ICYMI fintech funding round-up: Higlobe, CNote, DolarApp and more
Sep 23, 2022
23rd September 2022
Our weekly fintech round-up for you to get the latest funding news from around the world. US-based international payment transfers solution provider Higlobe has raised $14 million in funding to expand its technology and launch into new markets. The funding round was led by Battery Ventures, with its senior partner Scott Tobin joining Higlobe’s board. Founded in 2020, Higlobe uses asset-backed stablecoins to provide an efficient and cost-effective means of making cross-border payments between bank accounts. US-based fintech firm CNote has raised $7.25 million in a Series A funding round it claims was “oversubscribed”. CNote raises $7.5m Series A
American Family Insurance Institute for Corporate and Social Impact led the round, with Astia Fund, BankTech Ventures, Commerce Ventures, CityRock Venture Partners and other investors participating. CNote’s technology platform gives corporations a “simple, safe way” to deploy ESG cash and fixed income in underserved communities at scale. CNote places investor funds into deposit and loan products through a network of more than 2,000 impact-driven community financial institutions that serve low- to moderate-income communities, support women and people of colour entrepreneurs, fund affordable housing and provide other forms of economic inclusion. It claims to be deploying $300 million in cash and fixed-income investments via its platform — more than 370% growth since 2020. The platform has 1,900 corporate, foundation and individual investors, including AMD, Patagonia and Xylem, among others. The new money will be used to advance its technology, expand its sales team and deepen its network of community financial institutions. Latin American fintech start-up DolarApp has secured $5 million in funding from Y Combinator and Kaszek Ventures, with more than 50 angel investors also participating. Founded in 2021, DolarApp is a digital dollar (USDC) wallet for people in Latin America that want to be banked in dollars, with an account that can be opened “in two minutes”. The start-up plans on using the fresh funds to hire new people, boost its marketing efforts and launch its platform. US-based fintech Portabl has landed $2.5 million in a seed round led by Harlem Capital Partners and has also launched its beta. Founded in 2020 and headquartered in Philadelphia, Portabl aims to provide identity management and protection services for financial institutions, banking and digital apps, according to TechCrunch. The money will be go towards building out its team and to support the company’s growth. New Turkish neobank Turan has raised approximately $2.5 million in a pre-seed funding round, with participation from a host of Turkish investors. Aiming to be the neobank for Turkish states, Turan aims to provide Turkish people with access to financial products, including prepaid cards and micro-loans, in their own language and suited to their lifestyles.