Overview of fintech financing in Europe: Claimer, Freetrade, InvestSuite, Ruleguard

This week’s Friday hands-on funding roundup features four UK and European fintech start-ups – Claimer, Freetrade, InvestSuite and Ruleguard.

Plaintiff raises $4.2 million

London-based R&D tax claims platform Applicant raised $4.2 million in a seed funding round led by Project A Ventures.

Moonfire Ventures, helloworld.vc and a group of angel investors, as well as follow-on investors Ben Holmes and TrueSight Ventures participated in the round.

Founded in 2019, Claimer aims to take “the hassle and expense out of seeking R&D assistance by combining technology with human expertise.”

The start-up claims more than 350 companies as customers who have received “millions of pounds of relief with a 100% success rate”.

The applicant says the funding will enable its growth in the UK market and overseas expansion in the near future.

UK based investment platform Free exchange launched its eighth crowdfunding campaign on Crowdcube from September 14 this year.

Freetrade launches its 8th crowdfunding campaign

Its latest campaign will allow its 17,000 existing investors to invest in a convertible loan on the same terms as Freetrade’s institutional investors secured earlier this year.

Earlier this year, in May, Freetrade raised £30m in its latest funding round from new and existing investors.

The funding will help Freetrade accelerate the release of its “highly requested” new features, new account types and its European expansion, including its launch in Sweden.

Some of the new features will include a comprehensive auto-clearing solution for European markets, FreetradeFX for direct access to institutional forex markets, removal of middlemen, more shares, and revamped subscription plans with new pricing.

In its most recent crowdfunding round in December 2021, the investing app raised £8.8m from more than 7,000 investors on Crowdcube.

European heritage technology start-up InvestSuite raised 6 million euros in a Series A funding round.

InvestSuite raises €6m

Two new investors, Cronos Group and OSOM Finance, participated in the round, along with other new and existing angel investors, and existing investor PMV.

The new investment brings the total capital raised by InvestSuite to €15 million since its inception.

Founded in 2018, InvestSuite is a business-to-business (B2B) wealth management technology platform that provides automated investment solutions to help financial institutions build customer loyalty.

“This round of funding allows us to realize our growth ambitions, expand our team and bring our unparalleled innovations to financial institutions around the world,” said Laurent Sorber, CTO and co-founder of InvestSuite.

Over the past two years, the start-up has grown to 70 employees with offices in Leuven, London, Warsaw, Amsterdam and Sydney. It claims more than 20 customers in 14 countries, mainly in Europe and the Middle East, and extending to Asia and North America.

Ruleguard raises £3.5m

London-based Software-as-a-Service (SaaS) technology provider Rules Keeper raised £3.5 million in Foresight Group’s growth equity investments.

Founded in 2013, Ruleguard is a specialized regulatory compliance platform enabling its clients to “address the ever-increasing challenges of increasing regulatory compliance requirements with less effort and at lower risk” and also helps them save money on audit compliance costs.

The funding, which comes from Foresight VCT and Foresight Enterprise VCT, will help regtech develop additional platform capabilities and scale up sales and marketing.

Mary I. Bruner