London and beyond are looking good with Jeeves, The Mothership, Climate X and Della getting tech funding.
Jeeves, a corporate card and expense management platform for startups, has raised a $180 million (£136 million) Series C at a valuation of $2.1 billion (£1.6 billion).
London-based e-commerce platform The Mothership has picked up $22 million (£16.6 million) in funding from private investors.
Climate X, a London-based climate risk analytics provider, has raised £4.1 million in seed funding. CommerzVentures and A/O PropTech led the round.
Della, a legal technology startup, has raised $2.5 million (£1.9 million) from new and existing investors, after closing its first seed funding round.
Jeeves says the Series C comes seven months after the fintech company’s Series B round. This equity financing was led by Tencent and includes participation from Andreessen Horowitz, Silicon Valley Bank and many others.
Jeeves is headquartered in New York and works with companies across 24 countries in North America, Latin America, the UK and Europe. Its client base consists of startups, e-commerce and SMEs.
In the last 12 months, the company has raised over $380 million (£288 million). Jeeves will use the capital to fuel expansion across Latin America, Canada and Europe, scale its proprietary Banking as a Service infrastructure to cover more currencies and bring in more staff. The firm wants to cover 40+ countries in the next three years.
Life’s pretty good for the fintech firm as it has doubled its client base to more than 3,000 companies and has grown revenue by 900% since the Series B in September. It crossed $1+ billion (£757.7 million) in annualised gross transaction volume (GTV) 11 months after its public launch in March 2021.
The Jeeves team currently consists of 150 employees across ten countries. In addition to the Series C announcement, Jeeves is also announcing additions to its leadership team including a CTO, Director of Partnerships, Head of Sales Operations and Head of Strategy.
Listen with Mother(ship)
The Mothership says the investment will be used to expand the company’s portfolio of “loveable, more sustainable” brands. The tech firm was founded in March 2021 and specialises in acquiring, or partnering with, sustainable consumer product companies selling online.
The “loveable” company is looking for more love in the e-commerce space for small businesses, including independent e-commerce and Amazon sellers.
The funding will be used for new acquisitions and team expansion. It has 20 employees listed on LinkedIn.
Amongst the companies already acquired by The Mothership is TCU Trading, owner of two brands, Pluvios and Case4Life.
Climate X featured in our ‘10 Tech Startups to Watch in 2021’. That was followed by December’s news when the tech firm unveiled a new solution to provide risk data and ratings for the world of climate data.
Pale Blue Dot led Climate X’s £1.1 million pre-seed round announced in July 2021 and provided follow-on funding in this seed round – alongside others.
Climate X senses opportunities as it explains that change-related risks are expected to cost the global economy up to $23 trillion (£17.4 trillion) by 2050, “disproportionately impacting marginalised communities”.
It adds that the UK government has already announced mandatory climate-related financial disclosures by publicly quoted companies, large private companies and LLPs, enforceable for financial reporting periods starting on or after 6 April 2022.
Climate X provides the tools to meet these statutory requirements. It offers location-specific risk ratings and loss estimates for extreme weather events linked to climate change through to the year 2100, under multiple warming scenarios.
Delightful for Della
It was the best of times and it certainly wasn’t the worst of times. Della, which is based in London and Paris, says new investor Pragmatech Ventures joins Thibault Poutrel, Frederic Montagnon and other international investors, who have supported Della since its launch. The funds will be used for expansion plans in Europe and the US.
Della provides law firms and in-house legal teams with artificial intelligence (AI) to review and audit legal documents. Founded in 2018, its platform was launched in January 2020 and is being used by small and large law firms across various countries, including Mishcon de Reya and Fidal.
Via Della, users can create checklists, highlight relevant language, detect potential red flags, prepare custom reports, generate letters and other documents to help them to build their case and advise their clients.
Della’s AI is built on a “massively pre-trained language mode”, which enables transfer learning.