Hello Fintech Friends,
A few interesting charts this week:
Public fintech earnings are starting to turn positive against expectations pic.twitter.com/LNjax7AJHx— Nik (@NikMilanovic) November 16, 2023
Some entertaining takeaways from the RAISE 2023 Global Summit Data Presentation:
✅ Proprietary communities win
🚫 VCs with social media strategies underperform pic.twitter.com/xsRmuxbAf5— Nik (@NikMilanovic) November 13, 2023
Fintech investors are moving earlier.... pic.twitter.com/KROxSBtsX3— The Fintech Fund (@thefintechfund) November 14, 2023
Takeaways from the RAISE 2023 Global Summit Data Presentation:
👌 Prior experience as a VC has a modest impact on fund TVPI
✅ Prior experience as an operator has a meaningfully positive impact on TVPI pic.twitter.com/aW4lqAQfcB— Nik (@NikMilanovic) November 14, 2023
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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
Due partly to smartphone proliferation, fintech loans to young people in India increased by 100x between 2015 and 2021. (Source)
Meanwhile, fintech lending to small and medium businesses in India is set to surpass traditional lending by 2030. (Source)
💸 Venture Financing

Coverself's healthcare billing platform
Redpin, the owner of payment service providers Currencies Direct and TorFX, raised £140 million.
Blockchain.com, a UK-based crypto financial services platform, raised a $110 million Series E.
Fnality, a UK-based blockchain liquidity management system, raised an €89 million Series B from banks including Goldman Sachs and BNP Paribas.
Imprint, a co-branded card infrastructure provider, raised a $75 million Series B.
Puzzle, a generative AI accounting platform, raised $30 million.
Lynx, a platform for detecting and preventing fraud and financial crimes, raised a €17 million Series A.
CondoConta, a Brazilian banking services provider for condominiums, raised a $14.6 million Series A.
Superstate, an asset management firm modernizing the infrastructure of investment funds, raised a $14 million Series A.
Refine Intelligence, a startup to combat money laundering, raised a $13 million seed round.
Defacto, a French platform that uses AI to automate B2B loans, raised a €10 million Series A extension to enter the German market.
Tenet, an electric vehicle loan service provider, raised a $10 million Series A.
Apiture, a provider of digital banking solutions, raised $10 million.
LXA, a Singaporean provider of credit decisioning and intelligent workflow orchestration, raised $10 million.
Every.io, a provider of bank accounts, corporate cards, bill payments, corporate treasury, HR, payroll, benefits, accounting, and taxes, raised $9.5 million in seed funding.
CFX Labs, a global remittances and payment processing platform, raised a $9.5 million seed round.
CoverSelf, a platform for healthcare claims and payments, raised an $8.2 million seed round.
Levenue, which lets subscription-based companies sell the forecasted cash flow of their existing subscriptions as collateral for non-dilutive financing to institutional investors, raised €8 million and acquired bank transaction enrichment provider Cake.
Pippin Title, a title, tax, and transaction platform for title insurers, banks, and mortgage providers, raised $8 million.
Galactic Holdings, a cryptocurrency exchange platform that caters to seasoned traders in Latin America, raised a $6.25 million Series A.
Solvimon, a Danish app that empowers mid to large businesses to effortlessly operationalise modern pricing methods, raised €9 million.
Tanda, a collective savings and lending network, raised a $4.5 million seed round.
Union Labs, developer of a cross-chain defi bridge, raised a $4 million seed round.
Shekel Mobility, a B2B marketplace and lending platform for auto dealers in Africa, raised $3.2 million in equity and $4 million in debt.
Moflix Group, a European web3 onboarding and subscription billing platform, raised a $3.1 million seed round.
Rho Labs, a decentralized crypto derivatives trading platform, raised a $2.2 million pre-seed.
Kroo, a UK neobank, crowdfunded £1 million out of an expected £70 million fundraise.
Ammonite, a financial advice technology builder, raised £250,000.
BuildMyCreditScore, a startup that enables people to boost their credit scores through debit card spend, received a £200,000 grant from Innovate UK.
Monument, the UK neobank for wealthy accountholders, is looking to raise a £100 million Series C immediately after the completion of a £40 million raise.
I wrote a profile of Jackie Reses, who has done everything from running carnival games on the Jersey Shore boardwalk where she grew up to making a big bet on Alibaba and running Square’s lending business.
Now she’s building a fintech-friendly bank: https://t.co/yPxc9iJVBx— Jeff Kauflin (@JeffKauflin) November 14, 2023
💵 Debt Financing
Mercado Pago, the digital bank of Mercado Libre, received a lending warehouse facility for its Mercado Crédito subsidiary from Citi of $466 million.



