Late-stage fintech multiples are climbing back up to 2-3x revenue (TWIF 11/12)

Late-stage fintech multiples are climbing back up to 2-3x revenue (TWIF 11/12)

Hello Fintech Friends,

We’ve noticed from our own investing that pre-seed valuations are coalescing around $5-15M, while seed rounds are slightly broader at $12-25M. Obviously, there are a few outliers in both directions (as evidenced by some of the rounds below…)

Is this consistent with what others are seeing?

As we start planning for 2023, we’re looking at our global events list. What city should be bring our fintech meetups to next?

Please find another week of fintech financing events below.


If you’re an early-stage startup founder raising equity or debt, we may be able to help - come check out our fund, The Fintech Fund (including a link to pitch us) and see our primer on how we make introductions to friendly VCs and debt providers.

Are you a fintech angel investor? Come join our syndicate.


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💸 Venture Financing
  1. Yassir, an Algerian superapp that offers services including payments, ride hailing, and delivery, raised a $150 million Series B.
  2. Hopper, a travel points and booking app that embeds into credit card UIs, raised $96 million in funding from Capital One.
  3. Vesttoo, a risk-transfer program for underwriting insurance, raised an $80 million Series C from Santander spin-out Mouro.
  4. Ramp, a UK-based crypto payments on- and off-ramp provider, raised a $70 million Series B.
  5. Laika, a security and compliance platform primarily for financial institutions, raised a $50 million Series C.
  6. Mendel, a Mexican provider of financial management products to companies, raised a $50 million Series A extension.
  7. Archax, a UK digital asset exchange licensed by the Financial Conduct Authority, raised a $28.5 million Series A.
  8. Agrolend, a Brazilian agricultural lender, raised a $27 million Series B.
  9. Fordefi, an institutional-grade security and smart contract transparency provider for DeFi, raised an $18 million seed round.
  10. Tellus, a startup that offers consumers 3.8-4.5% on their savings by investing in real estate, raised a $16 million seed round.
  11. Ping, a digital payments wallet for Latin America, raised a $15 million seed round.
  12. Blnk, an Egyptian instant consumer credit startup, raised $12.5 million in equity and $20 million in debt.
  13. Savvy Wealth, a wealth management app builder, raised an $11 million Series A-1.
  14. Archy, a payments provider for dental offices, raised $10 million.
  15. Doola, a banking and credit-building provider for international founders who start US LLCs, raised $8 million.
  16. Yave, a Mexican embedded mortgage lender, raised a $7.5 million seed round.
  17. Altar, a payment automation API interface for European banks, raised a €5 million seed.
  18. Texture, a Solana DeFi yield manager, raised $5 million.
  19. Cherry, a payment and invoice tracking provider, raised a $4 million seed round.
  20. Chip, a UK money management app, raised £3 million in a crowdfunding round.
  21. Troop, a platform to enable easier retail investor participation in proxy voting, raised a $4.3 million seed round.
  22. Amber, a Singaporean crypto trading exchange, is raising around $100 million at a flat $3 billion valuation (walking back an original $10 billion valuation).
💰 Venture Funds
  • Quona Capital, an emerging markets fintech investor, closed an oversubscribed $332 million fund (originally targeting $250 million), with 75% of the firm’s existing LP base participating.
  • The founders of European crypto exchange Bitpanda set up a venture capital firm to back the industry.

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Pssst - if you like early-stage fintech investing, come join our angel syndicate.