Manchester-based Praetura Ventures led the funding round to help the Leeds technology firm enhance its product and expand its client base.
"RapidSpike is one of the most exciting young businesses in the North’s tech scene, with a unique platform that allows businesses to build safe, reliable and secure ecommerce websites. We have all seen the huge financial and reputational impact cyber breaches can have on businesses. RapidSpike is well-placed to support the growth in ecommerce and help to protect against the rise of cybercrime and particularly the Magecart threat."
— Sim Singh-Landa, Head of the GMC Life Sciences Fund by Praetura
Prudential and FNZ jointly led the six-figure investment into the digital vault startup.
"Life organisation and Legacy planning is something that can fill many with dread. While it is understandably a sensitive subject and strenuous task, it’s important that services like ours make it as easy as possible to prepare for life’s unexpected events. It’s important to highlight how it is never too early to think about the future and to keep plans updated throughout your life."
The funding round was led by Blackstone with participation from Fairfax Financial Holdings.
"Matthew, Mark and the rest of the Ki team have created a unique opportunity in Lloyd’s to revolutionise the market and we are excited to be a part of this, in partnership with Fairfax. Ki’s first-of-its-kind digital model will deliver a unique advantage to its’ business partners which we believe will enable it to build to significant scale, while its algorithmically-driven approach represents an important evolution in the portfolio management of specialty risks."
The Series A round was led by Balderton Capital to accelerate domestic growth and support international expansion.
"These are challenging times for anyone working in hospitality and income diversification is a powerful tool to boost revenues. I’m thrilled that venues from pubs, restaurants and hotels to casinos and supermarkets are embracing the delivery first era, by firing up their kitchens with Kbox."
Warwick Capital Partners led the follow-on investment as the business bank launched a separate £100m funding round to meet surging demand.
"Established small and medium sized enterprises (SMEs) will be vital to the recovery and health of the UK economy, but it is clear that the supply of finance has been very badly damaged by Covid-19 outside of the government schemes.The time is now for Allica to scale up its operations to meet this business funding gap, bringing a blend of human relationships, deep lending expertise, and digital disruption. Together with potential acquisition opportunities of non bank lenders impacted by the pandemic, we intend to create the leading SME challenger bank for the decade ahead."
