Mapan, Ophelos, Lista, Vibrant and Singletrack

At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news.

Mapan has secured $15 million in Series A funding as it looks to improve financial access for Indonesians.

Mapan raises $15m

The round was co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra). Also participating were Blibli, BRI Ventures, SMDV and Prasetia Dwidharma, as well as global venture capital firms Flourish Ventures and 500 Global.

Mapan says the funds will be deployed to grow its product range, expand its customer reach and drive financial inclusion.

Through its application, Mitra Usaha Mapan, users can access various products and services to start a business and gain access to financing.

Mapan claims to reach over three million members spread across Java, Bali, Sumatera, Nusa Tenggara and Sulawesi, and plans to expand its operations across the rest of Indonesia.

AI tech firm Ophelos has raised £5 million in seed funding led by AlbionVC in a bid to “revolutionise” the debt collection industry in the UK.

Form Ventures, Vast Ventures and existing investors Connect Ventures and Fly Ventures also joined the round, alongside a group of angel investors.

Ophelos says the funds raised will help it expand its ethical debt resolution automation platform and support its expansion and hiring plans in the UK.

Launched in 2021 by Amon Ghaiumy, Paul Chong and Professor Qingchen Wang, Ophelos aims to make the debt resolution process “fairer and easier” for businesses and their customers, combining ethical business approaches with AI technology.

“The Ophelos debt resolution platform marries machine learning, advanced analytics and digital customer experiences with a human approach based on caring and understanding,” the firm says.

Ophelos is authorised and regulated by the FCA for debt-collection activities and is a pending B Corporation.

Filipino fintech start-up Lista has bagged $5.1 million in a funding round led by Openspace Ventures, with existing investors East Ventures, Saison Capital and 1982 Ventures also participating.

Lista says the money will be used to expand its team and further its mission to drive financial inclusion in the Philippines.

Founded in 2021 and headquartered in Manila, Lista serves small and medium-sized enterprises (SMEs) across the Philippines. Currently, the firm operates a bookkeeping app allowing SMEs to monitor and manage their businesses effectively and bring in profits.

“Over the long term, Lista’s vision is to become a super-app for Filipino MSMEs and help them start, run and grow in the digital era,” the company says.

Danish app Vibrant, which turns Android mobile devices into points of sale (POS), has raised €4 million in seed funding led by byFounders, with Luminar Ventures participating.

Vibrant raises €4m

Founded in 2020, Vibrant provides digital tools “that enable businesses to pivot away from card terminals, coins and notes, ensuring that small business vendors are equipped to inexpensively and simply enact sales”.

The firm notes that card terminals can take “several months” to be delivered. As a solution, Vibrant can be downloaded instantly for use with Android devices to be used as points of sale.

The start-up claims its transactions are currently increasing 70% month-on-month.

It adds that it will use this funding to grow its customer base and expand into new markets “that harbour millions of untapped SMEs”.

Vibrant CEO Kasper Krog comments: “We believe in liberating merchants from the legacy of cash and expensive card machines. Mobile devices can act as pocket terminals for any small trader, which is the next chapter in the future of the cashless society.”

UK-based Singletrack, which provides client engagement, research management and analytics for capital markets, has secured a “significant” investment from Accel-KKR.

The firm says the investment will enable it to accelerate expansion plans into global markets and execute on strategic mergers and acquisitions.

Founded in 2009, Singletrack claims to have over 50 clients in 29 countries and helps “clients on both the sell and buy sides maximise revenue, efficiency and profitability”.

Singletrack says its sell-side platform leverages assets and information for sales and trading, research, events and corporate finance, using tools including AI and machine learning to uncover deep client behaviour insights and inform client strategy.

On the buy side, the company offers a vendor relationship platform that captures interactions of all types with brokers and other research providers, handles voting, manages contracts and more. The resultant data informs research acquisition strategies, vendor management and allocation of research finance.