ICYMI fintech funding round-up: Twinco Capital, Architect and more
At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news.
Spanish fintech Twinco Capital has closed a $12 million equity and debt financing round led by Quona Capital.
Twinco Capital bags $12m
The funding round also saw participation from Working Capital, as well as existing investors Mundi Ventures and Finch Capital. Zubi Capital provided the venture debt portion.
Founded in 2019, the Amsterdam and Madrid-based fintech claims to be the first global supply chain finance solution provider that covers the production cycle from purchase order to final invoice payment. It engages with companies in retail and apparel sectors.
The funds will be used to accelerate the company’s expansion within the major sourcing countries and strengthen its technology and data capabilities, in particular in relation to environmental, social and governance (ESG).
Crypto trading infrastructure start-up Architect has raised $5 million in seed funding.
The funding was raised from Coinbase Ventures, SV Angel, Circle Ventures, P2P, Third King Venture Capital, Salt Fund and Motivate Venture Capital, alongside other angel investors.
Architect was founded by Brett Harrison, ex-president of the ill-fated crypto exchange FTX US. With Architect, Harrison aims to build “institutional-grade trading technology that streamlines crypto market structure, making it easier and safer for firms and large traders to access decentralised protocols and centralised exchanges alike”.
Swiss blockchain-based debt securities provider Obligate has secured $4 million in a seed extension round.
Obligate raises funds
The extended round saw participation from Blockchange Ventures and Circle Ventures, who join initial seed investors Earlybird and Six Fintech Ventures.
The total seed round funding now stands at $8.5 million.
Founded in 2019, Obligate’s platform allows firms to issue on-chain bonds and commercial paper to obtain funding from a range of investors “at a fraction of the cost and time” compared to traditional offerings.
The funding will assist the firm as it looks to scale its debt platform which is set to go live on the Polygon blockchain next month.
Dubai-based accounting platform Wafeq has bagged $3 million in a seed funding round led by Raed Ventures and Wamda Capital.
Built to cater to small and medium-sized businesses in the Middle East, Wafeq says the fundraise will fuel its entry into Egypt, while doubling down on its presence in Saudi Arabia and the UAE. It offers a cloud-based platform with solutions ranging from accounting to e-invoicing, taxation and employee payroll.
Launched in 2019, Wafeq initially focused on start-ups, but then expanded to include SMEs across industries.
US-based crypto integration platform Hatchfi has launched out of beta with $1.2 million in pre-seed funding and a roster of more than 30 clients.
The round was led by Golden.com CEO Jude Gomilla, Delta Blockchain Fund, OrangeDAO, as well as other angel investors. Hatchfi says the funds were used for development and early access launch.
The start-up’s platform allows users to “seamlessly” connect crypto accounts to any app “like they would a bank account”.
Hatchfi says it focuses on end-user adoption by building a “familiar” onboarding experience. It also makes data “human-readable and easily digestible to even novice builders and developers, empowering them to future-proof their apps within an hour, providing 270 complete integrations and growing”.
