ICYMI fintech funding round-up: Safty, Ozone API, WealthKernel and Karty
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 for you to get the latest funding news.
Danish fintech start-up Safty has secured €11.3 million in an investment round led by Upfin and featuring participation from a number of “experienced finance professionals”, including Danske Bank board member Jacob Dahl.
Safty raises €11.3 million
Dahl, who was recently appointed as chairman of Safty’s board, says the start-up is “a potential game-changer in how we approach data and customer insights within the financial sector in the future”.
The start-up claims to have built a solution that utilises machine learning to aggregate customer data “to accurately identify current and future needs of customers for banks, insurance companies and pension funds”, enabling institutions to offer more personalised experiences and predict customer needs.
Safty says the new capital will be used to boost its product development and fuel its growth in both domestic and international markets.
UK-based open banking tech provider Ozone API has bagged £8.5 million in a Series A funding round led by Gresham House Ventures.
Founded in 2017, the start-up provides an API platform built to help financial institutions quickly and easily tap into open banking and accelerate their implementation of open APIs capable of meeting regulatory and commercial requirements.
Ozone API plans to funnel the fresh funds into growing its team and further developing its technology with the aim of supporting “all emerging standards” and providing “the tools for banks to monetise open APIs”.
Digital investment solutions provider WealthKernel has raised £6 million in a Series A extension round led by existing backer ETFS Capital with additional participation from investors including XTX Ventures.
WealthKernel lands £6 million in Series A extension
Founded in 2015 and based in London, UK, the start-up initially raised around £4.7 million through a Series A funding round back in 2020, which was led by ETFS Capital and followed by a £5.5 million extension round in early 2022, led by XTX Ventures.
WealthKernel provides investment infrastructure for companies looking to offer digital investment services. Its offering can be connected via API to enable firms to quickly launch client onboarding, brokerage, trading and custody services.
CEO Karan Shanmugarajah says the new capital comes “at a time of rapid growth” for the start-up following its recent entry into the US equities market, adding the cash will “help fuel our commitment to strengthening our market presence”.
Qatari fintech start-up Karty has secured $2 million in a seed funding round featuring participation from “a variety of local investors”.
The cash injection comes ahead of the fintech’s planned launch, which it says is “expected as soon as the final approval and licensing from the Qatar Central Bank are attained”.
Founded in 2021 and incubated within the Qatar Fintech Hub, Karty has been developing a new e-wallet offering which will enable individuals and companies to manage their money and savings through a user-friendly app.
The fintech says the app will support features including “comprehensive income control, peer-to-peer transactions, budget setting and expense tracking”.
