The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

Image Description

The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

Image Description

All My Exchanges Live in Texas (TWIF 6/8)

All My Exchanges Live in Texas (TWIF 6/8)
Sarah Jacoby, Bikes

Hello Fintech Friends,

With 30 new fintech and defi fundraises this week, the market feels very alive!

Maybe the most interesting fundraise was not for a 'fintech' at all, per say, but for the The Texas Stock Exchange, a new securities exchange backed by BlackRock and Citadel meant to give corporates an alternate option to the 'perceived non-financial ESG agenda' of the New York-based Nasdaq and NYSE. These businesses are dictated by network effects – marketplaces with more buyers and sellers tend to benefit both sides when they participate – so it remains to be seen whether a de novo exchange works, or whether it goes the way of the IEX or LTSE.

In other investment news, if you didn't see our profile this week of Dynasty's Alessandro Chesser, read on to learn why he believes that every American should have their own trust:

Signals Fintech Founders: Dynasty’s Alessandro Chesser
On building “Morgan Stanley 2.0”, why the average American should have a trust, and what democratizing access to trusts means for the US tax system.

And in interesting secondary fundraise news, equity management platform Carta is reportedly working on a secondary sale for employees that would value the company at $2 billion, a retrace down from its former $6.5 billion valuation.

Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)


📺
Sponsored Content

If you build fintech, this event is for you.

fintech_devcon is a conference made for developers, by developers. Each year, hundreds of fintech builders gather to learn best practices, shortcuts, and industry secrets from actual builders in fintech today. 

Join the best and brightest fintech developers, engineers, product leaders, and founders in hands-on workshops and roadblock talks designed to help builders overcome common hurdles while building amazing things. 

Get your ticket to connect with a community of amazing fintech builders.

August 7-9, 2024 • Austin, TX • See the speaker lineup

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


Are you a fintech angel investor? Come join our syndicate.


📊 Stat of the Week

According to digital identity and fraud prevention solutions provider Signicat, over a third of fraud attempts targeting financial institutions now use AI. (Source)

💸 Venture Financing
  • The Texas Stock Exchange, a new stock exchange backed by BlackRock and Citadel to take on the NYSE and Nasdaq, raised $120 million.
  • Fibe, an Indian digital lending platform formerly known as EarlySalary, raised a $90 million Series E.
  • Nium, a global real-time cross-border payments provider, raised a $50 million Series E.
  • M^0, a decentralized stablecoin minting protocol, raised a $35 million Series A
  • Doconomy, a company that provides financial services players with tools to help their customers measure the carbon footprint, raised a €34 million Series B.
  • Kanastra, which provides a tech-driven back office for private credit funds and securitizations in Brazil, raised a $21 million Series A.
  • Novel, a non-dilutive debt capital provider to founders, raised a $15 million pre-Series A.
  • Sipay, a Turkish company offering offline and online payment services and a wallet, raised a $15 million Series A.
  • Re:cap, a German revenue-based financing startup, raised a $14.6 million Series A.
  • Fizz, a credit-building debit card aimed at Gen Z college students, raised $14.4 million in seed funding.
  • Aperture Finance, a platform that uses AI-driven intents to help DeFi users simplify complex transactions, raised a $12 million Series A.
  • Torpago, a commercial credit card and spend management provider, raised a $10 million Series B.
  • Sifi, a Saudi Arabian corporate spend management platform, raised a $10 million seed round.
  • Fortunafi, a real-world asset tokenization platform, raised $9.51 million across a seed and strategic round, at a $48 million valuation.
  • Sibill, an Italian payments platform for digital-only invoicing, raised €6.2 million.
  • Vegapay, a digital lending and card management platform, raised a $5.5 million seed round.
  • iPiD, a European confirmation-of-payee provider, raised $5.3 million.
  • Mint Blockchain, an Ethereum L2 network for NFT industry, raised a $5 million seed round.
  • Dasseti, an automated data exchange platform for asset managers and allocators, raised a $4.3 million Series A extension.
  • Prósperos, a Latin American remittances app, raised a $3 million seed round.
  • Slip, a UK-based provider of automatic receipt categorization, raised a £2.5 million seed round.
  • Blueberry Protocol, a DeFi prime brokerage, raised a $2.5 million Series A.
  • WealthOS, a cloud-native and API-driven core wealthtech startup, added another £2 million to its seed round from Barclays.
  • Slingshot, which offers a corporate card and management app for creators (shown below), raised a $2.2 million pre-seed.
  • Plural, a platform to connect solar and wind energy developers with investors, raised a $2.3 million pre-seed.
  • 11th Estate, a startup focused on legal claim payouts, raised a $2 million seed round.
  • Light Frame, a startup focused on operations of private banks and wealth management firms, raised a $1.7 million pre-seed.
  • Atlas, a rent payments startup, raised a $1.6 million pre-seed.
  • Old Well Labs, a provider of a software platform for finding and monitoring investment managers and allocators, raised an undisclosed amount for its Series A.
Product imagery of Slingshot.


📺
Sponsored Content

Add instant pay-ins and pay-outs to your product, all delivered through a unified API from Astra.  Risk mitigated, built for scale for earned wage access, merchant pay-outs and instant account funding products.

Find out why top neobanks, trading platforms and lenders chose Astra for their instant payment needs. Visit our website and book a demo to learn more about transforming your user experience with instant payments.

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


Want to invest in the best fintech companies of tomorrow? Come join our syndicate.