Digital id and monetary companies go hand in hand, and this week’s featured offers and investor replicate this rising connection: Hummingbird raised $eight.2 million of Sequence A funding for its AML/CFT companies; Quantexa, which uncovers hidden buyer relationships to reduce fraud, received $65 million; and Plum, a private financial savings assistant reliant on open banking, introduced in $10.1 million.
The monetary inclusion motion is powerful sufficient to warrant funds devoted to enhancing the market phase: this week’s featured investor, Flourish Ventures, particularly invests in entrepreneurs whose applied sciences and improvements assist underserved and underbanked populations obtain monetary well being and prosperity.
The Prime Offers Lined by OWI this Week
Hummingbird hummingbird.co Based in 2016
Proprietor and operator of a finance firm meant to boost anti-money laundering and counter-terrorist financing investigations. The corporate’s companies scale back cumbersome paperwork, present insightful analytics, and allow collaboration for compliance professionals and regulation enforcement brokers, enabling customers to defend themselves towards cyber-financial crimes.
The corporate raised $eight.2 million of Sequence A enterprise funding in a deal led by Flourish Ventures on July 16, 2020. TTV Capital, Homebrew, Designer Fund, Lachy Groom, and Jon Zieger additionally participated within the spherical. The funds shall be used for the enlargement into new observe areas, together with transaction disputes and client protections in lending; proceed the corporate’s operational progress; and enter the European market, beginning with Eire and the U.Ok.
Quantexa quantexa.com Based in 2016
Developer of entity decision and community analytics know-how designed to enhance the standard of data-driven choices. The corporate’s know-how uncovers hidden buyer connections and behaviors whereas utilizing huge information and synthetic intelligence, thereby enabling purchasers to unravel main challenges in monetary crime, buyer insights, and information analytics.
The corporate raised $65 million (EUR 56 million) of Sequence C enterprise funding in a deal led by Evolution Fairness Companions on July 23, 2020. HSBC Strategic Innovation Investments, AlbionVC, Accenture Ventures, ABN AMRO Ventures, British Affected person Capital, and Daybreak Capital additionally participated within the spherical. The funds shall be used to speed up product innovation roadmap and allow the corporate to take a position additional into Europe, North America, and Asia Pacific areas, in addition to increase into new areas.
Plum withplum.com Based in 2016
Developer of a private saving assistant platform designed to simplify cash saving. The corporate’s synthetic intelligence and behavioral economics-based platform screens customers’ accounts frequently to be able to automate financial savings and investments in addition to offers actionable insights on expense administration, enabling customers to economize, scale back bills and handle their funds.
The corporate raised $10.1 million (EUR eight.7 million) of enterprise funding in a deal led by EBRD Enterprise Capital Funding Programme and World Mind on July 21, 2020. VentureFriends and the Authorities of UK additionally participated within the spherical. Of the overall quantity, $three.13 million (EUR 2.7 million) was raised within the type of convertible debt. The funds shall be used to assist the corporate’s exponential progress throughout Europe and additional develop its platform as the middle for folks’s monetary life.
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Flourish Ventures flourishventures.com Based in 2019
Based in 2019, Flourish Ventures is a enterprise capital agency primarily based in Redwood Metropolis, California. The agency seeks to spend money on the banking, client lending, information and analytics, digital funds, insurtech, private finance, regtech, and infrastructure sectors.
Energetic Portfolio – 29
Investments (TTM) – 19
Med. Spherical Quantity – $5.80M
Med. Valuation – $48.00M
# of Exits – 30
Deal Historical past
Previously 12 months, Flourish Ventures has invested within the following 9 id corporations:
*Supply: PitchBook Information Inc. with proprietary key phrase searches set by OWI Analysts