Fintech funding round-up: 17 November 2017
Following on from yesterday’s (16 November) fintech funding fun, here’s another summary. Features Flender, Tipigo Ventures, India Accelerator, Kuants, Sumeru and a handy $2 billion in Singapore.
Return to Flender. Address known. As reported in May, peer-to-peer lending start-up Flender was seeking to get €1 million in funding and is targeting a UK launch after getting full authorisation from the Financial Conduct Authority.
Now we’ve got an update and things have moved on. It has funded around €1 million of loans in the past few months; “added a property backed peer to peer vertical”; and has had 0% defaults.
Tipigo Ventures raises $1 million
Over in Israel, Tipigo Ventures, which offers an artificial intelligence (AI) powered wealth management platform, has raised $1 million in seed funding. The firm says this puts its valuation at $10 million.
The Tel Aviv-based start-up was founded in 2014. Tipigo says it has developed an engine based on AI and machine learning algorithms to automate research in US stocks and locate outperforming investment opportunities in real-time.
On the sub-continent, one lucky fintech start-up has benefited from India Accelerator’s (IA) investment. (Five others also did, but are not fintech.) Kuants, an algorithmic trading platform, will “co work” and “co live” at IA’s start-up academy during a three-month long acceleration programme.
While India Accelerator has funded $20-25,000 in each of the start-ups, the investment round (called Angel Day) saw participation from other selected investors and angels too.
Staying in India, Sumeru Enterprise Tiger Business Solutions, a Bengaluru-based banking software start-up, has raised $900,000 from unnamed investors in India and the US.
The funding will be used for product and technology development over the next two years. This includes new features, a cloud version, platform upgrades, third-party service integrations and chatbots.
Finally, let’s end on a high note. The Monetary Authority of Singapore (MAS) says $2 billion of capital is now available for start-ups through the Singapore Investor Summit.
The summit was the finale of a four-month long matchmaking programme. MAS says more than 1,000 start-ups and 400 investors indicated interest to participate in the process and 525 connections were made among interested parties. The summit, powered by EY, is organised by MAS and the Association of Banks in Singapore.
