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Einat Sukenik – Co-founder & CEO at TradeSquare. Image Credit: TradeSquare

Funding roundup January 17 – January 21: Tiger Global invests in three Australian startups this week, Proptech HappyCo raises $72m, and Wayflyer plans to invest $100m in Aussie eCommerce businesses

Dynamic Business brings you the key startup fundraising rounds from this week:

TradeSquare Raises $28m From Tiger Global in Bid to Reinvent Wholesale

Online wholesale marketplace startup TradeSquare has raised $28m from US investment firm Tiger Global. Tiger Global’s previous investments in Australia’s eCommerce industry include the B2C startup Catch.

As online marketplaces continue to revolutionise retail worldwide, from Amazon to Alibaba, TradeSquare believes that the next phase of digital transformation is B2B wholesale.

Personetics secures $85m from Thoma Bravo

Personetics, the leading global provider of financial-data-driven personalisation and customer engagement solutions for banks and financial services providers, announced that it had raised $85 million in growth capital from Thoma Bravo, a leading software investment firm.

Personetics doubled its valuation and received more than $160 million in funding in 2021. Viola Ventures, Lightspeed Ventures, Sequoia Capital, Nyca Partners, and Warburg Pincus PE have invested in Personetics.

Personetics has also announced that it is expanding its operations in Australia to better serve its growing customer base in the region.

Wayflyer’s plans to inject $100m into Australian eCommerce businesses

Europe’s fintech startup Wayflyer aims to invest $100 million in eCommerce businesses. Wayflyer has grown its staff by more than 400 per cent in less than a year since its launch in Australia, has provided $60 million to local eCommerce entrepreneurs, and is now actively supporting over 150 of Australia’s fastest-growing eCommerce brands.

Dovetail raises $87m in Series A

Dovetail, a customer research platform, has raised $87 million in a Series A round, the software startup’s first major funding round. Accel led the round with existing investors, including Blackbird, Felicis Ventures, Grok Ventures, and CultureAmp CEO Didier Elzinga. Slack CEO Stewart Butterfield, Wedflow CEO Vlad Magdalin, and Checkr CEO Daniel Yanisse are new investors.

This gives the company a post-money valuation of US$700 million (A$970 million), bringing the total funding raised since its inception in 2017 to US$71 million.

Tiger Global injects $75 m in grocery delivery startup Milkrun

Tiger Global Management, a US venture capital firm, has led a $75 million Series A investment in Milkrun. The 10-minute delivery service, founded by Koala co-founder Dany Milham, only launched four months ago, having previously raised $11 million in June 2021.

Existing backers Airtree, Skip, and Grok joined Tiger on the new capital injection. The latter two were the family investment vehicles of Atlassian billionaires Scott Farquhar and Mike Cannon-Brookes.

B2B marketplace Catch raises $28m from Tiger Global

Tiger Global, a US venture capital firm, has invested $28 million in a B2B marketplace created by the former CEO of eCommerce platform Catch. Tiger previously backed Catch, contributing to a $75 million Series A round for a Sydney grocery delivery startup this week.

TradeSquare, founded in 2020 by former Catch CEO Nati Harpaz and entrepreneur Einat Sukenik, is a B2B wholesale marketplace.

Proptech startup HappyCo raises $72m led by Camber Creek

Adelaide real estate software company HappyCo has raised US$52 million (A$72m) in a Series B, and it looks to ramp up its US expansion. The raise was led by US venture capital firm Camber Creek.

The cash will be used to develop new services and hire more Australian staff as co-founders Jindou Lee, and Andrew Mackenzie-Ross look towards to emerging build-to-rent market.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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