Leapfin, Compliance.ai, Revolv3, and more

Our weekly roundup for the latest FinTech finance news from across the United States. It includes Leapfin, Compliance.ai, Revolv3, Stackwell, B9, FinLync and Outsource Monetic Group.

California-based financial technology libvin Effects $12.2 million in a Series A funding round led by Crosslink Capital with participation from Uncorrelated and Work-Bench.

Founded in 2015, Leapfin provides financial data management services to businesses including companies such as Canva, Vimeo and Reddit, enabling a “single source of truth” for revenue and providing organizations with real-time revenue data.

Leapfin says the new funding will allow it to “accelerate its mission to free financial information and empower business” and will be directed toward product development and team development to expand the business.

Compliance locked 6 million dollars In funding from existing investor Cota Capital and new investment partner JAM FINTOP to support market growth.

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Compliance.ai bags 6 million dollars

The company also announced the appointment of Asif Alam as its new CEO. It will use the new funding to fuel its expansion plans.

Headquartered in San Francisco and founded in 2016, Compliance.ai’s regulatory change management platform helps mitigate risk, reduce costs, and increase confidence in the compliance status of the banking, financial, and insurance industries.

The company says it uses a simple, automated approach to help compliance teams increase accuracy, improve productivity, and reduce compliance gaps.

California based recurring billing platform Revolv3 have caught $4.5 million In seed money from Rosecliff Ventures and an unspecified angel investor.

Founded in 2020, Revolv3 is a payment optimization company that specializes in recurring billing.

“The common denominator in the subscription billing industry is that merchants don’t have the time or resources to focus on improving capturing recurring bill payments,” says Frank Arellano, founder of Revolv3. “So we’ve developed an easy-to-use platform that does all the work for them, increasing revenue while reducing card processing fees.”

The company plans to use this investment to build its platform further and add additional features.

Some of the suggested features include improved payment processor and network data, smart payment, processor routing, improved platform security, payment network compliance, digital wallets, accounting systems, e-commerce platforms, and CRM integration.

digital investment platform Stockwell have closed 3.5 million dollars seed funding round led by Michael Gordon, president of Fenway Sports Group; Jeremy Sklar, CEO and Chairman of WS Development; The Kraft Group.

Stackwell is a Boston-based financial technology company that has created a digital investment platform for the black community with the goal of eliminating the racial wealth gap in America, providing financial investment tools and guidance to help build “lasting wealth, equity and equal opportunity.”

The company plans to use the funds to speed up the launch plan, allowing it to gain access to major product development and market reach stages, as well as supporting the recruitment of key personnel.

In particular, it aims to use the funding to support the imminent release of its initial product, an automated investment app, this fall.

According to the company, the app will provide users with automated investment portfolios, in-app educational content, and “scientific alerts” to help achieve long-term wealth building goals.

B9 . companya payroll solutions platform that aims to enhance creditworthiness through employment data and economic behavior $2.6 million in finance.

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B9 land financing $2.6 million

The tour was led by Sky Light Invest with input from Mbanq and the founders of Wrike, a project management app.

In 2021, B9 raised $5 million in seed capital from angel associations and angel investors.

B9 aims to provide an alternative to “unbanked” people, often first or second generation immigrants, who are being targeted by predatory lenders. It claims it can help “eliminate” predatory lending with a zero-interest advance offer (0% APR).

The company plans to use the money to invest in product development, specifically to launch “anti-inflation and revenue generation” features to help underserved customers.

B9 says it also plans to capitalize on Big Tech’s recent layoffs and bring in new talent that can continually expand the platform as demand for its products increases.

New York based financial technology FinLync Receive Undisclosed amount In a strategic investment from Workday Ventures and also joined the Workday Software Partner Program.

Through the partnership, FinLync aims to enhance real-time payments and multi-bank API connectivity for clients.

FinLync says its technology will provide Workday Financial Management with over 100 pre-integrated banking API connections to banks around the world.

It also says it intends to provide Workday Financial Management clients with the ability to initiate payments in real time while resolving common treasury issues with end-to-end payment tracking, simplified connectivity, and real-time cash visibility.

FinLync is a privately owned global financial technology company that helps finance corporate and treasury offices by compiling global banking APIs to deliver built-in real-time payments and cash management.

It claims that its clients include Fortune 500 and Fortune 2000 companies. The company has employees from 18 countries and offices in New York, Los Angeles and Singapore.

Monetic Group Outsourcingan American and Senegalese fintech company headquartered in Atlanta, Georgia, has raised Undisclosed amount On the initial fundraising round with 500 Global.

The fintech company also announced the launch of the beta phase of its own network of KaliSpot-branded ATMs in Senegal and Côte d’Ivoire.

Outsource Monetic Group is developing the first private network of automated teller machines (ATMs) and Interactive Teller Machines (ITMs) in French-speaking Africa. The omnichannel platform allows users of any bank, mobile money or fintech to have 24/7 access to their money as well as additional value-added services using the KaliSpot mobile application.

Micah Diol, founder of Outsource Monetic Group says: “With the support of 500 Global, we are starting the pilot phase of our project in collaboration with two mobile money operators, three banks and five financial firms in Senegal and Côte d’Ivoire.

“These partnerships demonstrate that there is a strong interest in a platform that can bridge the current gap between digital and physical financial services in an innovative, integrated and end-to-end way.”