The company’s digital platform removes traditional barriers to global trade, empowering small to midsize businesses with the tools they need to compete with larger corporations on an equal footing. MODIFI’s innovative business model is built around facilitating international business for importers and exporters. This financing agreement represents a significant milestone in MODIFI’s refinancing strategy, which seeks to diversify the firm’s funding sources by partnering with top-tier capital providers. The firm has successfully secured a $100m debt facility in a deal struck with HSBC Innovation Banking UK. ![]() This fast-growing FinTech enterprise, established in 2018, is known for providing instant payment solutions to suppliers and offering payment deferment options to buyers for up to 180 days. MODIFI, a global business payments firm specialising in cross-border B2B transactions, has announced a new funding round. MODIFI powers ahead with $100m facility from HSBC The firm, now bolstered by a nearly 30-strong global team, specialises in supporting promising founding teams in the nascent web3 ecosystem, investing in the future of blockchain technology and its applications. ![]() This latest financial boost saw backing from a diverse range of sources including sophisticated institutional investors, family offices, and affluent individuals.ĬoinFund, headquartered in Brooklyn and founded by Highbridge Capital Management and Amazon veteran Jake Brukhman, with later support from co-founder and American Capital luminary Alex Felix, has become a formidable force in the world of financial technology. This is cleverly achieved based on their outstanding invoices, negating the need to take over the debtor base.Ĭryptonative investment firm CoinFund rakes in $158m fundingĬoinFund, a cryptonative investment firm, has triumphantly closed a $158m funding round for its CoinFund Seed IV Fund LP. The main thrust of TP24’s operations involves providing small to medium-sized enterprises (SMEs) with flexible revolving business credit. Among the committed funds, Barclays has agreed to provide up to £200m in warehouse financing, while M&G has committed to a provision of up to £40m in mezzanine funding. The new funding, a colossal £345m, was exclusively provided by Barclays and M&G Investments, according to a report from Financial IT. The round was significantly bolstered by notable UK entities, Barclays Bank and M&G Investments. TP24, an innovative FinTech firm offering flexible revolving business credit, has successfully raised £345m in a debt funding round. ![]() On geographic terms, leading the way this week was the US with 14 deals, followed by the UK on three, Australia and France on two, and then the Netherlands, Switzerland, Singapore, Latvia, Mexico, South Korea, Luxembourg, Nigeria and the Philippines on one each.īarclays and M&G Investments inject £345m into FinTech TP24 In joint second were CyberTech, PayTech, Cryptocurrency and Blockchain and WealthTech, while InsurTech brought in three, RegTech two and ESG one. Industry-wise, leading the way this week was FinTech, with eight deals in total. More than $1.3bn was raised in total funding this week. Other key funding rounds this week were seen in the cryptocurrency space, with cryptonative investment firm CoinFund pulling in $158m in its seed funding. There were 33 funding rounds in the FinTech space this past week, with the biggest deal seeing a whopping £345m investment for business credit firm TP24.
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