ICYMI fintech funding round-up: Moniepoint, Qomodo, Keyless, 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 so you can get the latest funding news.

Qomodo lands €13.5 million

Italian fintech Qomodo has secured a €13.5 million Series A funding round led by RTP Global and LMDV Capital.

The round also saw additional support from Primo Capital and Proximity Capital as well as a group of business angels.

Founded in 2023 by Gianluca Cocco and Gaetano De Maio, Qomodo provides an “all-in-one” payment solution for merchants with physical brick-and-mortar stores, supporting both in-store and remote payments. Its platform enables merchants to offer an array of payment options to customers, including buy now, pay later (BNPL).

The funding follows the company’s €34.5 million pre-seed round raised in 2023. Since then, the fintech claims to have increased its customer base fivefold and now serves over 2,500 physical merchants across Italy.

The company will use the latest cash injection to expand its product line and hire new tech talent.

French revenue-based financing provider Karmen has bagged a €9 million investment round made up of a mix of equity and debt.

Paris-based VC Seventure Partners led the equity portion, while Bpifrance and Financiere Arbevel have provided the debt funding, reports TechCrunch.

Since its launch in 2021, Karmen has provided more than 600 French small and medium-sized enterprises (SMEs) with short-term loans ranging from €20,000 to €3 million, funding inventory purchases, team recruitment, customer invoice financing, cash advances, and more.

The round will be used to enhance the company’s AI-driven credit scoring models and accelerate the rollout of new credit solutions in 2025.

MoneyHash secures $5.2 million

MoneyHash, a New York-headquartered payment orchestration platform, has raised a $5.2 million pre-Series A funding round led by Flourish Ventures.

The round saw contributions from previous backers COTU, RZM Capital, and GitHub founder Tom Preston-Werner, as well as new investors Arab Bank Venture Capital, Emurgo Kepple Ventures, Vision Ventures, and Marqeta founder Jason Gardner.

Established in 2021, MoneyHash operates a payment and revenue operations platform in the Middle East and Africa (MEA), featuring an API for pay-in and pay-out operations, recurring payments, virtual wallets, subscription management, reporting tools, and more.

In a company statement, MoneyHash announced that the new funding, building on its March 2024 $4.5 million seed round, will be used to enhance its reach in the MEA region while “laying the groundwork for strategic expansion into additional emerging markets”.

Aslan, a London-based employee financial wellbeing platform, has landed a £3.9 million seed funding round led by Notion Capital.

Founded in 2022, Aslan enables businesses to supply employees with a mobile app and reward card providing “instant cashback on every purchase”, along with financial education resources, flexible pay options, and budgeting tools.

The round, which included participation from Berlin-based VC firm Redstone and a group of angel investors, will be used to support the rollout of new budgeting, financial education, and rewards features.

Additionally, the funds will also be used to fuel a hiring spree across the company’s engineering, product, and customer success teams.

Open Payments bags €3 million

Swedish open banking fintech Open Payments has secured €3 million in an investment round led by Stockholm-headquartered VC Alfvén & Didrikson and supported by Industrifonden and other unnamed existing investors.

Founded in 2017, Open Payments offers an open banking platform designed specifically for B2B payments.

“We developed Open Payments to simplify banking integrations by aggregating multiple bank APIs into one single API,” says Louise Brandt, CEO and founder of Open Payments.

The funding comes on the heels of a successful 2024, during which the company says it tripled transaction volumes, doubled revenue, and “achieved full coverage of the Dutch B2B banking landscape” – paving the way for “broader European expansion”.

The cash injection will fuel further product development, building on recent launches including same-day settlements integrated directly into financial systems and cross-border payment capabilities.

UK-based cybersecurity specialist Keyless has raised a $2 million funding round co-led by existing backers Rialto Ventures and Experian Ventures.

Founded in 2019, Keyless provides banks, crypto platforms, fintechs, and gaming companies with biometric authentication technology, which it says provides multi-layered verification in 300 milliseconds “without storing biometric data anywhere”.

The fundraise supplements the firm’s $6 million round bagged in 2023 and will be used to drive its North American expansion plans.

Keyless will also use the new funds to introduce new products, including solutions to counter injection attacks used in advanced deepfakes, while also hinting at further features currently in development.

Last year, FinTech Futures spoke with Fabian Eberle, co-founder and COO of Keyless, to uncover the pivotal role of privacy-preserving biometrics in keeping customers safe. Click here to watch the interview.

Moniepoint lands investment from Visa

Nigerian business banking and payments fintech Moniepoint has secured an undisclosed sum of investment from paytech giant Visa.

Established in 2015, Moniepoint delivers banking, credit, payments, and business management services to African businesses and merchants, claiming that its platform handles over 1 billion transactions monthly.

Tosin Eniolorunda, founder and Group CEO of Moniepoint, states that “Visa’s backing is a strong endorsement of our vision to digitise and support African businesses at scale”, adding that the two companies aim to “deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy”.

The investment comes hot on the heels of Moniepoint’s $110 million Series C funding round last October.