Fintech funding round-up: 14 March 2017
Life needs less noise. So here words are destroyed. A round-up of key events in fintech funding. Featuring Autobooks, University of British Columbia, Scotiabank and more.
Michigan-based start-up Autobooks has raised $5.5 million in funding. This follows an earlier $2 million seed funding round. Draper Triangle Ventures led the latest round and was joined by Michigan Credit Union League.
Autobooks says it is the “first” fully integrated payment and accounting software. It works together with the online bill pay function and the firm licenses its software to banks.
Over in Israel, Dyadic Security, a software-defined cryptography firm, has completed a $12 million series B funding round led by Goldman Sachs Principal Strategic Investments, Citi Ventures and Eric Schmidt’s Innovation Endeavors. The funding round will be used to expand Dyadic’s sales and marketing operations in North America. As part of the investment, Innovation Endeavors’ Yuval Shachar has been named chairman of the Dyadic board of directors.
Dyadic says its virtual hardware security module (vHSM) enables enterprises to shift away from their reliance on dedicated secure hardware such as HSMs, smartcards and hardware tokens, to virtual modules that allow them to store, manage and use their cryptographic keys on any platform.
Are you still paying attention class? The University of British Columbia in Canada has got a $2-million donation from Scotiabank for its cybersecurity and financial risk research.
Over the next five years, the Scotiabank Cybersecurity and Risk Analytics Initiative will support research and educational initiatives, including internships, speaker series, engagement activities like hackathons, and other events to advance the understanding of the impacts of cyberattacks and refine risk management tools.
London-based FeedStock, an information management platform, has received an undisclosed investment sum from Illuminate Financial Management (IFM). The latter says it had been seeking a company to address the Markets in Financial Instruments Directive (MiFID) II regulatory environment around research.
FeedStock filters, categorises and tracks investor research using artificial intelligence (AI) software, which can be embedded into its clients’ internal systems.