Financial

The bank is now part of a $17m series A round for the financial investigation software developer led by Index Ventures last November.

Progressive Insurance has invested in Varo Money as the latter prepares to become the first digital bank to be awarded a national bank charter.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

MassMutual Ventures now has $450m under management across five funds, with its third main fund to invest in North America, Europe and Israel.

Kobayashi and Daikin Industries are among the limited partners for the investment firm’s latest fund, which has a target of about $74m for its final close.

Yahoo Japan’s YJ Capital unit was among the investors in a $27.9m round for the blockchain technology provider that will go to improving its products and hiring talent.

Gene sequencing corporate spinoff MGI Tech closed a $1bn series B round backed by IDG Capital and CPE Capital. The company offers an array of products, some of which have been used for Covid-19 detection and forms part of the promising space of genetics tech.

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

Existing backer Experian Ventures was among the investors as the text message-based financial education provider raised $12.6m.

An undisclosed investor provided the funding at a $4.3bn valuation, Marqeta having previously raised nearly $370m from backers including Commerzbank, Visa and CreditEase.

Existing investor Sirius was among the investors as the worker's compensation provider received a total of $127m, with $100m allocated to the launch of an affiliate called Pie Carrier.