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and fintech futureswe know that in this fast-paced industry, it can be easy to miss a funding announcement. If you miss it (ICYMI) A fundraising roundup to get the latest fundraising news.
Fintech startup based in Hong Kong K-pay Raised $10 million In a funding round with the backing of the founders.
Founded in 2020, KPay provides a ‘one-stop-shop’ digital payment and business management solution for small and medium businesses (MSMEs).
KPay will use the funds raised to support product development and geographic expansion, and is actively preparing for institutional funding.
It claims to attract over 12,000 local merchants across a variety of sectors including retail, food and beverage, beauty, healthcare, education and professional services.
Paytech in Malaysia Instapay technologythe issuer of e-wallets and Mastercard, $4.75 million In a Series A funding round.
The round was led by Daiwa ACA APAC Growth I with participation from Spiral Ventures Asia Fund I and existing investors.
Two years ago, Instapay launched its market operations in Malaysia as a bank alternative for low-income workers, offering e-wallet and Mastercard services as a payroll solution for unbanked migrant workers.
The company has now grown to serve hundreds of corporate migrant worker payroll accounts and a large retail customer base. It allows companies to pay salaries digitally to an employee’s Instapay e-wallet.
Users can also take advantage of digital cross-border money transfers, bill payments, mobile top ups, and ATM cash withdrawals.
Rajnish Kumar, co-founder and CEO of Instapay Technologies, said the new funding will allow the company to expand into new markets in Southeast Asia and the Middle East.
UK based banking start-up frost Raised 1.1 million pounds in a seed funding round.
Osun Capital led the funding and the company’s Managing Director Andrew Jennings joined Frost as Chief Strategy Officer.
With this new funding, Frost aims to launch new features and improvements, including adding Google Pay as a payment method, video verification for onboarding, and hiring developers and support staff.
Frost also aims to launch a “greener initiative” to reach its net zero goal.
Fintech in Uganda Numida Raised $12.3 million In a pre-Series A funding round.
Numida Raises $12.3 Million
Serena Ventures led the $7.3 million equity portion of the round, with participation from Breega, 4Di Capital, Launch Africa, Soma Capital and Y Combinator. All of these companies are making their first Ugandan investments, as well as an existing investor, his MFS Africa.
Numinda also received $5 million in debt from Lendable Asset Management.
With this new funding, Numida aims to strengthen its presence in Uganda and expand into two new African markets.
Founded in 2016, Numida provides unsecured working capital loans to micro, small and medium enterprises in Africa using a unique credit model and technology-powered underwriting process.
Instead of borrowing from informal lenders or family members, business owners download the Numida app, apply in minutes, and receive funds within a day, says the fintech firm.
Fintech company in Australia 3 days (previously called Thrive) procured 6 million AUD In a pre-series A funding round led by NAB Ventures.
Existing investor Lempriere Capital also participated in the round. With the new cash, Suriday aims to expand its platform, claiming it already has more than 11,000 businesses on its waiting list.
Founded in 2019 and based in Melbourne, Thriday provides a financial management platform that enables small businesses to manage their transactions, accounting and taxes.
Fintech in Scotland guide raised around 200,000 From existing investors and three new leaders to the team.
Guiide has hired two new directors. Clare Hawkins, the former Chief Executive of the NHS Trust and head of governance, and his financial system developer girlfriend Stewart Lawrie. Mike Robins, a former 3i partner who joined the company as an advisor, said:
This funding will be used to support two new initiatives: Guiide+ and Guide.auto.
The upcoming Guiide+ will be added to the company’s free online services for registered users. This will allow for “a complete retirement dashboard that shows the real-time value of your personal pension, and all other sources of income and savings.”
Guiide.auto allows individuals to monitor, track and adjust plans and add elements of guaranteed income paid into pension pots if desired, but retains all flexibility of drawdown To do.
Built between 2016 and 2019, Guiide is a free retirement calculator that allows people to “create their own personalized plan and avoid running out of money, overpaying fees or taxes when they retire.” I can.
