ICYMI fintech funding round-up: Zeepay, Coadjute, Hello Alice, CertifID 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.
Iceberg Data Lab raises $10 million
Iceberg Data Lab (IDL), a French provider of ESG data solutions for financial companies, has secured $10 million in Series A funding, bringing the total funding raised by the firm to over $15 million.
The round was led by US VC Beringea with participation from AXA Investment Managers, MAIF Avenir, and other existing investors.
IDL says that the funding will be used to invest in the latest technologies to enhance its product offerings and advance the company’s “product pipeline”. It also plans to expand its global footprint, with a specific focus on the UK market.
IDL CEO and co-founder Matthieu Maurin says the start-up aims to help its clients “align with global environmental goals, and mitigate the negative impacts of climate change, protect natural habitats and curb biodiversity loss”.
Proptech firm Coadjute has received a £3 million investment from a group of the UK’s largest mortgage providers – Lloyds Banking Group, NatWest, and Nationwide – alongside UK property website Rightmove.
Getting the three biggest players in the UK housing sector together was described as “no easy feat” in a LinkedIn post by Robin Scher, the head of fintech investment at Lloyds Banking Group, the lead investor in the deal.
Based in London, Coadjute aims to simplify the house-buying process by “connecting existing property software systems across the house-buying journey”.
It says its technology “enables related parties to share communications and documents quickly and securely, increasing transparency and speed across each step of the property buying journey from estate agents to brokers, banks, and conveyancers”.
This is achieved through the use of distributed ledger technology (DLT), with the start-up’s platform designed to integrate with existing front-end systems already used by businesses.
Zeepay bags $3m investment
Ghanaian mobile money business Zeepay has secured a $3 million equity investment from South Africa’s Verdant Capital Hybrid Fund.
The investment, which the firm says will “strengthen its financial position in anticipation of its high growth in 2024”, brings the total capital raised by the company to $23 million – this includes the $8 million secured during a Series A round led by Investisseurs & Partenaires in 2021.
Zeepay offers a remittance-to-wallet service, enabling users in 23 countries to send remittances to Ghana quickly and easily. The start-up also has licences in Barbados, Gambia, Ivory Coast, Sierra Leone, and Zambia.
Hello Alice, a US-based digital platform built to help small businesses access capital, has raised an undisclosed amount in a Series C funding round.
The round saw participation from QED Investors and paytech giant Mastercard. Additional backing was provided by Backstage Capital, Harbert Growth Partners Fund, How Women Invest I, Golden Seeds, and Lovell Limited Partnership, alongside angel investors which included American restaurateur Guy Fieri, Adam Housley, Tamera Mowry, and online personalities Tyler “Ninja” and Jessica Blevins.
Hello Alice is a fintech firm that provides US small business owners and enterprise networks access to credit, grants, loans, and business planning services.
This new cash injection, which the firm claims boosts its valuation to $130 million, will be used to accelerate the expansion of its Small Business Funding Center and AI-driven financial health products.
Aico receives majority equity investment
Aico Group, which provides a financial closing platform for large enterprises, has received an undisclosed majority equity investment from California-based venture capital firm Accel-KKR.
Aico intends to use this funding to further develop its product offerings and drive its expansion across Europe, with a specific focus on the German, Austrian, and Swiss markets.
Headquartered in Helsinki, Finland, Aico offers a solution that automates the manual tasks involved in the financial close process. The fintech says that its platform is used by a number of prominent European firms, including AkzoNobel, SKF, International Airlines Group (IAG), Syngenta, and Outokumpu.
Maurice Hernandez, MD at Accel-KKR, says that the global software investor will bring more than just cash to the new partnership with Aico, stating the Finnish firm will have access to Accel-KKR’s “deep software and growth experience” to help take its “growth to the next level”.
US-based fraud prevention firm CertifID has secured an undisclosed amount of growth financing from CIBC Innovation Banking.
CertifID states the investment will be used to bolster its suite of wire fraud prevention products.
The start-up, which was founded in 2017, offers law firms, lenders, realtors, and other businesses a device verification and digital identity solution aimed at preventing wire fraud.
The recent financing adds to the $12.5 million raised by the company in its Series A round in 2022.
