B2B Payments

Logistics FinTech Leads Quiet Week In B2B Funding

Logistics, Supply Chain FinTech Leads B2B Funds

Robinhood's $200 million fundraise this week may be the talk of the FinTech town, but B2B FinTechs saw their fair share of fresh investments, too.

In the U.K., six FinTechs were able to secure a share of the next round of RBS grant money, with the winners including small business banking and biometrics company Onfido. When it comes to venture capital, this week's roundup includes new investments in B2B FinTechs targeting the logistics and supply chain spaces, cybersecurity and more, totaling more than a combined $109 million.

Hammock

With $1.31 million in new funding, U.K.-based Hammock is helping landlords manage cash flow by offering a FinTech platform to streamline rent payments and manage bookkeeping. The company secured the investment from Ascension Ventures and Fuel Ventures, reports said. Hammock plans to use the investment to expand its financial services offerings to include lending and current accounts for its landlord customers.

Axle

Freight broker financing startup Axle announced $27.7 million in funding this week led by Anthemis and Techstars, the company said. Axle offers cash flow management solutions to freight and logistics companies through a combination of financing and back-office automation solutions to help industry players manage cash flow through supply chains. The funding, which comes in the form of debt and equity, will go toward expanding the company's team, further developing its product and expanding its financing and workflow automation offering into new markets.

SpyCloud

As a cybersecurity company focused on anti-fraud solutions, Austin-based SpyCloud aims to prevent account takeovers to protect consumer and corporate employee accounts. The company announced $30 million in Series C funding led by Centana Growth Partners, while M12, Altos Ventures, Silverton Partners and March Capital Partners all returned to participate in this round. SpyCloud said it will use the investment to grow its product and engineering teams, as well as to further product development to create new ways of detecting and preventing fraud.

Attabotics

Canada's Attabotics secured $50 million in Series C funding, the firm recently revealed, led by the Ontario Teacher's Pension Plan Board, while existing investor Honeywell also participated. Attabotics offers supply chain robotics technology by reimagining and reconstructing the traditional fulfillment center. The company wields 3D technology to restructure those centers, using proprietary designs to make the most of vertical and horizontal space and allow for greater logistics efficiency. The company said it will use the funding to accelerate commercial deployment, invest in additional technology and scale its manufacturing operations, a press release said.

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