The financing round was led by IFC with participation from Prime Ventures, Partech Africa, and DFC.
"We are thrilled to announce the successful completion of our Series B financing round. This latest funding is a testament to our exceptional achievements and the unwavering dedication of our team in delivering innovative payment solutions to customers globally. The continuous support from our investors and lending partners has enabled us to expand our infrastructure, enhance our network coverage, and accelerate investment in our operations, product development, and technology. We look forward to continuing our valuable strategic partnership with our investors and delivering continuous value to all our stakeholders, including customers, partners, investors, and employees."
The London-based mortgage intermediaries platform will use the fresh capital to accelerate product development and customer growth.
"Acre represents the future of a tech-led mortgage market. Aviva Ventures are delighted to continue to support Justus and his team on Acre’s journey to deliver much-needed tech innovation that benefits homebuyers, brokers, and lenders"
— Ant Barker, Head of Venture Investments & Partnerships
GV led the Series A round with backing from Decibel and high-profile angel investors.
"An explosion in SaaS adoption, coupled with a big push to self-service platforms driven by product-led growth (PLG), means employees increasingly sign up and buy SaaS directly without going through the security team first. This creates an unwieldy sprawl of SaaS applications being introduced to the business with no corporate oversight. Security teams have to play catch-up to ensure these apps aren’t exposing their businesses to undue security risks or invalidating their security compliance."
The oversubscribed round was backed by Outward, Acrobator Ventures, s16vc founders fund, and B&Y Venture Partners.
"When we started this fundraise the market was just starting to go through a rough spot, so there was a lot of talk about negative sentiment. However, what we found is that there is a significant amount of venture capital out there. Funds have been raised and need to be deployed, investors are just more selective. Our industry is counter-cyclical and we designed our business to grow in a sustainable way, with positive unit economics and a clear path to profitability in mind. The current macro trend has played to our strengths and allowed us to select amazing partners for the journey ahead! We are very grateful to all of our new investors and are excited to build out the next stage of Finverity’s growth in partnership with them!"
