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Hello Fintech Friends,
The energy was electric at our Lusaka Fintech Meetup last night!
Thank you to our friends at Peach Payments, Lupiya, and ChitChat for sponsoring - and as always to our great Head of African Community Wiza for hosting.
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Thank you Lusaka for all the love @twifintech @onchitchathq @Lupiyaloans @PeachPayments pic.twitter.com/cq4joB8HVy— Wiza Jalakasi (@wizaj) November 3, 2023
Next up: In just two weeks, we'll be coming to Cape Town for our last Africa fintech event of the season.
Working on planning yet another @twifintech fintech happy hour in CPT on 16th Nov!
If you're keen to collaborate on sponsoring, please pop me a mail via wiza✉️https://t.co/DDvfQt9Jq6
As a reminder, sales for our Lusaka event on 3rd Nov are still on: https://t.co/O7bbfIB6vx pic.twitter.com/ggXXWgqLPr— Wiza Jalakasi (@wizaj) October 24, 2023
Thank you to Fifth Third and Nasdaq for sponsoring today's post!
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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
"Open Banking has been adopted by 68 countries globally, with the majority electing for a regulatory-led approach." (Source)
"More than a quarter of Brits are now using buy-now-pay-later." (Source)
💸 Venture Financing
QI Tech, a Brazilian banking-as-a-service provider, raised a $200 million Series B.
Tabby, a Saudi Arabian buy-now-pay-later provider, raised $200 million in Series D funding.
Atom Bank, the UK-based consumer neobank, raised £100 million at a £362 million valuation (down from £435 million last year).
Arteria AI, an AI-enabled documentation processing provider to financial institutions, raised a $30 million Series B.
Railsr, the UK-based embedded finance provider that recently came out of bankruptcy, raised $24 million in new funding.
Payroll Integrations, a SaaS product for building financial wellness tools, raised a $20 million Series A.
Finkargo, a global sourcing, trade services and embedded financing for Latin America, raised a $20 million Series A.
Charlie, a neobank focused on transforming financial services for the 62+ year old community with features like anti-fraud protections, raised a $16 million Series A and $7 million in debt.
Accelex, a UK provider of AI automation for private markets data acquisition, raised a $15 million Series A.
Radius, an agent-centric real estate brokerage platform, raised a $13 million Series B.
Verqor, a Mexican lender to the agricultural sector (screenshot below), raised a $7.5 million pre-Series A.
Preczn, a financial services Command Center that specialises in vertical SaaS platforms, raised $6.8 million.
EarlyBird, a financial and investment gifting platform for kids, raised a $4.5 million seed round.
FERO Payment Science, a Dutch online checkout startup, raised $3 million in seed funding.
Zilch, a UK-based buy-now-pay-later provider, raised strategic funding from eBay at a $2 billion valuation.
Monzo, the UK neobank, is in talks to raise up to $300 million in new funding.
Bitstamp, a European crypto exchange, is looking to raise $50 million in new funding.
Kroo, a self-described "socially conscious" digital bank with £765 million in deposits, launched a crowdfunding campaign to raise funds.
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An interesting paper - this research from April '23 suggests that banks tend to outperform in their fintech investments, compared to VCs, with a higher IPO exit rate.https://t.co/yI3IZ8RdtH
The causal explanation is that banks' outperformance is driven by three factors:
(1)… pic.twitter.com/VdR5O0T1Yt— Nik (@NikMilanovic) October 30, 2023
💵 Debt Financing
Supply chain financing provider Twinco Capital secured a €50 million credit facility from BBVA.
