ICYMI fintech funding round-up: Numarics, Zuvy, Shinkansen and Chari
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 fintech funding news.
Swiss fintech start-up Numarics has raised €10.2 million in a seed round.
The round was co-led by UBS (through UBS Next) and FiveT Fintech (formerly Avaloq Ventures), with additional participation from previous backers Wingman Ventures and Seed X.
Founded in 2020, Numarics operates a finance and business management platform tailored to small and medium-sized enterprises (SMEs). The solution combines AI and human expertise to automate back-office processes, eliminate tedious administrative tasks and provide insights across the business. It currently claims to support more than 3,000 customers.
The funding will be used to boost the company’s growth through acquisitions and fuel its expansion in the DACH region. The company also plans to double down on product development to offer a broader range of services.
Nigerian start-up Zuvy has emerged from stealth with $4.5 million in funding, led by TLG Capital.
The equity and debt financing round also saw participation from additional investors including Next Chymia Consulting HK, Dunbar Capital and Vicus Ventures, along with a number of angel investors.
The Lagos-based fintech has been operating in stealth since 2021 and offers free invoice management software for businesses.
Zuvy will use the funding to meet increased demand for its offering and strengthen its balance sheet.
Chilean fintech Shinkansen has secured $3 million in seed funding.
The round was led by Mexican venture capital firm ALLVP. Also taking part in the round were Salkantay, Chileventures and Pedro Pineda, co-founder of Fintual.
The start-up aims to provide money transfer and transaction solutions for banks and fintechs in the Latin America (LatAm) region.
It leverages AI to automate operations and offers an API integration with banks in Chile.
With the funding, Shinkansen plans to expand its operations into Mexico, Peru and other parts of Latin America.
Moroccan e-commerce and fintech start-up Chari has raised $1.5 million in funding from Verod-Kepple Africa Ventures (VKAV).
Founded in 2020, the Casablanca-based firm helps small retailers in Francophone Africa procure inventory for their stores with free delivery via an app and offers financial services such as payments.
Chari plans to use the funding to expand its operations across Africa, develop its infrastructure and add new products to enhance its offering.