ICYMI fintech funding round-up: Chargeflow, Knot, Treasure Financial & more
At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news.
Chargeflow, a chargeback automation solution for online businesses, has secured $14 million in fresh funding.
Chargeflow raises $14m
The total raised includes an $11 million financing round led by OpenView and a previously undisclosed $3 million pre-seed funding round.
Launched in 2021, Chargeflow leverages generative artificial intelligence (AI) along with human expertise to help e-commerce firms recover lost revenue and ease chargeback pains. Its solution is directly integrated with Shopify, as well as PayPal, Stripe, Klarna and more.
Chargeflow plans to use the funds to further develop its technology and strengthen its growth in the US market.
US fintech Knot, a platform that enables card issuers to automatically switch saved payment methods at the request of users, has raised $10 million in a Series A round.
The round was led by Nava Ventures with participation from Amex Ventures, Plaid and more than 20 CEOs and founders.
The New York-based fintech specialises in card-on-file management, offering a solution that lets card issuers update card-on-file information “instantly and seamlessly, enhancing the customer experience and driving increased interchange revenue from day one”.
The funding will be used to scale Knot’s services and accelerate the expansion of its merchant support.
US-based treasury management technology provider, Treasure Financial, has secured $7.5 million in funding led by Ventura Capital, with participation from Peter Thiel and other existing investors.
Along with the funding, Treasure Financial has also launched a new product, the Treasure API, which will enable companies to embed Treasure’s technology into their own products.
Launched 18 months ago, Treasure Financial offers businesses of all sizes the chance to turn their idle funds into predictable, low-risk revenue streams.
With the funding, it aims to continue developing and improving its treasury management tools for businesses.
Parcha raises $5m
Fintech start-up Parcha has launched its new platform with $5 million in seed funding.
The funding round was led by Initialised Capital, with participation from Kindred Ventures, Propel, Fin Capital, Liquid2 Ventures, Comma Capital, Capital X, Popular Impact Fund and a number of angel investors.
Headquartered in San Francisco and founded by former Brex and Coinbase employees, Parcha aims to automate operations and compliance workflows for companies in the fintech and banking sectors by leveraging AI. The start-up says it is currently working with a handful of early beta customers in payments, lending, banking and crypto.
UK-based digital investment platform Mnaara has raised $500,000 in a pre-seed funding round from investors in the UK, US, Middle East and Singapore.
Mnaara claims to be the world’s first investment platform offering “equitable access” to Shariah-compliant global private markets funds.
“The funds follow strict Shariah screening guidelines which limit and control what are considered non-ethical activities in Islamic finance, such as gambling, tobacco, alcohol and arms, in addition to generating income from interest,” Mnaara explains.
The platform will be made publicly available to eligible investors before the end of this year.
The new funding will be used to grow the start-up’s team and develop products that cater to the globally underserved mass-affluent market.
