As the internet has grown so to have the opportunities to develop new business models, which has led to an explosion in online marketplaces and platform businesses. Those businesses require a new kind of financial services to underpin them and Australia’s PromisePay aims to serve that market.
The firm has just picked up $10m in new funding led by Carsales.
Founded in Melbourne, the firm is headed up by Simon Lee who previously worked at financial institutions including AXA, EBS, Skandia and National Australia Bank. Meanwhile, its CTO is Simon Kones, previously at Telstra, Ericsson, NEC, Fujitsu and GKN Aerospace.
The firm also has offices in San Francisco and was previously backed by Cultivation Capital in the US, as well as Reinventure and rampersand in Australia and Kima Ventures in France. Reinventure and rampersand also participated in this latest round.
Metromile has just landed nearly $200m in Series D funding for its auto insurance payments platform.
London fintech startup Curve has picked up another $3m in funding to replace all the different payment cards in your wallet with just one.
Signifyd, the company that provides fraud protection for e-commerce businesses, has raised $19m in a funding round with investors including American Express Ventures, Menlo Ventures and Triple Point Capital.
Fintech will be a key focus for Spotify and iZettle-backer Northzone as it announces a brand new €300m venture capital fund to invest in early-stage European startups.