ICYMI fintech funding round-up: EduFi, Performativ, Due 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.
Singapore-based fintech start-up EduFi has secured $6.1 million in a pre-seed funding round led by Zayn VC.
The round also saw participation from Palm Drive Capital, Deem Ventures and Q Business as well as a number of angel investors.
Founded in 2021, EduFi operates an AI-led platform for students seeking loans for higher education, and has recently launched its mobile app in Pakistan.
The fresh funding was raised “after two years of tech development, credit model testing and client building”, Aleena Nadeem, founder and CEO of EduFi, writes on LinkedIn.
With the cash, EduFi plans to make improvements to its platform, onboard more customers, expand to neighbouring markets and launch new products, including student credit cards.
Performativ, a Denmark-based wealth management technology provider, has secured €5.5 million in a seed funding round led by FinTech Collective, with participation from all existing investors.
Established in 2020, Performativ’s technology streamlines the wealth management processes of its clients’ front, middle and back offices, “creating a significant change in an industry long overdue for a digital transformation”.
It claims its platform is user-friendly and reduces onboarding time by 200% compared to industry averages. Once onboarded, it also claims to reduce operational costs by up to 70%.
With the funding and its lead investor’s expertise, Performativ aims to accelerate its growth trajectory and broaden its investor base.
US-based real estate investment platform Mogul has completed a $3.6 million seed funding round, bringing its overall funding to $4.2 million to date.
The funding round was led by AY Ventures, with investments from Tim Draper & Associates, Draper B1, InterVest and Draper Dragon, in addition to several angel investors.
With the new funding, Mogul plans to develop new platform features and scale out into additional investment product offerings, which it says will include “previously inaccessible asset classes”.
Founded in 2022 by former Goldman Sachs Real Estate Investment Group members Alex Blackwood and Joey Gumataotao, Mogul is headquartered in Washington DC.
UK-based fintech start-up Due has secured $3.3 million in a seed round led by Semantic and Fabric Ventures, with participation from BlockTower VC, Speedinvest, Polymorphic Capital and Discovery Ventures.
Founded in 2022 and based in London, Due aims to provide borderless multi-currency accounts and international payments through its decentralised, non-custodial platform.
It is set to launch this November, focusing on corridors connecting the US, Europe, the UK and Sub-Saharan Africa, with expansion into Latin America and Asia Pacific scheduled for Q1 2024.
Singapore-based fintech Primer, which provides a unified infrastructure for global payments and commerce, has secured an undisclosed investment from Tencent.
With the funding, Primer hopes to “capitalise” on its market position by growing its product portfolio, expanding its market reach and enhancing its existing products and features.
Founded in 2020, Primer helps merchants by providing them with tools to “optimise their performance, build at pace and capture untapped revenue” through its platform.
“We are addressing a huge problem in the payments industry by enabling merchants to create better commerce experiences while unlocking new revenue streams for the ecosystem,” says Gabriel Le Roux, CEO and co-founder of Primer.