MDOTM, a platform that provides investment advice using artificial intelligence (AI), has raised €6.2 million in Series B fundraising. Both institutions and individual investors participated in the funding round.
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As noted in the report, almost £18 billion in Fintech investments were made in H1 2021, which is another record for the UK’s total investments in the financial technology space, and it now puts the country in second place, trailing only the US.
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Databricks, the data and AI firm, reveals that it has completed a $1.6 billion round in order to promote the innovation and adoption of the data lakehouse, as the data architecture’s utilization across data-oriented organizations keeps growing rapidly.
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AI-powered finance concierge Zeni has raised a $34 million Series B funding round led by Elevation Capital with participation from new investors Think Investments and Neeraj Arora. Existing investors Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures also participated in the round. The funds will be allotted to hiring in the U.S. and India across product, technology, marketing, sales, and finance operations.
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Localize has closed on a $25 million Series C funding round, according to a note from the Proptech firm. The funding round was led by Pitango Growth with Mizrahi-Tefahot and existing investors joining in. As part of the funding round Pitango co-founder and Managing Partners, Chemi Peres will be joining the company’s board of directors. To date, Localize reports having raised $70 million.
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Financial risk management platform Feedzai has acquired Revelock a biometric ID platform. Revelock technology will be immediately integrated into the core Feedzai platform with historical behavioral biometric intelligence available. Feedzai claims the purchase has created the world’s largest AI-powered financial risk management platform calling the combination transformational.
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Fintech app Snoop has secured £15 million in capital in order to support its global expansion efforts. Established by ex- Virgin Money Chief Executive Jayne-Anne Gadhia, the smart money app Snoop closed its Series A round with contributions from US investment management company Paulson & Co. Inc.
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AuthenticID recently announced a $100 million minority growth investment that has been led by Long Ridge Investment. The investment will be directed towards supporting AuthenticID’s ongoing innovation in automated identity proofing as well as the firm’s market expansion efforts.
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Jumio, an established provider of AI-enhanced end-to-end identity verification and eKYC services, reveals that its sales and revenue increased more than 150% during Q2 2021 when compared to Q2 2020. The growth has reportedly been fueled by “an ongoing need for modern enterprises to know and trust that their online users are who they claim to be.” As noted in a release shared with CI, this is “evidenced by the large growth seen in financial services, mobile delivery services and social platforms verifying everyone from customers to employees to influencers.”
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Switzerland-based B2B Proptech firm PriceHubble reveals that it has finalized its $34 million Series B round.
PriceHubble’s investment round was oversubscribed and was led by Digital+ Partners, a European growth equity investor. The firm’s round was also joined by Latitude Ventures, the Series B+ sister fund of UK’s VC LocalGlobe and TX Ventures from Zurich, and TX Group AG’s venture unit.
AI-based auto finance platform Lendbuzz has raised a total $360 million investment in part debt and equity. The US-based fintech started by two Israeli entrepreneurs –Amitay Kalmar and Dan Raviv, has raised $60 million in Series C equity financing led by Wellington Management, Goldman Sachs & Co, and MUFG Innovation Partners. The rest was $300 million in debt financing led by Goldman Sachs Bank USA.
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Symbol is notably NEM’s recently launched blockchain or distributed ledger tech platform. Supported by the NEM Ignite Incubator Program, LCNEM, KarmaPoint, and FactorChain AI received “tailored assistance with the development of each startup’s vision.”
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Myos has raised $30 million in Series A funding led by Fasanara Capital and Xploration Capital. Tomahawk.VC and a group of new and existing investors also participated in the funding round, according to the company. Berlin-based Myos states that it will use the additional capital to grow its existing customer base in Europe as well as entering international markets while further developing the company’s AI-based online lending platform.
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ALPIMA is a business-to-business (B2B) tech and advisory firm serving banking institutions, fund managers and wealth management companies globally. Its goal is to leverage the latest technological advances in data science to assist its customers with creating investment strategies with conviction and empower them to offer customization and personalization at scale.
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nSure.ai is a “predictive AI fraud protection company” that services digital goods such as gift cards, prepaid debit cards, software and game keys, digital wallet transfers, international money transfers, tickets, and more. The company explains that sellers of physical goods have processing times that allow them to double-check charges and can withhold a shipment if needed. Digital sellers lack this buffer, so even if fraud is detected minutes later, the assailant may be untraceable. nSure.ai is bringing anti-fraud technological and chargeback guarantees to the digital goods sector.
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Active.Ai, a conversational AI platform developed for financial services, and Glia, a provider of digital customer service, have teamed up in order to empower financial institutions with meeting their customers in the digital domain.
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Vise, an AI-enhanced investment management platform, has secured $65 million in capital through a Series C round that was led by Ribbit Capital and also saw participation from Sequoia Capital.
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As the world economy continued to rebound during the first quarter of 2021 (after the COVID-19 induced lockdowns across the globe), so too did international mergers and acquisitions (M&A) activity, according to a new report released by Pitchbook. Wylie Fernyhough, Senior Analyst, PE Lead, Pitchbook, noted in the report that 8,753 deals closed during Q1 2021 for “a total of $917.7 billion.”
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On February 16, Goldman Sachs announced that it is launching an automated wealth management platform to invest client funds in a portfolio of stocks and bonds.
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The artificial intelligence revolution will potentially change the composition of all human society and might even transform humanity itself. The transnational, boundary-bridging character of AI calls for a multistakeholder platform of global governance. Based on a shared proposal of the governments of France and Canada, the Intergovernmental Panel on Artificial Intelligence (IPAI) aims to follow the example of the IPCC, its role model on climate change, to become the primary source of objective scientific advice on AI. To help policy makers balance its significant opportunities and risks, the IPAI will work towards an ethical AI for the good of human society.
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