Upvest raises $125M from Tencent to modernize banking in Europe (TWIF 3/21)

Alan raised €100 million (~$109 million) led by Index Ventures to accelerate international expansion for its digital health insurance platform serving 1M+ customers across France, Belgium, Spain, and Canada, at a €5B valuation.

Cryptio raised $45 million in a Series B co-led by BlackFin Capital Partners and Sentinel Global to expand its digital asset accounting and ERP platform for banks, asset managers, and exchanges. 

Candex extended its Series C to over $40 million with a strategic investment from HSBC to expand its vendor-management and tail-spend-solutions platform for global enterprises to pay small suppliers.

Turquoise Health raised $40 million in a Series C to scale its healthcare pricing and payments platform helping payers and providers transition to value-based contracting. 

MetaComp raised $35 million in Pre-A+ funding backed by Alibaba and Spark Venture to build its Web2.5 stablecoin-powered payments and wealth management platform globally. 

Fuse raised $25 million in a Series A to disrupt aging loan origination systems used by US credit unions. 

TransFi raised $19.2 million, with $14.2 million Series A and $5 million liquidity facility, to expand its cross-border payments platform to collect, convert, and pay out funds across fiat and stablecoin rails.

Outpost raised $17.5 million in a Series A led by Ribbit Capital to scale its AI-powered payments and compliance platform for cross-border commerce.

Cleafy raised €12 million (~$13million) in a Series B to expand its banking fraud prevention platform serving 150+ financial institutions across Europe and Latin America. 

Ezra raised $8 million in seed funding to build an AI-powered finance platform for asset-backed finance.

Orca Fraud raised $2.35 million to build real-time fraud detection tools for payment systems in emerging markets. 

NjiaPay raised $2.1 million in seed funding to scale its payment performance platform for African businesses. 

Upvest raised $125 million in Series C, with $90 million equity and $35 million credit facility led by Sapphire Ventures and Tencent to modernize European bank infrastructure, doubling its valuation to ~€640million.