Atlanta has been quietly producing unicorns at an unprecedented pace lately, positioning the metro area as the leading tech hub in the Southeastern United States. Funding for venture-backed startups based in the greater Atlanta area, meanwhile, hit a 5-year high last year, reaching nearly $2 billion.
Chicago-based Mediafly, a provider of tools for creating sales pitch decks and other presentations, raised $25 million in debt and equity financing. Boathouse Capital provided the equity, and Sterling National Bank provided senior debt.
Stilt, a startup providing financial services for U.S. immigrants, raised a $100 million debt facility from Silicon Valley Bank. The financing will go to support its lending product and a new checking account offering for customers and people without credit.
SamCart, an Austin-based startup developing an e-commerce platform designed for direct-to-consumer brands, raised $10 million in a Series A funding round led by TTV Capital. The company provides a way for brands to create websites that showcase their products and drive sales.
Ireland-headquartered fintech startup Scalapay secured $48 million in a seed round to roll out its “buy now, pay later” platform in Europe. Fasanara Capital led the round, which included debt and convertible notes.
Fashion prediction upstart Finesse raised $4.5 million in a round backed by multiple seed investors. The Los Angeles-based startup designs a software platform to forecast and streamline production and manufacturing of the latest fashion trends.
Venture and growth-stage investor TCV closed on $4 billion for its latest fund, TCV XI, its largest to date. Founded in 1995, the Silicon Valley-headquartered firm has invested more than $14 billion in over 350 growth-stage technology companies.
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For any founder, whether a first-timer or a serial entrepreneur, it’s an exciting moment when you receive a term sheet from a venture capital fund for your company’s first preferred stock financing round. Then comes the hard work: digesting, understanding and negotiating the key provisions of the term sheet.