Mercury's $200M raise, a $400M fund close, and $700M+ in VC (TWIF 5/23)

Mercury, a business banking platform, raised $200 million in a Series D at a $5.2 billion valuation to continue expanding its financial services for startups and businesses.’

Primer, a U.K.-based payments infrastructure platform, raised $100 million in a Series C to double down on AI capabilities and expand into the US market. 

Moment raised $78 million to expand its AI operating system for investment management, which now supports firms including Edward Jones, LPL Financial, and Hightower Advisors collectively managing more than $10 trillion in client assets.

Scapia, the India-based travel fintech combining credit cards and mobile payments, raised $63 million to expand its product portfolio, pushing its valuation past $500 million.

Fasset raised $51 million to scale its stablecoin-powered banking and cross-border payments platform across emerging markets.

Relay, a banking and money management platform for small businesses, raised $50 million to accelerate growth.

bunch raised $35 million in Series B funding to expand its AI-native fund operations platform for private markets.

Catena Labs, an AI-native bank startup cofounded by Circle cofounder Sean Neville, raised $30 million in a Series A to expand its platform.

Sardine closed a $25 million Series C extension alongside a multi-year National Bank of Canada partnership focused on fraud and risk operations.

Novella, an AI-native wholesale insurance broker that automates back-office tasks to help producers focus on client relationships, raised $21 million to expand across the US.

Eisen, a compliance infrastructure platform, raised $18.5 million.

RemotePass raised $17.4 million in Series B funding to expand its global employment, payroll and spend platform.

Nof1, an AI research lab training frontier models purpose-built for financial markets, raised $15 million to develop autonomous trading agents and launch a consumer platform for markets.

Getquin, a Germany-based digital wealth management platform that lets retail investors track and analyze portfolios across brokers and asset classes, raised €12 million ($13.2 million).

Checker, a digital asset network that offers financial institutions access to stablecoin liquidity and cross-border payment rails, raised $8 million in seed funding.

AEON, a settlement layer for AI agent payments and real-world merchant transactions, raised $8 million in pre-seed funding.

Benji, a universal API for loyalty partnerships, raised $6.25 million in seed funding to expand its integration network across travel, retail, and fintech.

Eleutheria, a Web3 fintech project, raised $5 million in a strategic round with participation from Alpha Capital.

Trackk, an India-based investing platform, raised $3.7 million in seed funding.

Aryze, a Danish fintech providing integrated stablecoin issuance and fiat rail infrastructure for licensed issuers, raised €3 million ($3.3 million) in a pre-Series A.

eVoost AI, an Abu Dhabi-based proptech using AI to help developers predict residential buyer demand, raised €2 million ($2.2 million) to expand.

Guzco, a fraud protection platform that automates chargeback and dispute resolution workflows for e-commerce merchants, raised €1 million (approximately $1.1 million) in a seed round.

LemFi, a cross-border payments platform serving diaspora communities, raised an undisclosed amount from Tether.

Alacriti, a payments infrastructure platform processing over $233 billion in transactions annually across ACH, RTP, FedNow, and other rails, raised an undisclosed growth equity investment.

Powersports lending fintech Octane closed a $350 million forward-flow agreement with Nuveen to purchase fixed-rate installment loans originated by its in-house lender Roadrunner Financial.

National Funding, a San Diego-based small business financing platform, upsized its senior unsecured notes offering to $70 million — up from $55 million — citing strong investor demand, with proceeds earmarked for maturity extension and general corporate purposes.

Uzum signed a $70 million investment loan agreement with the Eurasian Development Bank to expand its fintech business across digital payments, consumer finance and financial services for small businesses and households in Uzbekistan.

Mouro Capital reached a $400 million first close on its third fund, backed by Banco Santander.