Mr. Worldwide: Friday Dealbook for 9/24/2020

September 25, 2020
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This week’s deals demonstrate the global reach of digital identity. UK-based Ripjar raised $3.57 million for its AML detection platform; Acesso Digital, headquartered in Brazil, brought in $108 million for its facial recognition technology; and Chime, out of Silicon Valley, raised an incredible $485 million for its neobanking service. Rapid digitization, mobile adoption, growing fraud rates are driving the need for digital identity in all reaches of the world.

 

Ripjar \ ripjar.com \ Founded in 2012

Developer of a strategic intelligence platform designed to analyse real-time information. The company’s next-generation platform combines deep learning technology, advanced analytics and global data collection to tackle analytic problems for real-time threat intelligence, anti-money laundering and insider threat enabling organizations, brands and agencies to analyze and visualize real-time information from bulk of structured and unstructured data.

The company raised $3.57 million (GBP 28 million) of Series B venture funding in a deal led by Long Ridge Equity Partners on September 24, 2020, putting the company’s pre-money valuation at $91.8 million (GBP 72 million). Winton Ventures and Accenture Ventures also participated in the round. The funds will be used to accelerate new product development and facilitate the expansion of Ripjar’s ground-breaking data intelligence platform, Labyrinth; expand its sales and marketing presence in Asia, North America, and Europe; and grow its employee base to support current and future clients.

 

Acesso Digital \ acessodigital.com \ Founded in 2007

 

Developer of facial recognition and identification technology created to solve security loopholes in companies. The company’s technology facilitates people’s relationships with companies and solves major challenges such as anti-fraud facial biometrics and the digital admission of employees, allowing companies to mitigate risk for fraud and identity theft with ease.

 

The company raised $108 million (BRL 580 million) of venture funding in a deal co-led by SoftBank Group and General Atlantic on September 21, 2020, putting the company’s pre-money valuation at BRL 620 million. Other undisclosed investors also participated in this round. The funds will be used to expand the business, including via acquisitions.

 

Chime \ chime.com \ Founded in 2012

 

Developer of a mobile platform designed to offer banking services on the go. The company’s platform sets aside a predetermined amount of money in savings after a transaction and the company earns revenue from transaction fees paid by the merchant aligning company incentives, thereby enabling users to avoid fees, save money, and lead healthier financial lives.

 

The company raised $485 million of Series F venture funding from Access Technology Ventures, Dragoneer Investment Group and General Atlantic on September 18, 2020, putting the company’s pre-money valuation at $14.02 billion. DST Global, Coatue Management, ICONIQ Capital, Whale Rock Capital Management, and Tiger Global Management also participated in the round.

 

Investor Highlight

 

ICONIQ Capital \ iconiqcapital.com \ Founded in 2011

 

Founded in 2011, Iconiq Capital is a multi-family office investment firm based in San Francisco, California. The firm seeks to invest in the information technology, retail, and media sectors.

 

Active Portfolio – 63

Investments (TTM) – 25

Med. Round Amount – $85.00M

Med. Valuation – $850.00M

# of Exits – 25