in a Financial Technology FuturesIn this fast-paced industry, we know it can be easy to let finance ads slip away. That’s why we’ve compiled our weekly website In case you missed it (ICYMI) Finance group to get the latest finance news.
London-based paytech DigiDoe safe £852,500 From new investors in an initial funding round, which it says “closed early due to high levels of customer interest in DigiDoe’s unique, next-generation, fraud-proof, multi-currency payment system.”
The tour was led by investment firm Joint Journey and gave DigiDoe a 12-month listed.
The startup says it is “on the way to revolutionize the world’s legacy payments infrastructure” and claims to be the first in the UK to offer biometric payments to merchants without a card or phone.
DigiDoe is now piloting its patented 7D user authentication technology based on multi-factor biometrics. A solution built from scratch can generate 200,000 transactions per second, compared to the capacity of 60,000 transactions per second for current credit card providers, the company says.
acorn financing, which describes itself as “the world’s first embedded lending marketplace for home improvement financing.” $8.4 million in Series A funding.
The tour was led by MassMutual Ventures. Its managing director, Eric Emmons, will join Acorn Finance’s board of directors.
Also on the round were Moderne Ventures and previous investors Vestigo Ventures, Accomplice and MetaProp.
The $4 million seed funding brings the company’s total funding to $12.4 million.
US-based Acorn Finance says the latest funding will help “to increase the number of lenders in the market by including regional banks and credit unions, process loans almost instantaneously instead of the next day, enhance the customer experience by halving application time, and improve algorithms to help Borrowers have to choose the right offer based on key criteria including location, how quickly they need the money, type of project and their credit risk.” It also plans to double its team.
In 2021, the number of customers who applied for loans through the Acorn Finance platform and Acorn’s revenue grew by 800%.
It is now exploring breaking into additional industries including elective health care, legal expenses, and e-commerce.
Online Multi Merchant Rewards Platform Thanks have closed $5.3 million seed funding roundCo-led by 500 venture capital firms Global and Unicorn Growth Capital.
Also participating were Expert Dojo, Predictive VC, SaaS Growth Ventures, Betatron Venture Group and Accelerex Holdings, as well as individual investors such as Andrew Dell (former CEO of HSBC Africa) and Craig Fenton (Director, Strategy and Operations, Google UK).
ThankUCash was launched in Nigeria in 2018 by Connected Analytics. It says it has more than 600,000 users and 1,000 stores on its platform, and has processed more than $80 million in transaction volume. It employs 45 people.
It previously raised $320,000 in seed funding. The company says the new money will be used to expand into Ghana and Kenya.
UBS Next, the $200 million fintech portfolio of Swiss banking giant UBS, has invested in the United States Confidence and willIt is a digital real estate planning platform.
“With this investment, we are exploring services beyond banking where we can partner to deliver real value to our company,” comments Mike Dargan, UBS Group Head of Information and Digital Intelligence.
UBS Next was created in 2020 and primarily seeks minority and direct investments in fintech companies and technology companies with strategic and financial relatedness (eg direct action, customer influence, or catalysts to improve the platform/process).
MDX Technology (MDXT), a UK-based real-time data collaboration technology company, has securedbig investmentFrom a group of special backers, including Daniel Simpson and Emmanuel Mond, founders of Cadis (now IHS Markit EDM), and Graham Denyer, former chief technology officer of IHS Markit EDM Shows.
The amount of the investment was not disclosed.
MDXT CEO Paul Wattmo says the company’s technology is used by “nearly 40 high-profile investment banks, inter-dealer brokers and buy-side firms” and underpins the MDXT market.
Earned Wage Access (EWA) service provider Pay hour Effects $5.25 in an initial funding round Led by US venture capital firm Third Prime and a number of family offices in Singapore and Hong Kong. Also on the round were SparkLabs, Won & Partners, and CTK Investments.
Paywatch claims to be “the only EWA service provider in Asia working with major banks – such as Hong Leong Bank in Malaysia and Hana Bank in South Korea – to provide workers with access to their wages earned, in real time, before payday”.
It is integrated with five well-established financial institutions across Asia, and “acts as a bridge providing underbanked users with direct financial access to reputable banks”.
Operating in South Korea, Malaysia and Hong Kong, the company plans to use the new money to accelerate expansion efforts into new Southeast Asian markets, including Indonesia and the Philippines.
Paywatch was founded in 2018 by brothers Richard Kim (formerly MasterCard and HSBC) and Alex Kim.