This week’s handy fintech funding round-up includes five European start-ups: Merge, Kapaga, Beanstalk, ecolytiq and Debite.
Banking and payments platform for crypto and web3, Merge, has raised $9.5 million in a funding round led by Octopus Ventures.
Other investors include Hashed, Coinbase Ventures, Alameda Research and Ethereal Ventures, alongside a number of angel investors.
Through a single API, Merge provides crypto and web3 companies with banking and payments solutions enabling them to create bank accounts, send payments and seamlessly convert funds between fiat and crypto.
UK cross-border payments platform for small and medium-sized enterprises (SMEs) Kapaga has raised £1.5 million in a seed round led by Target Global with participation from a number of angel investors.
Launched in 2021, Kapaga offers cloud-based payments services for SMEs and start-ups, allowing companies “transparency and efficiency” in facilitating cross-border payments to more than 190 countries in various currencies.
“Our value lies in our ability to remove hurdles when it comes to opening business bank accounts and offering payment services at a fraction of the cost versus high street banks and legacy providers,” says Katya Dorofejeva.
“We aim to board and activate customers in under 48 hours, start to finish. All of this is now available through one application and one dashboard to stay in control of your payments.”
Beanstalk, an app that allows families to invest for their children’s future, has secured a “six figure” sum in a crowdfunding round to further its market reach.
Beanstalk raises “six figure” sum
Launched in 2020, Beanstalk claims to have recorded 350% growth in assets under management, with more than 12,000 users registering on its platform.
Through its new crowdfunding campaign, Beanstalk aims to raise investment primarily to build scale through customer acquisition and partnerships.
The company says it will also invest in product development and growing its team.
Berlin-based sustainability solution provider ecolytiq has raised €13.5 million in a funding round.
Investors include Visa, PwC Germany through a fund managed by Segenia Capital, VCM Global Asset Management and btov.
The firm says that the new capital will be used to further develop the product and expand the markets they operate in.
Founded in 2020, ecolytiq works in partnership with Visa to offer banks and financial institutions the technology to educate and support consumers to manage their environmental impact.
The firm’s solution leverages payment data to provide customers with data-driven CO2 analysis, context, engagement, offsetting and sustainable investment advice.
Financing platform Debite has launched in the UK following a £2.5 million pre-seed round.
Built with the intention to solve cashflow problems in start-ups and early stage companies, Debite offers products that include easy-access loans and corporate credit cards.
In addition to its £2.5 million pre-seed equity funding round, it has also secured debt financing from fintech funds and angel investors.
Debite is headquartered in London and the company plans to initially focus on the UK.
