Financial

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

GMO and Telkom Indonesia-backed Red Dot Payments was valued at $65m in a deal in which Naspers subsidiary PayU bought a majority stake.

The $33.6m vehicle will invest through security services and technology provider Prosegur's Prosegur Tech Ventures subsidiary, in startups developing security and fintech products.

Regional subsidiary Banregio will use BackStartup’s technology to automate its customers' back office tasks following its parent company's $800,000 investment.

Sumitomo Life Insurance acquired a stake sized at about 25%, in a deal that increased the online life insurance providers' total funding to $153m.

Tiger Global-led a series B round that will enable the Recruit-backed business current account platform to expand its service and product range.

Grab has so far raised $4.8bn series H round, after Invesco chipped in $300m in addition to the funding provided by corporate investors like SoftBank Vision Fund, Microsoft, Toyota, Ping An and others since June last year.

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

Redbee has launched Venturebees with a $630,000 investment to back fintech, insurtech, marketing and digital media startups in Argentina.

Online trading risk platform Mitigram has raised $10.7m in the round, which included Mandatum Life and brought its total funding to $17.5m.

Nuno Carvalho, formerly director of innovation and corporate venturing at Bekaert, has spoken to GCV about his new remit as an investment director for KBC's VC investment vehicle, KBC Focus Fund.