Citi Ventures took part in a $43m round for Masttro while Banpu Next and Equinor Ventures contributed to Green Li-ion’s $20.5m pre-series B.
Fund
Tenity, the Switzerland-based startup incubator and accelerator operator previously known as F10, has formed a strategic partnership with financial services firm UBS. The latter’s corporate venturing arm, UBS Next, has made an investment of undisclosed size in Teinity Incubation Fund to help strengthen the financial technology sector in the country.
Bankruptcy
Railsr, a UK embedded finance platform backed by financial services firm CreditEase, has filed for bankruptcy protection and been acquired by a shareholder consortium, Embedded Finance, which is led by D Squared Capital and which includes Moneta VC and Ventura Capital. Creditease took part in Railsr’s $46m series C round in October 2022.
M&A
Transaction services provider Cuscal has agreed to acquire a majority stake in Basiq, an Australia-based consumer data aggregator that counts enterprise software producer Salesforce, payment services provider Visa and financial services firm Westpac and National Australia Bank as investors, for an undisclosed sum. National Australia Bank’s NAB Ventures unit and Westpac-backed venture capital firm Reinventure had provided an undisclosed amount for Basiq in 2017.
Funding
Masttro, the US-based operator of a family office-focused wealth management platform, raised $43m in a growth equity round led by FTV Capital that also featured Citi Ventures, the corporate VC subsidiary of financial services firm Citi.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Green Li-ion | Battery recycling technology developer | Energy and Natural Resources | Singapore | Pre-B | 20.5 | 10/03/2023 | Banpu (Banpu Next), Equinor (Equinor Ventures); Energy Revolution Ventures, Trirec |
| Violet | Decentralised finance-focused identity authentication platform | IT | Germany | N/A | 15 | 09/03/2023 | Coinbase (Coinbase Ventures); BlueYard Capital, Balderton Capital, Ethereal Ventures, FinTech Collective, Brevan Howard |
| Wheel the World | Disability community-focused travel accommodation provider | Services | US | Pre-A | 6 | 09/03/2023 | Wilson Electronics (WeBoost), REI Co-op (Path Ahead Ventures); Kayak Ventures (lead), Detroit Venture Partners, Gillian Tans, Dadneo, CLIN Fund, Amarena |
| Connectd | Startup and investor relationship management platform | Services | UK | Seed | 5.7 (updated) | 13/03/2023 | Arch.Law; Life Ventures, Blue Lake, Mail Venture Partners, Syndicate Room, Nigel Wray, Toni Nijm, Steve Castle |
| Tiamat Sciences | Plant-based recombinant protein developer | Industrial | US | N/A | 5 (updated) | 09/03/2023 | Alexandria Real Estate Equities; 8090 Industries, True Ventures, Social Impact Capital, Cantos, Portfolia, Siddhi Capital, Sara Murray, SeedFolio, Sustainable Food Ventures, Exponential Impact |
| Tallarium | Energy trading analytics provider | Energy and Natural Resources | UK | N/A | 1.6 | 13/03/2023 | XTX Markets (XTX Ventures); Reciprocal |
| Tonstarter | The Open Network-focused fundraising platform for crypto projects | Financial | UAE | Seed | 1.5 | 08/03/2023 | Gate.io, Digital Wave Finance (DWF Labs); Kingsway Capital |
| Sift Healthcare | Payment management software producer for healthcare providers | Healthcare | US | N/A | N/A | 09/03/2023 | IKS Health |
| Neocol | Subscription service-focused customer management platform | Services | UK | N/A | N/A | 13/03/2023 | Salesforce (Salesforce Ventures) |
| Revelya | Web3 gaming and metaverse marketplace | Media | Japan | N/A | N/A | 13/03/2023 | Link-U |
