ICYMI fintech funding round-up: Sourcefin, Volume, Leap Financial, and Juicyway
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.
Sourcefin bags around $8.1m
South African fintech Sourcefin has secured an investment of approximately $8.1 million (ZAR 150 million) from Futuregrowth Asset Management through its High Growth Developmental Equity Fund (HGDEF).
Founded in 2020, Sourcefin operates a financing platform tailored for small, medium, and micro-sized enterprises (SMMEs), offering services such as supply chain management, purchase order funding, and invoice discounting.
“With the support from Futuregrowth, Sourcefin’s ability to scale investment into the SMME sector significantly increases, and it is our commitment that all ZAR 150 million will be deployed as a reinvestment into the backbone of our economy,” states Joshua Kadish, co-founder, director and CEO of Sourcefin.
Volume, a London-based one-click checkout fintech, has bagged $6 million in a seed round led by Italian venture capital firm United Ventures.
The round also featured participation from Fabrick alongside existing backers Haatch, Firstminute Capital, and SeedX.
Founded in 2021, Volume offers a payments platform that includes account-to-account (A2A) solutions, cashflow dashboards, FX capabilities, and verification and refund tools.
In a statement, lead investor United Ventures says the funding will accelerate Volume’s growth “across the UK and Europe while positioning them to capitalise on potential regulatory shifts, such as opening access to NFC technology currently controlled by Apple“.
Leap Financial raises $3.5m
Miami-headquartered paytech Leap Financial has raised $3.5 million in a seed round led by Fuel Venture Capital and Ascendo Venture Capital.
Founded in 2018, Leap offers a suite of embeddable payment services, including an embedded remittance solution that facilitates instant domestic and cross-border payments.
Leap says its tech enables “financial and non-financial institutions to participate in cross-border money flows, eliminating inefficiencies and helping immigrants send money home”.
The company has also developed a proprietary AI assistant called Lola designed to support recently arrived immigrants to the US.
The seed round will enable Leap to expand its embedded services and further develop its AI-powered technology.
Juicyway, a Nigerian payments start-up, has emerged from stealth with a $3 million pre-seed round led by P1 Ventures, a San Francisco-headquartered venture capital firm.
The round featured additional backing from Future Africa, Magic Fund, Ventures Platform, Microtraction, and a consortium of angels.
Founded in 2021, Juicyway offers a cross-border payments solution built to enable businesses and individuals to send, receive, and process payments globally.
The platform supports fiat currencies like the US and Canadian dollar and the Nigerian naira, alongside cryptocurrency payments. Juicyway claims to have already processed $1.3 billion across 25,000 transactions.
The investment will be used to drive the company’s expansion into new markets.
