- Fiat Republic Funding:
- UK-based Banking-as-a-Service platform Fiat Republic raised $7 million in a seed extension round.
- Investors include Kraken Ventures, Fabric Ventures, Arca, Inovo Ventures, Speedinvest, Credo Ventures, and Seedcamp.
- Aims to bridge web3 and traditional banks, facilitating easy account creation in multiple currencies for crypto platforms.
- Plans to use funding for sustained growth, key hires, banking partnerships, and expansion into new territories.
- Granted an electronic money institution (EMI) license by De Nederlandsche Bank for regulated services in the European Economic Area.
- Hakbah Series A Funding:
- Saudi Arabian fintech Hakbah secured $5.1 million in a Series A fundraise.
- Founded by Naif AbuSaida, Hakbah offers a social savings platform.
- Funding led by VentureSouq with participation from M-Capital, Bunat Ventures, Global Ventures, and Aditum Investment Management.
- Funds earmarked for product development, particularly in machine learning, and expanding into two regional markets.
- Focus on hiring new talent and potential expansion via partnerships or strategic alliances.
- Payble Funding:
- Australian fintech Payble raised $2.4 million (AUD 3.5 million) in a funding round led by OIF Ventures.
- Founded in 2020, Payble provides payment workflow and customer engagement software.
- Aims to modernize local government payments with citizen-centric experiences.
- Funding to capitalize on strong demand in local government payments and explore global expansion opportunities.
- Spare Funding:
- Saudi Arabian open banking services provider Spare raised $3 million in a funding round led by Vision Ventures.
- Established in 2018, Spare operates in Saudi Arabia, Kuwait, and Bahrain, offering open banking solutions.
- Funding is to be used for hiring, marketing, and operations in Saudi Arabia (KSA).
- Founded by Dalal Alrayes and Saurabh Shah.
ICYMI fintech funding round-up: Fiat Republic, Hakbah, Payble and Spare
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