ICYMI funding round-up: Sudozi, Mentum, Assetplus, Multipl & Akuvo
May 13, 2022
13th May 2022
Our weekly fintech round-up for you to get the latest funding news from around the world. Financial software provider Sudozi has closed a $4.3 million seed round led by Pear VC with participation from S3 Ventures and Mischief. Sudozi bags $4.3m in seed round
Founded by the former CFO of Uber US and Canada, Sudozi is also backed by founders and early executives of DoorDash, Eventbrite, Plaid, Robinhood and Stripe, among others. Sudozi helps finance and accounting teams to manage vendors, budgets and headcount in one place. Its platform helps firms automate workflows to track vendor spend requests and approvals and enables live integration of QuickBooks. The seed funding will be used to grow its team, further develop its product offerings and expand its market reach. San Francisco-based start-up Mentum has raised $4.2 million in a funding round led by Google’s Gradient Ventures. Also participating were Global Founders Capital, Soma Capital and Y Combinator. Founded in 2021, Mentum provides an API that allows fintechs in Latin America to offer investment services to their customers. Through Mentum’s platform, customers can gain access to local investment products and simplify the management and reporting of investment portfolios. “Our platform reduces costs, accelerates time to market and allows you to stay fully compliant with local regulations,” the firm says. Mentum plans to use the capital to drive its product development and hire new talent. Chennai-based fintech Assetplus has raised $3.6 million in a round led by InCred and RainMatter. Also participating in the round were Venture Catalysts and other angel investors. Assetplus aims to use the cash to expand its business operations and further build out its platform with new products. Launched in 2018, Assetplus offers digital solutions to financial advisors and mutual fund distributors to help scale their businesses and manage investments. The company aims to streamline the process of investing in mutual funds by offering a platform with features including multi-portfolio support, unbiased research and digital marketing functionalities. Multipl secures $3m pre-Series A
Indian fintech start-up Multipl has secured $3 million in a pre-Series A funding round led by Blume Ventures, GrowX Ventures, IIFL and Kotak Securities Limited. Launched in 2020, Multipl helps its users plan their spending, save consistently and multiply their savings with personalised auto-investments. The platform rewards its users for saving for future expenses by encouraging ethical consumption. The company claims to have more than 100,000 users. With the new investment, Multipl says it plans to add more investment options to its platform. US-based Akuvo, a credit risk and delinquency management technology firm, has announced a new round of funding from three credit unions. The undisclosed amount, raised by VyStar Credit Union, BCU and Reseda Group, a wholly-owned CUSO of MSU Federal Credit Union, will be used to further develop Aperture, the company’s collection and credit risk platform. Aperture is a modern, cloud-based collection platform powered by data and analytics. Akuvo uses a behavior-based approach to credit risk and delinquency management through its products and consulting services.