Private equity firm Motive Partners raised $2.5 billion for its Motive Capital 2 fund last week.

Motive Capital 2 invests in software and information services businesses in North America and Europe, according to a release. The fund closed above its original hard cap of $1.5 billion with the help of investments from public and private pensions, sovereign wealth funds, foundations, financial institutions, institutional fund managers, family offices and high net worth individuals.

Following the latest funding round, the firm has more than $5.5 billion in assets, according to the release.

“We continue to invest into our distinct operating capabilities, allowing us to identify attractive investment opportunities and support our portfolio companies in the next stage of their growth,” founding partner Bob Brown said in the statement. Brown also leads business development, investor relations, marketing and communications, according to Motive’s website.

X1’s credit card raises $25M before public launch

Following a Series B funding round, credit card company X1 raised $25 million and is now preparing to go public, according to a news release.

Founded by former Twitter executives, the card uses current and future income instead of credit scores to determine eligibility, enabling the company to set higher credit limits, according to the release.

Google Analytics founder Wesley Chan’s new venture firm FPV Ventures led the round. Craft Ventures, Spark Capital, Harrison Metal, SV Angel, Abstract Ventures, the Chainsmokers and Global Founders Capital also joined the latest funding round.

“The credit card industry has long been overdue for disruption, so we set out to build the world’s smartest credit card for a new generation of digital natives like ourselves,” Deepak Rao, co-founder and CEO of X1, said in a statement. “We’ve modernized the entire credit card experience, from limits to rewards to smart tech-driven features, and created a product that consumers truly love.”

German e-commerce startup Charles raises $20M

Armed with $25 million in new financing, the e-commerce startup Charles plans to expand from Germany into European markets to target larger clients, according to a release.

Charles’ business model, which focuses on integrating e-commerce into chat apps such as WhatsApp, allows businesses to sell products and provide customer support in one place, according to the release.

“Rich messaging apps, like WhatsApp, have been proven to facilitate [e-commerce integration] in Latin America and Asia by combining sales, marketing and service in one ongoing conversation,” Charles founder and co-CEO Artjem Weissbecj said in a statement. “This is something e-commerce has failed to do due to the forced marriage of web shops and emails. Conversational commerce is now sweeping over Europe, and there’s never been a better way for brands to wow their customers.”

Salesforce Ventures led the Series A round, with participation from Accel and HV Capital.

Fintech startup SmartBank raises $20M

Japan-based SmartBank raised $20 million in Series A funding, bringing the fintech’s total funding to $30 million, according to TechCrunch.

SmartBank’s digital management service B/43, a personal finance management app, aims to enable individuals to better manage their finances. The app allows users to charge their monthly budget to the app’s integrated Visa card. Expenses are then automatically recorded and visualized, according to the company.

Founded in 2019, SmartBank also provides a joint account for couples, a feature Japanese banks do not offer. The bank plans to launch a service for parents and kids to manage their finances together, according to TechCrunch.

Globis Capital Partners led the round, with participation from Z Venture Capital, Mitsui Sumitomo Insurance Venture Capital and DBJ Capital. Existing investors, including Global Brain and ANRI, also participated in the round.

TomoCredit raises $22M with help from Morgan Stanley

Designed for first-time borrowers, the credit card startup TomoCredit has raised $22 million in a Series B funding round joined by Morgan Stanley‘s Next Level Fund and Mastercard.

The firm utilizes Mastercard’s data aggregation platform Finicity to identify borrowers who don’t have credit scores. With no credit check, no deposit, no APR and no fees, the company targets immigrants and international students with no credit history in the U.S., according to the company’s website.

With the new funding in place, the startup plans to expand into auto loans and mortgages, according to a statement.

“We decided to add more capital for two key reasons. First, we were seeing incredible organic demands in the past two years, and we wanted to hire top talent to keep up with that organic growth. Secondly, we want to take full advantage of the newest consumer trends of avoiding high APR products,” Kristy Kim, co-founder and CEO, said in a statement.

GoldHouse, Asian Hustle Network and Hyphen Capital joined the funding round. Silicon Valley Bank provided $100 million in debt financing. Following the Series B funding round, the company’s total funding amounts to $139 million, according to CrunchBase.

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