Global FinTech Boom: The 4 top Fundraises of September 2024

By Gloria Mathias

The global FinTech industry is witnessing unprecedented growth, with companies across regions securing substantial investments to fuel innovation, expand market presence, and accelerate digital transformation.

In recent months, several notable FinTech firms have attracted significant funding, driving forward advancements in trade finance, InsurTech, embedded finance, and payments infrastructure.

Below are this month’s most impactful funding rounds worldwide, showcasing the sector’s evolving landscape:

• Akur8 secures $120m

Akur8, the machine learning-powered insurance pricing and reserving platform, has secured $120 million in Series C funding, bringing its total raised investment to $180 million. This latest funding round was led by One Peak with participation from Partners Group and Guidewire Software, Inc. The new funding will bolster Akur8’s ability to expand its product portfolio and fuel its growth in key global markets. Akur8 will invest the new funding in R&D to enrich its insurance pricing platform with two new modules, Optim and Deploy.

• Drip Capital raises $113m

Drip Capital, a digital platform for trade finance, has secured $113 million in new funding. This includes $23 million in equity from Japanese institutional investors, GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), and $90 million in debt financing, led by the International Finance Corporation (IFC) and East West Bank. The new funding will expedite market expansion and support the development of new products tailored to customer needs.

• M2P Fintech raises $102m

M2P Fintech, Asia’s banking infrastructure company, has announced the first close of its Series D financing, raising $102 million (INR 850 crores) through a mix of primary and secondary share capital. The funding, led by Helios Investment Partners, values the company at over $783 million (INR 6,550 crores). The funds will be used to cement M2P’s market leadership in India and help grow its international franchise, particularly in Africa.

• Nexi secures €220m financing

European PayTech Nexi Group has secured €220 million in financing from the European Investment Bank (EIB) to support its innovation in the digital payments sector. Nexi will use the EIB funds to develop and manage projects aimed at modernising digital payments in Europe. The funds will also finance specific initiatives that leverage the expertise of Nexi Digital, a European technological innovation hub created in collaboration with Reply.