Fintech funding round-up: 20 December 2017
Continuing with the spirit of goodwill (and cash) from yesterday (19 December), more ring in the air as we unveil another fintech funding round-up. Features Raisin, PayPal, Home Credit Venture Capital, Barion Payment and Cash Svidha.
Raisin previously has raised a total of €60 million, with investments from Thrive Capital, Ribbit Capital and Index Ventures. The investment is intended to accelerate the growth of Raisin in its European markets.
Raisin provides individuals and businesses access to a financial marketplace that includes savings. According to Raisin, 40 banks offer savings accounts through its service, ranging from flexible savings to long-term deposits.
Raisin has also recently unveiled plans to launch its first retail investment product next year.
Home Credit Venture Capital (HCVC) has led a €6 million funding round for Barion Payment, a Hungary-based online and mobile payment start-up.
According to Barion, its Smart Gateway payment platform enables merchants to accept payments at a low-cost in e-commerce, m-commerce, brick and mortar shops and more. The company says it has created a comprehensive consumer database from this transaction data, which it utilises to generate advertising revenue.
The company currently has 6,000 corporate customers and 2,600 webstore partners and plans to expand into the Czech, German, Austrian, Slovak and Slovenian markets.
Finally, Cash Suvidha, a Delhi-based online microlending start-up, is adding $2.7 million to its debt funding, taking the total to $3 million. Its parent company, Usha Financial Services, has not shared the names of the investors but said that the amount has been shared between six financial institutions.
Cash Suvidha is roughly a year old and offers lending to micro, small and medium enterprises (MSMEs) and consumers. One of the company focuses is on women entrepreneurs. It has a credit scoring system – Suvidha Score – to check on the credit score of the applicants. It also uses social media to check on the background and other credentials before approving loan applications.