VC FinTech Funding Sets Sights On ‘Alternative’ Data

If data makes the world go ’round, so, too, does it garner investor interest, as evidenced by venture capital and other investors’ funds coming into the coffers of corporates that scrape the web for information.

Thinknum

Thinknum, which provides web-sourced alternative data, has garnered $11.6 USD in series A funding from a consortium of investors, including Green Visor Capital. The latter firm had been one of the investors in the original $1 million seed round raised by Thinknum in 2014.

As noted by VentureBeat, the five-year-old firm has been profitable since 2016.

The money raised will help Thinknum expand its business, said the publication, and to “help educate the market on the power and uses of alternative data.” As the report noted, alternative data spans a range of public company information that comes from the internet, such as data that can be traced to regulatory filings.

VentureBeat referenced a report by Greenwich Associates, which found that 50 percent of institutional investors will look to increase their usage of alternative data in the coming year.

Green Visor also registered with the Securities and Exchange Commission (SEC) to raise up to $100 million for a venture capital fund.

AppDetex

Separately, in other funding news, AppDetex, which focuses on risk protection tied to intellectual property and brand infringement, said this past week that it has raised $10 million in Series B equity financing to expand its sales and marketing efforts and to fund product development.

The company said in a press release that the funding round was led by VC firm First Analysis and featured participation by EPIC Ventures and Origin Ventures. The total amount raised, including the latest announcement, comes to $17.5 million.

The company’s solutions help other firms protect against counterfeiting, piracy and unauthorized trademark use.

Mojo Vision

Mojo Vision said it has raised $58 million in a Series B round that is focused on developing its augmented reality platform. The company said the technology is tied to “invisible computing” that lets users access healthcare and other information.

According to a company statement, the new round has brought the firm’s total fundraising to more than $108 million. The latest move brings in funding from Advantech Capital, Gradient Ventures and others.

An Acquisition in Africa

In Africa, and in a different form of investment activity – this time through acquisition – Lagos FinTech startup OneFi said it will acquire Nigerian FinTech Amplify for an undisclosed amount.

According to the report, OneFi will acquire the IP, team and client network of over 1,000 merchants to which Amplify provides payment processing services, OneFi CEO Chijioke Dozie said in an interview.

“The move comes as FinTech has become one of Africa’s most active investment sectors and startup acquisitions – which have been rare – are picking up across the continent,” said the report.

The move signals OneFi’s continued move away from its previous focus on lending services and an evolution into an online consumer finance platform.

“We’re not a bank, but we’re offering more banking services … Customers are now coming to us not just for loans, but for cheaper funds transfer, more convenient bill payment and to know their credit scores,” said Dozie.

OneFi had previously secured a $5 million lending facility from Lendable and struck a payments partnership with Visa.