Startup Rise EU News’ Post

Funding Milestone Palm, a Swedish-Dutch fintech startup, raised €5.5 million in seed funding, led by Speedinvest and Target Global. - ⁠Key Backers Notable angel investors include Job van der Voort (Remote) and Philippe Teixeira da Mota (ex-Hedosophia). - ⁠Problem Solved Palm’s platform helps treasury teams manage cash across hundreds of bank accounts and subsidiaries, reducing operating cash balances by over 30% and improving forecasting accuracy. - ⁠Founders’ Expertise Co-CEOs Gurjit Pannu (ex-Uber) and Christian Sobkowski (ex-Juni) bring a decade of experience managing billion-dollar treasuries. - ⁠Innovative Approach Palm’s AI-driven solution enhances cash forecasting by providing a comprehensive view of past and future cash flows, implemented in weeks, not months. - ⁠Market Demand Cash forecasting has been a top priority for European treasurers for five years, and Palm is addressing this need with cutting-edge technology. - ⁠Future Plans The startup will use its new funding to expand its team, forge partnerships with consultancies, and grow across Europe, the UK, and the US. #jakartacorporatefinancegroup

Argentina based Moonflow raises a $1.74 million round led by TheVentureCity #Fintech company #Moonflow has successfully raised $1.74 million in a seed round led by #TheVentureCity, with participation from Salkantay Ventures, Amador Holdings Inc., and Morro Ventures. This recent funding follows Moonflow's pre-seed round in October 2023, bringing the total financing to $2.5 million. Founded in 2023 by CEO Facundo Turconi, Moonflow specializes in automating accounts receivable management. Their innovative software serves fintechs, financial companies, and any business handling more than 100 accounts receivable each month. With clients across 22 countries, Moonflow is already making a significant impact and aims to reach 1,000 corporate clients. The new funding will be used to accelerate product development and enhance their receivables platform. Andrés Dancausa, General Partner at TheVentureCity, praised the Moonflow team, saying, "Facundo and the Moonflow team have shown exceptional capability in innovating and executing their vision. We are thrilled to support them in transforming account receivables management for businesses worldwide." Moonflow's software promises transformative changes in how companies handle accounts receivable, achieving cost efficiency and improving key metrics to levels previously unimaginable. Businesses in various sectors, including utilities, goods and services, education, healthcare, and real estate, are already leveraging Moonflow to streamline their collections. This investment highlights Moonflow's potential to revolutionize accounts receivable management globally, starting with a strong focus on Latin America. The implications are significant, as more businesses adopt Moonflow's technology, driving efficiency and growth in their financial operations. The article on #LatamFintech in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

Estonian back-office operations management solution for SMEs enty has raised €700K in a seed round from UK-based TMT Investments Plc, #Finnish Trado Capital, and a group of angel investors. Founded in #Tallinn in 2020 by Kirill Zheleznov and Jane Shmygaleva, Enty is a control panel that allows SMEs to handle multiple processes simultaneously, and automate them. For instance, issuing invoices with payment links, creating contracts, e-signing them, reviewing them with AI technology, managing finances, hiring staff, automating accounting, etc. The solution operates on a subscription basis and ensures compliance with EU, EEA, and UK local regulations. Enty has onboarded more than 2.5K #European companies, and its ARR reached €1M in 2023. All about Baltic startups and VC https://balticvc.com #Estonia #startup #startups #tech #technology #technologies #TechnologyNews #TechNews #Deal #Deals #VentureCapital #VC #Management #SOLUTION #SMEs #artificalintelligence #ArtificialInteligence

