Hello Fintech Friends,
Just three months after raising $750 million at a $44 billion valuation, Ramp is reportedly in early talks to raise another $1 billion at a roughly $60 billion valuation.
Several other fintechs announced nine-figure funding rounds. Split Pay raised $125 million across two rounds, while Celligence and Savvy Wealth each landed $100 million. Kapital added $125 million in equity and debt financing.
Capital also flowed across payments, wealthtech and financial infrastructure, with Latitude, Luminary and Piston among the larger raises. In venture capital news, Pinegrove closed a $1.5 billion fund, while Molten Ventures and Seed Capital raised close to $400 million for investments covering fintech, AI and cybersecurity.
Photo by Nathan Van de Graaf via Unsplash
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Stat of the Week
Visa’s stablecoin settlement volume surpassed a $20 billion annualized run rate, up more than fifteenfold year over year, the company reported this week.
Venture Financing
Corporate card and spend management platform Ramp is reportedly in early talks to raise about $1 billion at a roughly $60 billion valuation, three months after raising $750 million at a $44 billion valuation.
Split Pay, a lending platform that lets renters and homeowners divide monthly housing payments, raised $125 million across its Series A and Series B rounds, led by Khosla Ventures with backing from Thrive Capital and Max Levchin.
Celligence, a Puerto Rico-based developer of AI technology for mortgage and financial transactions, secured a $100 million investment.
Savvy Wealth, a New York-based technology and back-office platform for independent financial advisors, raised $100 million in a Series C led by Halo Fund.
Latitude, a cross-border payments infrastructure startup founded by former Stripe, Uber, Coinbase and Meta executives, raised $35 million in a Series A led by Oak HC/FT.
Luminary, a New York-based wealth-transfer and estate-administration platform, raised $22 million in a Series A led by Ten Coves Capital with backing from BNY.
Piston, a cardless payments platform for commercial fleets and gas stations, raised $15 million in a Series A led by FPV Ventures.
Aqua, an alternative-investments platform, raised $15 million in a Series A led by Arthur Ventures with backing from Alumni Ventures.
Buildcheck, a San Francisco-based provider of AI-powered construction design-review software, raised $12 million in a Series A led by Telescope Partners.
Pearler, an Australia-based long-term investing and wealth-building platform, raised A$16 million ($12 million) in a Series A led by Portage.
Triver, a U.K.-based provider of automated cash-flow financing for small businesses, raised £8 million ($10.8 million) in a Series B led by Calderwood Capital.
Zeal, a payments technology company connecting payment terminals with merchant-intelligence and loyalty tools, raised $10 million to support expansion.
ZeroRisk, a Dublin-based provider of cybersecurity technology for payments companies and merchants, raised $10 million.
Intermezzo, a Menlo Park, California-based provider of AI-native global payroll infrastructure, raised $10 million.
Olenbee, a France-based platform that connects employee benefits directly to workers’ existing payment cards, raised €7 million ($8.1 million).
Antarctic Exchange, a decentralized perpetual-futures exchange focused on larger retail traders, raised $7 million.
Creditstar Group, an Estonia-based consumer-finance and investment company, secured €4.6 million ($5.3 million) in hybrid equity financing.
Sav, a UAE-based personal-finance and wealth platform, raised $3.5 million in a pre-Series A.
Outline, a Paris-based provider of AI-powered financial and corporate-planning software, raised $3 million in seed funding.
Safebox, an India-based platform for tracking and protecting family wealth, raised $1.11 million in seed funding.
Polaris, a permissionless protocol that provides native yield for on-chain assets, raised $1 million in an angel round.
ClaimQI, an Omaha-based provider of AI-powered healthcare claims intelligence, raised just under $500,000 in seed funding.
BrightPlan, an employee financial-wellness platform, closed the first round of its Series C raise.
Carputty, an Atlanta-based provider of embedded vehicle-financing infrastructure, closed an undisclosed Series B.
Moneyball.ai, a San Francisco-based provider of AI-powered deal-marketing software for boutique investment banks, received undisclosed pre-seed funding.
Tanda, an Australia-based workforce-management and payroll platform, received an undisclosed strategic growth investment from Thoma Bravo.
Debt Financing
Kapital, a Mexico-based financial platform for small and mid-sized businesses, secured $125 million in equity and debt financing.
Nomba, a Nigeria-based payments and business-banking platform, secured a $3 million debt facility from CardinalStone Finance Company to expand its Africa-to-Asia settlement network.
Venture Funds
Pinegrove Venture Partners closed its Strategic Investors Fund XII at $1.5 billion, above its $1.25 billion target, to invest through 16 early- and growth-stage venture managers with exposure to fintech, cybersecurity and AI.
Molten Ventures reached a £175 million ($237 million) first close for its new Growth Fund, targeting £350 million, to back Series B and later-stage European companies across fintech, AI, deeptech, space and quantum computing.
Seed Capital closed its fifth fund at €130 million ($152 million) to make initial investments in Nordic fintech, cybersecurity and AI-powered B2B startups.
GCVC launched an undisclosed-size venture fund backed by more than 50 general counsels and Wilson Sonsini to invest in early-stage legal, regulatory and compliance technology startups.
