TransferMate, Previse, Greyparrot and Foodsteps Snap Up Tech Funding

Welcome news for a B2B paytech, an SME-focused fintech, an AI waste analytics platform and a foodtech startup.

London dominates the action with TransferMate, Previse, Greyparrot and Foodsteps picking up tech funding.

TransferMate, a provider of B2B payments Infrastructure as a Service, has announced a $70 million (£56 million) funding round bringing the company to a valuation of $1 billion (£800 million) and $130 million (£104 million) of total funding.

Fintech firm Previse has closed the first phase of its Series B financing. It has raised $18 million (£14.4 million) of new capital for its capital finance solutions, designed for SMEs.

Greyparrot has closed an $11 million (£9 million) Series A funding round as it seeks to digitise the waste management industry.

Foodtech startup Foodsteps might be feeling sated for the moment as it has revealed a $4.1 million (£3.2 million) seed fundraise.

TransferMate is Not Billy No-Mates

TransferMate’s HQ is in Kilkenny (Ireland), with offices in London, Paris, Sydney and Chicago.

Terry Clune, TransferMate’s Founder, states: “By combining our technology and our global licence network, we empower software providers, banks and fintechs to deliver payments dramatically faster and cheaper than the traditional SWIFT system. We will use this investment to continue to recruit senior financial talent who can help broaden our customer base.”

The funding round which consists entirely of primary capital will also be used invest in its technology and product suite. UK pension fund Railpen participated in the round.

According to the fintech firm, it allows businesses and individuals to make cross-border payments in more than 201 countries and 141 currencies.

TransferMate – a subsidiary of CluneTech – says it has created bespoke integrations for banks like ING and AIB, who are also investors in the company. The TransferMate API solution allows users to digitalise the payments flow within their software.

Pleasant Prize for Previse

London-based Previse explains that the round was led by Tencent, along with participation from existing investors including Augmentum Fintech and Reefknot.

Paul Christensen, Co-Founder and CEO of Previse, comments: “To have Tencent lead our round is a great endorsement of our model and the opportunity we are addressing.”

Previse offers AI-based analytical tools that mine B2B network data to predict future revenues and price risk. The company wants its solutions to connect SMEs with working capital embedded within the existing B2B platforms which businesses use to transact. Its partners include Mastercard, Transcard and Pagero.

The firm is in a positive mood and says it has added a range of new partners, solutions and increased its geographic reach in 2022. The additional funding will support this expansion.

Greyparrot Circles over the US

Greyparrot is headquartered in London and offers an AI waste analytics platform for the circular economy.

The investment is led by ESG-focused VC fund Una Terra. Also participating in this round are Closed Loop Partners, Speedinvest, Unreasonable Collective, 360 Capital, Archipelago Eco Investors, Accelerating Growth Fund and TI Capital.

Mikela Druckman, Co-Founder and CEO of Greyparrot, comments: “Globally, we are in a race to meet ambitious recycling targets and clean up our planet. This investment comes as mounting regulation fuelled by consumer demand continues to put pressure on the waste management industry to transition to circularity.”

According to the tech startup, over the past two years it has tracked more than ten billion packaging items in waste facilities, which allowed it to build recognition models across 50+ waste categories including plastics, fibre and metals. It will keep expanding its taxonomy to 200+ categories.

Other plans include dashboard features and integrations (via its APIs); expand its presence in Europe and enter the US market; and recruit more staff.

The Right Steps for Foodsteps

Beginning as a group of sustainability scientists studying at the University of Cambridge, London-based Foodsteps was founded in 2018 by Anya Doherty (CEO). The tech startup is a provider of environmental footprint data and environmental labels for food companies. Its platform allows food companies to track the sustainability of their food across the supply chain.

Foodsteps is now working with food companies in the UK and internationally. Clients include restaurants, caterers, food brands, retailers and meal boxes.

Doherty says the team has grown by 50% and there are plans to do it again in 2022.

Other ambitions include developing the firm’s database (“always a crowd pleaser”) and platform; and releasing tools for customer insights.

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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