Fintech funding round-up: 26 April 2017
They said it. We read it. We edit. Hot on the heels of Monday’s (24 April) fintech funding round-up, we have more action. Featuring Quovo, Gnosis and Indian Angel Network.
New York-based Quovo, a data platform providing insights and connectivity for financial accounts, has raised $10 million in Series B funding. F-Prime Capital and Napier Park Financial Partners co-led the round and were joined by existing investors, FinTech Collective and Long Light Capital.
It will use the funds to accelerate the growth of its suite of data analytics offerings, which include the company’s recently launched bank authentication API and Quovo Connect module.
Gibraltar-registered blockchain start-up Gnosis has raised $12.5 million in 12 minutes. As a result, co-founder Martin Koppelmann told Reuters it will leave most of its remaining currency untouched for at least a year. The firm sold 5% of its ten million GNO tokens to investors for $30 each, making it the “most expensive digital currency ever offered in an initial sale”, according to Koppelmann.
As is quite common in fintech, the offering was oversubscribed, and Koppelmann says it turned away $3 million in additional bids. About two-thirds of investors were from outside the US. Gnosis is holding onto the rest of its tokens, and is now valued at more than $300 million.
Some heavenly news from India, where Indian Angel Network (IAN) has plans to raise $54.6 million in its maiden funding round. An initial funding leg of $27.3 million has been secured and will be released to the network. The money won’t just go to fintech. IAN provides cash to such sectors as healthcare and medical devices, marketplaces, big data, artificial intelligence (AI) and hardware.
IAN says it is the “world’s largest business angel group” – with close to 450 investors from ten countries – and over 7,000 entrepreneurs pitch to IAN each year. According to IAN, it has invested in over 55 ventures over the last two years.
