Funded - 4 Fintechs Raise $37M+

💰 Fundraising

🏆🇳🇱 ZOOD Raises $20M (18,3M €) to Boost Digital Lending in Uzbekistan, Aiming to Raise $30 Million More in Future Debt Funding

• ZOOD, the Swiss digital lending platform, has secured a $20 million funding round to expand its operations in Uzbekistan, where it has a local team of 400 and over 6 million users.

• Since launching in Uzbekistan in 2019, ZOOD has grown significantly, offering a suite of fintech solutions across Uzbekistan, Pakistan, and Lebanon, reaching over 10 million users globally.

• The company anticipates securing an additional $30 million in debt funding by mid-2024 to further enhance its lending portfolio in Uzbekistan, demonstrating a strong commitment to financial innovation in emerging markets.

→ Zood LinkedIn

🥈🇸🇪 Monite Raises $6M in Seed Funding Top-Up, Totaling to Expand in US and Strengthen European Presence, Totaling $16M to Expand in Europe and US

• Monite, an API-first fintech based in Europe, has successfully raised an additional $6 million in a seed funding top-up, bringing its total seed funding to $16 million, aimed at enhancing its finance automation services for B2B platforms across Europe and entering the US market.

• The company targets the inefficiencies in B2B payments, highlighting that a significant portion of the US' $27 trillion B2B transaction volume still relies on cash or checks, and aims to provide automated financial operations through its platform.

• With a reported 10x increase in monthly recurring revenue and 5x customer growth year-over-year, Monite's API and SDK solutions allow quick integration of invoicing, payment, and financial management services for SMBs, addressing the high demand for embedded financial services within B2B platforms.

→ Monite LinkedIn

🥉🇩🇰 Januar Secures Historic $6.51M (€6 Million) Seed Funding, Becoming Denmark's Largest Seed Round to Boost Crypto Businesses

• Januar, based in Denmark, has achieved a record-setting $6.51M (€6M) seed funding round, led by Element Ventures, to support crypto businesses with financial infrastructure, marking the largest seed round in the country's history.

• The company, founded in 2021 by former Chainalysis compliance experts and fintech veterans, aims to address the banking challenges faced by crypto businesses by providing local IBAN business accounts in Europe, leveraging a unique Payment Service Provider License from the Danish FSA.

• Januar's mission extends to fostering a more open, collaborative financial system and closing the service gap left by traditional banks in the crypto market. They plan to use the seed funding to expand their services across Europe, targeting the digital asset industry's $2 trillion market cap with new features and support for the growth of crypto and Web3 businesses.

→ Januar

🇬🇧 Superfluid Raises $5.1M in Strategic Funding to Advance Ethereum-Based Streaming Protocol, Following $9M Seed Round

• Superfluid, an Ethereum ETH-based token streaming protocol based in London, secured 4,7M € in a strategic funding round led by Fabric Ventures, aiming to support the project's growth and attract strategic investors.

• The Superfluid protocol supports transactions on 10 Ethereum Virtual Machine (EVM)-compatible networks, with plans to focus exclusively on the Ethereum ecosystem for the foreseeable future. It boasts significant partnerships, including one with Optimism to distribute over $110 million in OP tokens to more than 500 participants, and has processed over $150 million in value to date.

• Superfluid aims to be community-governed, with potential future plans for launching its native token decided by its community. The company's vision aligns with the broader crypto movement's goal of enabling on-chain digital business and creating a real-time finance economy, with plans to expand its team and support more hackathons and bounties to drive innovation and utility in asset streaming.

→ BNN Breaking