Fintech funding round-up: 10 January 2018
Hot on the heels of Monday’s (8 January) fintech funding action, here’s another round-up to revel in. Starring Mylo Financial Technologies, Goji and Collibra.
Montreal-based start-up Mylo Financial Technologies, which offers an app that lets users round up their purchases and invest the spare change, has closed CA$2 million ($1.6 million) of seed funding. The funding round included participation by Desjardins Capital, Robert Raich and founding investor, Ferst Capital Partners (FCP). Mylo will use the funding to scale its operations and develop an artificial intelligence (AI) driven personal financial management (PFM) platform.
In addition to the financing above, the firm says it has a confirmed commitment for an additional CA$500,000 ($400,000) that “will close in the months ahead”. Mylo offers investing with less than $1, automatically putting spare change into a personalised, diversified portfolio of ETFs (exchange traded funds). By the way, it acquired Tactex Asset Management in June 2017. It also launched its iOS app in July 2017 and the Android app was released last autumn.
In the UK, Goji, a direct lending investment manager and platform, has secured an undisclosed “multi-million pound” funding round from investors including Anthemis’s Venture Fund and AXA Strategic Ventures.
According to Goji, the money will allow it to further develop its platform and product “pipeline”, including its diversified P2P lending bond. Launched in January 2017, this bond gave UK investors access to a portfolio of over 1,000 loans in an IFISA (innovative finance individual savings account) using Goji’s proprietary investment strategy. Goji adds that the bond’s first 12 month results will be released at the end of January.
Brussels-based Collibra, an enterprise data governance and catalogue software provider, has closed $58 million in Series D financing. This round was led by existing Collibra investors Iconiq Capital and Battery Ventures, with participation from early Collibra investors Dawn Capital, Index Ventures and Newion Investments, bringing the total funding for Collibra to over $133 million. This investment will be used for a “significant number” of new hires in 2018; product development; and building partnerships and alliances.
During the past year, the company says it had 100% annual recurring revenue growth; opened a new, larger co-headquarters location in Brussels; and added nearly 50 personnel globally. In 2017, Collibra released two new versions of its platform.
