Welcome to your daily FinTech news!
- Traction and monetization matter. Your startup might have more of one than the other, and that's OK. But less of one means you need more of the other. That's just math. How much more? It turns out – more than you think. Article by Nnamdi Iregbulem from Lightspeed Venture Partners. Link here.
- Some SMEs don’t want to get (or have access to) equity funding, but also want to stay away from high-interest bank loans. That’s the gap that revenue-based financing platforms like GetVantage want to fill. The Mumbai-based startup announced that it has raised $36 million in equity and debt led by Varanium Nexgen Fintech Fund, DMI AIF - The Sparkle Fund, along with returning investors Chiratae Ventures and Dream Incubator Japan. Varanium Capital partner Aparajit Bhandarkar will join GetVantage’s board. Link here.
- Top 10 VC firms have ownership in 38% of all unicorns🦄 Venture capital firms that have ownership in a large number of unicorns are pouring money into two sectors — internet services and FinTech. To find out more about what most venture capital firms invest in, BestBrokers analyzed the recently published research from CB Insights. Link here.
- April (getapril.com), a personal income tax platform that embeds into digital financial apps, has raised $30 million in a Series A round of funding with backing from Treasury, a fintech infrastructure-focused fund established by the founders of Betterment and Acorns. Link here.
- Neomoon closed its $850k seed funding. The company intends to use the funds to scale its solutions in the coming months. Led by Fedor Saldivia, CEO and founder, Neomoon is a digital bank in US dollars, aimed at offering solutions to all Latin Americans who want to protect their money from devaluation, offering the possibility of making day to day transactions. Link here.
- NatWest Business has taken to video app TikTok for a campaign aimed at reaching budding entrepreneurs. The UK bank has called in VaynerMedia London for the campaign promoting its free Business Builder online toolkit, which offers digital and event-based learning modules covering things such as sustainability, business strategy, and mindset. Link here.
This ends Your Daily Fintech News. Let me know if there are any questions or comments. Until the next!
