ICYMI funding round-up: Credit Genie, EdfaPay 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.
US-based digital personal finance platform Credit Genie has secured $4 million in Series A funding, led by Tippet Ventures and Khosla Ventures, with participation from Gabriel Investments.
Launched in 2022, Credit Genie’s platform offers consumers financial alerts and insights, personalised budgeting, and credit-building solutions from a single app, leveraging artificial intelligence (AI) and machine learning.
With the new funding, Credit Genie will expand its products and hire talent to scale its business further.
Saudi fintech start-up EdfaPay has raised $3.2 million in seed funding.
The round was led by Sanabil 500 MENA, Nufud Wealth International, Atmiid Investment, Basmah Commercial Investment, and a group of angel investors.
EdfaPay will use the funds to grow its foothold in Saudi Arabia, and plot its expansion into new markets including Pakistan and South America.
Founded in 2021, EdfaPay allows companies to use their smartphones to collect payments, using near-field communication (NFC) technology.
The latest funding follows on from a $1.6 million pre-seed round held in February last year.
Malaysian fintech start-up Bayo Pay has secured $2.2 million in a Series A funding round led by VentureTECH SBI, a joint venture between VentureTECH and SBI Ventures Malaysia, a wholly-owned subsidiary of Japan’s SBI Holdings.
VentureTECH SBI and VentureTECH have invested $1.52 million and $650,000 respectively in Bayo Pay.
Founded in 2016, Bayo Pay provides digital payments services in Malaysia and is a licenced e-money service provider under Bank Negara Malaysia.
With the fresh funds, Bayo Pay plans to accelerate its expansion, onboard new customers and promote its offerings and services.
Agent IQ, a US-based provider of digital customer engagement solutions with a focus on personalising financial services, has received an undisclosed sum as a strategic investment from the Bankers Helping Bankers Fund (BHB Fund).
Founded in 2015 and headquartered in San Francisco, Agent IQ utilises AI and machine learning to “augment the human side of banking”.
“The need among community banks for digital engagement in an era of online, technological growth is more important than ever,” says Richard Leggett, managing partner, Latitude38 Venture Partners, which manages the BHB Fund in partnership with IBAT Services.
“We look forward to leveraging our network, partners, and operating experience to help Agent IQ grow and capture future opportunities.”