ICYMI funding round-up: FlexxPay, Raqamyah, and JustUs
With the fast-paced nature of the fintech world sometimes it’s easy for announcements to slip by. Here at FinTech Futures we’ve put together a “In Case You Missed It” (ICYMI) list of our funding picks this week.
Dubai-headquartered fintech FlexxPay raised $3 million in a pre-Series A round.
Investors included Jameel Investment Management Company, Target Global, Wamda, DIFC FinTech Fund, and more.
Originally announced back in 2019, the round has now closed, bringing the firm’s total raised to just above $4.5 million.
Founded in 2018, FlexxPay enables companies to issue employees with a portion of their salaries.
“The continued support of our existing investors and the addition of new investors is invaluable to FlexxPay’s growth and evolution,” says CEO Michael Truschler.
“Giving people access to what they have already earned is just the right thing to do. They’ve earned it, they deserve it.”
Saudi Arabian crowdlending platform Raqamyah has raised $2.3 million in an investment round led by Impact46.
Additional investors include Vision Ventures, Mad’a Investment, Al Yusr, and Fadeed Investment.
The start-up claims to help small businesses access finance up to $1.3 million through individual investors in an online platform.
“Peer-to-peer lending is one of the fastest-growing areas in fintech and it is at its early stages in terms of innovation and disruption,” says CEO and founder Ammar Bakheet.
Raqamyah plans to use its latest funds to comply with the Saudi Arabian National Bank’s licence requirements.
Lendtech JustUs has gone crowdfunding and raised £1.3 million from 449 investors.
The start-up plans to become a provider of crowdfunded financial products for consumers with its JustUs ISA.
The firm has received approval to provide residential mortgages and has completed over 850,000 transactions.
It plans to use its new funding to power a new stage of growth, including the launch of a “people’s mortgage” in Q2 2021 and a new loan servicing platform.