ICYMI fintech funding round-up: Embat, Slice, NayaOne, MoneyHash and 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.
Embat completes $16m Series A
Spanish start-up Embat has secured $16 million in a Series A funding round to fuel its international expansion plans.
The round was led by Creandum with participation from existing backers 4Founders, Samaipata, and Venture Friends.
Madrid-headquartered Embat offers an automated treasury management platform built to help small and medium-sized enterprises (SMEs) streamline payment, accounting, and reconciliation tasks.
The company currently has around 70 international employees and around 150 clients, and plans to use the new funds to expand across “key European markets”, including the UK and Germany.
Tel Aviv-headquartered global equity assurance platform Slice has emerged from stealth with $7 million in seed funding led by TLV Partners.
The seed round also featured participation from Jibe Ventures, R-Squared Ventures, international law firms Wilson Sonsini and Fenwick & West, and a collection of angel investors.
Slice will utilise the funding to further develop its software offering and execute its go-to-market strategies throughout the US and Europe.
The company’s AI-powered platform aims to help CFOs navigate changing regulations and tax codes when issuing and managing equity to their international employees. The fintech claims to be the first to apply large language models (LLMs) to the equity compliance space.
Slice’s new solution “equates to a substantial saving on time and costs, and also helps avoid distress for employees who may experience potential penalties”, says the firm’s co-founder and CEO, Maor Levran.
NayaOne secures $4.7m investment
UK-based fintech NayaOne has landed a $4.7 million investment following a fundraising round led by EJF Capital, with participation from Australia’s Carthona Capital and the capital arm of Valley Bank, Valley Ventures.
NayaOne says financial institutions require assistance when “navigating through the fintech landscape”, highlighting that only 5% of banks develop tech in-house.
To help with this, the company offers a sandbox-as-a-service platform including a fintech marketplace, a data marketplace, and experimentation environments to help companies find the right fintech partners and deliver proofs of concept “in six weeks rather than nine months”.
Speaking on the recent round, NayaOne’s CEO Karan Jain states that it is a “nod to the opportunity and magnitude of the challenge we’re tackling in financial services”.
New York-headquartered MoneyHash has raised a $4.5 million seed funding round, which will enable the firm to further invest in its technology and expand its business growth ambitions across the Middle East and Africa (MEA).
The round was co-led by COTU Ventures and Sukna Ventures and saw participation from Dubai Future District Fund, RZM Investment, and VentureFriends, alongside several strategic investors.
The fintech offers an all-in-one payment and revenue operations platform and claims to be the first company to provide such a service in the MEA.
United Fintech secures investment from BNP Paribas and Citi
Global acquisition platform United Fintech has secured an undisclosed amount of investment in a corporate funding round, where BNP Paribas and Citi have become the company’s first institutional backers.
Founded in 2020, the London-headquartered firm looks to grow B2B capital market fintech businesses through its in-house commercial, operational, marketing, and sales teams.
Christian Frahm, United Fintech’s CEO, says the backing from the company’s new partners is evidence of the support for the firm’s vision of a “neutral industry platform for digital transformation”.
United Fintech confirms that as part of the deal, two rotating board seats will be given to BNP Paribas and Citi.
Swedish private equity firm Nordic Capital has made an undisclosed majority investment in US data analytics company ActiveViam to support the fintech’s next phase of growth.
The investment was made in partnership with ActiveViam’s founders and management team who have also agreed to invest in the company.
The fintech provides advanced analytics and decision-making solutions for financial institutions, such as regulatory compliance and risk analytics software.
Kathy Perrotte, CEO and co-founder of ActiveViam, believes the majority acquisition presents a “great opportunity” for the firm and its clients as the company looks to “make further advancements and explore acquisition opportunities”.
