Builder ai, Dapio and Connect Earth Secure Funding in London

The capital is buzzing for an AI-powered low-code/no-code app development platform, a cashless payment solutions provider for businesses and an environmental data company.

It’s all happening in London with Builder.ai, Dapio and Connect Earth scooping up some tech funding.

Builder.ai, an AI-powered low-code/no-code app development platform, has got an investment of $100 million (£76 million) in a Series C funding round led by Insight Partners, a New York-based global venture capital and private equity firm.

Dapio, a cashless payment solutions provider for businesses, has raised $3.4 million (£2.5 million) in funding for the launch of its ‘Tap to Pay’ solution for Android users in the UK and Europe.

Connect Earth, an environmental data company, has closed its first funding round, raising $1.8 million (£1.3 million) for its European and US aspirations.

Insight into Builder.ai

Builder.ai says the latest round brings its total funding to $195 million (£148.5 million) across three rounds, including participation from existing investors in combination with new individual and institutional names that include the IFC and Jeffrey Katzenberg’s WndrCo.

Established in 2016, Builder.ai’s platform allows users to build software and apps. Things have built up nicely as the tech firm increased its revenue by over 300%, deployed more than 40,000 features to customers within the last year, and seen its headcount increase from 265 in March 2021 to 450 by March 2022.

The raise will be used to invest in AI and automation capabilities, and for product development on core systems, including its conversational AI, named Natasha. The company is also looking for expansion in the US.

Sachin Dev Duggal, Chief Wizard and Co-Founder of Builder.ai, spells it out: “This is so much more than just capital – it’s a round for our customers, all the tinkerers, the people that never accepted ‘no’ for an answer, the small businesses that said ‘we shall prevail’ and the entrepreneurs who never blinked for a second.”

Dapio Looking Smart

Dapio, formerly Paymob, says the funding was led by Flutterwave alongside Techstars, PactVC and Daniel Gould, venture partner at Asymmetry Ventures.

The fintech firm’s technology turns an Android smartphone into a payment terminal able to accept contactless payments.

Kosta Du, CEO and Co-Founder of Dapio, states: “It’s normal for consumers to make payments using their smartphones, so why not allow small businesses to take payments as well?”

Away from rhetorical questions, and according to the company, contactless payments make up a quarter of all UK payments. Dapio also cites StatCounter, which notes that Apple has recently announced plans to launch Tap to Pay on iPhone in the US later this year. However, Dapio explains that this excludes Android users that make up 42% of the US mobile market, 46% in the UK and 71% globally.

Dapio was founded in 2019 by Du and Grigory Gurbanov. It also partners with POS (point of sale) vendors, banks, telcos, and other fintechs and payment platforms who integrate its tech to offer their merchant customers ‘Tap to Pay’ facilities, as part of its embedded finance solutions. Its current partners include ZmBIZI and Payment Plus.

Connect Earth Craves Connections

According to Connect Earth, the pre-seed funding round was led by MSM, Market One Capital and D2 Fund.

The tech startup was founded by Alexander Lempka and Nicolas Carmont in September 2021.

Lempka comments: “Our fundamental belief is that by 2030, every product will be a climate product. At Connect Earth, we are building the infrastructure and toolkits to support this development, starting in the financial sector.”‍

Its first product is an API solution that calculates the carbon impact of consumers and companies based on their spending in line with carbon accounting standards, to banks and fintechs. The firm has run a PoC with the Elevator Lab Partnership Program powered by Raiffeisen Bank International (RBI) and is working with US-based challenger bank Cogni to engage their GenZ audience.

‍Connect Earth also wants to get action amongst climatetech businesses with its climate data engine.‍

The startup is aiming to grow to 15 staff – from ten employees – by Q3 2022.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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