ICYMI fintech funding round-up: Cino, IDnow, Hands In, 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.
myTU bags €10 million
Lithuania-based myTU has raised €10 million in a Series A funding round supported by existing backers and two unnamed investors.
Founded in 2019, myTU claims to be the first digital bank powered by Google Cloud, leveraging AI for internal processes such as AML checks, ID verification, and customer due diligence.
The company says it is “on track” to process over €1 billion in transactions by the end of 2025 and currently serves over 50,000 retail customers and more than 200 businesses.
MyTU will use the Series A, which values the company at over €35 million, to scale its platform, expand its acquiring and lending capabilities, and “regulatory preparations for securing a full banking licence from the Bank of Lithuania”.
Estonia-based start-up Cino has secured €3.5 million in a seed funding round led by VC firm Balderton Capital.
Founded in 2022, Cino positions itself as the first solution that “lets people truly pay together”, by enabling users to securely join shared payment groups with customisable split ratios, where payments are processed in real-time directly from their bank accounts at checkout.
The company says the round, which saw further support from Connect Ventures and a group of industry angels, has been earmarked to drive its launch in the UK and expand its shared payment features, with the company also looking to explore “new verticals including B2B payments and rent”.
Hands In raises over £1 million
Hands In, a UK-based paytech, has landed “over £1 million” in its latest investment round backed by CONCRYT and a consortium of fintech angels.
Founded in 2022, Hands In offers an end-to-end payment platform that allows customers to split payments across multiple cards and individuals.
This new funding builds on the £500,000 pre-seed investment it received in 2023 and will be used to enhance its technology, scale operations, and drive expansion into “key sectors”.
Furthermore, Hands In reveals the investment will enable it to activate signed contracts “set to go live in 2025”, alongside securing further enterprise deals as the company looks to achieve its goal of £1 million in Annual Recurring Revenue (ARR).
German identity verification platform IDnow has secured a new undisclosed sum of investment from US-based specialist investment firm Corsair Capital.
The deal will see Corsair acquire a majority share in IDnow from existing shareholders, building on its initial investment in 2019 when the firm acquired a minority stake through a $40 million funding round.
Founded in 2014, IDnow provides AI-powered cybersecurity and digital verification solutions across various sectors, including financial services, gaming, telecommunications, and travel.
According to a LinkedIn post, IDnow states that the recent investment will “enhance our ability” to deliver identity verification solutions to “new global markets”.
