ICYMI fintech funding round-up: Fundcraft, Volta, Swypex, SAVR 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.
Fundcraft bags €5 million
Fundcraft, a supplier of digital infrastructure for asset management firms, has closed a €5 million Series A funding round.
The round was led by Swiss VC Aperture Capital with support from SIX Fintech Ventures, the CVC division of SIX Group, alongside other early backers.
Founded in 2020 and based in Luxembourg, Fundcraft claims its solution brings together transfer agency, compliance, corporate secretary, reporting, fund accounting, and portfolio management into a single system, delivering “an end-to-end digital infrastructure that enhances transparency, efficiency, and compliance for asset managers”.
The new cash injection has been earmarked for product development and to help fuel the company’s planned international expansion.
The start-up currently caters to asset managers overseeing Luxembourg-domiciled funds. However, it intends to enter new markets, such as Spain and Germany, in the near future.
US-based fintech Volta has secured $4.1 million in seed funding from Fika Ventures and Haven Ventures.
The round saw additional participation from Dispersion Capital, Uphonest Capital, and Soma Capital, with the cash set to be used to support the launch of the company’s flagship offering, Volta Circuit.
Co-founded by George Melika and Daniel Kim in 2022, the company says Volta Circuit is a smart contract multi-signature wallet solution built for the digital asset industry.
Melika, Volta’s CEO, claims that Volta Circuit is the “only solution” that offers financial institutions “direct control” of a scalable infrastructure designed to help users “build and scale digital asset businesses and trading operations without the limitations or costs of a centralised platform”.
Swypex’s founders: Ahmad Mokhtar (CEO), Tarek Mokhtar (CPO), and Sasan Hezarkhani (CTO) (Image: Swypex)
Egyptian start-up Swypex has secured $4 million in a seed round led by US venture capital firm Accel, marking the VC’s first investment in a MENA-based fintech.
The financing round has also been supported by The Raba Partnership, Foundation Ventures, and several angel investors.
Founded in 2022, Swypex currently offers a business banking service to Egyptian companies which includes invoice management, corporate cards, and expense management tools.
The firm intends to use the new funds to expand the technical capabilities of its platform.
Denmark’s Danske Bank has become the third institutional investor in global acquisition platform United Fintech, securing the bank a rotating board seat.
The Nordic bank’s undisclosed backing of United Fintech adds to the investment made in the company by BNP Paribas and Citi in March.
Founded in 2020, United Fintech looks to grow B2B capital market fintech businesses through its in-house commercial, operational, marketing, and sales teams.
Danske Bank will seek to benefit from its new partnership with United Fintech by tapping into its Digital Transformation Platform to support its Forward ’28 growth strategy.
Christian Frahm, United Fintech’s CEO and founder, says that the company is also in “advanced talks” with further strategic investors to join its “transformative journey”.
SAVR receives investment from Incore Invest
Swedish fintech start-up SAVR has secured an undisclosed investment firm Incore Invest.
This investment will enable SAVR to accelerate the launch of its new investment platform, which will include mutual funds, equities, and ETFs.
SAVR says its new equities trading solution will provide stock trading opportunities across 17 markets, featuring automatic commission structures, real-time data access, AI-driven tools, and low currency conversion fees.
Launched in 2019 and headquartered in Stockholm, Sweden, SAVR’s original open fund platform has recently celebrated surpassing over 100,000 users.
