This week saw UK tech funding deals for savings platform Flagstone, electric courier service Packfleet, Hydrogen generator developer Suiso, battery tech firm Anaphite and more.
UKTN tracked £219.6m worth of funding deals for UK tech firms this week (11 March to 15 March), with fintech and energy tech the most represented sectors.
Here’s your weekly roundup of UK tech startup funding.
Flagstone – £108m
Sector: Fintech
HQ: London
Round: Growth VC
Funding type: Equity
Investors: Estancia Capital Partners
Founded in 2015, Flagstone is a savings platform where users can access and maintain multiple finance accounts in a single place. Savers can spread deposits across hundreds of accounts.
PPRO – £73m
Sector: Fintech
HQ: London
Round: Late-stage
Funding type: Debt
Investors: Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan, Citi Ventures and funds managed by Blackrock
Founded in 2006, PPRO provides digital payments infrastructure to businesses, banks and financial institutions.
Griffin – £18.7m
Sector: Fintech
HQ: London
Round: Series A
Funding type: Equity
Investors: MassMutual Ventures, NordicNinja, Breega, Notion Capital and EQT Ventures
Founded in 2017, Griffin is a banking as a service (BaaS) provider. The company offers tools for financial companies such as customer onboarding checks and payments.
Packfleet – £7.8m
Sector: Mobility
HQ: London
Round: Series A
Funding type: Equity
Investors: General Catalyst, Voyager Ventures, Creandum, Entree Capital and Founder Collective
Founded in 2021, Packfleet operates an all-electric courier network. The company handles the delivery of products for clients, as well as the tech and tracking end.
SAPI – £7.5m
Sector: Fintech
HQ: London
Round:
Funding type: Equity
Investors: Passion Capital, angel investors
Founded in 2020, SAPI is a platform through which payment companies can offer loans and financing services, SAPI earns a share of the revenue from loans made through its software.
Suiso – £3m
Sector: Climate tech/energy
HQ: Rotherham
Round: Seed
Funding type: Equity
Investors: Northern Powerhouse Investment Fund
Founded in 2021, Suiso develops hydrogen generators that can be fitted directly on-site to power hospitals, factories and hydrogen vehicle filling stations.
Anaphite – £1.6m
Sector: Deep tech/energy
HQ: Bristol
Round: Series A
Funding type: Grant/equity
Investors: UKRI, Elbow Beach Capital, Wealth Club and Bristol Private Equity Club
Founded in 2016, Anaphite is a battery tech startup that is developing a “dry-coating” technology to reduce the cost of electric vehicle battery manufacturing.
