ICYMI fintech funding round-up: Decentro, Sidekick and 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.
Indian fintech start-up Decentro has secured $4.7 million in a Series A funding round led by Rapyd Ventures.
The round also saw participation from Leonis VC, Uncorrelated Ventures and a number of angel investors.
Founded in 2020, Decentro’s platform helps companies build their banking, payments and fintech workflows “in days”. It claims its valuation has jumped 3.3x, and revenues by more than 35x since its seed round two years ago.
The company plans on using the funds towards growing its platform.
UK-based fintech start-up Sidekick, which aims to provide an active investment management platform, has raised £3.3 million in pre-seed funding.
The round was led by Octopus Ventures with participation from Seedcamp, Semantic and angel investors.
Founded this year, Sidekick aims to target well-off individuals, giving them access to active portfolio management, assets such as cryptocurrencies and private equity and equipping them with financial education tools.
The money will be used towards building out the platform and product offerings.
OpenFin, a US-based workspace management and workflow automation start-up, has secured $10 million in investment from ING Ventures and a strategic investment through a partnership with In-Q-Tel (IQT).
Founded in 2010 and based in New York with offices in London and a presence in Hong Kong, OpenFin claims to deploy more than 3,500 desktop applications to more than 2,400 buy-side and sell-side firms. It also claims it is used by 90% of global financial institutions.
“OpenFin’s platform provides a unique capability for unifying workflows across disparate web and Windows applications, allowing agencies to improve the user experience for government workers and enhance their effectiveness,” says Brinda Jadeja, senior partner at IQT.
Singapore-based blockchain-based technology provider Partior has received an undisclosed sum in the form of a strategic investment from Standard Chartered, making it a founding shareholder in the start-up.
Additionally, Standard Chartered will also serve as the first euro settlement bank for the Partior platform, enabling Partior to achieve its plan to broaden currency offerings by 2023.
According to the two firms, the investment will accelerate Standard Chartered’s deployment of blockchain technology across its global wholesale payments and settlements network, and scale the utility of Partior’s technology in global capital markets.
“Our investment in Partior will allow us to deliver the speed, efficiency and visibility of domestic settlement systems to cross-border transactions, simplifying and improving the experience for our clients,” says Philip Panaino, global head of cash, transaction banking at Standard Chartered.