Fundraises

The $500M Ripple effect (TWIF 11/8)

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Please find another week of fintech financing events below.

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Stat of the Week

According to a16zcrypto State of Crypto report, the supply of stablecoins is over $300 billion, with the biggest issuers accounting for ~87% of that supply.

Venture Financing

Ripple raised $500 million led by Citadel and Fortress Investment Group to expand its digital asset platform and stablecoin initiatives, at a $40 billion valuation.
Human Interest raised $100 million, bringing the retirement-tech firm;s valuation to $3 billion.
Lettuce Financial raised $28 million in Series A to accelerate growth of its accounting, payroll, benefits, and tax compliance platform for self-employed solo professionals.
EPIC raised $10 million in Series A to expand its digital loan payoff platform for the automative ecosystem and expand services to powersports and RV markets.
Billd raised $7.3 million to expand early-pay solutions for commercial construction subcontractors.
Grasp raised $7 million in Series A to automate investment banking and management consulting work using multi-agent systems.
SecurePII raised $3.5 million in seed funding to accelerate global expansion for its cloud-native platform for PCI compliance and data privacy infra for banks and fintechs.
Hawala raised $3 million seed to grow its cross-border payments infrastructure in Egypt and emerging markets across MENA.
MidLyr raised $2.5 million pre-seed to expand its operational automation tools for financial institutions.
Zest AI secured a customer-led investment from Citi and credit unions (SchoolsFirst, Members 1st, ORNL & Truliant) to expand its AI underwriting and lending products.

Debt Financing

DealMaker raised $20M in equity and debt to scale its retail capital-raising platform in North America.

Venture Funds

CMT Digital raised $136 million for its fourth venture fund to back founders building infrastructure and apps driving the next phase of crypto adoption.
Ventures Platform raised $64 million for its second fund, with backing from the Nigerian government, to invest across African tech (fintech, health tech, agtech, edtech, and AI).
Veloce Fintech raised ₹300 crore (~$36 million) for its Opportunities Fund to back Indian MSMEs, startups and late-stage real estate projects.