ICYMI funding round-up: FlexxPay, Raqamyah, and JustUs – FinTech Futures


With the fast-paced nature of the fintech world generally it’s straightforward for bulletins to slide by. Right here at FinTech Futures we’ve put collectively a “In Case You Missed It” (ICYMI) record of our funding picks this week.

A trio of funding rounds which will have handed you by

Dubai-headquartered fintech FlexxPay raised $3 million in a pre-Sequence A spherical.

Traders included Jameel Funding Administration Firm, Goal International, Wamda, DIFC FinTech Fund, and extra.

Initially introduced again in 2019, the spherical has now closed, bringing the agency’s whole raised to only above $4.5 million.

Based in 2018, FlexxPay allows firms to situation staff with a portion of their salaries.

“The continued help of our current traders and the addition of latest traders is invaluable to FlexxPay’s development and evolution,” says CEO Michael Truschler.

“Giving folks entry to what they’ve already earned is simply the suitable factor to do. They’ve earned it, they deserve it.”

Saudi Arabian crowdlending platform Raqamyah has raised $2.3 million in an funding spherical led by Impact46.

Extra traders embody Imaginative and prescient Ventures, Mad’a Funding, Al Yusr, and Fadeed Funding.

The beginning-up claims to assist small companies entry finance as much as $1.3 million by particular person traders in an internet platform.

“Peer-to-peer lending is without doubt one of the fastest-growing areas in fintech and it’s at its early levels when it comes to innovation and disruption,” says CEO and founder Ammar Bakheet.

Raqamyah plans to make use of its newest funds to adjust to the Saudi Arabian Nationwide Financial institution’s licence necessities.

Lendtech JustUs has gone crowdfunding and raised £1.3 million from 449 traders.

The beginning-up plans to change into a supplier of crowdfunded monetary merchandise for shoppers with its JustUs ISA.

The agency has acquired approval to offer residential mortgages and has accomplished over 850,000 transactions.

It plans to make use of its new funding to energy a brand new stage of development, together with the launch of a “folks’s mortgage” in Q2 2021 and a brand new mortgage servicing platform.

Associated: ICYMI funding round-up: Trade Ledger, Mesh, Safepay, Globacap & more


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