In a venture capital slowdown, any investment round is a win.
This week’s look at the latest funding for B2B FinTech and other startups showcases an investor appetite for security, data and business intelligence, with nearly $63.5 million in fresh investment for the industry. PYMNTS rounds up the latest deals below.
Focused on mitigating third-party risk for B2B buyers and suppliers, Utah-based Whistic recently announced a $12 million Series A investment round, FinNSMEs reported. The company offers businesses a platform to manage their third-party partners, connecting users to its Trust Catalog of corporate profiles. Investors at Emergence led the funding, while Album VC and existing backers also participated. Whistic said it would use the investment to grow its staff and scale operations.
Germany’s CANDIS, a small- to medium-sized business (SMB) accounting automation platform, recently announced via press release a $14.2 million fundraise. The company’s Series B investment round was led by Viola Ventures and Rabo Frontier Ventures, while existing backers Lightspeed Venture Partners, Point Nine Capital, Speedinvest, 42CAP and others also participated. CANDIS said it will use the investment to further its machine learning (ML) engine capabilities and focus on expanding its footprint throughout the European market as it aims to arm SMBs with automated technologies to manage finances and streamlined collaboration with tax accounting firms.
California- and Israel-based Ermetic is another newly funded B2B startup focused on enterprise security. The company connects corporate clients to technology that can enforce least-privilege access policies to combat the risk of data breaches in AWS, Microsoft Azure and Google Cloud Platform, FinSMEs reported. The company raised $17.25 million in Series A funding led by Accel, while Glilot Capital Partners, Norwest Venture Partners and Target Global also participated. The company plans to use the money to invest in its research and development efforts, go-to-market strategy, marketing and customer support.
With $20 million in Series B funding, financial settlement network EMQ, based in Hong Kong, will accelerate its growth across borders, work to secure new licenses, and focus on product development as it expands throughout Asia, Europe and the Americas, PYMNTS reported. EMQ operates a cross-border financial settlement network to streamline global transactions and is driving adoption of real-time global payments with technology that can be integrated directly into third-party infrastructure. Investors at WI Harper Group led the round, EMQ said, while Abu Dhabi Capital, AppWorks, DG Ventures, Hard Yaka, Intudo Ventures, January Capital, Quest Venture Partners, SparkLabs Taipei, Vectr Fintech Partners and VS Partners also participated.
Also based in Israel is enterprise data intelligence startup Explorium, which secured $31 million in Series B funding this week, SiliconANGLE reported. The company enables other corporates to develop ML models to more strategically and effectively wield corporate data to gain insights and make predictions about their operations, augmenting businesses’ existing data pools with third-party data. The company saw Zeev Ventures and 01 Advisors leading the funding, while Dynamic Loop and seed investors Emerge and F2 Capital also participated.
New PYMNTS Study: Subscription Commerce Conversion Index – July 2020
Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.