As its first major consolidation in Pakistan’s WeathTech sector, Elphinstone, an investment platform backed by Y Combinator has officially acquired Trikl (acquired by Elphinstone), a Pakistani WealthTech startup backed by Orbit Startups. Trikl’s Co-founder and CEO, Haseeb Siddiqui, expressed his gratitude and enthusiasm for future endeavors as a member of the Board of Directors for Elphinstone, while stepping down from his role. Elphinstone’s Co-founder and CEO, Farooq Tirmizi, commented on Trikl’s role in accelerating the company’s mission of deepening domestic capital markets. Elphinstone aims to bolster its digital asset and personal finance offerings by integrating Trikl's technology and regulatory framework, expanding its product range, market reach, as well as introducing innovative digital financial solutions to Pakistani users. It also seeks to expand retail investing in Pakistan by offering new asset classes like domestic mutual funds and 401 (k)-style provident funds, aligning with SECP's supportive regulations to strengthen the local capital market. Since its foundation in 2020, Elphinstone now manages over $1 million in assets and has raised $1.5 million from prominent investors as it continues to empower Pakistani investors to trade U.S. stocks and ETFs via its mobile app, Elphinstone US. #DigitalPakistan #TechUpdate

🚨 Unreported Funding News in Fintech: Is Prospa a Cinderella Story or a Dumpster Fire? 🚨 This week on The Growth Cartel weekly update 🎧 Ah, #fintechs — the darlings of the Australian startup scene... until they weren't. Take Prospa, for example. Sure, they've raised millions, gone public, and even bagged a few #finnies for business excellence (seriously, still calling yourselves a startup🤷♂️). But here's the kicker: they've also incinerated over $500 million in shareholder value and never hit sustainable profitability. Ouch! 🙈 It makes you wonder: What even is a successful #fintech? Raising funds? IPO'ing? Or sitting on an unsustainable business model and calling it innovation? 🤔 FinTech Australia, love you all, but awarding "Excellence" to a company like Prospa feels... a bit rich. How about next year at the #finnies, we reward innovative and profitable businesses or, at minimum, have a defined path to sustainable profitability? Deal? 😉 We need more competition in Australia's SME lending space, so here's hoping the Salter Brothers Tech Fund acquisition finally helps them find a sustainable and profitable model. #Fintech #StartupLife #InnovationOrIllusion #AustraliaFintech

VCs double down on fintech Coast, which aims to be the Brex for ‘real-world’ industries Venture capitalists are doubling down on Fintech Coast, a rising star in the startup ecosystem with ambitions to become the 'Brex for real-world industries'. As the fintech sector continues to revolutionize traditional financial services, Fintech Coast stands out for its innovative approach targeting industries beyond the tech sphere. Backed by enthusiastic venture capital funding, Fintech Coast is poised to redefine how traditional industries interact with financial services. Much like Brex transformed corporate credit cards, Fintech Coast aims to streamline financial operations for a wide range of businesses, from manufacturing to retail. With VCs placing their bets on this promising venture, Fintech Coast is set to make waves in the fintech landscape, offering tailored solutions to industries that have long been underserved by traditional financial institutions. Keep an eye on Fintech Coast as it paves the way for a new era of financial innovation across diverse sectors. #FintechCoast #VentureCapital

The 5 most promising fintech startups of 2024 Explore the top 5 fintech startups of 2024 through engaging infographics, showcasing promising innovations in the financial technology landscape. Stay informed about groundbreaking developments in the industry. 📊 #fintechstartups #techtrends #top #finance #fintechinnovation

It was great to have you here, Holland Fintech Association, VCs and Fintech Startups. Here’s to your bright future! 🌟 bureau Brandeis | Holland Fintech Association | VC meets Fintech #VCmeetsFintech #FintechStartup #Fintech #Startup #VC #Innovation #financialregulation #litigation #disputeresolution

This is the most popular slide in our overview of the UK FinTech ecosystem Its a complete list of who has a physical presence in the UK and is investing in FinTech It was assembled by a ex-entrepreneur who has been down the fundraising path Founders aren't looking for a big "how to guide" on how to build a startup. They're looking for who is investing, how much, and at what stage. Blog post: https://lnkd.in/eyerwfXZ Pitch deck: https://lnkd.in/eZx2ZCvz