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Venture Capital
canapi.com

Investments

41

Portfolio Exits

1

Funds

3

About Canapi Ventures

Canapi is a venture capital firm. It invests in early to growth-stage financial technology companies offering disruptive alternatives to outdated business models and technologies. It was founded in 2018 and is based in Washington, DC.

Headquarters Location

801 17th Street North West Suite 1050

Washington, DC, 20006,

United States

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Latest Canapi Ventures News

Weekly Funding Highlights – 21 February 2024

Feb 21, 2024

In this roundup, we cover developments across the funding landscape, including strategic investments, funding rounds, and innovative initiatives from key players in the industry. Monzo targets £4bn (€4.6bn) valuation in fresh funding round Monzo, the British digital bank, is reportedly close to securing a new funding round that would value the fintech at around £4 billion (€4.6 billion). The company could finalize the deal within the next two weeks, aiming to raise up to £350 million (€408 million) from a mix of new and existing investors. On a pre-money basis, Monzo would be valued at about £3.6 billion (€4.2 billion), rising to £4 billion (€4.6 billion) with the new capital injection. Alphabet’s investment fund, CapitalG, is expected to lead the round, with participation from investors including Tencent and Ribbit Capital. Monzo has been expanding its product offerings and markets, recently surpassing 9 million customers. Read more Fintech Venture Fund Canapi Raises $750m (€694m) Canapi Ventures, a fintech venture capital fund supported by around 70 financial institutions and strategic investors in the United States, has raised a $750 million (€694 million) Fund II. Backed by the Canapi Alliance, which consists of strategic banks and financial partner institutions across North America, the new funds bring Canapi’s total assets under management to over $1.4 billion (€1.3 billion). The fund aims to support innovative entrepreneurs and companies contributing to a more inclusive and equitable financial ecosystem. Canapi’s investment focus includes key verticals like fraud and identity, financial infrastructure, lending and credit, payments, and real estate technology. In Fund II, it plans to broaden its investment scope to include areas such as responsible AI use, cybersecurity, and the intersection of financial services and climate technology. Read more Mastercard Invests $200M (€185M) in MTN Fintech Mastercard is set to acquire a minority stake of up to $200 million (€185 million) in MTN Group Fintech, the fintech arm of telecommunications giant MTN Group, reaffirming its commitment to fostering financial inclusion in Africa. The deal, which values MTN Group Fintech at $5.2 billion (€4.8 billion), is part of Mastercard’s strategic move to expand access to financial services on the continent. The investment is expected to strengthen MTN Group Fintech’s position and enhance its payments and remittance services, contributing to the development of Africa’s digital financial landscape. The collaboration is currently undergoing regulatory approvals and customary closing conditions. Read more Duetti raises $90m (€83m) to revolutionize music financing services Duetti, a music financing platform, has secured $90 million in a funding round, including $15 million (€14 million) in new equity led by Nyca Partners, Viola Ventures, and Cohen Circle, and a $75 million (€69 million) credit facility from Northleaf Capital Partners. Duetti’s goal is to provode independent artists with the opportunity to sell master catalogs, individual tracks, or parts of them, enabling them to unlock immediate cash flow. The new funds will be used to accelerate catalog acquisitions, develop advanced prediction and analytics technology, and expand catalog marketing capabilities. Duetti has become a trusted ally for over 250 artists, including Olivia O’Brien, Sevyn Streeter, and Łaszewo. Read more Colombia’s Bold bags $50m (€46m) Series C for next phase of growth Colombian fintech Bold has successfully raised $50 million (€46 million) in a Series C funding round, led by US growth equity firm General Atlantic, pending approval from the Colombian financial regulator. Previous investors InQLab and Amador participated, along with the International Finance Corporation (IFC) of the World Bank Group. Following its Series B funding of $55 million (€51 million) in February 2022, Bold has expanded its team, doubled its active merchant customers to around 150,000, and broadened its services to include merchant accounts, debit cards, and short-term working capital loans. The latest funds will be used to enhance its product offerings and strengthen its position as a merchant-acquirer in Colombia. Read more Napier AI bags £45 million (€41 million) in funding UK-based financial crime RegTech Napier AI has secured £45 million (€41 million) in funding from US-based Crestline Investors. Napier AI, founded in 2015, offers AI-enhanced financial crime and regulation technology compliance software, particularly focusing on anti-money laundering (AML) screening for banking, payments, and wealth and asset management industries. The company’s technology assists institutions in screening, monitoring, and identifying criminal or suspicious activities, along with regulatory reporting capabilities. Napier AI has experienced strong growth, with top-line revenue increasing by over 30% year on year since 2021. The funding will likely support further expansion and development of its compliance solutions. Read more Canada’s Float bags $37m (€34m) credit facility from Silicon Valley Bank Canadian fintech Float has secured a $37 million (€34 million) credit facility from Silicon Valley Bank (SVB), a division of First Citizens Bank, to fuel the growth of its corporate card and expense management platform after achieving 300% payment volume growth in 2023.. The funds will be used to expand its Charge Card programme, which offers spending limits five to ten times higher than regular bank credit cards. The platform provides real-time visibility over company spending, allowing finance teams to authorise, spend, reconcile, and monitor expenses in both CAD and USD within a single platform. Read more PayPal Ventures Launches AI Fund With Co-lead Investment in Rasa’s $30 Million (€27 Million) Series C Funding Round PayPal Ventures has announced the creation of a new AI Fund, with plans to deploy a portion of the funds over the next three years for early-stage AI investments across various industries and verticals. The AI Fund is launched in conjunction with PayPal Ventures’ co-lead investment in Rasa’s $30 million (€27 million) Series C funding round. The focus of the Fund includes opportunities in AI across advertising, customer success, risk, compliance, legal, and personalization – as such, PayPal Ventures aims to invest in innovative teams disrupting industries with AI solutions. Since 2022, new possibilities in AI applications are endless as the integration of large language models into conversational AI is expected to reshape human-machine interactions and enhance the efficiency of chatbots. Rasa, known for being the first and most popular open-source development platform for enterprise-grade conversational AI, is a significant player in the popularity of generative AI as it influences the venture capital landscape. Read more Moove secures $10m (€9m) in first external debt funding round led by Stride Ventures Moove, a Mobility FinTech company, has raised $10 million (€9 million) in a debt round led by Stride Ventures. The funds will be utilized to support Moove’s expansion plans in India, with a focus on entering new cities such as Delhi, Pune, and Kolkata. Moove, founded in 2020, is transforming the global mobility sector by integrating alternative credit-scoring technology into ride-hailing platforms. This approach allows Moove to offer loans to individuals traditionally excluded from financial services, promoting financial inclusion and access to mobility. The company operates in nine markets across Africa, the Middle East, Europe, and Asia, and serves as Uber’s vehicle supply partner in the EMEA region. Read more – Do you have any news to share? Please put feed@hollandfintech.com  on your press list. Curious to read and find out more from fintech? Then subscribe & read our full newsletters  here. In order to see our other weekly highlights, check out the following links:  analysis & opinion ,  research . Share this Article

