ICYMI fintech funding round-up: Habitto, Norbr, Tembo, 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.

Tembo lands £14 million

Tembo, a UK-based digital savings and mortgage platform, has raised £14 million in a Series B funding round led by Goodwater Capital.

The round also saw participation from Tembo’s existing backers Love Ventures, Aviva, Ascension Ventures, and McPike Family Office.

Since its founding in 2020, Tembo claims to have helped 4,000 first-time buyers purchase homes and 35,000 future buyers save for a deposit using the Tembo Lifetime ISA.

Richard Dana, co-founder and CEO of Tembo, says: “We founded Tembo to help make homeownership happen for the hundreds of thousands of people who have been locked out of the property market in the UK.”

The new funding will be used to support the growth of Tembo’s savings app and the launch of new products.

Habitto, a Japan-based digital bank, has bagged $11.7 million in a Series A funding round.

The round was led by new backers QED Investors and DG Daiwa Ventures (DGDV) with additional support from Scrum Ventures, Anthemis Group, and others.

Founded in 2021, Habitto aims to end financial anxiety among Japan’s younger generations by offering a mobile app that provides access to savings, investments, and life insurance products.

Habitto, which secured $3.9 million in a pre-Series A funding round last year, plans to use its latest capital infusion to strengthen its digital banking platform, develop advanced financial tools, and grow its user base.

TBC UZ secures $10 million

TBC Bank Uzbekistan (TBC UZ), the country’s largest mobile-only bank, has landed a $10 million investment from the Global Gender-Smart Fund (GGSF) via Dutch impact investor Triple Jump, a portfolio manager of GGSF.

TBC UZ says the GGSF “aims to address the estimated $1.7 trillion gender gap in access to financial services globally by unlocking responsible financial services for underserved women, women-owned, and women-led businesses in developing markets”.

It adds that the investment will be used to “further expand TBC UZ’s efforts to provide loans to women and women-led businesses”.

TBC UZ, a subsidiary of London-listed TBC Bank Group, says it achieved profitability just two years after its launch, with a user base of over 17 million registered users.

Earlier this year, TBC UZ secured a $38.2 million equity investment, with $23 million coming from its parent company, TBC Bank Group, while the European Bank for Reconstruction and Development and the International Finance Corporation each contributed $7.6 million.

Capitolis, a US-based capital markets fintech, has landed a series of strategic investments from four global banks.

The funding includes contributions from Citi, State Street, Morgan Stanley, and UBS, with each bank committing $5 million.

According to a statement, Capitolis plans to use the capital to drive growth in both its capital marketplace and portfolio optimisation divisions.

In 2022, the company secured $110 million in Series D funding, bringing its valuation to $1.6 billion at the time.

Norbr lands €3 million

Dutch Payment Infrastructure-as-a-Service (IaaS) provider, Norbr, has secured a €3 million funding round led by German venture capital firm Alstin Capital, with participation from previous backer Portfolion.

Headquartered in Amsterdam, Norbr provides a no-code white-label solution for payment operators, offering features such as smart checkouts, data insights, and API-driven services.

With this investment, Norbr aims to enhance its compliance features and accelerate omnichannel solutions development, while expanding its workforce to boost platform and client support capabilities.

Springtime Technologies, an Austrian accounts payable automation software company, has bagged an undisclosed sum of funding from London-based investor Scottish Equity Partners.

Founded in 2004, Springtime’s flagship offering, Invoicetrack, leverages AI-driven matching engines to automate data extraction to simplify finance and operational workflows.

The company, which has maintained profitable growth since its founding, now boasts a team of over 190 employees.

Springtime plans to use the capital to enhance its products and expand its global market presence.

Wahed secures investment from QDB

Wahed, a Shariah-compliant digital investment platform, has landed an undisclosed sum of investment from the Qatar Development Bank (QDB).

Founded in 2015 and headquartered in London, Wahed is a digital platform offering a range of ethical and Shariah-compliant investment products as well as venture capital and real estate investments.

Wahed claims to have gained over 400,000 clients globally since its inception and currently manages assets exceeding $1 billion.

Speaking on its new shareholder, Khalid Al Jassim, executive chairman of Wahed MENA, says: “We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba.”