Soundcloud, the music sharing website, has raised around $35 million in debt funding with Tennenbaum Capital Partners, according to Swedish website Digital. The company also has the option to borrow another $70 million through convertible bonds, the report states. Soundcloud last raised funds in 2014, when it secured a $60 million Series D funding round. Bloomberg reported in July that Soundcloud has 150 million registered users.
SaaS banking platform provider Mambu has raised an EUR8 million ($8.7 million) funding round. CommerzVentures joined Action Capital Partners and existing investors in the round, which the company will use for global expansion. Eugene Danilkis, CEO, Mambu, says: “We are building out the product and onboarding customers in multiple geographies and are excited that this new capital will allow us to deploy faster and better support our global client base as we continue to enable the next generation of banking service providers.”
China-based biopharmaceutical company Zai Lab has raised over $100 million in a Series B financing round led by Advantech Capital. OrbiMed and existing investors Qiming Ventures, Sequoia Capital China, and TF Capital all participated in the round. Mr. Jianming Yu, Founder & Managing Partner of Advantech Capital, said, “We are delighted to partner with Zai Lab’s team of industry veterans in this exciting time of rapid growth in China’s healthcare sector. Dr. Du and her team are building a world-class company. We are pleased with the progress they have made and see significant potential in Zai Lab.”
Biotherapuetics company Zymeworks has closed a $61.5 million Series A mezzanine financing round. BDC Capital and Lumira Capital led the round, and were joined by previous backers Eli Lilly and Company, Celgene, CTI Life Sciences Fund, and the Fonds de solidarité FTQ and new investors Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital, Merlin Nexus and others. “This financing provides Zymeworks the capital and resources to move multiple potentially game-changing therapeutic candidates not only into the clinic, but through to meaningful clinical inflection points,” said Dr. Ali Tehrani, President and Chief Executive Officer of Zymeworks. “Furthermore, this financing adds the experience of seasoned U.S. and Canadian biotech investors, and demonstrates the support of our existing strategic and institutional investor base as we look forward to the next stage in our growth and evolution as a leader in the field of bispecific and multivalent antibody therapeutics.”