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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.

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This Week in Fintech (10/16)

This Week in Fintech (10/16)

Hello Fintech Friends,

Fintech startups raised $4.5 billion in combined equity this week.

This doesn’t even include the CRED, Flutterwave, and Slice $100mm+ rounds in which the final amount is still undisclosed. There were 42 total equity raise announcements.

Elsewhere and much less excitingly, I did an AMA with the team at Heyday.

Please find another week of fintech financings and exits below.

Editor’s Note: If you’re an early-stage startup founder raising equity or debt, I may be able to help - reach out to

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💸 Venture Financing

  • GoodLeap, a solar roof and green home financing platform, raised $1 billion.
  • MoonPay, a payments on-ramp for cryptocurrency investing, is raising $400 million at a $3.4 billion valuation.
  • Celsius Network, a decentralized earning and lending protocol, raised $400 million.
  • Bolt, an online one-click checkout provider, raised $389 million at a $6 billion valuation.
  • Global Processing Services, an API-based payments and embedded finance platform, raised $300 million.
  • TradingView, a financial information API, platform, and social network, raised $298 million at a $3 billion valuation.
  • Tripactions, a corporate employee expense management startup, raised $275 million at a $7.25 billion valuation.
  • Trumid, an electronic credit trading platform, raised $208 million.
  • Swile, a French payment card for employee benefits, raised a $200 million Series D at a $1 billion+ valuation.
  • Interfirst Mortgage, a mortgage originator, raised $175 million in a superheated homebuying market.
  • Tala, an emerging markets microlender, raised a $145 million Series E from backers including Upstart and Stellar.
  • Halo Investing, an investing platform for structured notes, annuities, and buffered ETFs, raised a $100 million Series C.
  • Open, an Indian neobank, raised a $100 million Series C.
  • ZoneBilling, a NetSuite billing technology provider, raised a $76 million growth investment.
  • Alviere, an embedded finance startup, raised $70 million (a $20 million Series A and $50 million Series B).
  • Beacon, a custom trading and risk management solution, raised a $56 million Series C.
  • Juni, a Swedish e-commerce banking provider, raised a $52 million Series A.
  • M2P Fintech, an Asian financial API infrastructure provider, raised a $35 million Series C.
  • Fount, a South Korean roboadvisory investor, raised $33.4 million.
  • Ramp, (the other ramp) a Polish fiat to crypto on-ramp, raised a $30 million Series A at a $300 million valuation.
  • Atomic, a payroll API, raised $22 million in Series A funding.
  • Nelo, a Mexican buy-now-pay-later company, raised $20 million.
  • Productfy, an embedded financial services platform for fintechs, raised a $16 million Series A.
  • FrankieOne, an ID and fraud management service for fintechs, raised A$20 million ($16 million).
  • Xpansiv, an ESG commodities marketplace, raised $15 million from Commonwealth Bank of Australia.
  • Mono, an African open banking API provider, raised a $15 million Series A.
  • MagicCube, a chip replacement provider for mobile payment terminals, raised $15 million.
  • Mondu, a German B2B payments company, raised $14 million in seed funding.
  • Lendflow, an embedded small and medium business lender, raised a $10.8 million Series A.
  • Pagos, a payments intelligence infrastructure, raised $10 million in seed funding.
  • Chari, a Moroccan business-to-business payment and commerce startup, raised a $5 million seed.
  • Niro, an Indian consumer lending startup, raised $3.5 million in seed funding.
  • Sparkle, a Nigerian neobank, raised $3.1 million.
  • Klasha, a Nigerian cross-border commerce and payments API, raised $2.4 million in seed funding.
  • Ejara, a Cameroonian investing and crypto trading platform, raised $2 million.
  • SUMA Wealth, a financial management app for young Latino users, raised a $2 million pre-seed.
  • Perch, a Canadian real estate investing platform, raised a $1 million seed round.
  • Payday, a “PayPal for Africa,” raised a $1 million pre-seed.
  • CRED, an Indian credit card rewards startup, is raising a new round of funding at a $5.5 billion valuation.
  • Flutterwave, a Nigerian financial infrastructure provider, is raising funds at a $3 billion valuation.
  • Slice, an Indian credit card issuer, is reportedly raising over $100 million.
  • Finbourne, a UK financial data management startup, raised strategic funding from the London Stock Exchange.

Forge Global Inc. also launched a new fund, D/XYZ, which raised $100 million for its first investment portfolio and aims to list it publicly as a closed-end exchange-traded fund for retail investors.

💵 Debt Financing

  • Atome, an Asian buy-now-pay-later platform, raised $500 million in (committed) lending capital from Standard Chartered.
  • Ampla, an embedded lender for consumer brands, raised a $250 million credit facility from Atalaya Capital Management.
  • Lendable, which provides debt financing to fintech startups across emerging markets, is raising a further $100 million.

☯️ Exits

💻 IPOs
  • Personal financial advice and product marketplace NerdWallet filed for a US IPO on the back of strong earnings (including a 32% jump in revenue).
  • AvidXchange successfully raised $660 million in its IPO.
  • Australian neobank Judo Bank is looking to raise A$653 million in its IPO at a valuation around A$2.3 billion.
  • Enfusion, an investment management software provider, set terms for a $300 million IPO that would value it around $1.9 billion.
  • AvidXchange,
  • P10, an alternative asset investment management software provider, began its IPO roadshow.
  • Green Visor Financial Technology Acquisition, a fintech SPAC, filed for a $150 million IPO.
  • Finnovate Acquisition, an Israeli fintech SPAC, filed for a $150 million IPO.
🤝 M&A - Fintech
  • SumUp, a European point of sale provider, acquired customer loyalty startup Fivestars for $317 million in cash and stock.
  • Vroom, a UK car-buying e-commerce platform, acquired auto lender United Auto Credit Corporation for $300 million in cash.
  • finova, a UK core banking solutions provider, acquired mortgage and savings software BEP.
  • Danish neobank Lunar acquired payments gateway provider Paylike.
  • Goodlord, a UK property tech firm, acquired acasa, a fintech platform for tenant household bills.
  • Financial data platform FactSet acquired portfolio monitoring provider Cobalt Software.
  • European blockchain company R3 acquired stablecoin issuance platform Invo.
🏦 M&A - Bank

Bank mergers are on-track to hit their highest level since (ominously) the financial crisis.

  • American banks Umpqua and Columbia Banking are combining in a merger valuing the combined bank at $5.1 billion.
  • Capital One is acquiring boutique investment bank TripleTree.

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🌎 Fintech Around the World

British Business Bank’s Regions and Nations Tracker 2021

UK banks plan to grow partnerships with fintech firms in wake of pandemic

Brazil’s Central Bank Built a Mobile Payment System With 110 Million Users

Why WhatsApp payments failed to click in India

Regulating African Fintech Space: Promoting Innovation Or Stifling Growth

Sub-Saharan Africa mobile financial services use triples in 6 years (Paywall)

📚 Deeper Reads

Neobanks, and Investment Platforms Stepping Into Crypto – Should Crypto Exchanges Be Concerned?

Open Source Is Finally Coming to Financial Services

Traders phone up gambling helplines as game-like broker apps spread

How fintech can bridge the credit gap for first-time borrowers

BaaS served three ways: A closer look at a rapidly evolving market

The eNaira Project

A Servicing Health Check (October 2021)

Fintech, adoption growing even after pandemic

The 2021 McKinsey Global Payments Report

Dog Always Brings A Leaf To 'Buy' Himself Treats At The Store

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