Fintech funding round-up: 19 December 2017
The spirit of goodwill (and cash) rings in the air as we unveil another fintech funding round-up. Features Softbank, Lemonade, Amazon, Capital Float and Delio.
SoftBank is spreading the money around by leading a $120 million round in US-based insurtech firm Lemonade. It had raised $60 million before this latest announcement. The cash will be used to expand into global markets in 2018. It will also slightly increase its number of staff from the current figure of 60 employees.
As reported in October, the Lemonade platform opened up via APIs to support quoting, policy creation and payment for homeowners, condo, and renters insurance policies in the company’s active markets of New York, California, Texas, Illinois, New Jersey and Rhode Island. At that time, it said more regions will be added “in the near future”. It now has the money to do that.
Amazon interest in Capital Float?
Amazon is looking to expand its footprint in the fintech space and is in talks to invest in digital lending start-up Capital Float, two persons aware of the development told India’s Economic Times. The sources state that Bengaluru-based Capital Float, which has so far focused on small businesses, is also set to start consumer financing on Amazon’s platform, apart from the ecommerce seller financing it already does. Economic Times says it could not ascertain the deal size, but one of the persons cited earlier said Amazon is “likely to cut a small cheque”. (And we all thought cheques were out of fashion.) Unsurprisingly, Amazon and Capital Float declined to comment.
As reported in August, Capital Float got $45 million in its Series C round of funding led by US-based Ribbit Capital. This took the total equity investment in the company to $87 million.
Over in the UK, Delio, a white-label digital private market solutions provider, has raised £1 million in a further fund-raising round led by the Development Bank of Wales. Together with participation from new and existing private investors the investment supports Delio’s expansion plans in Europe, Asia, and the Middle East.
Delio says it has had a good year, such as partnerships including with Coutts, ING, and the UK Business Angels Association (UKBAA). Delio is also part of the FinTech Hive programme in Dubai. The firm has offices in Cardiff, London, Manchester, Brussels and Sydney and adds that it is recruiting for new team members.
