Raylo has raised up to GPB 10 million in a debt financing round led by Avelinia Capital. The UK-based company is running a circular economy leasing model. You can lease a refurbished iPhone 12 64GB for a monthly fee of GBP 27.99 for 24 months. It’s interesting to note that they are using open banking data to assess clients’ finances.
DANCE has raised €15 million in a Series A funding round led HV Holtzbrinck Ventures. The Berlin-based company is operating an e-bike subscription service. Interestingly, they also include an option to rent your bikes to other users.
Islamic Finance is often compared to Social Finance. We are not entirely convinced of the similarities but follow the developments in this field. Berlin-based insha has raised €2.5 million from Turkish payment service provider Param. It wants to expand its digital services following sharia-related banking rules.
US-based Draper Richards Kaplan Foundation has opened its European office in The Hague and also launched an $80 million fund as reported by ImpactAlpha. The fund will support early-stage social impact entrepreneurs.
PayPal invests $50 million in eight early-stage, Black and Latinx-led venture capital funds. This is part of its $530 million pledge to support black-owned businesses. Capitalizing minority-led venture capital funds is a way to reduce the gap in the funding split.