Fintech funding round-up: 19 October 2017
Three of the latest stories in one for a fast fintech funding round-up. Features Paykey, Digital Asset, Santander InnoVentures and ePesos.
Paykey closes its $10 million Series B funding round, led by MizMaa
Starting with Paykey, a fintech start-up, it says it has bridged the gap between banking and social, by officially closing its $10 million Series B funding round, led by MizMaa. The funding will be used to progress PayKey’s global expansion and to continue developing new solutions. This round brings the total invested in the company to $16 million.
With its patent pending mobile banking keyboard, PayKey enables banks to provide its customers with the ability to complete a range of financial services, including P2P payments, balance checking, cardless cash withdrawal and chatbot engagement, from within any mobile application without needing to open the bank’s app.
As for Digital Asset, a distributed ledger technology (DLT) specialist, it raised over $40 million of Series B financing from existing and new investors, led by Jefferson River Capital. The latest round brings the total funding raised to over $110 million as the company expands its global presence.
On top of this, Digital Asset has expanded its executive team with Clyde Rodriguez, former co-CTO of Two Sigma investments. Joining as chief information officer and CTO of engineering, Rodriguez brings more than 20 years of enterprise software and cloud development experience.
Santander InnoVentures, the fintech venture capital fund of Santander Group, has made an investment in the Mexican start-up ePesos, a mobile payments company for the underbanked. ePesos has closed a $6 million investment round that will enable the company to continue growing its platform serving and supporting SMEs across Mexico.
ePesos is building a new payment platform for the underbanked and unbanked in Mexico. Through its platform ePesos offers low-cost short-term working capital through a revolving line of credit to SMEs without a bank account. Borrowers receive and repay funds through a custom built mobile wallet.
