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Global fintech MODIFI has raised USD24 million in a Series B funding round, which brings its valuation to more than USD120 million.
The round was led by new investor Heliad Equity Partners with a co-investment from Neva SGR, the venture capital investment vehicle of Italy’s leading banking group Intesa San Paolo. Existing investors also participated significantly, including Global Founders Capital, Maersk Growth and Picus Capital. The funds will be used to grow MODIFI’s digital trade finance platform for SMEs into a global trade management hub.
MODIFI is the only digital trade finance platform for SMEs that spans the three
The investment will be used to significantly increase the company’s product and engineering teams to further develop its platform, alongside building its commercial team to support the growth of new and existing customers.
HHAeXchange (HHAX), a provider of homecare management solutions for payers, providers, and state Medicaid agencies, has secured a new investment from Hg, a global investor in software and services.
Cressey & Company LP (Cressey), a leading healthcare-focused private investment firm which first partnered with HHAX in 2018, will continue to be a significant investor in HHAX. Both investors will share joint governance of the business.
Greg Strobel, CEO of HHAeXchange, says: “We are proud to welcome Hg to the team for this next chapter of HHAeXchange’s continued success. With Hg’s track record of growing technology businesses and Cressey’s specialist
BioInnovation Institute (BII), an international commercial foundation with a non-profit objective incubating and accelerating world-class life science research, has announced the first cohort of participants in the Venture Lab acceleration program for early-stage companies.
Comprising a pan-European spread of start-up initiatives and university research projects, the seven ventures are developing revolutionary science across BII’s three sector specialised areas – therapeutics, bioindustrials and health tech.
Designed to help build research-based ideas with high-growth commercial potential into viable start-up companies, BII’s 12 month Venture Lab program supports business acceleration, scientific development and team development, and provides a risk-free convertible loan of
Vala Capital, a venture capital firm, has launched a new tranche for its EIS portfolio – targeting fast-growth British start-ups with strategies to scale quickly and become the next generation of British unicorns.
Innovative small companies are key to the UK’s post-pandemic recovery, yet there is a significant funding gap that threatens to stifle their growth. While there is a large pool of seed capital of up to GBP1 million available for start-ups, traditional venture capital companies are increasingly moving up toward later-stage and larger deals of GBP5 million-plus. This has left a funding gap between angel investors and later-stage
A platform that helps parents and students to find online tutors has raised a further GBP3 million investment amidst a boom in business following the pandemic.
Tutorful has secured funding from Mercia’s Northern Venture Capital Trust (VCT) funds and NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund.
The Sheffield-based platform achieved a 376 per cent growth in revenue from online tuition during 2020 as students took to distance learning, whether to support their existing school or university studies or to learn new hobbies and skills. The triple-digit growth has
Ropes & Gray has advised Intermediate Capital Group (ICG) in connection with an investment by Aeternum Capital, Government Pension Fund Norway (Folketrygdfondet), Vind, GIC and certain existing institutional investors in Visma – a provider of business-critical software to private and public companies in Europe.
The transaction values Visma at EUR16 billion (~NOK165 billion).
Following completion of the transaction, Hg, a leading global investor in software and services, will continue to own a majority stake in Visma, alongside a group of co-investors comprising GIC, ICG, CPPIB, General Atlantic, TPG, Warburg Pincus, Visma management, and the new investors.
The Ropes &
Nordic Capital Evolution has signed an agreement to invest in the fintech company Qred. The investment will be made in partnership with Qred’s management and founders, with the goal of continuing to significantly expand the business across Europe together.
Since its inception in 2015, Qred has been a provider of financing and payment services to small businesses in the Nordics and the Netherlands, with its fully automated credit system, digital platform and easy, innovative solutions for entrepreneurs seeking financing. Nordic Capital will support the company in driving growth, investing in new products for responsible and inclusive lending, and increasing its
Monte Nido & Affiliates (Monte Nido), a portfolio company of Levine Leichtman Capital Partners (LLCP), has completed its acquisition of Walden Behavioral Care (Walden). Monte Nido is one of the USA’s most established eating disorder treatment providers.
Founded in 2003 and based in Waltham, Massachusetts, Walden is an industry pioneer, offering inpatient, residential, partial hospitalisation and intensive outpatient programmes in Massachusetts, Connecticut and Georgia. Walden opened the Walden Behavioral Care Center for Recovery in 2020, one of the largest 24-hour inpatient and residential care facilities dedicated to the treatment of eating disorders in the US.
Headquartered in Miami, Florida
Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the midmarket, has invested in a new partnership with Midwest Eye Consultants (Midwest Eye), a management service provider to eye care practices in Indiana and northwest Ohio. Midwest Eye is owned and managed by its founding doctors. The terms of the deal have not been disclosed.
Midwest Eye provides management services to one of the largest providers of integrated eye care services in Indiana and northwest Ohio. Midwest Eye’s affiliated optometry and ophthalmology practices provide patients with a full spectrum of eye care,
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