Canapi Ventures Investments

41 Investments

Canapi Ventures has made 41 investments. Their latest investment was in ModernFi as part of their Series A on January 23, 2024.

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Canapi Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/23/2024

Series A

ModernFi

$18.7M

Yes

3

10/23/2023

Series C

Island

$100M

Yes

3

10/17/2023

Series C

Nova Credit

$45M

No

1

8/16/2023

Series A

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$99M

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10

6/21/2023

Seed VC - II

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$99M

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10

Date

1/23/2024

10/23/2023

10/17/2023

8/16/2023

6/21/2023

Round

Series A

Series C

Series C

Series A

Seed VC - II

Company

ModernFi

Island

Nova Credit

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Amount

$18.7M

$100M

$45M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

3

3

1

10

10

Canapi Ventures Portfolio Exits

1 Portfolio Exit

Canapi Ventures has 1 portfolio exit. Their latest portfolio exit was Blend on July 15, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/15/2021

IPO

$99M

Public

21

Date

7/15/2021

Exit

IPO

Companies

Valuation

$99M

Acquirer

Public

Sources

21

Canapi Ventures Fund History

3 Fund Histories

Canapi Ventures has 3 funds, including Canapi Ventures Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/6/2023

Canapi Ventures Fund II

$750M

1

3/30/2022

Canapi Ventures SBIC Fund

$99M

10

12/23/2019

Canapi Ventures Fund

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$99M

10

Closing Date

12/6/2023

3/30/2022

12/23/2019

Fund

Canapi Ventures Fund II

Canapi Ventures SBIC Fund

Canapi Ventures Fund

Fund Type

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Status

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Amount

$750M

$99M

$99M

Sources

1

10

10

Canapi Ventures Team

8 Team Members

Canapi Ventures has 8 team members, including current Founder, General Partner, Walker Forehand.

Name

Work History

Title

Status

Walker Forehand

Founder, General Partner

Current

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Name

Walker Forehand

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Work History

Title

Founder, General Partner

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Status

Current

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