B2B FinTechs this week scored more than $137.5 million for their technologies, which ranged from cybersecurity solutions to supply chain analytics. Several investments highlighted the opportunity for FinTech startups and their investors to help businesses through the pandemic, with outfits focused on digitizing B2B commerce and company payments raising some of the highest funding rounds of the week.
Based in Pakistan, B2B eCommerce marketplace Dastgyr announced a fundraise, though would only confirm the investment landed at six figures. The company secured the funding from backers in the U.S., Pakistan and the Middle East. Reports in Pakistan Today said the company plans to deploy the angel funding towards scaling its operations after launching last May with a focus on helping businesses of all sizes digitize.
B2B marketing software solution provider CaliberMind secured a $2 million seed investment, reports in MarTech Series said this week. The company operates a software for B2B marketers to optimize revenue growth through customer data analytics, which provides insights into buyer experiences to enhance marketing ROI. Investors at Newark Venture Partners and Falmouth Ventures led the round, according to reports. The company didn't provide details as to how it plans to use the funding.
With $3.55 million in seed funding, Sweden-based Open Payments will expand its team and launch its operations in the Nordic and European markets, beyond its existing markets of Sweden and Finland, according to EU Startups reports. Open Payments operates an open banking platform with PSD2-compliant API services that allow business customers to integrate with banks and third party FinTechs. This platform allows users’ third party partners to create their own financial services products.
Enterprise intelligence startup Craft announced a $10 million Series A investment round led by High Alpha Capital. Greycroft, Uncork Capital and industry executive leaders also participated, a report in AiThority said this week. Craft said it will use the investment to build out a platform that connects business users to intelligence and analytics focused on their supply chain operations, noting that the pandemic has caused significant disruptions in B2B trade. By enhancing visibility into their supply chains, organizations are better able to mitigate risks and address issues before they arise.
Iceland landed on the board this week thanks to GRID, a Software-as-a-Service startup that raised $12 million in Series A funding for its data analytics technology. GRID aims to replace spreadsheets within Excel and Google Sheets to turn workbooks into interactive digital documents. Investors at New Enterprise Associates led the round, while existing backers BlueYard Capital, Slack Fund, Acequia Capital and other investors also participated. GRID plans to use the funding to fuel its go-to-market strategy and accelerate product development, it said in a press release.
Cybersecurity outfit Socure announced a new round of funding to the tune of $35 million led by Sorenson Ventures. Additional investors included existing backers Commerce Ventures, Scale Venture Partners and Flint Capital, while new investors came in from Citi Ventures, Wells Fargo Strategic Capital and MVB Financial Corp. Socure said it plans to deploy the investment to enhance its machine learning capabilities and broaden its mission to combat identity fraud.
With a $75 million Series B investment round, electronic payments startup Finix has landed at the top of this week's venture capital roundup. The company works with other businesses to help them transition to electronic payments, and said the new investment will go towards new hires and towards accelerating its efforts of “turning all software companies into payments companies.” Investors at Lightspeed Venture Partners led the investment, while American Express Ventures also participated, reports said.