Fintech funding round-up: 10 November 2017
Just when you thought there couldn’t be more following yesterday’s (9 November), Wednesday’s (8 November) and Tuesday’s (7 November) fintech funding round-ups, here’s more news action. Featuring Crux, Accern and Blume Ventures.
Starting with US-based data service start-up Crux, it has received $10 million in a Series A funding led by Goldman Sachs Principal Strategic Investments. According to Crux, which has offices in New York and San Francisco, the funding will be used to expand its business and hire new staff.
Crux’s platform is designed to process data for financial firms, which includes banks, hedge funds and investors. The platform enables firms to outsource the process of data to gain “insights and adjusting accordingly to the current market”.
Next up is New York-based data science start-up Accern, which has received $2.1 million in a series A funding round led by private investors, including 26 Ventures’ managing partner, Moshe Neuman. Other investors included Cane Investment Partners, Affinity Investment Group, Belmond Capital, Deutsche Bank and Credit Suisse.
Accern says it’s expected to be using the funding to expand the company to meet the rising demand for artificial intelligence (AI) data analytics technology. It will also continue to expanding its client base with its data providing news and analytics to banks and other financial institutions.
With this round-up focusing on expansion, venture capital firm Blume Ventures isn’t missing a beat with its plans to raise $100 million in funding. Starting early next year, Blume says it’s expected to be raised by mid-2019.
With over 75 funded start-ups in its portfolio, Blume Ventures will use ticket sizes between $500,000 to $1 million to invest in 35-45 start-ups within targeted areas, which includes: analytics, e-commerce, edtech, logistics, fintech, travel and hospital, robotics and consumer services.