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Juneteenth

The 19th of June has always been a good opportunity to stop and reflect on who we're building for in fintech, and what the goal is. When we say we want to improve financial services, who do we want to improve them for?

The racial wealth gap in the United States has actually been shrinking over time – even in recent years, where household gains in wealth made up for the losses of covid and 2022 – but are still persistent.

Fintech provides us with great opportunities to reach the last-mile customers that banks have traditionally been unable or unwilling to help.

But that opportunity requires intentionality. It means spending time with the people who are underbanked and shut out from the financial services ecosystem, asking why they're underserved today, and figuring out tech-enabled solutions to shrink the quality gap in products they can get access to. Checking accounts, not check cashing. Mortgages, not payday loans.

Please find another week of fintech financing events below.

(👍👎 Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm)

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📊 Stat of the Week

💸 Venture Financing

• Ramp, the corporate expense management and accounting provider, crossed $750 million in annual revenue and raised $150 million at a $16 billion valuation. It was widely speculated that Ramp and its competitor Brex may go public in 2025 – but private markets seem happy to finance the two companies for now.
• Juniper Square raised $130 million in a Series D to expand Junie AI, its new AI copilot for real estate investment workflows.
• Eigen Labs raised $70 million to scale Ethereum restaking infrastructure and launch its EigenLayer token.
• Aspora (fka Vance) secured $50 million to build remittance solutions tailored to the Indian diaspora, aiming to expand from Singapore to North America and the Middle East.
• Payabli raised $28 million in a Series A round to scale its embedded payments and monetization platform for software vendors.
• Jet HR raised €25 million (~$27 million USD) in funding to build its full-service payroll platform for startups and mid-sized companies.
• Farsight raised $16 million in a Series A to develop its AI workflow automation platform for customer onboarding.
• Tensec raised $12 million to build a payment processor for global trade, offering embedded payments and risk compliance tools for international commerce.
• Grifin raised $11 million to grow its “invest-as-you-shop” platform.
• Ubyx (a stablecoin startup founded by a former Citi banker) raised a $10 million seed round.
• Polar secured €9 million (~$9.6 million USD) to enhance its AI-powered customer success platform for subscription-based businesses.
• XFX raised $9 million in seed funding to build cross-border payment infrastructure for emerging markets.
• GrailPay raised $6.7 million to develop a remedial ACH platform aimed at reducing payment failure rates in the U.S. banking system.
• SaturnX raised $3 million in pre-seed funding to build stablecoin infrastructure, focusing on transaction scalability and enterprise integration.
• UBS made a strategic investment in Icon Solutions, a fintech firm specializing in real-time payments infrastructure and low-code solutions.

Unlock safer lending decisions with Method’s Direct Repayment—lenders are cutting losses by 30%+ while approving more with real-time payoff visibility.

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