Fintech funding round-up: 5 July 2017
Aw shucks, even more firms are getting big bucks. Following on from yesterday (4 July), here is another fintech funding round-up. Features Ohpen, MarketInvoice and Huddle Capital.
Cloud-based core banking provider Ohpen has secured a €15 million Series B investment round led by private equity firm Amerborgh. The current investment round values Ohpen at €100 million. The growth capital will be used to finance UK expansion and enter new unspecified markets.
Amsterdam-based Ohpen offers incumbent firms and new market entrants with a “bank-out-of-the-box” solution to fully outsource their operations. Earlier this year, it gained approval from the UK’s Financial Conduct Authority (FCA) to carry out its regulated activities under its new British company, Ohpen Operations UK. As reported in April, financial services provider Aegon partnered with Ohpen to develop a new platform for its Dutch services.
Now onto funding of a different nature. UK-based MarketInvoice, an online business finance company, has registered its “best quarter and record month” of invoice finance funding since launching in 2011.
The firm funded invoices worth £161.9 million in Q2 2017 providing UK businesses with working capital. The value of invoices funded is up 57.2% from £103 million in Q2 2016, and the current cumulative value of invoices funded stands at £1.34 billion.
Staying in the UK, new P2B lending platform Huddle Capital has just launched. So it’s the one offering funding. The start-up says it connects borrowers and lenders through a personal, bespoke service – and is focusing on SMEs. According to Huddle, borrowers can receive their funds “within days”.
It is currently working with Rebuilding Society in order to operate as an FCA-authorised platform. “Following a period of bedding in and growth”, Huddle states it will consider applying for full FCA authorisation.