Fintech funding dropped 38% last quarter, but Portugal passed €1 billion raised (TWIF 11/5)

Fintech funding dropped 38% last quarter, but Portugal passed €1 billion raised (TWIF 11/5)

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Global fintech funding dropped 38% quarter-over-quarter through the end of Q3.

Portuguese fintech companies crossed the €1 billion raised mark.

💸 Venture Financing
  1. Arta Finance, the rebranded financial advisory platform formerly known as Arbo (and founded by my old Google Finance team), raised a $90 million Series A.
  2. CloudPay, a cloud-based payroll and payments service provider, raised a $50 million round.
  3. Zest AI, an automaed underwriting startup, raised $50 million from a coterie of banks including CU Direct, Curql, Suncoast Credit Union, Golden1 Credit Union, and Hawaii USA Federal Credit Union.
  4. Plend, an ethical lending platform using open banking data for credit decisions, raised £40 million in seed funding.
  5. Money Fellows, an Egyptian fintech startup digitizing money circles, raised a $31 million Series B.
  6. Loop, a payments platform for the shipping and logistics industry, raised a $24 million Series A (and announced its prior $6 million seed round).
  7. Fintecture, an open banking B2B payments provider, raised a $26 million Series A.
  8. Form3, a cloud-based payments-as-a-service platform, raised €23 million in venture debt to explore acquisitions.
  9. GoCo, an HR, benefits, and payroll solution for SMBs, raised $15 million.
  10. WalletConnect, a digital currency wallet orchestration platform, raised $12.5 million.
  11. Braavos, an Israeli self-custodial smart contract wallet, raised $10 million.
  12. RakkaR Digital, a digital currency custodian powered by Fireblocks, raised $10 million.
  13. FLX Networks, an engagement platform for asset managers, raised $10 million at a $50 million valuation.
  14. Givingli, a digital card and gifting platform, raised a $10 million Series A.
  15. Lama AI, a business banking technology provider, raised $9 million in seed funding.
  16. Haven, a mortgage servicing software provider, raised an $8 million Series A.
  17. Interprice, a capital markets pricing and funding tech provider, raised a $7.3 million Series A.
  18. Retirable, a retirement planning and investing software, raised $6 million.
  19. Thala Labs, a builder of decentralized finance applications on the Aptos blockchain, raised a $6 million seed.
  20. Decentro, a Bangalore-based banking and payments API provider, raised a $4.7 million Series A.
  21. NiftyApes, an NFT lending platform, raised a $4.2 million seed.
  22. Centrifuge, a decentralized finance protocol for real-world assets, raised $4 million.
  23. TAGS Commerce, an instant checkout provider, raised a $3.5 million pre-seed.
  24. Fursure, provider of a pet banking solution, raised a $3 million seed+ round.
  25. iink Payments, a payments network for multi-property insurance claims, raised a $3 million Seed II.
  26. Martian, a wallet for digital currencies, raised a $3 million pre-seed.
  27. Heylo, which provides event organization and payment tools, raised $1.5 million.
  28. Vesto, a treasury management startup, raised a $2.8 million seed round.
  29. ThoughtFocus, a digital financial services provider, raised funding.
  30. Spectral, a web3 source of truth for financial activities, raised funding from Truist.
  31. Partior, a blockchain-based multicurrency payment provider, raised funding from DBS, Temasek and JPMorgan.
  32. Carta, an equity and cap table management platform, sold shares through a secondary sale at an $8.5 billion valuation.
  33. Credit Suisse is hiring banks as it looks to raise $4 billion to shore up its balance sheet.
💵 Debt Financing
  • Remittances platform Wise raised a £300m syndicated debt facility.
💰 Venture Funds
  • The former head of international investing at Ant Group is raising a new $300 million fintech private equity fund.
  • BBVA Mexico launched a digital economy fund focused on web3 businesses.

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