PhonePe scoops up a whopping $350 million (TWIF 1/21)

PhonePe scoops up a whopping $350 million (TWIF 1/21)
Banksy - Great British Spraycation

Hello Fintech Friends,

Ahhh - 31 new fintech rounds this week; either nature is healing or founders are doing their pre-fundraise process press.

I had to edit the title of this one due to a late monster round from India's PhonePe, which is preparing to spin out from parent Flipkart.

Over across town, I joined the great 11:FS team last week, alongside Jason Mikula, to talk about social media banking and fintech.

Please find another week of fintech financing events below.


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💸 Venture Financing
  1. PhonePe, the Indian mobile payments giant, raised $350 million at a $12 billion valuation, doubling its $5.5 valuation from 2020.
  2. Tabby, the MENA-focused buy-now-pay-later business, raised a $58 million round at a $660 million valuation from backers including PayPal Ventures.
  3. Anyfin, a Swedish loan refinancing platform, raised a €30 million Series C.
  4. Link, a builder of open banking API solutions, raised a $20 million Series A.
  5. PeopleFund, a South Korean peer-to-peer lending platform, raised a $20 million extension to its $63 million Series C.
  6. CyberX, a crypto market-maker, raised a $15 million strategic round.
  7. Parfin, an infrastructure provider offering digital asset custody, trading, and tokenization in Latin America, raised $15 million.
  8. kompasbank, a Danish neobank, raised €12 million.
  9. Splitero, a home equity access platform, raised an $11.7 million Series A.
  10. Goldenset Collective, a platform making equity investments in creator businesses, raised a $10 million seed.
  11. Komunal, a platform that helps rural banks in Indonesia digitize, raised $8.5 million.
  12. Mayfair, a provider of a high-yield business account, raised an $8 million seed round and $2 million pre-seed.
  13. Alkimiya, which builds decentralized capital markets, raised $7.2 million.
  14. Core10, a lending and account opening startup, raised a $6.5 million Series B.
  15. Sika Health, which helps employees with Flexible Spending Accounts (led by a black female founder), raised $6.2 million.
  16. Sprinque, a Dutch B2B payments platform, raised €6 million in seed funding.
  17. Quasar, a Cosmos-based DeFi protocol, raised $5.4 million at a $70 million valuation.
  18. Union Credit, a the first marketplace for credit unions to deliver perpetual credit approval, raised a $5 million seed round.
  19. Sunfish Technologies, a fertility financing platform, raised $3.8 million in seed funding.
  20. Portão, a Brazilian accounts payable platform, raised $3.6 million.
  21. Zitti, a restaurant supply chain and financing startup, raised $3.5 million.
  22. InvestSky, a MENA social investing app, raised a $3.4 million pre-seed.
  23. Suppli, a digital accounts receivable platform, raised a $3.1 million seed round.
  24. Kwara, a Kenyan startup that helps digitize credit unions, raised a $3 million seed extension, acquired the Kenya Union of Savings & Credit Cooperatives’ digital subsidiary, and signed a partnership to reach 4,000+ CUs.
  25. Arch, a platform to provide single loans against dispersed alternative asset holdings, raised $2.75 million.
  26. SphereOne, a cross-chain crypto payments platform, raised $2.5 million.
  27. yeekatee, a German investing social network, raised a $1.9 million pre-seed round.
  28. Transfeera, a Brazilian corporate payments platform, raised $1.3 million.
  29. Bloom, an Aussie climate fintech, raised a $525,000 seed round.
  30. LendInvest, the property finance asset management platform, raised strategic funding from Lloyds Bank.
  31. Fractal Homes, a UK-based fractional home investment platform, raised £30 million in seed funding and debt.

📺
Sponsored Content

Capital strategy will determine the winners and losers of fintech in 2023. To stay competitive, finance leaders need to understand what's on the horizon when it comes to equity and debt capital—and plan accordingly. Download this report from debt capital platform Finley Technologies to understand the latest benchmarks and trends in fintech funding.

Want to sponsor a newsletter? See our sponsorship information here.


Pssst - if you like early-stage fintech investing, come join our angel syndicate.