This week’s handy Friday funding round-up includes four European fintech start-ups – Payable, Axyon AI, Cube and HeidiPay.
London-based paytech start-up Payable has raised $6.1 million in a seed funding round led by CRV and Earlybird, with participation from Conversion Capital, Clocktower Ventures and angel investors.
With the fresh capital, the start-up intends to develop its platform and fuel its expansion plans.
Founded this year, Payable aims to build a payment operations API platform and dashboard for fintechs and marketplaces, allowing them to build “complex” payment flows and reconcile and automate bank transfers.
Italian fintech company Axyon AI has raised €1.6 million in a funding round led by CDP Venture Capital, with support from ING, UniCredit, Geminea and Metes.
The company intends to use the money to support its international expansion and develop Axyon IRIS, its flagship product that provides asset managers with AI-led market insights and investment strategies.
Founded in 2016 and based in Modena, Italy, Axyon AI won ING’s accelerator programme and received its first investment from ING Bank. In 2018, it received €1.5 million in funding led by ING and UniCredit.
Automated regulatory intelligence provider Cube has received an undisclosed sum in strategic growth investment from Bregal Milestone, a tech growth capital firm.
The investment, which marks the first institutional capital investment for Cube, will be used towards deepening product capabilities, fuelling international expansion and accelerate growth overall and via acquisitions.
London-based Cube says its regtech platform helps compliance teams “significantly cut existing costs and move highly skilled individuals up the value chain” while also reducing risk.
The platform captures changing or emerging regulations and uses AI to map them to customers’ policies, procedures and controls, ensuring firms are “alerted to regulations that matter to them instantly”.
HeidiPay, a Swiss fintech firm, has closed an undisclosed sum in a new funding round led by Compass Banca, the consumer credit arm of Mediobanca Group.
The capital consists of a mix of growth equity and credit lines and will be used to support the fintech’s expansion in the Swiss market and internationally.
Compass has also selected HeidiPay as a “BNPL enabler” for the Italian market, leveraging its technology and strategic know-how for its solution branded PagoLight.
Founded in 2021, HeidiPay enables merchants, marketplaces and lenders to offer buy now, pay later (BNPL) and retail financing solutions to its customers and claims to have gained over 300 merchant partners in one year of operation.
Image and article originally from www.fintechfutures.com. Read the original article here.