ICYMI fintech funding round-up: Bling, CreditLogic, FreeBnk and Currensea
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 so you can get the latest funding news.
Bling lands $12 million Series A
Bling, a German family fintech app, has secured a $12 million Series A equity funding round spearheaded by San Francisco-based VC Owl Ventures.
The round, which brings Bling’s total raised to date to over $15 million, received additional backing from Neosfer, Commerzbank Group’s venture capital arm, along with existing investors Angel Invest and PEAK.
Founded in 2021, Bling provides “educational, family-friendly digital solutions” in the investment, payment, and mobile communications sectors, in an effort to enhance the financial and media literacy of German families.
The funding is anticipated to help scale the company’s market footprint in Germany and fuel its plans for a new insurance product.
Irish banking data processing firm CreditLogic has raised a €3.5 million funding round supported by US institutional investor Riverside Acceleration Capital (RAC).
CreditLogic says the funds will be put towards enhancing its capacity and satisfying its “international growth objectives”, having recently established a new office in Madrid, Spain.
In this, the company also reveals its plans to hire 15 new employees with a focus on AI, data science, engineering, and sales and marketing roles.
The latest financing adds to the €2.4 million bagged by the Irish company in seed funding back in 2020.
Established in 2018, CreditLogic offers a Software-as-a-Service (SaaS) platform that it claims can cut operational costs and simplify the “capture, processing and validation of client data for banks”.
FreeBnk bags $3 million
London-headquartered digital asset-focused fintech FreeBnk has landed $3 million in a mix of equity and token funding.
The round saw participation from ChaiTech Ventures, Founderheads, Lavender Capital and LVT Capital.
FreeBnk, which provides a financial services app for crypto investors, has earmarked the cash injection to drive “ongoing research and development to create a product that enhances accessibility, security, and customisation, tailored specifically to the needs of those new to digital asset investment”.
Commenting on its backing of the UK-based company, Sarunas Legeckas, general partner of Lithuanian VC firm Founderheads, states: “In today’s changing financial sector, empowering users with the ability to manage their assets securely and freely is essential. FreeBnk’s commitment to decentralisation aligns with our vision of reshaping how users interact with digital assets.”
Currensea has exceeded its initial £1 million Seedrs crowdfunding target by raising over £1.7 million from a group of 760 investors, valuing the UK-based fintech at £28.5 million.
The raised funds, which add to the £1.35 million secured from more than 350 investors through the Seedrs platform, will support Currensea’s co-brand offering and the acquisition of new customers.
Founded in 2018, Currensea aims to assist customers to save money when travelling. It claims that its card offering can save individuals “at least 85% on every overseas transaction by cutting out the normal fees leveraged by banks and other providers”.
Last year, the company partnered with animal welfare charity Dogs Trust to introduce a debit card that enables users to make donations each time they make purchases at home or abroad.
