Here are the key funding updates in the fintech industry:
- Brazil-based Kanastra raises $13 million in a seed round to enhance its capital markets infrastructure platform.
- Majority, a US neobank for migrants, secures $9.75 million in funding and expands its physical presence to Laredo, Texas.
- Indian lending start-up Cloudbankin receives $400,000 in funding to enhance its digital lending SaaS solution.
Facts
- Brazil-based Kanastra raises $13 million in a seed round, co-led by Valor Capital and Quona Capital, to scale its technology platform for debt facilities.
- Investors participating in Kanastra’s round include QED Investors, Actyus, Collaborative, Crestone, Grão, Endeavor, Clocktower, Latitud, and Norte, along with several Latin American company founders.
- US neobank Majority secures $9.75 million in funding from Valar Ventures and Heartcore Capital as a top-up to its Series B round.
- Majority expands to Laredo, Texas, supporting Hispanic migrants and aiming for growth across the US-Mexico border.
- Majority offers mobile banking services to migrants for $5.99 a month, including features like FDIC-insured accounts, a Visa debit card, ATMs access, remittance, and community meet-up spaces.
- Indian start-up Cloudbankin raises $400,000 from angel investors, Upekkha, and Kube VC, to enhance its digital lending SaaS solution for financial institutions.
- Cloudbankin’s offerings include low-code digital onboarding, loan origination system, loan management system, and business rule engine.
- Cloudbankin plans to use the funding to enhance its AI-based low-code platform and launch it within three weeks, catering to various financial products such as business loans, loan against property, housing loans, gold loans, buy now pay later (BNPL), and personal loans.
