Financial

DriveWealth has been valued at $2.85bn in a series D round featuring Softbank Vision Fund 2, Citi Ventures and FTX.

Cryptocurrency exchange Coinbase’s corporate venturing arm is among the investors set to boost the payment platform’s expansion.

Over the past few years, roughly a fifth to a quarter of all corporate investors whose deals we track appear to be newcomers.

M12 backed three deals in recent days, including a $50m series D round for Split.io that also featured fellow corporates Atlassian and ServiceNow.

CloudPay plans to expand its offering of financial technology services following an investment led by Olayan Group.

Flipkart’s digital payment spinout has secured the $350m second close led by Walmart and backed by Tencent and Tiger Global, valuing it in the range of $5.5bn to $5.7bn.

Genting Group backed the digital betting payments platform in a funding round led by Cannae Holdings, taking its valuation to over $1bn.

National Grid Partners contributed to data protection software provider Baffle's series B round while Axa and Zendesk exited sales enablement platform developer Seismic.

SoftBank helped the digital financial services provider raise a series G round led by Sequoia Capital, reaching a post-money valuation of $25bn.

Softbank and Tencent backed the digital banking app provider in a series D round which will be use to boost its expansion in Argentina and Mexico, develop new products and scale up its team.

Ventricular assistance system developer CH Biomedical closed a Baheal-backed series D round while peer-to-peer lending platform Alami secured $17.5m in a round led by EV Growth.