ICYMI funding round-up: Tarabut Gateway, TotallyMoney, Quartr & more
At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly ‘In Case You Missed It’ (ICYMI) funding round-up for you to get the latest funding news.
Dubai-based open banking firm Tarabut Gateway has raised $12 million in a pre-Series A round led by Tiger Global.
The firm says it will use its new cash to expand its technology and build out a leadership team. It brings the total raised by Tarabut Gateway to $25 million.
Launched in 2019 in Bahrain, the startup eventually moved its main office to the UAE, with others in Dubai and Abu Dhabi.
The firm offers a universal banking API to connect banks and fintech to what it calls “customised financial services”.
TotallyMoney, a credit scoring company based in London, has raised £9 million to support its next phase of growth.
TotallyMoney uses multiple data sources to help customers understand, track and improve their credit score.
It claims to have more than four million customers, and will use its latest funding to drive product development and embark on an advertising campaign.
“We believe that people’s financial data should work for them, not against them,” says CEO Alastair Douglas.
“Our service provides our customers with the tools they need to understand their credit score and unlock more opportunities.”
Investment app Quartr has raised $4.5 million in a Seed funding round led by the Öhman Group.
Founded less than a year ago, the Stockholm-based start-up solves what it calls a “big problem” for investors and companies.
Users can see the latest investor presentations that have taken place globally and listen in or read up, whenever and wherever they want.
Quartr will use the funding to scale its platform and operations globally, bolstering its B2B division so that companies can use the platform to connect and get feedback from investors.
“We’re on a mission to make every interaction between companies and investors meaningful, and want to become the golden standard for how they communicate,” says Sami Osman, Quartr CEO.
San Jose-based fintech Able has raised $3.29 million in Seed funding in a round led by Elefund and featuring Moonshots Capital, Next Coast Ventures, Signal Peak Ventures, and UK-based LocalGlobe.
Launching as a mobile app, Able is a central hub for “independent workers”, freelancers, and influencers.
Founded by Vince Cortese and Angelo Pullen, Able was created in 2019 after the pair exited their roles as CFO and CEO of an LA-based influencer-driven entertainment company.
“Our purpose is not only to build the most effective tools to empower independent workers to manage their finances more simply, but also to celebrate those who choose to live a life without limitations,” says Pullen.
Nigerian lending start-up Payhippo has raised $3 million in Seed funding.
A Y Combinator Summer 2021 cohort, Payhippo was founded in August 2019 by three co-founders, Zach Bijesse (CEO), Chioma Okotcha (COO), and Uche Nnadi (CTO).
The firm claims to have disbursed 5,000 loans to small businesses across Nigeria.
“The funding will allow us to invest in hiring more engineers and data scientists,” says Okotcha.
“We aim to improve our technology and enhance our lending offerings as we continue to address the persistent financing gap for small businesses in Nigeria.”
Buy now, pay later (BNPL) software firm equipifi has raised $3 million in Seed funding, to go towards expanding product capabilities and recruitment.
Using equipifi, banks and credit unions can send a BNPL offer via push notification or text message when an eligible customer makes a purchase with their debit card.
If the offer is accepted, the original purchase amount is deposited back into the customer’s checking account.
“Most existing BNPL solutions target consumers directly, which poses a market share threat to banks and credit unions,” said Arthur Miller, CTO.
“Equipifi is built to help banks and credit unions retain and attract customers by reducing friction in the payments process.”
Milanese fintech Tot has raised €2 million in financing ahead of its planned launch in 2022.
Tot aims to digitalise the administrative and financial management for professionals, freelancers, and microenterprises.
The firm says it will allow users to easily monitor and manage their expenditure, collection and earnings, along with the timetable to set aside funds for taxes.
Tot’s three founders are Doris Messina, current chief digital transformation officer of Banca Sella; Bruno Reggiani, former country manager for Italy at Penta; and Andrea Susta, formerly in the digital marketing team of Fabrick.
Banca Sella is also the lead investor in the funding round.