US fintech funding: OatFi, Fintor and StandardC
This week’s Friday funding round includes three US-based fintech start-ups – OatFi, Fintor and StandardC.
OatFi comes out of stealth with funding
Fintech startup OatFi have emerged from stealth with 8 million dollars in seed funding led by QED Investors.
Also participating in the round were existing investors Portage Ventures, Picus Capital and Cambrian Ventures, and the addition of new investors Fin VC, Dash Fund and Lorimer Ventures, and Ziv Paz, co-founder of Melio.
The new round brings OatFi’s total funding to $11.25 million after it raised $3.25 million in a pre-seed round earlier this year.
OatFi has also secured a $50 million credit facility from Architect Capital. The funds will be used to build the product and expand the team.
Founded in 2021 and based in New York, OatFi provides end-to-end infrastructure for B2B payment platforms to launch embedded finance tools such as buy now pay later (BNPL) or various receivables financing products.
Fintora fintech startup that enables real estate investment has launched its mobile-first platform and raised more 6.2 million dollarsbringing total funding to date to $9 million.
Key investors in the round include Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene Ventures and angel investors.
The additional funding will be used to expand Fintor’s user base while expanding the number of investment properties. In the first part of 2023, it says it is looking to expand across the country to 20+ markets.
Fintor allows users to invest in real estate from $5 and diversify their investment portfolios without having to own real estate.
The platform does this by purchasing rental properties, securitizing the asset and issuing shares in an LLC that owns a property. Through its proprietary Initial Realty Offering (IRO), Fintor launched its first investment properties based in Alabama, Georgia and Tennessee.
Headquartered in Palo Alto, California, Fintor claims a waiting list of over 20,000 users and is fully qualified under US Securities and Exchange Commission (SEC) regulation.
StandardC has secured 4.75 million dollars in Series A financing from Hard Yaka.
The company is also launching the StandardC Monitoring Center to automate Know Your Customer (KYC) and supplier intelligence functions for financial institutions, enterprise-scale customers and customers interacting with highly regulated, compliance-intensive customers or suppliers.
The StandardC software platform creates and maintains “data-rich” digital identities to facilitate customer enrollment and monitor ongoing compliance for businesses, with the aim of improving customer experience and business development opportunities.
The San Francisco-based company aims to use the funding to expand its workforce and expects to double its team size by 2023.
