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The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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Lending to small businesses is big business in China (TWIF 8/5)

Lending to small businesses is big business in China (TWIF 8/5)
The Cheshire Cat, by John Tenniel

Hello Fintech Friends,

🚨 Our friends at Sydecar* are hiring a new Marketing Manager in New York, San Francisco, or Seattle to join their team. Sydecar helps you start and run your fund or SPV — so you can focus on making deals, not spreadsheets.

💼 Speaking of jobs - if you're an engineer, we're hosting a virtual Fintech Job Fair for you, starting September 6th!

Come join other engineers, in our community of 65k+ fintech fans, to find your next opportunity at an amazing company. Want to join? Click the image below. 👇

Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)


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


UK fintech companies raised £1.5 billion in the first half of 2023, a 78% drop from the same period last year, but still a large enough amount to rank second as a country globally. According to KPMG, fintech funding across Europe was hard hit in the first half of the year, with dollars invested dropping from $63.2 billion across 2,885 deals in H2 2022 to $52.4 billion across 2,153 deals in the first half of 2023.

💸 Venture Financing
  1. Micro Connect, a crowd revenue-based financing platform for small businesses in China, raised $458 million at a $1.7 billion valuation.
  2. Tradeshift, a platform for building B2B payments, supply chain procurement and B2B marketplace services, raised $70 million (with $35 million coming from HSBC in the form of a joint venture).
  3. Finda, a South Korean loan comparison platform, raised a $37 million Series C.
  4. Hi, a crypto banking platform (in the screenshot below), raised $30 million.
  5. GlossGenius, a payments and booking platform for beauty businesses, raised a $28 million Series C.
  6. Petal, a consumer credit card issuer that uses cash-flow to underwrite thin credit borrowers, raised $20 million in new equity and secured a $200 million debt facility from Victory Park.
  7. DebtBook, which works with local governments, nonprofits, higher education, and similar organizations to manage debt, leases, and subscriptions, raised $12.5 million.
  8. KnotAPI, a card-on-file-switching and deposit-switching API for financial services providers, raised a $10 million Series A.
  9. Pockit, a UK financial services app for underbanked consumers, raised $10 million in new funding.
  10. Revalue Nature, a UK firm which provides financing and credit for carbon projects, raised $10 million.
  11. Sk3w Technologies, which helps financial exchanges establish access to markets, raised a $7 million Series A.
  12. 40Seas, an order-now-pay-later cross border digital financing solution, raised $6 million in additional seed capital, bringing the total size of the round to $17 million, and raised a $100 million credit facility to finance its customers.
  13. Traction, a Nigerian merchant payments acquiring platform, raised a $6 million seed.
  14. Orbital, a UK fiat and crypto payments platform, raised £5 million.
  15. Emtech, a central bank digital currency-as-a-service platform working with governments, raised a $4 million seed.
  16. MasterExchange, a music royalties marketplace, raised $2.7 million.
  17. Mthmr, a Saudi personal expense management company, raised $1.6 million (6 million SAR).
  18. Financial Information Technologies, a payments provider for the beverage and alcohol industry, received strategic financing from General Atlantic.
  19. Capitaliz, a business valuation platform, raised an undisclosed amount of funding.
  20. Toss, the largest South Korean neobank, is reportedly close to raising a second round of $154 million (after raising $154 million in March), and may raise a third round of $150 million before the end of the year, at a $2.1 billion valuation.
💵 Debt Financing
  • Mercury Financial, a credit card provider for the American middle class, secured a $200 million debt facility.
  • Business cash-flow management provider Settle secured a new $145 million line of credit from Silicon Valley Bank.
  • Small business neobank Novo secured a $125 million line of credit from Victory Park for its new small business working capital product.

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