ICYMI fintech funding round-up: NX Technologies, Growfin & 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.
Germany-based fintech NX Technologies, which operates payment management platform bezahl.de and offers digital payment processes for the automotive industry, has raised €11 million in a Series A funding round.
Motive Partners, through its Motive Ventures fund, served as the lead investor. Additionally, family offices and angel investors also invested in the Cologne-based start-up.
In addition to hiring new employees, NX Technologies will use the funds to extend its bezahl.de platform by integrating further embedded finance solutions. The firm also plans on expanding into other regions.
US-based fintech start-up Growfin has secured $7.5 million in a Series A funding round, led by SWC Global with participation from existing investors 3one4 Capital and angel investors.
Grown raises $7.5m
Growfin says it has seen 8x growth in customer numbers over the last 12 months, and has helped businesses collect $1 billion in account receivables (AR).
Founded in 2021 and launched last year, Growfin operates a finance customer relationship management (CRM) solution. With automation, collaboration tools and real-time collection tracking capabilities, it helps finance, sales and customer success teams connect in order to drive faster payment collections from customers, and improve cash flow and the financial health of businesses.
With the funding, Growfin plans to invest in its tech stack and product range in 2023, expanding its offering from a finance CRM to an “all-in-one” integrated cash solution for B2B enterprises, as well as enhance its product’s predictive artificial intelligence capabilities.
Egyptian fintech start-up Hollydesk has landed $1 million in venture debt funding from undisclosed investors.
Founded in 2020, the Cairo-based Software-as-a-Service (SaaS) firm operates an expense management platform for small and medium-sized enterprises (SMEs) that takes care of daily expenses and accounts payables, and covers the spending process.
Hollydesk says it will utilise the funds to onboard new clients.
US-based digital banking services provider Bankjoy has raised fresh funds in a round led by Curql Collective.
Bankjoy raises funds
A number of Bankjoy’s current and prospective clients, including AEA Credit Union, Community Wide Federal Credit Union and Statewide Federal Credit Union, have invested in the company’s latest funding round.
Founded in 2015, Bankjoy’s digital banking platform has been leveraged by more than 60 financial institutions across the US.
With the latest funds, Bankjoy intends to support its growth and facilitate product innovation.
