ICYMI fintech funding round-up: Archway, Finway, iLex 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.
US-based banking platform Archway has launched with $15 million Series A funding in hand.
The round was led by Madrona and Wafd Bank.
Archway’s platform enables banks to integrate their core banking products into the latest web, mobile, voice and AI technologies. By centralising data from disparate systems, banks can have a holistic view of their customers, Archway says.
Archway serves community and regional banks in the US and, with the funding, plans on rolling out new integrations including forecasting, loan processing and other banking services.
Finway, a German finance operating system for small and medium-sized businesses (SMBs), has raised $10 million (€9.2 million) in a Series A funding round from Capital49.
Finway raises $10m
Other new investors include Force Over Mass, the family office of Paul Forster. Existing investors btov Partners and 10x group also participated in the round.
Finway helps SMBs eliminate time-consuming and error-prone manual tasks by offering a centralised platform that covers invoicing and accounting workflows, spend and travel expense management, and a “streamlined” accounts payable function.
Within two years of launching, Finway claims to have acquired more than 400 customers in Germany, Austria and Switzerland. The firm will use the funding towards enhancing and developing its solution.
Singapore-based iLex, a market infrastructure provider for syndicated loan and private debt markets, has raised
$4.5 million in a pre-Series A funding round led by QBN Capital, with participation from existing and new investors.
The round brings the firm’s total equity fundraising to $8.5 million.
iLex will use the funds to accelerate its product roadmap and client acquisition across Asia Pacific and EMEA, as well as expand its team.
UK fintech start-up Zipzero has raised over £1 million in seed funding from a number of angel investors including GPS founder Craig Dewar.
Zipzero is a consumer app that allows users to receive cash rewards by sharing receipts from their everyday purchases, which are then used to pay household utility bills.
The start-up says it will use the funding to grow its platform further, and secure new partnerships with retailers and brands. It claims to have attracted more than 100,000 users in the UK so far.
UK-based digital assets fintech Ownera has received an undisclosed sum of funding from US Bank in its Series A funding round.
US Bank invests in Ownera
Ownera aims to help institutional clients of regulated financial institutions discover, invest in and trade assets with instant transaction settlement and transfer of ownership. It offers real-time visibility into the characteristics and history of a wide range of assets such as bonds and syndicated corporate loans.
“This investment will allow us to play an important role in shaping the future of capital markets, one where issuers and institutional investors have more real-time visibility into assets and can more efficiently transfer ownership and settle transactions,” says Jim Kelligrew, vice chair and head of corporate and commercial banking, US Bank.
“Our goal is to provide our capital markets clients a more streamlined experience, helping them save time and money, all while experiencing unprecedented transparency,” Kelligrew adds.
