ICYMI fintech funding round-up: Lemon.markets, Trustap, Adfin, Accend 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.
Lemon.markets lands €12 million extension
German fintech Lemon.markets has bagged a €12 million seed extension led by CommerzVentures.
The round, which was supported by Creandum, Lakestar, Lightspeed, Heliad, and System.one, adds to the firm’s €15 million seed funding round secured in 2022.
The company offers a Brokerage-as-a-Service platform built to enable fintechs, banks, and wealth managers to offer their customers access to capital markets.
The Berlin-based firm says it “supports partners along the entire value chain – from migration projects to the launch of individual investment products”.
Its stock-trading infrastructure solution is currently available in Germany, with plans to expand across Europe in 2025.
“With the fresh funding, we will double down on the momentum in the market, bringing more partners and products live over the coming months,” states company founder and CEO Max Linden.
Irish fintech Trustap has secured a $5.5 million Series A funding round led by Swiss venture capital firm TX Ventures.
The round featured additional participation from new shareholders Aperture, SeedX, and Partners Resolute and existing investors ACT VC, Atlantic Bridge, FurthrVC, and MiddleGame Ventures.
Founded in 2017, Trustap provides an embedded end-to-end transaction gateway that it claims allows consumers to pay “without the risk of being scammed”.
Along with fueling the firm’s global expansion, CEO Conor Lyden explains the funds will further Trustap’s plans to “invest in our go-to-market to ensure we make the most of some of the recent partnerships we have established”.
“We will also look at adding further features to cater for the wide range of use cases we deal with across both C2C and B2B marketplaces,” Lyden adds.
Adfin bags $4.9 million
UK fintech start-up Adfin has emerged from stealth with $4.9 million in seed funding with the aim to “build the best way for bills to get paid”.
The round was co-led by Index Ventures and Visionaries Club with additional backing from numerous business angels, notably Eugene Danilkis (Mambu co-founder); Guillaume Pousaz (Checkout.com founder); David de Picciotto (Pledge co-founder); and Josef Bovet (Tiller co-founder).
Founded by Tom Pope (CEO) and Ciprian Diaconasu (CTO), Adfin is developing an invoice management solution and payment system to simplify bill payments for businesses and consumers.
“Bill payments are still painfully manual for senders and payers. That’s why we’re on a mission to fix bill payments for everyone with Adfin,” says Pope.
Accend, a California-based risk assessment start-up, has raised $3.2 million in a funding round led by San Francisco-based VC Adverb Ventures.
The round was supported by General Catalyst, Y Combinator, and 645 Ventures along with several business angels from Carta, Brex, and Stripe.
Founded by Pranjal Daga and Yutong Pei, Accend aims to assist fintechs and FIs in enhancing the onboarding processes of their business customers through the implementation of AI.
It says risk and compliance teams can use its tech to “onboard good customers faster”, improve operational efficiency, and “proactively adhere to partner banks’ and regulators’ requirements”.
Care.fi lands $2.6 million investment
Indian healthcare fintech Care.fi has secured $2.6 million from Trifecta Capital and Bangalore-based UC Inclusive Credit.
The funding consists of $2 million in debt capital from Indian VC Trifecta Capital, supplemented by an additional $600,000 from UC Inclusive Credit.
Founded in 2021 and headquartered in Gurugram, Care.fi offers financing solutions to the healthcare sector, providing invoice discounting, business loans, and supply chain and equipment financing.
The cash injection will be used to expand its operations, scale its loan book size, and increase its staff headcount.
