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A word from our investors
02 Mar 2022

A word from our investors

It’s been 7 days since we announced the closing of a $40 million Series A round. 

Tiger Global led the round – one of the world’s leading VCs who themselves are disrupting Venture Capital – with participation from Local Globe and Mubadala Capital.

The round brings our company’s total funding to $55 million since February 2020 including previous investors Anthemis, QED Investors, Seedcamp, Force Over Mass, Headline and Systema.

With great pleasure and pride, we’ve put together some of what our existing and new investors had to say about this phenomenal achievement over the past week.

Michael Kent – Founder and Executive Chairman at Azimo

Congrats 🎉 to Alex Mifsud, Adrian Mizzi, Regina Lau, Daniel Greiller, David Joyce and the whole team at Weavr.io from myself and all at Headline on the announcement of their landmark $40m Series A funding round 💸 with friends and partners: QED, Anthemis Seedcamp, Latitude, Mubadala and Tiger Global 🐯 – happy to double down…

#embeddedfinance has arrived, it’s massive and it’s going to smash the borders of traditional fintech and spread its disruptive power into all areas of the digital economy. By orchestrating the best partners into a simple to use #plugandplay API Weavr allows any ambitious forward thinking businesses to offer a huge range of financial services to better serve their customers, improve their unit economics and get live in a matter of days 📈💰

In awe of whats been delivered so far – can’t wait to see what comes next…

#fintech #funding #team

Headline – Venture Capital & Private Equity

“In the past, industry disruptors like Uber and Amazon had no choice but to build their finance integrations from the ground up. We shorten the time to embed financial solutions from months to days”

A big congrats to Alex Mifsud, Adrian Mizzi, Daniel Greiller, David Joyce, and Regina Lau for today’s $40m round led by Tiger Global on a $250m valuation.

As they say, “In The Future Every Company will be a Fintech company”. In practice, that’s no easy task. Companies can:

1/ Build their finance integrations from scratch, which is costly, complex, and time-consuming

2/ Rely on traditional banking-as-a-service (BaaS) solutions, which are limited due to their high cost, compliance requirements, and long implementation times.

Weavr.io is changing the game by allowing customers to easily deploy embedded financial services with minimal complexity, simplified compliance, and flexibility. We have no doubt a big chunk of the FinTech future will run on Weavr’s APIs!

Yusuf Ozdalga – Partner at QED Investors

It seems like it was just yesterday when we did the pre seed round, but in fact it has been eighteen months, and a lot has happened with Weavr.io since then! 🚀🚀🚀

This funding round by Tiger Global Management is one more step on an ambitious journey that has the modest goal of transforming how #fintech is consumed. ⚙️💳💵

Plug & Play Finance is all about making financial services accessible for companies so that they can deliver seamless user experiences for their end customers – making banking and financial service invisible.

Congratulations to Alex Mifsud, Adrian Mizzi, Regina Lau, Daniel Greiller and the entire Weavr.io on an amazing and well deserved outcome!

https://lnkd.in/d3Jmw3xJ

QED Investors Nigel Morris Bill Cilluffo Ashley Marshall Alexandra Piedrahita

Tom Lambert – Partner at LocalGlobe & Latitude

We’re delighted to officially join the Weavr.io journey, coming in alongside a stellar list of co-investors – we’ve been looking for something Weavr-shaped for a long time, and here’s why:

As fintech applications have exploded over the past couple of years, so too has the infrastructure providers that power them. Companies like Synapse and Railsbank have emerged as leaders at servicing, and growing with, these burgeoning customers.

On the whole, these fintech customers – like our own portfolio company, Wagestream – are well-versed in the risks associated with such applications. After all, financial products are core to their own business.

Yet as time has progressed, a broader set of customers have become interested in entering the world of finance. Many marketplaces and SaaS companies with limited or no prior financial features have awoken to the benefits of embedding financial services into their offerings.

They understand that by leveraging their existing customer relationships and proprietary company operating data, they’re able to offer more tailored, more efficiently priced products, right when and where their customers need them.

And by doing so, they can build richer, deeper, more trusted relationships, resulting in greater engagement, retention and monetisation of their customers while providing a huge upgrade on the existing experience of visiting a bank.

This all sounds great and logical but the early infrastructure providers haven’t designed their product around this new breed of financial innovator, which is where Weavr.io comes in ->  

Dealing with risk and compliance effectively can be highly complex, particularly for companies whose primary MO isn’t financial services. Existing BaaS platforms typically outsource this to their customers, resulting in long and expensive times-to-market (c. 1 year).

