ICYMI fintech funding round-up: Khazna, Fimple, Foyer, 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.
Khazna bags $16 million
Egyptian fintech Khazna has secured a $16 million pre-Series B funding round to fuel its regional expansion.
The round saw contributions from both new and existing backers, including Aljazira Capital, Khwarizmi Ventures, Nclude, anb Seed Fund, Disruptech Ventures, ICU Ventures, Quona, Speedinvest, and SANAD Fund for MSME.
Founded in 2019, Khazna provides a financial services app featuring bill payment, buy now pay later (BNPL), and early wage access (EWA) services, among others.
The new funding will support the company’s digital banking licence application in Egypt, with the company also planning to expand into the Saudi Arabian market.
Khazna previously secured $38 million in a mix of equity and debt in a Series A round led by Quona Capital and Lendable in 2022.
Core banking fintech Fimple has landed a $12 million Series A funding round led by DN Capital and Smartfin.
The round, which saw additional support from Albaraka Portfolio and Tera Portfolio, builds on Fimple’s $3.5 million fundraising in January 2024.
Founded in 2022, the UK and Türkiye-based firm provides banks and lenders with a composable core banking platform that can be deployed in the cloud and on-premise.
The company’s new funding will enable it to expand its reach beyond Egypt and the GCC, targeting the wider MENA region and the Commonwealth of Independent States (CIS) market, while also advancing product development.
Foyer lands $6.2 million
New York-headquartered fintech start-up Foyer has raised a $6.2 million seed round led by Alpaca VC and Hometeam Ventures.
The round was further supported by VCs Accion Venture Lab and Clocktower Ventures.
Founded in 2022 by Landy Liu, Foyer offers consumers in the US a savings platform built to help first-time homebuyers save for their down payments.
The cash injection has been designated to drive product development, with Liu writing in a company blog post: “Over the next few years we will have three core product focus areas to provide 1. Confidence, 2. Savings, and 3. Education to the next generation of homebuyers.”
London-based start-up Semeris has secured a $4.3 million funding round led by Puma Growth Partners.
Founded in 2020, Semeris combines AI and human expertise to streamline legal document analysis in the debt and structured finance markets, claiming to accelerate the deal review process by 10x.
The financing will be used to bolster its sales workforce and drive its expansion into new asset classes.
Peter Jasko, CEO of Semeris, says the investment will push the company “beyond CLOs (Collateralised Loan Obligations) and ABS/MBS into other asset classes and document types, such as credit agreements in leveraged loans and private credit, equipping structured finance professionals with AI-powered tools that drastically reduce turnaround times and tackle challenges previously out of reach”.
EasyBank secures $370,000
Tunisia-based start-up EasyBank has bagged a TND 1.2 million (approximately $370,000) investment from an unnamed international investor.
Established in 2023, EasyBank leverages AI to provide personalised financial advisory services and acts an intermediary to help clients access banking insurance products and loans.
The fintech will use the funds to propel its global expansion plans, which includes entering the French and MENA markets.
The company was founded by Mohamed Khelifi, a former branch manager at Bank ABC Tunisie and Zitouna Bank, and a co-founder of X-Mall, a BNPL solution.
UK regtech Napier AI has landed an undisclosed sum as part of a majority growth investment from Marlin Equity Partners, a California-based venture capital firm with over $9 billion in capital commitments.
Founded in 2015, Napier AI provides a suite of AI-powered AML and financial crime compliance solutions. The company claims its Continuum platform is used by “over 100 institutions worldwide”, including ClearBank, HSBC, State Street, Starling Bank, and Mizuho Trust & Banking.
Napier AI says the investment will be used to “advance its market position through ongoing research and development and support its go-to-market expansion globally”.
The funding comes a year after the regtech secured a £45 million investment from US-based Crestline Investors, which was earmarked to drive the growth of its explainable AI-powered screening and monitoring products.
