FinTech news in debt category
Highbeam, a startup that provides banking features, credit and cash flow insights to e-commerce customers, today announced that it raised $10 million in debt from TriplePoint as it looks to expand the reach of its digital product portfolio.
After years watching deals falls through due to a lack of payment flexibility, they left Motive to build Vartana, aiming to equip companies with a managed platform that helps sales reps close deals. Vartana also secured a $50 million line of credit from i80 Group, which Kella says will ensure financed deals can be managed through Vartana’s new capital marketplace. Vartana helps to manage tasks like contract tracking, payment terms and signature capture, accepting a range of different payment options (e.g., pay in full, deferred payment) and installment plans. But he doesn’t see them as direct competitors, pointing out that Vartana’s model hinges on delivering financing to buyers and targeting late-stage tech companies.
Following the company’s seed round, Adrián Yanes joined as chief technology officer and Sarita Bhatt as chief marketing officer to help Boopos scale to Series B and beyond, Garcia Braschi said. Six months after announcing $30 million in equity and debt, Boopos, a Miami-based lending platform for business acquisitions and growth, is back with an even bigger round, a $58 million Series A, again in a mix of equity and debt. Garcia Braschi started the company in 2020 to cater to business owners, mainly company aggregators, leveraging acquisitions as a way to grow their companies. Though Garcia Braschi was not specific, he did say the company’s valuation is approximately double following this round than the previous seed round.
Arrenda, a Mexico City-based fintech company, is offering digital financial services to the real estate market of Latin America and closed on $26.5 million in a pre-seed round of equity and debt.
The idea with Wagestream is not just to give those workers faster liquidity when they need it, but to give them the ability to use that money in different ways — for example with features to invest small amounts into stocks, and to bring in controls to save money incrementally in a way that makes the most practical sense for those users.
Shop owners who intend to offer loans to their end consumers get higher credit lines from Chari, which shares the data collated from Karny (on end consumers’ purchasing behaviour) with FMCG companies that pay for the cost of the higher loans.
Promise works with utilities and government agencies to provide flexibility in payments for people who can’t cover their whole water or electricity bill at once.
Groundfloor users have a wide range of reasons for using the platform, from new investors who are looking for a safer alternative to public markets to experienced investors who prefer investing through an app instead of using the broker, Dally said.
Karny gives Chari valuable data on the loans provided by grocery stores to their customers and allows Chari to credit-assess the unbanked shop owners, determining the most applicable payment terms to give each.
Finclusion Group, a fintech that uses AI algorithms to provide financial services to African customers via an array of credit-centric products, has raised $20 million in debt and equity pre-Series A financing.