Rapyd raises US$300 million in Series D round
Rapyd – a Fintech as a Service company recently announced a $300 million Series D financing round. This round was led by Coatue with other new investors such as Spark Capital, Avid Ventures, FJ Labs, and Latitude, along with further investment from current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital participating. Financing from this round will be used to grow the company’s presence across Asia, expand payments capabilities in the region and also target strategic acquisitions complementing Rapyd’s existing solutions. Arik Shtilman, co-founder and CEO of Rapyd remarked, “To kick off 2021 with this substantial round of funding to further invest in our platform is a tremendous vote of confidence both in the growing need for local payment solutions that can be deployed at scale globally, and more specifically in our vision and company.”
Brigit raises US$35 million in Series A round
Brigit – a financial health app recently announced a $35 million Series A round of funding. The round was led by Lightspeed Venture Partners, with participation from DCM, Nyca, Canaan, DN Capital, CRV, Core Innovation Capital, Shasta, Hummingbird, Abstract, Brooklyn Bridge Ventures, Secocha, Sound Ventures, and Flourish Ventures. Brigit aim to ease financial stress by creating simple and transparent financial products which put money back in the hands of their members, help them spend wisely, and avoid unfair fees.
Trovata raises US$20 million in Series A round
Trovata – a banking technology aimed at automating cash management recently announced it has raised $20 million in a series A round. This round was led by Wells Fargo Strategic Capital with other investors such as Capital One Ventures and Pivot Investment Partners, as well as existing early investors JPMorgan and Fintop Capital joined the round. Investment from this round will be used to deliver new services, accelerate multi-bank APIs globally, and add more bank distribution partners. Trovata founder and CEO Brett Turner commented, “The pandemic has spurned the need for better cash visibility, bank data in real time, and more proactive cash forecasting. Companies growing and contracting are in need of these things which have only accelerated interest.”
Melio raises US$110 million on a US$1.3 bn valuation
Melio – a B2B payments outfit focused on catering to small businesses recently announced joined the unicorn club after receiving US$110 million in funding. The round was led by Coatue and joined by Accel, Aleph, Bessemer Venture Partners, Corner Ventures, General Catalyst, and Latitude. Matan Bar, CEO of Melio remarked, “Payments are contextual and they want to enable a quicker way to get there. The SMB is underserved. And yes, from a unit economics it’s much better to go after Nike. But this is also to really create some financial inclusion. We want to enable services for the small shop that the big guys already have.”