North America fintech funding round-up: CoreChain, OneVest & Crowdz
This week’s handy Friday funding round-up includes three North America-based fintechs – CoreChain, OneVest and Crowdz.
Digital B2B payments network CoreChain Technologies has secured $4.2 million in seed financing.
CoreChain secures $4.2 million in seed financing
The round was led by Ulu Ventures and saw participation from existing investors Connecticut Innovations, Bloccelerate VC and New Form Capital, as well as new investors Motivate Venture Capital, SaaS Venture Capital, Next Coast Ventures and Angeles Investors.
The Connecticut-based firm has raised $5.5 million in total funding, including $1.25 million in pre-seed funding announced in August 2021.
CoreChain enables enterprise resource planning or Business Process Automation software companies, as well as banks and fintechs, to offer blockchain-based B2B payments and financing solutions to their enterprise clients.
Since its launch in September 2020, CoreChain has processed more than $1 billion in B2B payments for enterprise buyers, including channel customer transactions.
“The seed funding will allow us to greatly accelerate all areas of the business – from product development to sales and marketing – and continue to grow our payments volume,” says CoreChain founder and CEO Chris Aguas.
Calgary-based wealthtech OneVest has secured $5 million in venture financing.
OneVest founders Jakob Pizzera, Nathan Di Lucca and Amar Ahluwalia
OneVest provides digital wealth management services that can be embedded in consumer-facing products via a set of simple APIs, allowing for a digitally-native user experience for personalised wealth management.
The round was led by Luge Capital, a fintech-focused venture firm, and saw participation from OMERS Ventures, AAF Management, FJ Labs, National Bank of Canada’s corporate venture capital arm NAventures, Panache Ventures and strategic angels.
The Wealth-as-a-Service (WaaS) platform says the funds will be used to expand the team, grow sales and drive product development.
SME finance platform Crowdz has secured $10 million in fresh funding in a round led by Citi and Global Cleantech Capital with participation from Bold Capital Partners, TFX Capital and Augment Ventures.
Crowdz co-founder and CEO Payson Johnston
Citi’s investment was led by the Spread Products Investment Technologies (SPRINT) team, the strategic investing arm of the bank’s Global Spread Products division.
This latest investment brings Crowdz’s total capital raised to $25.5 million.
California-based Crowdz integrates with SMEs’ accounting, payment processing and banking systems to allow them to get paid early at competitive rates.
Co-founder and CEO Payson Johnston says: “This investment from our partners, including Global Cleantech Capital, signifies a new phase of growth for the company, which will allow us to expand working capital access for SMEs.”
