Fintech funding round-up: 3 March 2017
Fintech funding without the tub-thumping. A realistic and brief round-up of key events. Featuring WhenFresh, Euronext, Algomi and Sensibill.
Prepare for a tornado of tech terms. UK-based WhenFresh, which calls itself a “proptech” and fintech firm, has completed a £3 million Series A investment round. The company uses predictive customer analytics to help businesses “identify the likely future purchases of their consumers and plan the right time to engage with them”.
The round was fully subscribed by CLS Data, part of the CLS Group – which works in the insurtech and fintech sectors. CLS provide solutions combining data, technology, insurance and legal knowledge for UK and European residential and commercial markets. Tech that.
Pan-European exchange Euronext has expanded its joint venture (JV) and a $10 million investment in a minority stake in fixed income technology provider, Algomi. As Banking Technology reported late last year, Euronext announced it will use Algomi’s tech for its new multilateral trading facility in a ten-year partnership.
This new deal gives corporate bond traders access to Algomi’s bond information network on a global basis and exchange risk “more efficiently by identifying the most appropriate counterparty”. Also, Euronext is working to establish an automated trading system in North America, while discussions are already under way in APAC.
Toronto-based firm Sensibill has raised a $17.3 million Series A in a round led by OpenText Enterprise Apps Fund and Information Venture Partners. The firm lets users manage their receipts through their mobile banking app. Back in 2015, it raised a $2 million seed round.
Last year, it launched its core product, a receipt management service, with Scotiabank and TD Canada Trust’s mobile wallet app UGO Wallet. Sensibill says these latest funds will enable it to continue developing a system that can structure data from merchant receipts and return insights to consumers and businesses.
