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Welcome to the second part of our weekly update about UK Startups that raised funds in the past week.
In first part, we looked at companies that raised comparatively less funds but still have ambitious plans. In this part, we are going to touch upon the companies that raised $1M or more.
Let us have a detailed look at the UK Startups that Raised Funds: 09-13 June 2014 (Part 2).
FightMe Closed $1.35M in Seed Funding
FightMe, a London, UK-based collaborative social video network that invites users to join in challenges and create their own, closed $1.35M seed funding.
The investment will be used to grow its team and launch its app for Android platform and host a gamut of events to continue strengthening its feet in the US market.
Founded in 2013, FightMe is a video network that leverages social collaboration. Users are invited to join in the challenges and create their own.
The FightMe use is simple – Users create 30 secs video about anything under the sun they want to share with the external world and then invite a global community to take part in a friendly challenge.
MicroEnsure Holdings Raised $10.4M in Equity Funding
MicroEnsure Holdings Limited, a Cheltenham, United Kingdom-based provider of insurance to the low and middle-income market, raised $10.4m in equity funding.
Following an 88% increase in the number of clients served in the past five months, MicroEnsure’s rapid expansion attracted new investors and managed to raise funds from its existing investors.
“MicroEnsure is delighted to have Sanlam Emerging Markets and AXA invest in the Group and join Telenor, IFC, Omidyar Network and Opportunity as strategic investors,” explained Richard Leftley, CEO for MicroEnsure.
MicroEnsure intends to use the funds for the continued expansion into new markets.
TransferWise Raised $25m in Series B Funding
London based International Money Transfer Platform, TransferWise, raised $25m in Series B funding.
TransferWise enables people to transfer money abroad at a lower cost than before. Using the TransferWise platform, over £1bn of funds have been moved.
Following this investment, with total funding of $33m, TransferWise intends to use the funds to raise awareness of hidden fees applied to overseas money transfers.
5app Closed $5.1M Seed Round
5app, a London, UK-based mobile enterprise enabling company, closed its $5.1m seed-funding round led by Beckman Group and a number of private investors.
5app has come up with a different approach to deal with BYOD wave. It makes it easier for the employees to find the right apps without giving away total control.
The funds are going to be utilized to create new products for enterprises and communications services providers.
Additionally, 5app is working on an Apache Cordova-based app builder for enterprises, which will use the 5app store as its main distribution channel.
Here goes the tabular list of the UK based companies that raised funds in the past week:
|Date||Name||Amount||Type of Funding|
|09 Jun 2014||Formisimo||£350K||Venture Capital|
|09 Jun 2014||Micro Ensure||$10.4M||Equity Funding|
|09 Jun 2014||GeoGrafi||£150K||Growth Funding|
|10 Jun 2014||TransferWise||$25M||Series B Funding|
|12 Jun 2014||FightMe||$1.35M||Seed Funding|
|13 Jun 2014||5app||$5.1M||Seed Funding|
|16 Jun 2014||Chic By Choice||€500K||Seed Funding|