Hello Fintech Friends,
A few new stories from around the TWIF Cinematic Universe this week:
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
Of the 260 companies in the latest YC cohort, nearly 30 of them, or 8%, were classified as fintech. That compares to 10% in the summer of 2023, 21% in the summer of 2022 and 24% in the winter of 2022. (Source)
According to the IMF, banks have been hit with over $12 billion in losses over the last two decades as a result of cyber attacks. (Source)
💸 Venture Financing
FloQast, a provider of workflows and automation for the office of the CFO, raised a $100 million Series E at a $1.6 billion valuation.
Factorial, a Spanish provider of a payroll and HR management platform for global businesses, raised $80 million.
Anrok, a platform for collecting and calculating sales tax, raised a $30 million Series B at a $250 million valuation and disclosed a 260% jump in revenues.
Mezo, a bitcoin "economic layer," which will focus on creating an ecosystem of applications based on users' economic needs, from groceries to tuition, emerged from stealth with $21 million.
Mimo, a financial management platform for small and medium-sized businesses, raised £15.5 million.
Pactio, a British private equity management software start-up, raised an £11 million Series A.
Leasecake, a provider of lease and location management solutions tailored for multi-unit operators, raised a $10 million Series A extension.
Summer, a workplace student loan retirement matching solution, raised a $9 million funding round.
Smartpay, a Japanese provider of installment loans at the point of sale, raised a $7 million pre-Series A round.
Tabs, an accounts receivable automation platform, raised a $7 million seed round.
TaxDown, which helps customers in Spain and Latin America file their taxes, raised €5 million.
OpenTrade, an on-chain institutional lending and yield products platform, raised $3.2 million in seed funding.
TransferGo, a British consumer platform for global remittances, raised a $10 million growth round to expand into Asia at roughly 2x its $200-300 million valuation.
Hapax, a generative AI builder for financial services, raised a $2.6 million seed round.
Bumper, a UK startup that provides car purchase and repair financing, raised a £2 million Series B extension.
Zoth, a liquidity provider across traditional and decentralized finance, raised $2.5 million.
Funding Xchange, a provider of white-label software solutions for banks and lenders, raised a Series B of undisclosed amount from Barclays.
Navi, an Indian startup which offers personal and home loans as well as health insurance to customers, built by the Flipkart founder, is talking to investors about raising between $200 and $400 million at a $2 billion valuation.
💵 Debt Financing
The venture market is still focused on early-stage companies pic.twitter.com/E5RVgBrbWQ— The Fintech Fund (@thefintechfund) April 11, 2024
20% of current rounds are down rounds! (Mostly later-stage) pic.twitter.com/DagTdIzunf— The Fintech Fund (@thefintechfund) April 12, 2024
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