This Week in Fintech (11/13)

This Week in Fintech (11/13)

Hello Fintech Friends,

🎉 We now have a job board! 🎉

If you are hiring, come find the people you’re looking for via This Week in Fintech.

  • Standard job listings cost $300 and run for 30 days.
  • Premium job listings cost $650 and are featured in the newsletter.
  • A-la-carte newsletter listings are still available for $500.

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, we may be able to help - please see our primer for more details and reach out to nik@thisweekinfintech.com.


Sponsored Content

An Online Event that Delivers Real Results? Hell Yeah! Join Fintech Meetup and see for yourself. Get leads, deals, partnerships, funding….you’ll get business done! Meet with fintechs including Akoya, Alliance Data, Alloy, Alviere, Argyle, Autobooks, Azimuth, BitPay, BlockFi, Botdoc, Certa, Checkout.com, Circle, Dave, FISPAN, MANTL, Nuance, Nymbus, Revolut, Ripple, Signal Intent, Sila, Socure, Synctera, Urban FT and many more! Online, March 22-24, startup rate available for qualifying cos. Get Ticket


💼 Open Role Spotlight

Web3 data infrastructure builder 3Box Labs, the developer of Ceramic Network, is hiring a Marketing Lead and a Finance & Ops Lead. Apply now to build the future of the internet from the ground floor.


💸 Venture Financing

  • GoTo Group, the merged entity of Indonesia’s Gojek and Tokopedia, which provides a payments superapp, raised a $1.3 billion pre-IPO round.
  • Socure, a KYC and ID verification provider, raised $450 million at a $4.5 billion valuation.
  • Inspiration, a financing platform for electric vehicles, raised $200 million.
  • Stori, a Mexican credit card app for the masses, raised a $200 million Series C.
  • Zenwork, a tax management and regulatory compliance software, raised $162.5 million.
  • isaac, a Brazilian financing platform for schools, raised a $125 million Series B.
  • JUMO, a South African banking-as-a-service provider, raised $120 million at a $400 million valuation from investors including Visa and Fidelity.
  • Zilch, a UK-based buy-now-pay-later startup, raised $110 million at a $2 billion valuation.
  • Wrapbook, an entertainment industry payroll provider, raised a $100 million Series B.
  • Drata, which manages ISO and SOC certification for financial services firms, raised a $100 million Series B.
  • Alt, which - depending how you look at it - is a marketplace for trading cards or a “remote-first alternative asset investing platform,” raised a $75 million Series B.
  • MFS Africa, a Ghanaian digital payments network, raised $70 million in Series C funding and $30 million in debt.
  • AscendEX, a hybrid crypto - financial platform, raised a $50 million Series B.
  • Atomic, an embeddable investing and trading API platform, raised $25 million.
  • Novata, an ESG rating platform for investments, raised a $21 million Series A.
  • Lendtable, a corporate retirement-matching lending platform, raised an $18 million Series A.
  • Traive, a Brazilian agricultural fintech, raised $17 million.
  • Founders First, a revenue-based financing service, raised an $11 million Series A.
  • Notabene, a crypto compliance startup, raised a $10.2 million Series A.
  • Ziglu, a UK crypto payments app, crowdfunded £7.19 million.
  • Zak, a restaurant payment terminal for Latin America, raised a $15 million Series A.
  • FLOWX, a Romanian infrastructure platform for banks, raised an $8.5 million seed.
  • Payitoff, a student loan debt management provider, raised an $8.5 million seed.
  • Cacheflow, a buy-now-pay-later for SaaS provider, raised $6 million.
  • Zebec Payroll, a Solana-based payroll provider, raised $6 million.
  • Meow, a cash-based bridge between corporate treasuries and crypto, raised a $5 million seed.
  • Udhaar Book, a Pakistani SMB bookkeeping app, raised $6 million in seed funding.
  • Options AI, an options spread brokerage platform for retail investors, raised a $4.1 million seed.
  • Savyour, a Pakistani cashback app, raised $3.3 million.
  • Enzo, a spending and wealth optimization platform, raised a $3 million seed round.
  • Tot, an Italian freelancer and SMB banking platform, raised €2 million.
  • Castor, a Mexican earned wage access and payroll platform, raised a $1.8 million pre-seed.

Over 800 African startups have raised funding in the past three years. (Source)

💰 Venture Funds

  • Digital Horizon is launching its second fund, a $200 million fund focused on fintech.

☯️ Exits

💻 IPOs
  • Expensify gave employees a surprise 10% grant on listing day, which could make all of them paper millionaires.
📈 SPACs
  • Europa Growth Acquisition, a Swiss SPAC targeting European financial services, filed for a $235 million IPO. The IPO soared on the back of the platform’s profitability, raising $263 million.
🤝 M&A - Fintech
  • Private equity firm CVC is in talks to buy out Dutch financial services provider Intertrust for €1.63 billion.
  • Asset manager Abrdn is in talks to acquire UK brokerage Interactive Investor for £1.5 billion.
  • Nigerian payments firm Flutterwave acquired Disha, a platform that allows creators to curate and sell digital content.
  • Australian accounting platform Xero will acquire LOCATE Inventory, a US-based inventory management provider.

Sponsored Content

Who else is joining Fintech Meetup? Everyone! Meet with Neobanks including Dave, Revolut & Varo Bank; Investors including Bain Capital, General Atlantic, Mosaik Partners, Next Level, Point 72 & Vestigo Ventures; Banks including Bank of America, Citi, Goldman Sachs, JP Morgan & Wells Fargo; Credit Unions, Community Banks, Media and more! Online, March 22-24, startup rate available for qualifying cos. Get Ticket


🌎 Fintech Around the World

Africa’s fintech firms vie for domination (Paywall)

Fintech eyes the AfCFTA opportunity for small businesses

Small Business Neobanking in Africa

How economic sanctions drove money transfers in west Africa underground

State of European FinTech 2021

📚 Deeper Reads

Digital Currency Group Wants to Be Crypto’s Standard Oil

Testify Now, Regulate Later: BNPL Goes to Washington

Amazon Takes Venmo…

Amazon / Affirm

Why Current built its core technology in-house

Doberman adopts three orphaned kittens after losing her own puppies


Want to be a This Week in Fintech Sponsor? Reach out to us at sponsor@thisweekinfintech.com.

Have a news item for us? Reach out to news@thisweekinfintech.com.