ICYMI fintech funding round-up: Tranch, Quantifeed, Chekk & Crowd Data Systems
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.
New London-based buy now, pay later (BNPL) fintech Tranch has secured £3.5 million ($4.25 million) in a pre-seed debt and equity round.
The equity investment was led by Flash Ventures and Global Founders Capital, while the debt facility has been provided by Columbia Lake Partners.
Coming out of stealth, Tranch is a B2B BNPL payments firm that helps Software-as-a-Service (SaaS) sellers and professional services providers offer their end-customers a way to pay large expenses without eating up cashflow.
The platform uses open banking along with credit risk modelling and offers larger credit lines that can be repaid over longer periods.
The start-up plans to expand into the US and will join Y Combinator’s Summer 2022 cohort this year.
The funds will be used to grow its team and “onboard more suppliers across multiple verticals”.
Hong Kong-based fintech Quantifeed has raised an undisclosed sum in a Series C funding round led by HSBC Asset Management.
Daiwa PI Partners joined the round alongside existing investors including Franklin Templeton and LUN Partners Group.
Quantifeed provides digital wealth management solutions for financial institutions in Asia and has presence in Singapore, Australia, Japan and India.
The firms says it will deploy the funds towards strengthening its solutions for advisors, portfolio managers and end-customers and hire new talent across the Asia-Pacific region.
Alex Ypsilanti, CEO and co-founder of Quantifeed, says: “Quantifeed’s mission is to help financial institutions become providers of wealthcare, a customer-centric wealth management service that makes investing easy, accessible and relatable for everyone.”
UK-based Crowd Data Systems, a B2B SaaS platform, has bagged €1 million in a seed round led by Triple Point Ventures, with participation from Portfolio Ventures and a number of angel investors.
The company plans to use the money to build out its sales, marketing and customer success teams to support its growth.
Crowd Data Systems’ platform provides data-driven decisions to enable corporate treasurers managing a company’s liquidity, funding, capital and allocation of financial resources to work more quickly and efficiently in alignment with their firm’s overall strategy.
It provides its services through APIs and open banking and aims to “take the pressure off corporate treasury teams” by automating manual processes.
Crowd Data Systems claims to be the “world’s first” connected cloud service for corporate treasury and says it currently services more than 90 businesses across 32 countries.
Know your customer (KYC), know your business (KYB) and data management platform Chekk has secured a “multimillion-dollar” funding round led by HSBC Asset Management’s alternative business, HSBC Alternatives.
Chekk is a SaaS platform that aims to “remove the pain and costs” that emerge from interactions between companies and their customers while enabling financial crime prevention, access to financial services and new business relationships.
“Our platform aggregates data sources from around the world to feed into a modular ecosystem of advanced capabilities and channels,” says Pascal Nizri, co-founder and CEO of Chekk.
Chekk has offices in Hong Kong, Singapore and Paris.