Hello Fintech Friends,
TBC Bank in Uzbekistan secured a $25 million debt facility this week, only a month after raising $38 million in new equity. The bank is led in-part by former Tinkoff CEO Oliver Hughes, who could run the same playbook that scaled Tinkoff to 17 million customers. Given the success of comps like payments and banking platform Kaspi in neighboring Kazakhstan, which currently trades at a $26 billion market cap, this could be the next global neobank to watch.
Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)
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📊 Stat of the Week
Over 15 million Colombians have registered their cell phone for digital payments; the Transfiya ACH payments system represents a 44% share of the country's banked population. (Source)
💸 Venture Financing
The Miami International Securities Exchange, a national stock exchange with its headquarters in Miami, raised $100 million.
Bridge, which is building a new payments network on stablecoins, raised $58 million.
nOps, which builds software to optimize the budgets that businesses allocate to cloud products and services, raised a $30 million Series A on the back of 450% growth in the last 18 months.
Comun, a digital bank focused on serving immigrants in the United States (shown below), raised a $21.5 million Series A.
Axio, an Indian buy-now-pay-later firm, raised $20 million from strategic investor Amazon.
SatLayer, a Bitcoin-powered restaking platform, raised an $8 million pre-seed.
BSX, a DeFi derivatives protocol that plans to launch a Layer 3 network on Base, raised $6.2 million.
Revenew, a platform to help businesses manage their payments, optimise their margins, streamline business operations, raised $4.55 million.
Magie, a Brazilian AI-powered financial assistant, raised a $4 million seed round and disclosed $5.1 million in total funding.
Linker Finance, a platform that allows community banks to launch their own digital banking apps, raised a $3.7 million seed round.
Peregrine Exploration, developer of a stablecoin protocol called Level, raised $3.6 million.
Stripe, the online payments platform, is proposing another employee seconary sale, this time in which Stripe would use its own cash for the tender offer.
💵 Debt Financing
TBC Bank, an Uzbek neobank and digital lender, raised a $25 million debt facility.
The @danprimack coverage of the investors in Bolt's (attempted) fundraise is so good that I just have to share it in its entirety here:
Bolt Financial is just days away from learning if it persuaded enough investors to sign off on a Hail Mary fundraising round that would…— Nik (@NikMilanovic) August 28, 2024
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