Hello Fintech Friends,
Fintech's comeback era is on display in this week's fundraises: Monzo brought in $400 million at a $5 billion valuation, Indian microfinance lender Svatantra raised $230 million, and Saudi payments firm Salla raised $130 million.
Our portfolio company Argyle,* which offers a unified income and employment verification ecosystem, also announced their $30 million Series C this week.
Elsewhere, Jillian is back with a new monthly interview, this time talking with Karim Atiyeh of Ramp!
Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)
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📊 Stats of the Week
The UK's Centre for Finance, Innovation and Technology claims that open finance could boost the country's economy by £30.5 billion.
And we have new 2024 fundraise data from CommerzVentures:
💸 Venture Financing
Monzo, the British neobank with 9 million customers, raised $400 million at a $5 billion valuation and announced plans to expand back to the US.
Svatantra Microfin, an Indian non-bank lender, raised $230 million.
Salla, a Saudi fintech which offers software for e-commerce firms to build websites and handle online payments, raised $130 million.
Argyle*, builder of a unified income and employment verification ecosystem, announced their $30 million Series C.
Remofirst, a global payroll and HR platform, raised a $25 million Series A.
Yuno, a Latin American payments orchestration provider, raised $25 million at a $150 million valuation.
MoeGo, which provides pet grooming payments and scheduling software, raised a $24 million Series A.
Baanx, a British-licensed crypto payments provider, raised a $20 million Series A.
Synctera, a banking-as-a-service provider, raised an $18.6 million Series A extension.
Harness Wealth, a provider of sophisticated tax tooling for the masses, announced its $17 million Series A extension.
Utila, the builder of a self-custodial crypto wallet, raised $11.5 million.
Theia Insights, an AI-enabled retail investing platform, raised $6.5 million.
Buildnow, a Saudi buy-now-pay-later provider for construction industry materials, raised a $6.5m seed round and $2.9 million of debt.
Lettuce Financial, a democratized accounting and tax services provider, raised a $6 million seed round.
Carputty, an auto financing, purchase, and ownership platform, raised $5 million in equity (and $75 million in debt from SVB).
Agio Ratings, which provides crypto wallet risk analytics, raised $4.6 million across a pre-seed and seed round.
FinanZero, a Latin American credit provider that processed 8 million loan applications in 2023, secured $4 million in a media-for-equity exchange.
Stack, a provider of on-chain points infrastructure for blockchain, raised a $3 million seed.
Ubirider, a Portuguese mobility-as-a-service platform that processes payments, raised a $1.95 million seed round.
LAVA, a Hong Kong-based decentralized lending market built to optimize liquidity across blockchains, raised $1 million.
Sibstar, a debit card and app designed for dementia patients and their families, raised £125,000.
Wagely, an Indonesian fintech that provides earned wage access loans, raised a mixture of equity and debt.
Capstack, a bank-to-bank loan network, received strategic funding from Citi.
Knock, which provides revolving lines of credit and bridge loans, is opening $5 million of an anticipated $15 million fundraise to crowdfunding.
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