Financial Literacy for All: Friday Dealbook for 5/8/2020

May 8, 2020
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Financial literacy and efficiency steal this week’s spotlight, as askRobin and Treasury Prime raise $1.7 million and $9 million, respectively. Meanwhile, blockchain-based Vereign raised $2.56 million for its email and document authentication solution. While this week’s funding rounds are modest, they highlight an important subject – more than 1.5 billion adults in the world remain unbanked, and enterprises and governments alike are making increased efforts to improve financial inclusion and literacy.

Wanna know what else is happening in the fintech world? Check out the agenda for our next digital forum here – we’ll be talking about friction, user-centric design, and authentication and their effects on financial services.

The Top Deals Covered by OWI this Week

askRobin / askrobin.com / Founded in 2017

Developer of a chatbot platform designed to facilitate financial inclusion of over 3 billion people across developing consumer finance markets. The company’s platform gathers information from questions, scans the credit market, compares loans, and matches credit offers by using artificial intelligence, enabling customers to get improved access to fair credit as well as lower the cost of borrowing.

The company raised $1.7 million of seed funding from Change Ventures, Vereeni Investments, and BENE Asia Capital on May 6, 2020. Lemonade Stand, Ragnar Sass and Taavi Tamkivi also participated in the round.

Treasury Prime / treasuryprime.com / Founded in 2017

Developer of an online banking platform designed to provide integration in banking activities. The company’s platform offers account services, sends and receives money with ACH, wire and book transfers, enabling banks to automate and streamline their financial and compliance operations and improve their customer experience while lowering costs.

The company raised $9 million of Series A venture funding in a deal led by Amias Gerety on May 5, 2020. Jason M. Lemkin and Hans Morris also participated in the round.

Vereign / vereign.com / Founded in 2017

Provider of an authentic communication secured by blockchain in user-controlled clouds. The company offers the technology for self-determined identity, personal data and online authenticity to manage digital identity, enabling businesses to add a layer of authenticity and security to their day-to-day communication and understand what is real and what is fake.

The company raised CHF 2.5 million (USD 2.56 million) of seed funding in a deal led by AquilaDirekt on May 5, 2020. totemo, Crypto Valley Venture Capital and other undisclosed investors also participated in the round. The funding will be used to establish a Swiss network for a verified and self-managed identity service.

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Investor Highlight

Crypto Valley Venture Capital / cvvc.com / Founded in 2018

Founded in 2018, Crypto Valley Venture Capital is an accelerator and venture capital firm based in Zug, Switzerland. The firm seeks to make minority seed and early-stage investments in companies from artificial intelligence, machine learning, internet of things, cryptography and blockchain sectors.

Active Portfolio – 17

Investments (TTM) – 16

Med. Round Amount – $0.13M 

Med. Valuation – $1.25M

Exits – n/a

Deal History

In the past year, Crypto Valley Venture Capital has invested in the following 6 identity companies:

AdHash

BHander

Kimeo

Orvium

Tezsure

Vereign

*Source: PitchBook Data Inc. with proprietary keyword searches set by OWI Analysts