Positive news in Nottingham and London with Percayso Inform, LemonEdge and Finverity all securing tech funding.
Insurance data intelligence provider Percayso Inform has announced a £3.4 million investment led by Manchester-based venture capital investor Praetura Ventures.
LemonEdge, a low-code accounting platform for the private capital industry, has completed a $4 million (£3 million) funding round, led by Blackstone Innovation Investments.
Finverity, a mid-market supply chain finance (SCF) platform focused on emerging markets, has completed a $2 million (£1.5 million) Pre-Series A equity funding round.
Percayso Pushes On
Launched in the UK insurance market in 2019, Nottingham-based Percayso provides a data and intelligence hub for insurers, brokers and MGAs in personal and commercial lines.
Percayso’s technology aggregates data from different sources, allowing intelligence to be accessed with an API call. Partners on its website include Equifax, Experian, Genasys and ComplyAdvantage.
The founding team has now grown to 22 people. So far, the team has been focused on building the platform, sourcing data partners and creating software house integrations.
The investment will be used for product development and to enter new sectors of the UK insurance market.
David Foreman, MD at Praetura Ventures, explains: “The investment team has an incredibly thorough due diligence process and we were so impressed with how highly Percayso’s clients spoke of them. Their team has built a valuable tool that can clearly help insurance providers to get more from their data and create a real advantage.”
Zesty Times for LemonEdge
LemonEdge says the funding round included participation from existing investors, such as Sidekick Partners, Lauren Iaslovits (co-founder of Investran) and Tikhon Bernstam (founder of Parse and Scribd).
The financing increases capital raised to date to $7 million (£5 million), and within the first year of its launch.
LemonEdge’s cloud-native technology is designed for private capital firms to automate and digitise their accounting processes. The London-based company combines a financial engine alongside a customisable low-code platform with a suite of reporting and scenario tools.
Jamie Nascimento, Co-Founder and Chief Commercial Officer at LemonEdge, comments: “There is no longer the leeway to process calculations outside of systems, manually post multiple transactions, or run separate solutions for the end-to-end accounting and middle office.”
Earlier this month, LemonEdge was appointed by Kensington Capital Partners as their front-to-back office accounting solution. LemonEdge will be powering the firm’s Private Equity, Venture Capital, and Fund of Fund structures alongside an Investor Portal.
Dreams Come True for Finverity
London-based Finverity says the proceeds will be used for expanding its sales, operations and technology teams.
Investors in the round include MENA-based B&Y Venture Partners and Canadian-based Loyal VC (an existing investor in Finverity), an “emerging” market family office and a number of angel investors.
Finverity’s platform allows funders and corporates to transact with one another. The platform provides deal origination, analysis and structuring alongside matching mid-market SCF deals with funder mandates (both bank and non-bank).
Viacheslav (Slava) Oganezov, CEO and Co-Founder of Finverity, notes: “The healthy functioning of SCF is pivotal in aiding recovery post-pandemic by keeping the wheels of the global economy turning.”
The tech company is ambitious and this year is planning to open three new offices across MENA and Eastern Europe.