ICYMI fintech funding round-up: Synctera, Natech, Basiq, Payabli
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-as-a-Service (BaaS) provider Synctera has raised $15 million in a strategic financing round led by NAventures, the corporate venture arm of the National Bank of Canada.
The round also saw participation from The Banc Funds, Veritex Community Bank, Midland States Bank and Emigrant Bank.
With the funding, Synctera plans to expand into Canada to serve new fintech firms in the region. The firm expects its platform to be fully operational by the end of this year.
Natech, an Athens, Greece-based core banking tech provider for banks, fintechs and financial firms, has raised
€10 million through a private convertible bond issue.
Natech raises €10m
The funds contribute to the company’s Series B round, and will be used to support its European expansion.
The money will also be used to support the launch of Natech’s joint venture with Piraeus Bank, designed to offer BaaS products across Europe, along with plans of launching a new digital bank.
The round was led by Orasis Fund alongside George Moundreas Family Office, with Codrus Capital and existing shareholders also participating.
Australian consumer data rights platform Basiq has received an undisclosed sum as strategic investment from Cuscal, one of Australia’s largest providers of payments, banking and regulated data.
Cuscal takes controlling stake in Basiq
As per the agreement, Cuscal will acquire a “controlling interest” in Basiq, subject to customary conditions.
With Cuscal, Basiq aims to create a “one-stop-shop” for fintechs, providing them with all the tools they need to develop their platforms.
Cuscal in turn will be able to support credit unions, mutuals and banks with the data services they need to adopt open banking capabilities.
Following the acquisition, Basiq will continue to function independently, while utilising Cuscal’s capabilities to bring solutions to the market.
US-based payments infrastructure firm Payabli has secured $8 million in an extension round after raising an initial $4 million seed round in May 2022.
The round saw existing investors TTV Capital, Fika Ventures and Bling Capital, as well as angel investors, taking part.
Payabli allows software companies to become payment companies through its API-based payments infrastructure and monetisation platform.
The new round of funding will be used by the firm to accelerate its growth, enhance its implementation process for software firms, and invest in its product offering.
