Funding - NewNerve

Zepz Secures $267 Million to Expand Global Remittance Services

19Oct

By AnkitNo Comments

Fintech

Zepz Secures $267 Million to Expand Global Remittance Services

Zepz, the fintech company formerly known as WorldRemit, has successfully raised $267 million in a Series F funding round aimed at expanding its global remittance services. This significant investment, led by Accel with participation from TCV, Leapfrog Investments, and the International Finance Corporation (IFC), marks a pivotal moment for Zepz as it seeks to enhance its operations primarily in African markets and beyond. Funding Details The recent funding round is particularly noteworthy as it comes after Zepz's previous raise of $292 million in 2021, which helped the company achieve a valuation of $5 billion at that time. The current round reflects ongoing investor confidence in Zepz's business model and growth potential. Notably, the IFC has committed up to $20 million as part of this ...

Distil Raises $3.1 Million in Seed Funding Led by Jungle Ventures

27Jun

By AnkitNo Comments

Startups

Distil Raises $3.1 Million in Seed Funding Led by Jungle Ventures

Distil, a tech-enabled platform for specialty chemicals, has raised $3.1 million in seed funding led by Jungle Ventures and India Quotient. This investment marks a significant milestone for Distil, enabling them to expand their operations and solidify their position as a leading player in the specialty chemicals market. Addressing Key Challenges in the Specialty Chemicals Industry Distil, founded by IIT-Bombay alumni Atanuu Agarrwal, Karan Hirani, and Viraj Shah, tackles critical pain points faced by the specialty chemicals segment. The company's platform provides a solution to inefficiencies such as: Fragmentation: Distil eliminates the need for multiple intermediaries, streamlining the procurement process. Unreliable Quality: The platform ensures consistent and reliable quality...

Dripos Raises $11 Million to Replace Multiple Software Tools for Coffee Shops

25Apr

By Ankit1 Comment

Startups, AI, Business, Technology

Dripos Raises $11 Million to Replace Multiple Software Tools for Coffee Shops

New York-based coffee shop software company Dripos has secured $11 million in Series A funding to replace multiple software tools with one comprehensive solution. The company aims to simplify operations and improve customer experience for coffee shops. The Problem: Small coffee shops often rely on multiple software tools for point-of-sale, mobile payments, employee management, marketing, and accounting. This fragmented approach can be inefficient and time-consuming for owners and staff. Dripos' Solution: Dripos offers a single platform that combines all these functions, eliminating the need for multiple tools. This streamlines operations, saves time, and provides valuable insights into business performance. Key Features: Point-of-sale system Mobile payments ...

Fintech Funding Trends: A Closer Look at Q1 2024

14Apr

By Ankit3 Comments

Economics, Finance, Fintech

Fintech Funding Trends: A Closer Look at Q1 2024

The first quarter of 2024 has been a rollercoaster ride for the fintech industry. Amidst regulatory changes, economic shifts, and investor caution, fintech funding dynamics have undergone significant transformations. In this article, we delve into the numbers, dissect the trends, and explore what lies ahead for fintech startups. Decline in Year-on-Year Fintech Funding According to the Fintech India report released by data intelligence platform Tracxn, funding during the January-March quarter dried up year on year across various stages: Seed Stage: A staggering 77% decline, with funding plummeting to $9.9 million. Early Stage: A 42% drop, resulting in $147 million. Late Stage: A substantial 60% fall, leaving $394 million on the table compared to ...

FinTech Funding Surge: March Records $591 Million in Investments”

8Apr

By Ankit2 Comments

Banking, Finance, Fintech, Payments, Startups

FinTech Funding Surge: March Records $591 Million in Investments”

The FinTech sector is buzzing with excitement as the month of March draws to a close. After a relatively quiet period, funding has surged, and investors are placing their bets on promising startups. Let’s dive into the numbers and explore the recent developments in the world of financial technology. A Remarkable Rise in Investments The last month of the new calendar year witnessed a significant rise in investments for the FinTech sector, compared to the previous few months. According to data collated by 1Lattice, FinTech funding experienced an uptick in March, recording an impressive $591 million from 16 funding rounds. This substantial increase comes after a comparatively modest $250.25 millionraised from 13 rounds in the previous month. Key Players and Noteworthy Rou...