BACKED is the human-centric seed VC fund that has supported over 120 entrepreneurs and 70 companies.
The seed round was co-led by Portage and Backed to support international expansion and product development.
"Lopay’s mission has resonated with thousands of small businesses and sole traders who are being squeezed simultaneously by high inflation and fragile customer demand."
Backed VC led the seed round to support the care workforce management platform.
"We met at Entrepreneur First, where we spent hundreds of hours with care providers who were turning down hundreds of thousands of pounds every year in contracts because they couldn’t find the staff they needed to service them. We realised this was partly because of the time and money they had to spend learning how to stay compliant, often working with expensive third party lawyers and recruiters. We saw how solving those high costs could positively impact the care industry – and that’s why we started Borderless."
The seed round was led by EQT Ventures with backing from several prominent tech investors.
"Today, we are going after humanity-defining problems, and hardware engineering teams are the ones working on complex projects like the development of various clean technologies. I call this group of engineers ‘new age hardware engineering teams’."
The pre-seed round was co-led by Global Founders Capital and Backed VC to support the development of international credit infrastructure.
"As a result a data disparity exists that means people have to start again every time they move to another country. Our intention is to look at consumers based on their credit footprint globally, not on a country by country basis."
Nyca Partners led the Series C round, which values the business at over $1bn and includes backing from several major global banks.
"We are delighted to have earned the support of our new and existing investors as we continue to move the world’s leading banks into the cloud. We set out to eradicate legacy technology from the industry and ensure that all banks deployed on Vault can succeed and deliver on their ambitions. These new funds will accelerate the delivery of Vault into banks around the world who wish to implement their future vision of financial services."
