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.
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.
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, 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, 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.