ICYMI fintech funding round-up: Gotrade, lemon.markets, Unifimoney & Gaviti
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.
Gotrade, an investment app that allows international users to buy US stocks and ETFs in fractions, has raised $15.5 million in Series A funding.
The round was led by Velocity Capital Fintech Ventures with participation from Mitsubishi UFJ Financial Group, BeeNext, Kibo Ventures, Picus Capital and returning investors LocalGlobe, Social Leverage and Raptor.
The company received a seed round of $7 million in March 2021.
Founded in 2019, the Delaware-based firm claims its platform is used by 500,000 investors from over 140 countries on the back of “zero marketing”.
The company has also launched its first local product – Gotrade Indonesia – with the aim of bringing transparency and low fees to a “market racked with high fees and a ‘what-can-we-get-away-with’ mindset”.
US-based Unifimoney, a digital wealth management platform for community banks and credit unions, has secured $10 million in seed funding.
Investors include Shop Your Way (part of Transform Holdco LLC), Oriza Ventures, Altair Capital, Global Millennial Capital, White Bay Group, Hard Yaka, Plug and Play, ICBA and a number of angel investors.
Founded in 2019, the platform allows users to trade over 70 cryptocurrencies and offers passive and active investing in stocks, ETFs and precious metals including gold, silver and platinum.
Ben Soppitt, co-founder and CEO, says the company wants to give community banks and credit unions parity with big brand banks and fintechs.
Unifimoney aims to work with financial institutions’ existing technology partners for easy implementation and is integrated with a number of core providers including Jack Henry & Associates and Q2, with more in process.
lemon.markets, a stock-trading API for developers, has secured €15 million in seed funding ahead of its launch in Germany.
The round was co-led by investment firms Lakestar and Lightspeed, with participation from Creandum and System.one. Angel investors from N26, Public.com, sennder, Taxfix, Finoa and Stripe also contributed.
The start-up claims it is one of the largest seed funding rounds in Europe.
The company says it will use the funding to accelerate product development, grow its team and focus on strengthening in-house regulatory knowledge.
Founded in 2020, lemon.markets aims to become the infrastructure for the next 100 million European retail investors.
“We strongly believe that every tech company should be able to embed financial services into their offering and lemon.markets wants to facilitate that,” says co-founder and CEO Max Linden.
“Our infrastructure solution takes care of all the plumbing, so developers in these companies can dedicate their focus on creating value for users.”
Israeli start-up Gaviti has raised $9 million in Series A funding led by UK-based Flashpoint with participation by Moneta VC, North First Ventures, TAU Ventures and LETA Capital.
Gaviti helps companies recoup outstanding receivables through its automated platform.
The company claims to have helped its clients collect $6.2 billion in account receivables in 2021.
“This is a problem all companies face, yet none of them have cracked how to address it without applying pressure on teams and customers,” says Yan Lazarev, co-founder and CEO.
He claims that the company’s clients have lowered the number of overdue receivables by 35% by streamlining an “otherwise tedious process”.
The new funding will be used to expand Gaviti’s services and create new features to further streamline processes.