Hello Fintech Friends,
Ledgebrook led this week’s raises with $200 million for its AI-powered specialty insurance platform. Mortgage-servicing software provider Valon followed with a $150 million Series D at a $2.3 billion valuation.
In other notable raises, Capitolis raised $120 million at a $1.9 billion valuation. Tokenized cash-management provider Spiko secured $90 million, and Stuut raised $52.5 million to automate billing and payment collection.
In debt financing, Fundbox and EarnIn secured facilities totaling $325 million. Among venture firms, Union Square Ventures raised $900 million across two funds, and Endeavor Catalyst closed a $320 million fifth fund.
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Stat of the Week
Crypto gambling platforms are expected to handle $571 billion in wagers worldwide in 2026, rising to $1.3 trillion by 2035, according to Juniper Research. Gaps in traditional banking access and gambling regulation are driving adoption in emerging markets, the report said.
Venture Financing
Ledgebrook, an AI-powered specialty insurance platform, raised $200 million in equity financing co-led by Allianz X and Rockefeller Capital Management.
Valon, an AI-powered mortgage-servicing software provider, raised $150 million in a Series D at a $2.3 billion valuation, with backing from Ribbit Capital and Andreessen Horowitz.
Capitolis, a capital-markets technology provider, raised $120 million in a Series E led by Citi at a $1.9 billion valuation.
Spiko, a provider of tokenized cash-management funds, raised $90 million in a Series B led by NEA.
Stuut, an AI platform automating billing and payment collection, raised $52.5 million in a Series B led by Insight Partners.
Trustly, an open-banking payments platform, secured binding equity commitments exceeding $40 million from Nordic Capital and Alfvén & Didrikson for a raise expected to close in November.
Meanwhile, a provider of bitcoin-denominated life insurance, raised $37.5 million in funding led by Bain Capital Crypto. The company’s backers include Sam Altman.
TrueLayer, a European open-banking payments platform, raised $27 million in funding led by CDP Venture Capital.
finmid, a German embedded-lending platform, raised about $19 million (€17 million) in a Series A extension backed by Big Pi Ventures, Mainset and Earlybird. The company was launched in 2021 by former N26 executives Alex Talkanista and Max Schertel, with backing from N26 co-founder Max Tayenthal.
Navra, a platform connecting traditional investors with blockchain-based lending and securities markets, raised $19 million in a Series A led by Ribbit Capital. The company is led by Figure and SoFi co-founder Mike Cagney.
Noah, a stablecoin payments infrastructure provider, raised a $16 million seed extension.
Kontempo, a Mexican B2B payments and trade-credit platform for industrial businesses, raised $10.5 million in a Series A co-led by Portage and IGNIA.
Cleavr, a French AI platform automating invoice collection, raised about $8.9 million (€8 million) in seed funding led by Varsity.
Konsileo, a U.K. commercial insurance broker with its own technology platform, raised about $6.6 million (£5 million) in equity financing.
Polygrade, an AI claims-management platform for the warranty industry, raised $6.3 million in funding.
Comparables.ai, an AI market-intelligence platform for dealmakers, raised $6 million in seed funding.
PlannerPal, an AI workflow platform for financial advisers and wealth managers, raised $6 million (£4.3 million) in funding.
Nettle, an AI platform helping commercial insurers assess property risks, raised $4.8 million in seed funding.
Peppermint, an AI financial-operations platform for clinical research teams, raised $4.7 million in seed funding led by Moxxie, with participation from Homebrew, Better Tomorrow Ventures and other backers.
Agentiq Sports, a platform allowing fans to invest indirectly in professional athletes’ careers, raised a $4 million in funding round led by defy.vc.
Indemni, a freight risk-management and insurance platform, secured $4 million in funding from Field Ventures and Diagram Ventures.
NeoFleet Capital, a platform financing professional taxi fleets in emerging markets, raised $4 million in pre-seed funding.
IMMIX, a trading firm providing foreign-exchange infrastructure for stablecoin payments, raised $3.5 million in funding.
Iridium Credit, an AI invoice-verification platform for lenders, raised $3 million in funding co-led by Field Ventures and MGV.
HyperLink, a prime broker for decentralized trading platform Hyperliquid, raised $2.5 million in funding.
One Trading, a regulated European derivatives exchange, secured an undisclosed strategic investment from Nasdaq Ventures.
OKX, a cryptocurrency exchange, secured an undisclosed strategic investment from Circle, Qube Research & Technologies, Ripple and Standard Chartered’s SC Ventures at a $25 billion pre-money valuation.
Awayday, a U.S. vacation-rental manager, received an undisclosed private equity investment from Warburg Pincus to provide liquidity to existing shareholders.
Deadline Extended: One More Week to Nominate Your 2026 Changemakers
Due to the flood of submissions over the past few days (and more than a few requests for extra time), we’re keeping the nomination window open for one final week.
You now have until Friday, October 16 to put forward the builders, platforms, and investors who drove lasting, positive change in fintech this year..
We’re recognizing honorees across five distinct categories: Big Companies, Startups, Founders, VCs & Investors, and Social Good / Nonprofits.
Winners will be announced live at our year-end Fintech Formal on Dec. 11 in New York.
Debt Financing
Liquid Compute, a marketplace for AI computing capacity, launched a $250 million secured financing facility with K8 Capital to fund customers’ computing-capacity deposits.
Fundbox, an embedded small-business lending platform, secured a $175 million asset-backed warehouse facility from MA Financial Group.
EarnIn, an earned-wage access and payroll platform, secured a $150 million warehouse facility from an unnamed Canadian financial institution.
Capitolis, a capital-markets technology provider, secured debt financing alongside a $120 million Series E to support its acquisition of eSecLending.
Venture Funds
Union Square Ventures raised $900 million across early-stage and opportunity funds to back technology companies, with an expanded focus on AI.
Endeavor Catalyst closed an oversubscribed $320 million fifth fund to back entrepreneurs across its global network.
PSV Tech closed a €56 million ($62.7 million) second fund to back Nordic startups at the pre-seed and early stages across AI, software and digital infrastructure.
Fuel Ventures secured a £10 million ($13.2 million) commitment from the British Business Bank to support early-stage investments and follow-on funding for U.K. technology companies.
