ICYMI fintech funding round-up: CredCore, MANSA, SRA Watchtower, 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.
CredCore bags $16 million
US-based fintech CredCore has landed a $16 million Series A funding round led by Avataar Ventures.
BellTower Partners, Inspired Capital, Fitch Group, and a group of unnamed senior executives in asset management and financial services provided additional support for the round.
Founded in 2022 and headquartered in New York, CredCore leverages AI to deliver modern credit investing and management solutions. Its platform, which the firm says currently oversees more than $650 billion in assets under management, offers features for pre-deal evaluation, due diligence, and post-deal management.
The company says it plans to use the cash injection to expand its workforce, strengthen its AI capabilities, and enhance its platform to support a “broader range of credit market participants and deal types”.
UAE-based cross-border payments provider MANSA has secured a $10 million funding round consisting of $3 million in pre-seed funding and an additional $7 million in liquidity funding.
The pre-seed round was led by Tether and Polymorphic Capital, with additional backing from Faculty Group, Trive Digital, and Octerra Capital. The liquidity funding has been provided by a consortium of unnamed corporate investors, alternative investment firms, and quantitative funds.
Launched in August 2024, MANSA offers stablecoin-based cross-border payment solutions aimed at alleviating “global liquidity shortages”. The company claims that its platform has facilitated $27 million in transaction volume since its inception.
The funding has been earmarked to further develop tailored cross-border liquidity and ancillary solutions, as well as fuel the Dubai-headquartered firm’s expansion into the Latin American and Southeast Asian markets.
SRA Watchtower lands $4 million
SRA Watchtower, a US-based financial risk management specialist, has bagged $4 million in a funding round led by existing investors EJF Capital, FINTOP Capital, and JAM FINTOP.
Founded in 2008, SRA Watchtower provides risk management and financial insight solutions through its Software-as-a-Service (SaaS) platform.
While the exact allocation of the new funding has not been specified, its latest round follows the company’s recent acquisition of Lumio Insight, a cloud-based data management and analytics provider, for an undisclosed sum.
Jeff Fink, Lumio Insight’s co-founder and CEO, explains that the company’s “suite of financial, customer, deposit, and loan insight applications combined with Watchtower’s risk insight capabilities will empower chief financial, credit and risk officers to enact better operational and strategic decisions”.
Canadian fintech start-up Glassbox has raised $1.2 million in a pre-seed funding round led by StandUp Ventures and FinTech Collective, with additional support from Watertower Ventures.
The company offers a SaaS financial modelling platform featuring FinScript, a framework that swaps traditional spreadsheet formulas for plain text inputs, utilising large language models (LLMs) to optimise financial analysis.
Allison Harris, Glassbox’s CEO and co-founder, states: “Our goal is to build smarter, more transparent tools that will truly enable finance professionals to responsibly leverage AI at scale.”
Founded in 2023, Glassbox has operated in stealth mode for the past 18 months. The new funds will be used to grow its workforce and launch its AI-driven financial analysis platform.
The company says it is now opening its waitlist, with plans to “scale distribution later this year”.
FinTech Scotland has awarded five UK fintechs £50,000
Five UK-based fintechs – Ask Silver, Docstribute, NestEgg AI, MyArk, and Profylr – have each been awarded £50,000 by FinTech Scotland to “propel developments that support financial inclusion, accelerate financial resilience and deepen consumer engagement in financial services”.
The funding follows the companies’ participation in FinTech Scotland’s Consumer Duty Innovation Call from its Financial Regulation Innovation Lab (FRIL), an accelerator project backed by Innovate UK.
Chosen from a pool of 20 global fintechs, the five start-ups were selected for their solutions aimed at making financial services “more inclusive, accessible and consumer focused”.
The awards were granted after the firms showcased their offerings at a pitching event at PwC’s Glasgow offices in January.
