Financial

Innovative region: Brazil

Sector challenged amid fintech disruption

IQM Quantum Computers, a Finland-based quantum computing spinout of Aalto University and VTT Technical Research Centre, attracted a €39m ($46m) series A round from investors, including internet group Tencent.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Banco Sabadell exited the salary advance service, which was incubated by Sabadell-backed venture builder Nuclio, in a purchase by counterpart Hastee.

Mitsui Fudosan has come onboard as the open banking software producer secured funds that will support global growth and product development.

The digital mortgage lender increased its valuation from $600m to $4bn in a series D round backed by Ping An and American Express Ventures.

The acquisition of insurance marketplace CoverHound comes after $112m in funding from investors including Hiscox, Chubb, MS&AD, Aflac Ventures, Ace Group and American Family Ventures.

Grab led a series B round for the digital wallet provider that also featured Telkomsel and corporate venturing units BRI Ventures and Mandiri Capital.

First Data and Salesforce Ventures are set to exit the digital commerce technology provider after it agreed to be purchased for $440m in cash and stock.

China-based financial services provider Ant Group, spun off by e-commerce group Alibaba, intended to float on the Shanghai and Hong Kong stock markets.