ICYMI fintech funding round-up: Fuze, Enigio, DKK Partners 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.
UAE-based fintech Fuze, which provides digital assets infrastructure, has raised $14 million in a seed funding round.
The round was led by Further Ventures.
US-based Liberty City Ventures also took part in the round.
Founded in 2022 and based in Abu Dhabi, Fuze partners with banks, fintechs and financial institutions to offer crypto and digital asset products through its API infrastructure.
With the fresh funding, the start-up aims to bolster its team by making new hires, expand across the region and obtain the necessary regulatory licences.
Data technology firm Enigio has secured €3 million in funding from Lloyds Banking Group, which led the funding round.
Existing investors Stockhorn Capital and Moor Holding also participated in the raise totalling nearly €6 million.
Lloyds Banking Group’s investment will allow Enigio to expand its use of digital documentation in trade via its trace:original solution, which removes the need to physically transfer paper documentation within trade transactions.
DKK Partners, a UK-based frontier markets fintech firm focusing on emerging markets and foreign exchange liquidity, has closed a £3 million pre-seed funding round at a pre-money valuation of £100 million.
Founded in 2020 and headquartered in London, DKK Partners helps corporates and institutions manage currency risk and develop sharp pricing through its strategies and methodologies.
Claiming “record” revenue growth in the past three years, as well as its recent expansion to East Africa, DKK Partners says it will use the funding to drive further expansion opportunities in the coming years.
Pliable, a US-based AI-led Software-as-a-Service (SaaS) platform, has launched out of stealth with $2.5 million in seed funding led by Resolute Ventures.
The round also saw participation from CEAS and other investors.
Pliable offers a no-code architecture that enables everyone, not just the data team, to “consolidate, organise and explore” their company’s data across all aspects of the business to access accurate data quicker, update company metrics easily, and leverage tools to add, enrich and standardise data.
Pliable will use the funding to expand its team, and further enhance its platform.
Digital business account provider for SMEs, Wamo, has secured $1.5 million in a seed extension round led by Finberg and RePie Asset Management, among others.
The investment follows its seed round in November where Wamo raised $1.5 million, taking its total funding to date to $6.8 million.
Founded in 2018, Wamo helps SMEs gain easy access to a business account and a network of partners to anyone looking to do business in the UK and EU. Customers can also access its marketplace for additional services including accessing accountancy platforms, domain hosts and marketing agencies.
Processing close to €1.3 billion in transactions to date, Wamo claims to have opened business accounts for 7,500 customers in Europe and the UK.
The company will use the funds to develop credit products and features for SMEs, as well as to expand into new markets and apply for an electronic money institution (EMI) license in Finland.
Croatian fintech start-up Aircash has secured an undisclosed investment from Udo Müller, who has also joined the firm as a minority shareholder on its board.
Müller, a fintech veteran, joined paysafecard and stayed with the Paysafe Group for nearly two decades. In 2014, Müller was appointed CEO of the e-cash division of Paysafe, a position he held until 2022.
Joining Aircash, Müller will spearhead efforts to support Aircash’s growth and management team, focusing on enhancing product development and banking functionality within the fintech sector. Aircash also plans on expanding its geographical footprint across Eastern Europe, Africa, and Latin America.
Founded in 2015 and based in Zagreb, Aircash is an e-money/payment institution with an EU and Swiss licence. Product offerings include cash voucher and cash or money transfer via Aircash app, and a Mastercard card.