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Zolve, a neobank for global citizens moving to the US, raises $51M and secures $200M debt | TechCrunch
TechCrunch
·
55y ago
Medial
Zolve, a neobank providing financial access to global citizens moving to the U.S., has secured $251 million in funding to expand its services and reach new markets. Addressing the challenge of gaining financial services without a credit history, Zolve offers credit cards and checking accounts based on home credit data. The startup, serving 750,000 customers, plans to introduce loans and expand into Canada, the U.K., and Australia, creating a connected financial network worldwide.
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Related News
Neobanking startup Zolve raises $251 Mn in Series B round
Entrackr
·
4m ago
Medial
Neobanking startup Zolve raises $251 Mn in Series B round Founded in 2021 by Raghunandan G, Zolve offers immigrants an FDIC-insured US bank account and a credit card without requiring a Social Security number in the United States. Cross-border neobanking startup Zolve has secured $251 million in an equity and debt funding round led by Creaegis, with participation from HSBC, SBI Investment, GMO Venture Partners, DG Daiwa Ventures, and existing investors Accel, Lightspeed Venture Partners, Sparta Group, and DST Global. This Series B round includes a $200 million warehouse line (debt) from Community Investment Management to fuel its growing credit portfolio across geographies. In October 2023, the company raised $100 million in a warehouse debt facility from US-based impact investor Community Investment Management (CIM). Zolve has bagged $406 million in equity and debt financing to date. This substantial investment comes as Zolve reaches the 750,000-customer mark, having facilitated the movement of over $1.2 billion. The firm claims that it became customer-level profitable in early 2024 and is on track for company-level profitability by the end of 2025. Zolve plans aggressive expansion into three key areas. Geographically, Canada is next, followed by the UK and Australia. The company will also expand its credit portfolio by launching auto loans, personal loans, and education loans. The firm aims to become a full-stack financial platform for global citizens, enabling seamless international money transfers, insurance, and investment products. This is the largest debt funding raised by an Indian-origin startup in 2025.
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TaxiForSure cofounder's fintech venture Zolve secures $100 million debt facility
Money Control
·
1y ago
Medial
Zolve, a cross-border neo-banking platform, has obtained a $100 million warehouse debt facility from Community Investment Management (CIM). The funds will be utilized to offer credit products to migrants in the US, according to Zolve. The startup provides financial services, checking accounts, and credit cards to Indian immigrants relocating to the US. Zolve plans to expand its presence in countries such as the UK, Canada, and Australia, following this funding. In previous funding rounds, the company raised $15 million in seed funding and $40 million in Series A funding.
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Creaegis leads Series B funding in TaxiForSure co-founder's fintech Zolve
VCCircle
·
4m ago
Medial
Zolve, a cross-border neobanking startup founded by TaxiForSure co-founder Raghu G, has raised $251 million in Series B funding led by Creaegis. The funds, comprising $51 million in equity and the rest in debt, will support Zolve's expansion into Canada, the UK, and Australia, and diversification into auto, personal, and education loans. Zolve aims to build a comprehensive financial platform for global citizens, fostering seamless international financial services. It targets company-level profitability by 2025.
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Zopa, the UK Neobank, Surpasses 1 Million Customers and Raises $93 Million in Additional Funding
Robots
·
1y ago
Medial
Zopa, the UK neobank, has reached a significant milestone, surpassing 1 million customers. Additionally, the company has secured £75 million (approximately $93 million) in debt financing. This funding will support Zopa in strengthening its financial position, exploring potential acquisitions, expanding its product lineup, and preparing for a future initial public offering (IPO). The funding round was led by IAG Silverstripe, the same backer that led a previous equity tranche investment in Zopa worth £75 million. This debt financing comes as Zopa continues to experience strong financial performance and cash flow positivity.
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Neobank Revolut seeks $65B valuation, a year after its $45B deal | TechCrunch
TechCrunch
·
15d ago
Medial
Revolut, Europe's leading fintech company, is reportedly seeking a $65 billion valuation through a new funding round led by US firm Greenoaks, involving $1 billion raised via new and existing shares. The UK-based neobank experienced a 72% revenue increase last year, achieving $1 billion in profit and growing its user base to over 50 million. Last valued at $45 billion in 2024, Revolut is among Europe’s most valuable tech companies. The company declined to comment.
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Rivian spinoff Also raises another $200M to build e-bikes and more | TechCrunch
TechCrunch
·
15d ago
Medial
Also Inc., a micromobility startup spun out of Rivian, has secured $200 million in funding from Greenoaks Capital, raising its valuation to $1 billion. It was initially funded with $105 million from Eclipse Ventures during its separation from Rivian. Originating as Project Inder, it collaborated with Jony Ive’s firm LoveFrom on an e-bike. Now independent, Also aims to develop various micro-EVs and plans to unveil new designs later this year.
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Peak XV-backed Bright Money raises $62 Mn
Entrackr
·
1y ago
Medial
Bright Money, a Bengaluru and San Francisco-based consumer fintech startup, has raised $62 million in a Series B funding round. The round consists of $50 million debt from Encina Lender Finance and $12 million equity led by Alpha Wave, Hummingbird, and PeakXV. Bright Money offers debt management solutions and aims to reshape global retail banking using big data and AI. The funding will help the company cater to millennials, particularly in the US, and expand its product offerings. Bright Money previously raised $31 million in a Series A round in September 2021.
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India among top contributors to rise in global debt burden to record $315 trillion
VCCircle
·
1y ago
Medial
Global debt has reached a record high of $315 trillion in Q1 2021, driven by borrowing in emerging markets, the US, and Japan, according to a report by the Institute of International Finance (IIF). The global debt-to-output ratio rose to 333% after three consecutive quarters of decline. Emerging markets saw their debt grow to over $105 trillion, with China, India, and Mexico being the largest contributors. The IIF noted that government budget deficits, trade friction, and geopolitical tensions could pose significant challenges to debt markets. The US and Japan saw the highest increase in debt among developed economies.
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Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed
IndianStartupNews
·
1y ago
Medial
Cybersecurity asset management and SaaS management startup, Axonius, has raised $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. The funding will be used to support the company's global expansion and innovation in response to the increasing demand for its platform. Axonius provides a unified platform for managing digital infrastructure components, boasting over 1,000 platform integrations and offering a comprehensive view of assets, relationships, and business context. The company recently launched its Axonius 6.0 platform, which combines Cyber Asset Attack Surface Management, SaaS Security Posture Management, and SaaS Management Platforms.
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Frontline Ventures raises $200M to help B2B companies in Europe and US straddle the Atlantic
TechCrunch
·
1y ago
Medial
Giant Ventures and Frontline Ventures have raised significant funds, signifying LPs' preference for transatlantic venture capital firms. Frontline Ventures raised $200 million across Frontline Growth and Frontline Seed funds. The firm aims to invest in B2B software companies, with the seed fund favoring European ventures and the growth fund focusing on US startups. Frontline believes that expanding operations across the Atlantic increases the success rate for US scaleups and aims to help startups navigate the expansion process. The firm emphasizes timing, go-to-market strategy, talent, and organizational design as important factors when expanding to a new market.
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