Our weekly fintech roundup for you to get the latest funding news from around the world. With Higlobe, CNote, DolarApp, Portabl and Turan.
US-based international payment transfer solution provider Hyglobe have raised 14 million dollars in funding to expand its technology and launch into new markets.
The funding round was led by Battery Ventures, with senior partner Scott Tobin joining Higlobe’s board.
Founded in 2020, Higlobe uses asset-backed stablecoins to provide an efficient and cost-effective way to make cross-border payments between bank accounts.
US-based fintech company CNote have raised 7.25 million dollars in a Series A funding round claims it was “oversubscribed”.
The American Family Insurance Institute for Corporate and Social Impact led the round, with Astia Fund, BankTech Ventures, Commerce Ventures, CityRock Venture Partners and other investors participating.
CNote’s technology platform provides companies with a “simple, secure way” to deploy ESG cash and fixed income in underserved communities at scale.
CNote places investor funds into deposit and loan products through a network of more than 2,000 impact-driven community financial institutions that serve low- to moderate-income communities, support women and entrepreneurs of color, finance affordable housing and provide other forms of financial inclusion.
It claims to deploy $300 million in cash and fixed income investments via its platform – more than 370% growth since 2020. The platform has 1,900 corporate, foundation and individual investors, including AMD, Patagonia and Xylem, among others.
The new money will be used to advance the technology, expand the sales team and deepen the network of financial institutions in the community.
Latin American fintech startup DolarApp has secured 5 million dollars in funding from Y Combinator and Kaszek Ventures, with more than 50 angel investors also participating.
Founded in 2021, DolarApp is a digital dollar (USDC) wallet for people in Latin America who want to be banked in dollars, with an account that can be opened “in two minutes”.
The startup plans to use the fresh funds to hire new people, increase marketing efforts and launch its platform.
US-based fintech Portable has landed 2.5 million dollars in a seed round led by Harlem Capital Partners and has also launched its beta.
Founded in 2020 and headquartered in Philadelphia, Portabl aims to provide identity management and protection services for financial institutions, banking and digital apps, according to TechCrunch.
The money will be used to build out the team and support the company’s growth.
New Turkish neobank Turan has raised approx 2.5 million dollars in a pre-seed funding round, with the participation of a number of Turkish investors.
Turan aims to be the new bank for Turkish states and aims to give Turkish people access to financial products, including prepaid cards and microloans, in their own language and adapted to their lifestyle.