ICYMI fintech funding round-up: Authologic, Klasha, CardFlight, and Salt
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.
Authologic lands $8.2 million
Authologic, a Polish digital identity verification platform, has bagged $8.2 million in a Series A round led by Finnish VC firm OpenOcean.
The round saw additional participation from YCombinator, Peak Capital, and SMOK VC.
Founded in 2020, Authologic provides KYC and AML e-ID solutions designed to streamline and strengthen identity verification for global businesses and reduce the reliance on document images for digital ID verification.
With offices in Warsaw, San Francisco, and London, Authologic plans to use the funds to expand its international offerings.
Klasha, a San Francisco and Lagos-based paytech, has raised an additional $2 million to drive the company’s expansion into Asia, which includes the opening of a new office in Hangzhou, China.
The round was supported by existing investors Alumni Ventures, Breega, My Asia VC, Expert Dojo, Practical VC, Resilience17, and Magic Fund.
Founded in 2021, Klasha specialises in powering cross-border B2B payments between Asia and Africa through payout APIs, virtual multi-currency accounts, and cross-border wire services.
The funds add to Klasha’s $4.5 million seed funding round held in June 2022.
CardFlight bags new investment
CardFlight, a New York-headquartered paytech, has landed an undisclosed minority investment from Boston-based growth equity firm WestView Capital Partners.
Established in 2013, CardFlight is a Software-as-a-Service (SaaS) provider of point-of-sale (POS) solutions.
The company says its flagship product, SwipeSimple, serves over 125,000 small businesses across the US.
The cash injection will see CardFlight look to further upgrade its software services, advance its payment solution capabilities, and grow the number of US small businesses and merchant partners it supports.
Salt, a UK-based marine financing fintech, has launched its second funding round, aiming to support the company’s growth plans.
Founded in 2021, Salt offers a brokerage service providing loans starting from £100,000 with flexible repayment options, including balloon payments.
The start-up is also set to introduce its Boat Financing App, which will offer loans ranging from £10,000 to £250,000, with approvals granted within 24 hours.
In May, Salt was granted regulatory approval from the UK’s Financial Conduct Authority (FCA) and appointed Rob Cottingham as its new chief risk officer (CRO).
