ICYMI fintech funding round-up: Bitpanda, Jenfi 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.
Austrian fintech unicorn Bitpanda will make an initial investment of $10 million to establish a dedicated AI division and build a customisable AI-led wealth manager.
With Bitpanda.ai, the firm plans to develop AI-driven products and investing features, including personalised investment ideas, automated portfolio strategies, real-time market analysis and an AI wealth coach for users.
Founded in 2014 and based in Vienna, Austria, Bitpanda’s trading platform enables more than 4 million first-time and experienced investors to invest in cryptocurrencies, crypto indices, stocks, precious metals and commodities.
Singapore-based Jenfi, an alternative revenue-based financing company for digital businesses and start-ups in Southeast Asia, has raised $6.6 million in pre-Series B funding.
The round saw participation from new investor Headline Asia alongside existing investors Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital and Atlas Ventures.
Founded in 2019, the company provides “growth capital as a service” to about 600 companies. With the new funding, it plans to launch new product offerings, develop its technology capabilities and offer up growth capital to more customers in the region.
Austrian start-up Cashy has secured €6 million in investment from new investor Katharo Ventures, and from angel investors.
Founded in 2018 and based in Vienna, Cashy operates an online financing platform for people and businesses in need of money for shorter periods of time, as well as offering pawnbroking services.
Cashy will use the capital to expand its operations in Germany, where it opened its first branch in Munich in November 2022, to Berlin and Essen. The company also plans to expand into other European markets.
Blockchain-based financing start-up Jia has bagged $4.3 million in seed funding led by TCG.
Founded in 2022, Jia aims to provide blockchain-based financing to small businesses in emerging markets across the world.
The round saw participation from additional investors including BlockTower, Hashed Emergent, Saison Capital and Global Coin Research, as well as angel investors.
The start-up aims to utilise the funds towards expanding its operations in Kenya and the Philippines, it tells TechCrunch, followed by plans to expand into West Africa, Asia and Latin America.
Lithuanian regtech firm AMLYZE has landed $1 million in a pre-seed funding round led by Practica Capital.
The round also saw participation from the Firstpick accelerator and venture capital fund.
Founded in 2019 and based in Vilnius, AMLYZE offers anti-financial crime solutions to fintechs, neobanks and crypto firms. They include real-time and retrospective transaction monitoring, customer risk assessment, and anti-money laundering (AML) investigation.
The funding will be used to scale AMLYZE’s Software-as-a-Service (SaaS) business, facilitate international expansion, and introduce advanced functionalities to its core product offering.
UK-based payments start-up Hands In has secured $550,000 in a funding round from a number of angel investors, that will help it to propel its group payment services.
Its solution will allow groups of people to split the total cost of payment at checkout, either equally or by item, with no money being taken from the group until all members confirm participation. Hands In says its solution “fits particularly well” for travel, but can also work for hospitality, ticketing and other sectors where group purchases are common.
The start-up plans to use the funds towards accelerating its growth, form new use cases and develop new products and services.