ICYMI fintech funding round-up: Firmbase, ThreatFabric, Viceversa 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.
Israeli fintech start-up Firmbase has emerged from stealth with $12 million in funding.
The funding round was led by S Capital with participation from Meron Capital and a group of unicorn start-up founders and angel investors, including executives from Google, Amazon and Microsoft.
Founded in 2021, Firmbase operates a Software-as-a-Service (SaaS) platform that helps companies produce accurate budgets and financial forecasts using AI.
Its software extracts data from a company’s financial and operating systems, providing real-time visibility and helping companies build budgets and run scenario planning in a matter of days as opposed to months.
Amsterdam-based cyber fraud start-up ThreatFabric has raised €11.5 million in a seed round co-led by ABN Amro Ventures and Motive Ventures, with participation from 10xFounders and 14Peaks Capital.
Founded in 2015, ThreatFabric provides a SaaS solution built to help banks and financial institutions detect fraudulent activity across mobile and web channels.
ThreatFabric will use the funding to support its growth and expand its technical capabilities. The firm has plans to expand internationally and extend its fraud detection layers with behavioural-based detection.
Italian fintech start-up Viceversa has secured €10 million in a Series A funding round.
The round was led by CDP Venture Capital with participation from Azimut Libera Impresa, Kairos Partners, Italian Angels for Growth (IAG), and founders of Scalapay and Moneyfarm.
The company has now raised €33 million in total equity and debt financing.
Launched in November 2021, Viceversa offers revenue-based financing to digital companies, along with an analytics and insights platform that provides companies with a snapshot of their performance. It claims a portfolio value of over €25 million with clients in six European countries.
Viceversa will use the funding to fuel its expansion, with a focus on developing data-driven solutions to support companies with their growth.
US-based payroll infrastructure start-up Salsa has raised $10 million in funding.
The round was co-led by Greycroft, Better Tomorrow Ventures, and Definition, with participation from Cambrian’s Rex Salisbury, Forum Ventures, and other investors.
Founded in 2021 with its headquarters in San Francisco, Salsa allows software companies to embed and launch modern payroll products inside their own platforms “faster and easier”.
With the funding, the start-up plans to expand its team and further develop its product offerings.
Indian fintech start-up Fundly.ai has secured $3 million in a seed funding round led by Accel India, with participation from Multiply Ventures and a number of angel investors.
Founded in 2021 and based in Mumbai, Fundly.ai focuses on the healthcare and pharma supply chain by offering “accessible and affordable” financial solutions to small businesses in the sector. It says its solutions help companies improve operational efficiencies, manage cash flows, and increase margins.
The start-up plans to use the new funds to drive its geographical expansion, make new hires, and develop its product offerings.
Pakistani buy now, pay later (BNPL) fintech QistBazaar has received funding and signed an embedded finance partnership with Bank Alfalah.
One of Pakistan’s largest banks, Bank Alfalah has invested $1.7 million in QistBazaar, taking a 7.2% equity stake in the firm.
Launched in 2021, QistBazaar offers 12-month BNPL plans on various consumer products. It also serves people with little to no financial information to help boost financial inclusion.