ICYMI fintech funding round-up: Plumery, Concreit, Connected Data, 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.
Plumery lands $3.3 million
Dutch fintech Plumery has bagged $3.3 million in funding from early-stage investor DN Capital and QED Investors’ seed-stage fund Fontes.
The latest financing adds to the firm’s $4.5 million seed round closed in April 2023, with the company preparing for a “larger Series A round in 2025”.
Founded in 2022, the start-up offers a cloud-native digital banking experience platform. The firm claims its solution allows for the development of mobile and web banking interfaces on both modern and legacy core banking platforms at a lower cost and at “80% greater speed than traditional approaches”.
The cash injection has been earmarked for product development, boosting sales and marketing initiatives, and improving global partner management.
In addition, Plumery hints that the funds will be utilised to expand its workforce in product development, engineering, and commercial roles.
Amlyze, a Lithuanian regtech, has secured €2.35 million in seed funding, adding to the firm’s $1 million pre-seed raise in 2023.
This latest round was led by returning backer Practica Capital, alongside FIRSTPICK, Coinvest Capital, Advanzia Bank and NGL, a Lithuanian business angel syndicate comprising 33 business angels, among others.
Founded in 2019, Amlyze provides anti-financial crime solutions for crypto firms, fintechs and neobanks, including customer risk assessment, anti-money laundering (AML) investigations, and real-time and retrospective transaction monitoring.
The company says the new capital will be used to “accelerate the development of the world’s first cross-border information-sharing platform for anti-financial crime, leveraging artificial intelligence and synthetic data”.
Connected Data bags £2.2 million
UK-based data-driven fintech Connected Data has landed a £2.2 million funding round led by Scottish venture capital firm Maven Capital Partners.
Connected Data, founded in 2020 by former Experian executive Kirk Fletcher, provides a variety of cloud-based data services that integrate advanced business intelligence, analytics, and AI with predictive data solutions to “transform the entire debt management process”.
The investment will be used to advance the company’s platform and scale its operations.
Connected Data claims that this funding follows an eightfold increase in revenue between 2022 and 2024.
86400, an Indian paytech formerly known as Mobileware Technologies, has secured an investment of $1.8 million (INR 15.6 crore) from Zaggle, a Software-as-a-Service (SaaS) fintech based in Hyderabad.
Founded in 2010, 86400 offers digital payment solutions, including NPCI-certified UPI, IMPS, BBPS and AePS switches.
The funding has been designated to enable the company to expand its workforce and develop new product offerings.
Furthermore, this investment aims to enhance 86400’s flagship API banking platform, TransXT, which reportedly supports over 80 banks and 20 fintechs, and provides integration either through direct banking relationships or system integrator (SI) partnerships.
Concreit lands an undisclosed investment
Concreit, a Seattle-based wealthtech company, has secured an undisclosed investment from CU WealthNext.
Founded in 2018, Concreit offers a mobile-first platform for fractional real estate investing, and currently serves over 40,000 customers.
According to CU WealthNext’s statement, this investment signals a new partnership between the two, with CU WealthNext set to integrate Concreit’s offering to “enhance credit union members’ access to a diverse range of real estate investment products customised to fit individual financial goals and risk tolerance”.
Sean Hsieh, CEO of Concreit, says that the new collaboration will enable to the firm to “democratise investment opportunities for credit union members and deliver financial solutions designed to meet the evolving needs of everyday investors”.
