over 600 signals and ideas for investors. The algorithms adjust with time, becoming smarter and more personalized by learning from user behavior and market conditions.
“We are trying to fill the gap in investment information by providing DIY investors with the same high quality predictive market insights that top hedge fund managers and investment bankers have obtained from a team of Quants Research Analysts,” said founder and executive chairman of Bridgeweave, Akshaya Bhargava.
Read more about investments-oriented apps development
Zilch strikes another $110m funding in Series B
Plan: extend the team and expand to the US market
After launching a BNPL service called Tap & Pay-over-time earlier this year (and becoming the first company in the sector to do so), Zilch is not slowing down. Extending its Series B funding round, it just added another $110 million to previously raised $80 million, ending the round with an overall size of more than $200m.
“We’re delighted that well-respected institutions such as Goldman Sachs and share our vision of what credit should be in today’s world and how that can be delivered directly to customers in the most responsible way,” said Philip Belamant, the CEO and founder of Zilch.
Read more about the top buy now, pay later apps
Solarisbank buys Contis after raising EUR 190m in Series D
A good start to conquer Europe
Thanks to the successful funding round and acquisition of Contis, this Berlin-based banking-as-a-service platform will find its place in the UK with sights set on expansion to other countries. According to Finextra, Solarisbank already made a move into France, Italy, and Spain, but we can assume those are only mid-steps on its way to conquering Europe.
Ramin Niroumand, the chairman of the supervisory board at Solarisbank, comments on the acquisition: “The alliance of our companies follows a clear strategic rationale as the platforms complement each other perfectly. Together we will build an international powerhouse for Banking-as-a-Service.”
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