Quantexa, TransferGo and Heydoc Grab Funding

Positive action for a data and analytics software company, money transfer fintech and a clinical operating system.

Happiness is in the air as Quantexa Technology, TransferGo and Heydoc have netted some tech funding this week.

Quantexa, a data and analytics software company, announced that BNY Mellon completed its investment to close its series D led by Warburg Pincus.

Meanwhile, money transfer fintech TransferGo secured $50 million (£37 million) and Heydoc, a clinical operating system and electronic health record (EHR), got $8.3 million (£6 million).

Quantexa Gets Quantity and Quality

According to Crunchbase, Quantexa’s Series D round, launched in July, has raised more than $153 million (£113.5 million). The London-based company has brought in more than $241 million (£178.8 million) since it was founded in 2016.

As part of the latest investment, Joseph Sieczkowski, CIO of Engineering and Architecture, BNY Mellon, will be joining the Quantexa board, and Eric Hirschhorn, chief data officer, BNY Mellon, is joining Quantexa’s advisory board.

The investment follows a 12-month engagement with BNY Mellon using Quantexa’s platform and includes an “expanded relationship focused on data fabric innovation at the bank”. Quantexa is targeting North American expansion.

The software firm offers Contextual Decision Intelligence (CDI). Some of its clients on its website include HSBC, Danske Bank and Standard Chartered.

Potential rivals to Quantexa include AI company Peak in Manchester (which got £54.5 million funding in September); startup Hyper Group in Leeds; and London-based startup Silico.

Go! Go! TransferGo!

TransferGo’s Series C funding round was led by Elbrus Capital Fund III and Black River Ventures. The fintech company says it follows consistent 80% year-on-year growth since its launch in 2012, and brings the total raised to date to $77 million (£57 million).

The round also includes funding from new investor Unlimint, and continued backing from existing investors that include Hard Yaka, VEF, SmartHub and Milano Investments.

TransferGo connects 3.5 million customers across 160 markets. It has processed 13.5 million international and local transactions, amounting to over $6 billion (£4.5 billion) in money flow.

The funding will be used to develop its product offering. The firm allows migrants to send and receive money across Europe; and lets SMEs transfer money via business accounts.

Rivals to TransferGo include Azimo, Wise (formerly TransferWise) and Remitly. TransferGo has over 200 employees and offices in London, Vilnius, Kaunas, Berlin, Istanbul and Warsaw

What’s up Heydoc?

London-based Heydoc closed its Series A round led by Smedvig Capital with existing investors Hambro Perks, Triple Point Ventures and InHealth Ventures also participating. This brings the total amount raised to date to $12 million (£8.9 million).

The new funding will be used for expansion in the UK healthcare market, its product offering and to expand internationally. No specifics were mentioned about all that, but the bulk of the raise will be used to grow the team which currently stands at 30 employees.

It went live in 2018 and was co-founded by serial entrepreneurs Christoph Lippuner and Mikael Landau.

Lippuner comments: “Innovating and contributing to a transforming healthcare industry, profoundly impacted by regulatory changes, new patient expectations and a global pandemic, is both fascinating and rewarding. There is so much to be done in this industry and Heydoc is barely scratching the surface.”

Heydoc offers software for workflow issues for clinicians. The system provides a suite of features for clinicians and support staff, covering both medical and administrative tasks. Heydoc also connects its clinic customers with various other healthcare providers (e.g., hospital groups, pathology services, pharmacies, etc.), “ensuring data liquidity and tackling a major challenge in healthcare, the lack of systems interoperability”.

For instance, on its website it explains how users can understand performance and patient population with analytics. Heydoc’s analytics tools and Public API provide clinical and business insights, whilst its SNOMED CT integration helps with coding.

Antony Peyton
Antony Peyton is the Editor of eWeek UK and has 17 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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