Novus, Bumper, topi, Toucan, & Reason
With the fast-paced nature of the fintech world, it’s easy to miss announcements every now and then. Here has FinTech Futures, every week we put together a Fundraising Choices List In Case You Missed It (ICYMI) for your reading.
UK impact banking app Novus exceeded his £ 900,000 in crowdfunding target a few minutes after the launch of its crowdfunding campaign.
Founded by five entrepreneurs sharing backgrounds in FinTech, software growth and sustainability, Novus describes itself as “a next-generation digital banking and lifestyle app that uses the power of technology to drive positive impact. of daily financial activity ”.
Its mission is to become a “super app” for the growing segment of “conscious consumers”. It plans to launch in December on its waitlist of more than 25,000 users, followed by a wider launch in January 2022.
Earlier this year, Novus secured £ 1million of pre-seed investment, received regulatory approval from the Financial Conduct Authority (FCA), signed over 100 sustainable brands and ten NGO partnerships and has built its own basic banking infrastructure.
It also became the first digital banking app in the UK to become a certified B Corporation.
It currently employs 30 people.
Bumper raised $ 12 million in Series A financing to introduce its auto repair financing platform across Europe. Already present in the UK and Ireland, Bumper is currently rolling out its product in Germany, with plans to launch in Spain and the Netherlands in the next three months. The company aims to be present in all major European markets by the end of 2022.
He’s also working on a new consumer app, which will serve as a one-stop-shop for all automotive requirements, such as paying congestion charges, parking and tolls, and approving repair work. The app is expected to launch in the UK in early 2022.
The funding round was led by Silicon Valley-based Autotech Ventures with participation from Jaguar Land Rover’s InMotion Ventures fund and a group of angel investors.
It brings the total funds raised by Bumper since its inception in 2013 to $ 17.5 million.
Bumper allows customers to spread the cost of auto repairs by offering flexible, interest-free payments to help drivers better pay for needed repairs and maintenance.
With new car purchases currently at their lowest since 1998, there is a booming used car market with a growing need for funding for repairs on older vehicles, according to Bumper. This is reflected in the European aftermarket, which is expected to reach € 300 billion by 2030.
Along with the mainstream offering, Bumper is partnering with automakers such as Volkswagen Group, Ford, Jaguar Land Rover and Nissan, and around 60% of the UK franchise market currently uses Bumper’s payment platform.
Bumper claims that it is “BNPL’s only provider to aggregate thousands of auto and consumer credit data, with extensive affordability checks, ensuring it always lends responsibly.”
Based in Berlin topi raised a $ 4.5 million pre-seed round, co-led by Index Ventures and Creandum. Angel investors who have joined the round are Dominik Richter (founder of HelloFresh), Max Tayenthal (founder of digital bank N26) and Fabian Wesemann (founder and CFO of WeFox).
Founded by Estelle Merle and Charlotte Pallua in 2021, the company aims to “become a global catalyst for fast and frictionless payments for business-to-business (B2B) commerce”.
The B2B payment solutions market is valued at $ 120 trillion and is expected to be five times that of the consumer payments market by 2028. Yet most payments for trade remain manual and fragmented .
“Topi has the potential to become the connective tissue that facilitates B2B payments around the world,” says Jan Hammer, general partner at Index. “B2B payments are the sexy cousin of consumer payments, but the opportunity is much greater. “
UK based Toucan raised £ 800,000 of 13 investors (beating its seed funding target of £ 500,000) to launch its charitable giving app.
Through the Toucan app (which is still in beta), users can create a personal portfolio of up to three charities and split a single monthly donation among them. Donors can support the same long-term charities or change each month.
“We founded Toucan with a vision to create a world in which giving is second nature,” said CEO Matt Crate.
“We have developed an intuitive app that uses modern technology to be a force for good, bridging the gap between donors and the causes that matter most to them. “
Estonia-based investment app Raison raised $ 900,000 in seed funding with a valuation of $ 11.5 million, led by Server Partners.
At the end of 2020, the start-up raised $ 150,000 in pre-seed funding from an angel investor.
Raison says it is building “the world’s first late risk market,” offering investment deals starting at € 1 through its app.
The app is backed by SEC-regulated US investment firm Raison Asset Management, which has seven years of experience in financial markets and over $ 50 million in assets under management.
“By creating the world’s first legal structure using blockchain, the start-up has opened up the possibility for retail investors to invest in the largest private companies like Klarna, SpaceX or Scale AI,” the company says.
The platform has 17,000 users worldwide and is expected to exceed $ 1 million in revenue by the end of the year.