Dynamic Business brings you the key startup fundraising rounds from this week:
SME lender Lumi raises $20m for workforce expansion
Lumi, an Australian financial technology company and leading alternative lender, has completed a $20 million capital raise. Perennial Partners joined Lumi as a new strategic investor in the round, along with a group of others.
Existing Lumi investors, including cornerstone investor Josh Liberman Investment Group, also participated in the round. Alexander Funds Management and Roadnight Capital provided the junior debt.
Lumi has doubled its headcount to 60. It plans to double this figure again in 2022.
Carma secures $28m from Tiger Global
Carma, an Australian online used car dealership, has announced that it received US$20 million (about $28 million) in funding from Tiger Global in March 2021.
Carma is about to launch its online platform and is already in discussions with investors to raise funds to support its accelerated expansion in 2022.
Customers will be able to search, buy, and finance quality reconditioned pre-owned vehicles, which are delivered to their homes.
Unlike online classifieds and marketplaces, Carma will own the vehicles and provide a full end-to-end digital purchase process, including instant financing from leading fintech companies.
Relevance AI raises $4m from Insight Partners
Relevance AI, a 2020-founded Australian startup, has announced a $4 million capital raise from Insight Partners, a New York-based global private equity and venture capital firm, with participation from Galileo Ventures and Archangel Ventures.
Relevance AI intends to use the funds to double its headcount and expand its global customer base.
Relevance AI products are already used by over 3 million end-users, with 100 million weekly requests across all industries, including SaaS, e-commerce, education, and gaming.
Aussie logistics company Ofload raises $20m in Series A funding
Logistics start-up based in Sydney Ofload has completed its Series A funding round, raising $20 million in private capital as it continues its growth trajectory in the aftermath of the COVID-19 pandemic.
New investors from Australia and the United States, including King River Capital, Flexport, and Bay Grove, have contributed to the funding, which has also been increased by Maersk Growth, Global Founders Capital, Flash Ventures, and Foundamental.
With this new funding, Ofload’s valuation has risen to more than $100 million. The funding will help the digital freight forwarder and transportation management start-up expand operations and hire more than 100 new employees.
Marketplacer raises $38 million
Marketplacer, a global technology platform that enables brands, retailers, and suppliers, is forging ahead with its US expansion following a $38 million funding injection.
Acorn Capital, Ellerston Capital, Endeavor Asset Management, Lennox Capital Partners, Mirrabooka, OC Funds, Salesforce Ventures, and SG Hiscock are among the investors in Marketplacer’s latest funding round, which totalled more than $85 million.
Fifth Estate, Washington H Soul Patterson, and Wunala Capital are among the new investors in this round.
Finder secures external equity of $30 million to accelerate global growth
Global fintech Finder announced that it has received its first external funding after 15 years of bootstrapping. Future Now Capital, a specialist technology growth investor, has committed an initial $30 million, kicking off the capital raise process for Finder.
The funding implies a pre-money valuation of $650 million for Finder. The funding will help Finder develop innovative and compelling consumer products in key markets such as Australia, the United States, the United Kingdom, and Asia.
Blockchain-powered fintech platform Block Earner raises $6.4m
The blockchain-powered fintech recently closed a $6.4 million (US$4.5 million) seed funding round led by Framework Ventures, bringing its post-money valuation to $56.4 million (US$39.5 million).
Block Earner is developing a platform that will allow everyday savers and investors to easily access the benefits of Decentralized Finance (DeFi). Block Earner is gearing up for a full launch in early 2022, with a waitlist now open to prospective customers.
Afterpay-backed Touch Ventures invests in Skalata Ventures
Skalata Ventures, an Australian early-stage venture capital firm, has announced Touch Ventures as a key investor in Skalata Fund II. This has pushed the fund past the $25 million mark on its way to a total fund size of $50 million.
Anthony Eisen, the co-founder of Afterpay, has also taken a personal stake in the fund, which will invest in and provide operational support to 50 Australian start-ups through Skalata’s seed investment program.
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