Mercia backed the follow-on funding round as Enate appointed James Hall as its new chief executive officer.
"I am delighted that Mercia is delivering on their promise of being a long-term value-add partner to us. Mercia sees the successes clients such as TMF, CapGemini and LBG have with our technology. As a result, Enate is becoming ‘the’ platform for clients embarking on digital transformation and intelligent automation at scale and in their operations."
The Kent-based firm secured equity finance to fund international expansion and new product development.
"The need to have power to critical and remote locations without the reliance on fossil fuels is growing more acute by the day. We see this latest fundraise as just the start of another period of exceptional growth."
The London startup raised the capital from Octopus Ventures, MMC Ventures, Concept Ventures and several angel investors to expand its product suite and grow the team.
"This funding is a huge step forward for the Ribbon team. It enables us to grow the team, continue to expand our platform and streamline how product and user research is done. We want to empower companies to build great products by making it easy to make informed product decisions. Democratising access to product research through easy-to-use and powerful tooling plays an important part in that process."
The seed round was co-led by CRV and Earlybird to support team expansion and new banking integrations.
"We literally watched them use a spreadsheet with one hand to count payments and cash with a bank file on the other hand to manually send money to their customers. It was both inefficient and antiquated. Once we saw the problem, we knew there had to be a better way and became determined to create it."
The oversubscribed funding round was led by Calyx Venture Fund with participation from Lord Stanley Fink and MPA Education.
"We founded Blackbullion to make financial wellbeing accessible to all young people, through great financial education and better, more inclusive access to funds. The current cost-of-living crisis makes this more urgent than ever, as we continue to create solutions truly focusing on students’ specific financial needs. We’re beyond excited to make this happen, with this new breed of operator-led investors, as we head into our next phase of growth."