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Today In Payments Around The World: wefox Lands $650 Million; sennder Notches $80 Million

Today In Payments Around The World: wefox Lands $650 Million; sennder Notches $80 Million

June 02, 2021 at 06:44PM
by PYMNTS

In today’s top payments news around the world, digital insurance firm wefox raised $650 million in financing, while freight forwarder sennder landed an additional $80 million. Plus, open banking platform Belvo notched $43 million.

European Insurance Unicorn Wefox Notches $650 Million at $3 Billion Valuation

wefox, a digital insurance firm that is based in Germany, has notched $650 million in financing, providing it with a $3 billion valuation. The firm said it plans to invest the infusion in growing into Asia and the U.S. within the next two years, while shoring up the business in such current markets as Poland, Switzerland, Austria and Germany.

German Freight Forwarder Sennder Raises $80 Million at $1 Billion Valuation

sennder, the German freight-forwarding upstart, raised $80 million in the second closing of its Series D funding round, bringing the total size of the round to $240 million at a valuation of in excess of $1 billion. The Berlin-based company, which launched in 2015, purchased Uber Freight Europe and Everoad last year.

Belvo Nets $43 Million in Series A Financing to Expand Open Finance Platform in LatAm

Belvo, the Latin American open banking platform, landed $43 million in a Series A funding round. Belvo started operating last year and had added over 60 firms as clients in Colombia, Brazil and Mexico. The firm has boosted its application programming interface (API) coverage over the last year. The news comes as the pandemic has accelerated the open banking initiatives that had already been gaining momentum during the last several years in Latin America.

Wise Now Facilitates Indian Rupee Transfer to 40+ Countries

Wise, the money transfer service, is now facilitating rupee (INR) transfers from India to over 40 nations, including the United Kingdom, the United States and Australia. U.K.-based Wise was started by Taavet Hinrikus and Kristo Kaarmann in 2011. The company changed its name from Transferwise in February.

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