We go from farms to pharma as Viola Credit, Stable, uMotif and Crowd Data Systems have nabbed tech funding.
It’s funding to fund others. Viola Credit, a credit asset manager for tech firms and fintech lenders, has closed its Viola Credit Alternative Lending Income Fund II (ALF II) with $700 million (£555 million) of investable capital.
Stable, a fintech firm offering price risk management solutions and liquidity into commodities, has announced a $60 million (£47.5 million) Series B round.
Healthtech uMotif has revealed a new investment of $25.5 million (£20 million) from a fund managed by Athyrium Capital Management.
Crowd Data Systems, a B2B SaaS platform for corporate treasury, has secured a €1 million (£850,000) seed round.
Viola is headquartered in Israel. It says the fund will partner with fintech platforms across the US, Western Europe, UK, Australia and New Zealand. ALF II will specifically target fintech, proptech and insurtech companies that are “disrupting traditional financial markets”.
Viola feels it’s in tune with the zeitgeist as it notes that the fintech sector gained “significant momentum” in 2021 with global fintech funding reaching a record $132 billion (£104.6 billion) and the global fintech unicorn count hitting 235, up 108% from 2020.
As of the final close, Viola’s fund has called more than 40% of its capital commitments and plans to partner with 13-15 additional fintech platforms.
Viola Credit is part of the Viola Group, an Israeli technology investment house with over $4 billion (£3.17 billion) in assets under management.
Stable Shows Strength
Stable has teams across the US (NYC and Chicago), London, Singapore and Bermuda. It was founded in 2017.
Its name is all about offering a stable price as the fintech firm sees itself as “the home of hedging” and a place to protect businesses from volatile commodity prices. Stable can also be a reference to its roots.
Rich Counsell, CEO at Stable, says the round was led by Vishal Lugani at Acrew, as well as Notion, Greycroft, Continental Grain, Alumni Ventures, Syngenta, Gaingels and others.
Counsell’s work experience is an interesting one. He grew up on a farm, and explains that “anytime I read about hedging commodity prices I got an overwhelming sense that this was a financial world not meant for the likes of a farmer’s son like me”.
Times have changed of course. Stable is looking to stand out in its field and offers services in the world of untraded agricultural commodities.
The company plans to launch its client platform; invest in new algorithms to price more risk; and unveil a new hedge fund in Bermuda.
uMotif Has Ideas
London-based uMotif provides a software platform for clinical research.
Its cloud-native software is designed to provide pharmaceutical, biotech, medtech and contract research organisation (CRO) clients with patient data.
uMotif says it has deployed its software in over 30 countries including China and Japan. It has also worked with various pharma and biotech companies and CROs, including AstraZeneca, Abbvie and Syneos.
The company explains that it continues to be supported by its existing investors AlbionVC and DNV, which led a Series A investment round in 2020.
The new investment will be used for international expansion and development of its technologies. Having entered the US in 2021, uMotif plans to grow its North American team, including in sales, marketing and service delivery.
In with the Crowd
London-based Crowd Data Systems (CDS) explains that the round was led by Triple Point Ventures, alongside Portfolio Ventures and a number of angel investors.
This investment will be used to build out its sales, marketing and customer success.
CDS connects treasury services through APIs and open banking. Its cloud-based platform was built from the ground up and is designed to automate manual processes.
The tech firm was co-founded in 2018 by Kelly Scammell and Steve Whalley, both of whom have founded and exited businesses in the treasury management space.
CDS now has more than 90 clients operating across 32 different countries. Notable users include travel entity Flight Centre; FTSE 250 automotive engineering company TI Fluid Systems; and New Zealand-based treasury outsourcing company ETOS.