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Fundraise Up Secures $70 Million to Propel Global Expansion of Nonprofit Fundraising Solutions
Fundraise Up, a leading nonprofit fundraising platform, has secured $70 million in minority growth investment led by Summit Partners, with support from Telescope Partners. Founded in 2017, the company uses AI to streamline online fundraising for nonprofits. Its platform features a transaction-based pricing model and serves clients like UNICEF USA and The Salvation Army UK. The new funding will help expand product offerings, accelerate global reach, and enhance AI technology to improve donor engagement. CEO Peter Byrnes emphasizes the need for nonprofits to access advanced technology, positioning Fundraise Up to significantly impact the sector’s fundraising efforts.
Socure Expands Its Portfolio: $136M Acquisition of Effectiv
Socure, a leader in AI-driven digital identity verification, has announced its acquisition of Effectiv, a real-time risk decisioning firm, for $136 million. Effectiv’s platform integrates various risk solutions, addressing challenges like identity theft and payment fraud. This acquisition enhances Socure’s capabilities and strengthens its position in the $200 billion enterprise fraud market, serving over 2,700 customers and verifying over 2.26 billion identities in the last year. Founded by fintech veterans in 2021, Effectiv’s team will bolster Socure’s product development and market strategy, reflecting Socure’s commitment to innovation in fraud prevention and identity verification.
Nirvana Insurance Secures $80M in Series C Funding, Approaching $850M Valuation Milestone
Nirvana Insurance, an AI-driven commercial trucking insurer based in California, has raised US$80 million in a Series C funding round, boosting its valuation to approximately US$850 million. The investment, led by General Catalyst with support from Lightspeed Venture Partners and Valor Equity Partners, comes after the company surpassed US$100 million in premiums. Nirvana plans to use the funds to expand operations and enhance its AI technology, which integrates IoT data to improve risk assessment, policy pricing, and claims processing. CEO Rushil Goel highlights the company’s commitment to redefining the insurance experience for fleets through personalized, real-time solutions.
Triodos IM Collaborates with STOXX to Unveil Groundbreaking Impact Investing Benchmark
Triodos Investment Management has partnered with STOXX Ltd. to launch the iSTOXX Triodos Developed Markets Impact Index, aimed at institutional investors seeking to incorporate measurable environmental and social impact into their portfolios. This index addresses the demand for investment tools that promote positive societal contributions while excluding harmful sectors. It aligns with UN Sustainable Development Goals (SDGs) and encourages active investment strategies focused on measurable impacts. Available exclusively to Triodos IM’s institutional clients, this collaboration combines expertise in impact investing and index development, reshaping the sustainable investing landscape, as highlighted by both companies’ leaders.
Beltone Capital Acquires Majority Stake in Baobab as Apis Partners Exits
Apis Growth Fund I, managed by Apis Partners, has agreed to divest its entire stake in Baobab, a prominent African financial services provider, to Beltone Capital, a subsidiary of Beltone Holding. This acquisition will give Beltone a majority share in Baobab, marking the ninth complete exit for Apis. During its investment, Apis enhanced Baobab’s operations by appointing key executives and improving technology infrastructure, enabling the company to serve millions across seven African markets. Post-acquisition, Beltone plans to leverage Baobab’s position to expand its financial product offerings, underscoring its commitment to financial inclusion and market growth in Africa.
UAE FinTech Pluto Raises $4.1M Pre-Series A to Accelerate Expansion in Saudi Arabia
Pluto, a UAE-based corporate card and expense management platform, has raised $4.1 million in a pre-Series A funding round, following its achievement of over AED 1 billion in managed expenditures. The funding, supported by investors like Rhino Ventures and Born Capital, will help Pluto expand its financial management solutions, which include AI-powered corporate cards and budget tracking, into markets like Saudi Arabia and Turkey. CEO Mohammed Aziz emphasized the evolving expectations of SMEs for value-added services from financial institutions, positioning Pluto to provide enhanced solutions in the corporate finance landscape.