The road to Ninh Bình, Vietnam. (p/c Sarah Hoffman)
Hello Fintech Friends,
The fintech fundraising market is showing signs of life in-spite of the doom-and-gloom of 2023 💪
We’ve had an exciting week at The Fintech Fund, with fund portfolio company Vault announcing its follow-on seed round from our friends at Fin Capital and Gradient, and syndicate portfolio Percent announcing its follow-on Series B from White Star Capital.
We're also excited to partner with Antonella Kamien and the Amazon Web Services team to bring 15 exceptional Israeli and UK fintech founders to New York next week.
Thank you to Andreessen Horowitz, Stripe, Insight Partners, Greylock, Visa, PayPal, Tiger Global Management, QED Investors, Citi, and others for joining us.
And a special thank you to Outpost Ventures, Company Ventures, and Emigrant Bank for hosting us.
👍👎 Have feedback for us? Let us know!
Please find another week of fintech financing events below.
AWS Corner, from our Partners at Amazon
How machine learning helps Fraud.net to build a modern app on AWS to combat financial fraud.
Startups know firsthand how better technology can improve the quality of life: From
allowing scientists to better predict patient health outcomes, to
driving life-saving innovation, and
enhancing accessibility.
With better technology also comes the opportunity for criminals to commit more advanced levels of crime. Fraud, especially, is occurring with
as society transitions into a digital-first world. Fraud and cybercrime are also growing at significant rates, and now cost businesses around the world over
or an average of 5% of their revenues.
To outpace and outsmart the technology criminals use to commit fraud, former bankers Whitney Anderson and Cathy Ross founded Fraud.net, amodernfraud and compliance platform, in 2016. Fraud.net offers customers in the banking and fintech industries across the globe a serverless
that uses
and
to rapidly identify fraud, leading to more efficient operations and higher customer satisfaction.
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If you’re an early-stage startup founder raising equity or debt, we may be able to help - come check out our fund, The Fintech Fund (including a link to pitch us). Are you a fintech angel investor? Come join our syndicate.
💸 Venture Financing
Zip, the procurement-to-payment platform (not to be confused with the BNPL platform of the same name), raised a $100 million Series C at a $1.5 billion valuation.
Smart, a UK employee pension monitoring and management startup, raised a $95 million Series E.
M-KOPA, an African asset financing platform, raised $55 million in equity and $200 million of debt capital to lend out.
WeFox, a German insuretech, raised a $55 million second close in its Series D at a $4.5 billion valuation from a credit facility of the same amount both from JPMorgan and Barclays.
River, a bitcoin financial services provider, raised a $35 million Series B.
Percent*, a private credit investing marketplace, raised a $29.7 million Series B.
Odsy Foundation, a nonprofit developer of crypto wallet security solutions, raised $7.5 million in seed funding.
Jenfi, a growth-capital-as-a-service and revenue-based financing platform in Singapore, raised a $6.6 million pre-Series B.
AxisPay, an Egyptian digital payments platform to the North African market, announced its bank license from the Central Bank of Egypt and an $8.25 seed investment.
Bloom Finance, a Canadian home equity financing startup, raised a $7 million Series A.
Azteco, a provider of vouchers for small amounts of bitcoin for everyday use, raised $6 million in seed funding.
Vault*, the only all-in-one online banking platform for Canadian small businesses, raised a $5 million seed round.
SaveMoneyCutCarbon, a sustainability-focused money-saving platform, raised £5 million in growth funding.
Jia, a blockchain-based lender to small businesses in emerging markets, raised a $4.3 million seed round and a $1 million commitment of on-chain liquidity.
PYOR, a Bangalore-based data and insights platform for digital assets, raised $4 million in seed funding.
Asymmetry Finance, a staking protocol for digital assets, raised a $3 million seed round.
Amlyze, a financial crimefighting app, raised a $1 million pre-seed.
Hands-In, a payments startup that lets groups split the bill at online checkouts, raised $550,000
HashKey, an Asia-based digital asset financial services group, is looking to raise between $100 and $200 million.
This week for the Fintech Frontlines, we highlight @kbrowne_, investor at @NewarkVc. Kiswana spearheads NVP’s fintech practice and is a local leader in the New Jersey startup ecosystem.
Congrats on the recognition, Kiswana! pic.twitter.com/tHKIEagO4f— This Week in Fintech (@twifintech) May 18, 2023
pic.twitter.com/QNf5d53ZJt— Alex (@CallMeGillette) May 18, 2023
📢 Help us connect with the best fintech people from underrepresented backgrounds by submitting them for our Fintech Frontlines series!https://t.co/aeTETE2vWI— Nik (@NikMilanovic) May 17, 2023