Weavr.io has simplified this by building a low-code platform where processes and procedures can be codified against the underlying financial products they’re supporting. In doing so, removing complexity by creating a context-driven risk and compliance engine.

They’ve integrated a number of best-in-class providers for each underlying product (e.g card issuing or transaction initiation). These can be orchestrated by use-case, geography and volume so that customers only ever need one embedded finance partner.  

The result is a new way for developers to integrate financial services into their software applications that Weavr calls “Plug-and-Play Finance”.

But of course we don’t just back a smart thesis, it was the Weavr team that really got us excited. They bring deep domain experience across payments and enterprise SaaS and are led by 3rd-time founders and payment veterans, Alex Mifsud and Adrian Mizzi. 

Having such an exciting product in the hands of such an experienced team is an investor’s dream and we couldn’t be more excited to join Weavr on this journey!

Yann Ranchere – Partner at Anthemis Group

Congratulations to the team Weavr.io , it has been an exciting journey so far (from preseed) and a lot more to come! I can’t think of another team with such a deep technical and payment expertise working on abstracting complexity from first principle for #embeddedfinance. Onwards!

Anthemis Group

Congrats to our portfolio company Weavr.io on their recent Series A funding!

Force Over Mass

Congratulations to the team at @WeavrPayments!

Matthew Holding

We are so proud of @WeavrPayments for raising USD 40 million Series A led by #TigerGlobal 🎉. Congrats to the team @alexmifsud & glad to be on the journey with @QEDInvestors @fomcap @anthemis @HeadlineVC @seedcamp 🚀✌️

Nigel Morris – Managing Partner at QED Investors

Hats off, Alex Mifsud and the Weavr.io team. It’s been a real joy to witness your growth over the past 18 months.

Akhil Paul – Investor at Caparo Group and Advisor

🏦 In 2008, I worked closely w/ Jim Barrett, CFA when we were both analysts at Goldman Sachs

👉🏽Jim & I covered many of the same clients & I valued his judgment on people highly!

🤝We stayed in touch after I left & Jim (now at Julius Baer) reached out to me in Aug 2019 with an email introduction to Alex Mifsud

🥶Jim, whilst prospecting many years ago, had cold-approached Alex (after reading about his company, Ixaris) and they’d recently discussed Alex’s new venture, Weavr.io !

🤯Weavr.io was focused on the embedded finance market which a recent study by Juniper Research suggested will exceed $138 billion in 2026, from just $43 billion in 2021! (https://bit.ly/3p5n1DW)

🔥Given Alex’s *super-founder* background & Jim’s endorsement, I jumped on the intro immediately

📞I remember the conversation w/ Alex clearly, the combination of humility and clarity of vision for what he wanted to build came through in the first 5 mins of the call!

🤯I (somehow) managed to convince Alex to have me involved

👉🏽Alex’s vision for Weavr.io was simple:

👍To make embedded financial services available to any company w/ a digital presence at a fraction of the cost of incumbents (who are usually lumbered w/ heavy costs, compliance burdens & long implementation times!)

🐯Since early 2020, Weavr.io has raised $55mn, including the $40mn series A round (announced today!) led by Tiger Global Management, LocalGlobe growth fund – Latitude, Mubadala & existing investors QED Investors, Headline, Anthemis Group & Seedcamp coming in too!

👉🏽The Weavr.io platform:

1️⃣ Provides everything a business needs to integrate financial services seamlessly into its mobile apps, SaaS applications & other digital properties!

2️⃣Eliminates the cost & burden of multiple vendor relationships, simplifies compliance, shortens the runway for integration & empowers businesses of all kinds to go to market swiftly and safely!

3️⃣Allows customers to add more financial services as their businesses grow & even add financial providers to power them in new geographies!

4️⃣ Has a Plug-and-Play technology that is open to connect to financial-services providers & vendors in multiple geographies across continents

👉🏽Weavr’s customers include Ben, ParkingPerx, Mosaic Health & many others

🇺🇸The new financing will support Weavr’s international expansion plans, beginning with an official U.S. market launch!

👉🏽Whatever the sector, I’d encourage businesses in my network to use Weavr’s financial plug & play system to unlock business growth compliantly & securely and go live in weeks, rather than months/years !

🙌🏾Weavr.io is hiring, so head over to their careers page to join a 🚀 that is reshaping the world of embedded #finance, one of the fastest growing markets in the world!

🙏🏽Huge thanks to Alex & Adrian for having me involved & to Jim for sending me that email

More in comments⬇️

#startups #venturecapital #fintech Tom

Yusuf Matthew Alex Christian Julian

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