FinTech news in SaaS category

Growfin, a Singapore- and San Francisco–based fintech startup that provides SaaS for finance departments to track and collect payments and to help manage the accounts receivable process, has raised a $7.5 million Series A.

Apurv Bansal, co-founder of Zenskar, said in an interview that 10% to 15% of SaaS companies today have moved toward a consumption-based pricing model on customers’ demand because of macro tailwinds such as product-led growth, automation and AI. The market is flooded with similar SaaS billing platforms, but Bansal said Zenskar allows companies to configure its solution in a no-code, low-code manner, without requiring them to rely on engineers. Headquartered in New York and Bengaluru, Zenskar is building a platform for SaaS companies to generate bills for their complex pricing plans — whether they are based on usage-based pricing, subscriptions, nuanced discounts, credits, custom currencies, prepaid or ramp deals. Zenskar, a startup that is aiming to help SaaS companies automate their billing workflows, has raised $3.5 million in a seed funding round.

Left Lane led Arc’s Series A financing, which also included participation from NFX, Y Combinator, Bain Capital Ventures, Clocktower Technology Ventures, Torch Capital and Atalaya, as well as founders from Wayflyer, Plaid, Column, Chargebee, Vouch and Jeeves.

The Austin-based firm recently secured $145 million in its own debt and equity financing to help B2B SaaS founders grow their businesses without diluting ownership.

Bluecopa, an Indian startup building a finance operations automation platform for high-volume companies, has raised $2.3 million to expand its offering in the global market.

In addition, the latest funding will enable SleekFlow to enhance its product development with fintech and data analytics functions, one-click checkouts via social media platforms, and easy in-chat payment integrations for online to offline (O2O) and e-commerce brands’ seamless workflow.

The investment marks SpotOn third raise in the past year alone and Dragoneer’s sixth time investing in the company over a three-year period. For context, SpotOn’s Series E raise at a $3.15 billion valuation was about 5x of its $625 million valuation at the time of its Series C round. It comes on the heels of a year in which the company says it saw 100% year-over-year ARR growth.

The previous share purchases refers to an existing relationship between the two: Nets already had a stake in Orderbird as a result of an acquisition it had made of payments company Concardis, and it increased that stake to 40% in a secondary transaction in September 2021.

Powered by this seed funding led by MaC Venture Capital, Identitypass plans to expand its existing infrastructure, roll out new verticals around compliance, security and data collection, and push into new African countries. These end points are government-approved IDs, such as national IDs, driver licenses, international passports, bank verification numbers (BVN), phone numbers, vehicle plate numbers, debit cards, security watchlists and tax history.

For example, one company in the space, Optimal Blue, was purchased by Black Knight for $1.8 billion in 2020 to boost its data and analytics capabilities Carmel believes Polly stands out from others in the industry in that it is helping create a fourth category in the mortgage sector — capital markets.

We believe HR teams deserve world-class software to manage and service their employees, but today it’s clear that many organizations still use spreadsheets or legacy products to make ends meet, said Haenam Chang, CEO of flex. The company said its deep understanding of cultural nuances in people management and the HR regulations in the country help flex to be well-positioned to offer a set of products tailored to South Korean businesses. At flex, we empower customers with a reliable source of employee data and a rich set of tools to manage their people, maximizing individual and organizational performance. Currently, flex is focused on growing in South Korea by offering a SaaS solution that modernizes the HR functions and processes, which have been slow to adapt to technical progress over the past 20 years.

So far, VCs have been a strong customer acquisition channel for Arc, noted Lombardo, who pointed to the fact that Arc’s largest partnership today is with Y Combinator, which is promoting Arc across its portfolio of thousands of software companies.

With 700 employees in Paris, Berlin, Barcelona and London, PayFit now wants to diversify its product offering, integrate with more third-party products and improve its customer service.