Friday Fundings: MessageBird, Paxos, TravelPerk
Dutch Communications Startup Raises $1 Billion
MessageBird, a Dutch communications platform, raised $1 billion in venture funding. In conjunction with the fundraising round, MessageBird acquired SparkPost for $600 million. SparkPost operates a business email platform.
The Series C round of funding was led by Eurazeo and included participation by new investors Tiger Global, BlackRock, and Owl Rock. The deal consisted of $700 million in equity and $300 million in debt.
By acquiring SparkPost, MessageBird will make it easier for customers to communicate with their customers via SMS, voice, messaging, and now email. Some of MessageBird’s clients include Disney (DIS), Adobe (ADBE), and JPMorgan Chase (JPM). The latest capital infusion gives MessageBird a valuation of $3.8 billion.
Cryptocurrency Startup Raises $300 Million
Paxos, a startup which helps enterprises offer cryptocurrency products, raised $300 million in venture funding. The Series D round was led by Oak HC/FT and included participation by Declaration Partners, PayPal Ventures, and Mithril Capital, among others. The latest round gives Paxos a valuation of $2.4 billion.
The cryptocurrency technology company is building infrastructures and white-label services for corporations that want to offer crypto products. Paxos enables PayPal (PYPL) to offer customers the ability to buy, hold, and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. PayPal’s Venmo also added the cryptocurrency feature. With the new funding, Paxos plans to continue investing in its infrastructure and enhance reliability, security, and compliance.
Corporate Travel Startup Raises $160 Million
TravelPerk, a Barcelona startup which helps businesses book flights and manages travel expenses, raised $160 million in venture funding.
The Series D round consisted of equity and debt financing and was led by Greyhound Capital. Since TravelPerk’s inception in 2015 it has raised $294 million. VCs are betting corporate travel will begin to rebound this year and are pouring millions of dollars into startups which are poised to benefit.
The company’s rival, TripActions recently raised $155 million, and has a $5 billion valuation. TravelPerk plans to use proceeds to support growth in the US and Europe and for product innovations to meet business travelers’ needs post-pandemic.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS21043003
All your finances.
All in one app.
App Store rating
