Financial

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

Santander Innoventures has been spun off by its parent company into an autonomously managed fund called Mouro Capital with its capital allocation doubled.

Commerce and payment services provider Interswitch has hired Tony Idugboe to head up its merger and acquisitions.

Greenlight Re-backed business health insurance provider Sana secured $20.8m to take its funding to more than $27m altogether.

Naspers and Rand Merchant Investment both exited digital asset marketplace and wallet Luno, which has been bought by fellow investor Digital Currency Group.

A range of corporate LPs made commitments to the third vehicle raised by the US and Japan-focused venture firm, which has reached a final close.

Special report: pandemic has boosted venture dollars across health AI

Allian X has returned to back the mobile insurance provider in a fresh funding round that included fellow corporate venturing unit CreditEase Fintech Investment Fund.

Prudential and AIA are reportedly in advanced discussions to invest in Grab Financial Group, which is seeking $300m to $500m in capital.

American Express Ventures has been named as an investor in business payment platform developer Melio, which just closed an $80m round that hiked its overall funding to $144m.

Checkout.com made its first investment in the cross-border payment platform as part of a round that will fund its expansion in emerging markets.