ICYMI fintech funding round-up: Layer2, Qardy, United Fintech, Minos, 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 so you can get the latest funding news.
Layer2 lands $10.7 million Series A
Layer2 Financial, a Canadian payments infrastructure start-up, has bagged $10.7 million in a Series A funding round.
The round was led by Californian VC firm Galaxy Ventures with additional participation from Accomplice.
Founded in 2021, Layer2 provides a multi-partner platform offering fintechs, neobanks, and payment processors fully compliant collections, FX, payouts, and cross-border payment services.
Layer2 intends to leverage the new funds to drive its market expansion, product development, and future talent acquisition.
Australian start-up Rich Data Co (RDC) has extended its Series B funding round, securing a $9 million investment from Acorn Capital.
RDC’s platform enables banks to apply explainable AI (XAI) throughout their risk decisioning processes to gain comprehensive insights into borrowers’ behaviours.
The latest capital infusion, which adds to the $17.5 million Series B round it raised last December, will be used to support the firm’s expansion into North America.
This expansion began promptly with RDC’s agreement with Buffalo-based M&T Bank to deploy its AI-powered decisioning offering in May, marking the company’s first client win in the US.
In addition, the fresh funds will support RDC’s continued AI product development.
Mintos secures $3.1 million Crowdcube campaign
Mintos, a Latvian multi-asset investment platform, has concluded a €3.1 million Crowdcube crowdfunding campaign.
The company says the fundraise is the “second largest campaign on Crowdcube in the EU for the current year so far”.
The 14-day campaign, which attracted 3,300 investors from over 55 countries, follows Mintos’ previous 2020 Crowdcube campaign, which saw the company raise €6.5 million.
Founded in 2015, Mintos’ platform, which it claims offers a “unique mix of alternative and traditional assets”, currently serves over 500,000 registered users and manages more than €600 million in assets.
The investment will be used to drive Mintos’ growth initiatives, including the introduction of new products, upgrading its platform offerings, and its impending EU expansion.
