Several fintech firms have recently enjoyed significant funding boosts, which will support further development and expansion of their operations and technologies:
- Nearpay, a Saudi Arabian payments infrastructure start-up, raised $14 million in a Series A funding round led by Sanabil Investments. Other investors included stc’s Corporate Investment Fund, Vision Ventures, Hala Ventures, and Arzan Ventures. Nearpay will use the funding to advance its technological capabilities and further its global expansion plans.
- Hyperplane, a US-based fintech start-up, came out of stealth mode with a $6 million funding round. Former Stripe executive Lachy Groom led the round, which was also supported by SV Angel, Clocktower Technology Ventures, Liquid2 Ventures, Soma Capital, Latitud, Atman Capital, Crestone VC, and Norte. Hyperplane aims to employ the funding to expand its services into the US market.
- Pave Bank, a Singaporean start-up, emerged from stealth with a digital banking license from Georgia and $5.2 million in seed funding. 468 Capital led the funding round, while Quona Capital, FT Partners, BR Capital, w3.fund, and Daedalus also participated. The bank aims to provide traditional banking services for businesses, while also offering multi-asset custody and virtual IBANs.
- Finally, Supra, a Colombian cross-border payments fintech firm, raised an undisclosed sum in a strategic funding round. Citi led the round, with Far Out Ventures and H20 Capital also contributing. Supra plans to use its new funding to expand its operations in Colombia and develop its payment aggregator role.
