Blend Network, Canza, IMAN, NayaPay, NymCard, Plinqit and Tiiik


AT FinTech future, we know it can be easy to overlook funding announcements in this fast-paced industry. That’s why we’ve set up our weekly In Case You Missed It (ICYMI) Funding Roundup for you to get the latest funding news.

Blend Network raises £10m

UK based mortgage lender Mixed network has secured £10m in funding in its last investment cycle.

The oversubscribed round was led by emerging venture capitalist Nico Paraskevas (former senior executive at Glencore) with participation from existing investors such as Cyrus Ardalan (former Vice Chairman of Barclays and current Chairman of OakNorth Bank and CAF Financial Solutions) and Jean-Philippe Blochet (co-founder of macro hedge fund Brevan Howard).

Backed by family offices since 2019, Blend also counts among its investors the family office of the president of the Publicis group Maurice Levy.

Blend says it now gets less than 10% of its funding from narrow retail investors, who made up the majority of its backers just a few years ago.

“Blend’s platform offers SMBs a level of service previously reserved for large, established developers, saving them significant time and effort,” the company says.

“It also provides family offices seeking exposure to development finance loans with Origination-as-a-Service, including full security, transparency and an enhanced due diligence process applied to all loans. “

Blend claims to have doubled its loan volumes every year since 2019.

The latest funds will be used to scale its origination team and invest in technology.

Canza Finance raises $3.27 million

Canza Financesan emerging markets neobank that claims to be building “the largest non-institutional financial system in the world,” has completed a $3.27 million seed round.

The fundraising was led by Fenbushi Capital, with participation from Dominance Ventures, Bixin Ventures, Consensys, Protocol Labs, Emergo Ventures, MEXC Global, NGC Ventures, XanPool, Hashkey, Celo Founders and others.

The money will be used to expand the team and services in its home market of Nigeria as well as beyond, including South America and Asia.

Established in 2020, Canza leverages decentralized finance (DeFi) and a network of local money market players to distribute financial and transaction-based services to users in Sub-Saharan African countries.

Canza’s crypto on/off-ramp services enable various DeFi offerings such as staking, peer-to-peer (P2P), and cross-border settlements.

He is also a member of Celo’s Alliance for Prosperity, an ecosystem of over 140 organizations including nonprofits, merchants, and payment processors using the Celo blockchain. Canza says he has over 7,000 Celo wallets created through the USSD DApp with weekly transactions averaging over $200,000.

IMAN raises $1 million

IMANan Islamic fintech start-up in Uzbekistan, closed a $1 Million Seed Funding Round.

IMAN’s offering includes IMAN Invest, an investment platform, and IMAN Pay, a Sharia-compliant buy-it-now, pay-later (BNPL) solution.

The round saw participation from Battery Road Digital Holdings, Tesla Capital, UZCARD Ventures, MyAsiaVC, Le Mercier’s Capital, Block0, Vector Crypto Capital and IT-Park Investments.

A number of angel investors from Uzbekistan, Kazakhstan, Singapore, the United Arab Emirates and the United States also participated.

It plans to launch outside of Uzbekistan, to other predominantly Muslim markets, by 2023 and hopes to raise an additional $1 million in its pre-Series A funding round.

IMAN claims to be unique in the BNPL space because it uses a Murbaha (cost-plus) financing structure.

It has also entered into a separate Islamic buy/sell agreement with the traders.

Additionally, IMAN does not generate revenue from late fees or other charges.

To scale IMAN Invest, it seeks to build a decentralized finance (DeFi) protocol that will connect investors seeking sustainable halal returns with consumers seeking funds in frontier markets.

NayaPay raises $13 million

Based in Pakistan NayaPay raised 13 million dollars in a funding round led by Zayn Capital, global fund manager MSA Novo, and early-stage Silicon Valley VC Graph Ventures.

Singapore-based Saison Capital, Waleed Saigol’s Maple Leaf Capital, and Empower Finance CEO Warren Hogarth also participated in the round, alongside a major investment from sponsors Lakson Group – a Pakistani conglomerate with interests in media, telecommunications, industry and finance. services as well as a majority stake in Colgate-Palmolive Pakistan and McDonalds Pakistan.

The startup, which is in private beta, claims it is the first fintech of its kind in Pakistan. It recently obtained the country’s first electronic money institution license from the central bank.

“NayaPay aims to be at the forefront of digitizing Pakistan with its two-sided platform for the underbanked,” it says.

The fintech has launched its chat-driven “super-app” aimed primarily at students and freelancers and is building a software-as-a-service (SaaS)-based platform called NayaPay Arc, offering universal acceptance tools payments and financial management for small and medium enterprises. medium-sized enterprises (SMEs).

“NayaPay’s platform strategy will leverage network effects between consumers and merchants, as seen on platforms such as Square Cash/Square, WeChat Pay, AliPay and Venmo in their native markets,” explains he.

Mashreq invests in NymCard

NymCard received a undisclosed Mashreq Bank investment in exchange for a stake in fintech, which the bank describes as “the only banking-as-a-service (BaaS) provider in the Middle East.”

This investment is part of Mashreq’s fintech fund. Fernando Morillo, Global Head of Retail Banking at Mashreq, said the bank “recognizes the critical role fintechs play in growing financial inclusion and the digital economy.”

Omar Onsi, CEO and Founder of NymCard, describes the deal as “a major milestone”.

“Through this new relationship, NymCard has dramatically reduced the cost and time it will take for fintechs to get established in the UAE, with innovative payment cards that support their business models, leveraging our modern infrastructure. open and API-based,” says Onsi.

NymCard was founded in 2018 in Abu Dhabi. Last year, he raised $7.6 million in a Series A round.

Plinqit raises $5 million

Michigan, US-based fintech Plinqit raised $5 million in its Series A funding roundbringing its total capital raised to just under $10 million since its inception in 2013.

Nashville-based Fintop Capital and New York-based JAM FINTOP co-led the round, with participation from current investors including Invest Detroit, a nonprofit lender, investor and partner support organizations through Detroit; Michigan Rise, an investor in Michigan tech start-ups to help bring innovative technologies to market; and Michigan-based 4Front Credit Union, among others.

“Created by millennials for millennials,” Plinqit says it “specializes in providing financial institutions with a cost-effective customer acquisition strategy while providing tools that improve their financial well-being.”

It also claims to be “the only savings platform of its kind that pays users to learn more about personal finance” with its Build Skills offering.

The start-up claims that, on average, it costs less than the cost of a traditional savings account for financial institutions.

It also provides a virtual account management system – Vi.Ledger – which gives financial institutions the basis to create their own personalized savings program using virtual accounts in the app.

Tiik raises $3.8 million

Based in Australia Tiik raised 5.2 million AUD ($3.8 million) in a funding round to build a digital wallet.

“We have built a financial model that works for both parties [financial service providers and clients]“, he says on his website.

Tiiik invites users to join its waiting list and promises the ability to deposit and withdraw money at any time, with no hidden fees or secret penalties.

Its investors and partners include Jump Capital, Global Founders Capital, FinTech Collective, 0x Ventures, Athena Ventures,, and Waterdrip Capital, among others.

Individual investors and partners include Alvin Singh and Bosco Tan (co-founders of Pocketbook), Heslin Kim (co-founder of SupraOracles), Jonty Kelt (founder of Fantail Ventures) and Lucas He (co-founder of OP Crypto).


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