Business

Wayflyer, Morse Micro, Behaviol, and more


Dynamic Business brings you the key startup fundraising from this week:

Wayflyer secures USD$253 million debt financing from Credit Suisse

Wayflyer, the revenue-based financing and growth platform for online retailers, has contracted with Credit Suisse for a USD$200 million (plus USD$53 million mezzanine) debt financing facility. With the USD$200 million debt and USD$53 million mezzanine facility, Wayflyer is better able to discover and help high-growth companies looking to boost their liquidity and operational resilience. 

The most recent acquisition comes after a successful series B capital round valued Wayflyer at USD$1.6 billion and a USD$300 million debt financing agreement with J.P Morgan in May 2022.

Australia’s Morse Micro banks a $140 million funding round

With a $140 million funding round led by Japanese chip giant MegaChips, Sydney-based Morse Micro, the largest semiconductor manufacturer in Australia, plans to use its extensive network to accelerate the production and distribution of its energy-efficient, long-range WiFi HaLow chips. 

Morse Micro received $100 million from MegaChips in its series B financing. The remaining funds come from Malcolm and Lucy Turnbull, Blackbird Ventures, Main Sequence Ventures, Clean Energy Finance Corporation, Skip Capital, and Uniseed.

Cricketer Kumar Sangakkara cofounded Behaviol bags $3.2 million in Seed funding

Sangakkara co-founded Behaviol, an esports firm with offices in Sydney, along with Dr Dinuk Jayasuriya, Reza Magdon-Ismail, and Krishan Deegalla. Behaviol recently raised $3.2 million in a funding round co-led by the Singaporean investment firm Hangar X and included several web 3.0 and sports investors. 

Players can purchase and develop virtual sports stars with Behaviol. In its inaugural game, Meta 11, users will be able to recruit, develop, and upgrade the stars on their team in a virtual cricket game.

KOBA raises $500K in 72 hours through crowdfunding

The pay-per-kilometre insurer raised $500,000 in under 72 hours, and only 50% of the available shares are left for the general public to join. Drivers who cover with usage-based insurer KOBA pay as little as 3 cents per mile driven, and the company’s customer base is increasing by over 50% per month. Birchal previously raised $1,000,000 in 2021 and wrapped up the crowdfunding campaign in just five days, making this KOBA’s second funding round.

Evrima secures a $3 million raise

Evrima, a startup that invented an end-to-end clinical trial solution, has secured AU$3 million in order to quadruple its staff size and expand the functionalities of its tech platform. In completing the round, the company was joined by BridgeLane Capital, Wavemaker Partners, and Artesian to become the first beneficiary of its new Female Leaders Fund. 

The platform of Evrima, founded in 2019 by Charlotte Bradshaw, whose career revolved around clinical research marketing and recruitment, intends to alleviate the multiple difficulties faced by researchers while starting and running a clinical study.

Bridgit hits $1bn in loan applications for bridging finance

As more homeowners choose to purchase their new house before first selling their current property, tech-driven bridging loan expert Bridgit has received a record-breaking $1 billion in loan applications in less than 12 months since its start. 

Bridgit offers quick online applications, same-day approvals, three months of interest-free financing, the flexibility of a “buy first, sell later” strategy, and no repayments until the loan matures and the existing house is sold.

Excellent raises $2 million in pre-Seed round

Excellent, a new Zealand startup focused on designing the employee experience, has raised NZ$2 million in a pre-Seed round. Leading the round was ANZ VC Blackbird Ventures, which was backed by Icehouse Ventures, Sir Stephen Tindall’s K1W1), and a number of other founders, including Brooke and Leighton Roberts, cofounder of Sharesies, Mahesh Muralidhar, CEO of Phase One Ventures, Mike Carden, cofounder of Joyous, Adam Clark, CEO of Groov, and Justine Smyth, chair of Spark NZ.

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