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💸 Venture Financing
- Monzo, the UK neobank, announced a new $500 million funding round at a $4.5 billion valuation amid growing revenues.
- Tipalti, an accounting automation software, raised a $270 million Series F at an $8.3 billion valuation.
- Mambu, a German core banking platform for Europe, raised a €235 million, a Series E at a €4.9 billion valuation.
- WeLab, a Hong Kong-based neobank, raised a $240 million round in order to buy out Bank Jasa Jakarta, an Indonesian commercial bank.
- Incode, an omnichannel biometric ID provider to banks and fintechs, raised a $220 million Series B.
- Pleo, a developer of corporate card and expense management tools, raised $200 million at a $4.7 billion valuation.
- 1inch Network, the creator of the eponymous decentralized exchange, raised a $175 million Series B to broaden its offering to bank clients.
- Lydia, the French financial services marketplace that recently added crypto trading, raised $100 million.
- Rho, a builder of SMB corporate spend, cash management, and banking solutions, raised a $75 million Series B.
- Clara, a Latin American corporate card provider, expanded to Brazil and raised a $70 million Series B.
- TRM Labs, a blockchain intelligence and compliance platform, raised a $60 million Series B from backers including Visa, AmEx, Cit, PayPal, and Block (Square).
- Hometap, a home equity financing platform, raised $60 million.
- Nearside, a small business-focused neobank (formerly known as Hatch), rebranded and raised a $58 million Series B.
- Enfuce, a Finnish card-as-a-service platform, raised a €45 million Series C.
- TradeDepot, a pan-African commerce and buy-now-pay-later lending provider, raised $42 million in new equity and $68 million in debt.
- Pento, a UK payroll automation platform, raised a $35 million Series B.
- Paradigm, a no-fee liquidity network for derivatives traders, raised a $35 million Series A.
- Stacked, a developer of passive tools for retail investors in crypto, raised a $35 million Series A.
- Hummingbird, an all-in-one compliance tooling platform for financial services, raised a $30 million Series B.
- Yassir, an Algerian app that is building banking and payments on top of ride-hailing, raised a $30 million Series A.
- Posh Technologies, an AI call center platform for financial institutions, raised a $27.5 million Series A.
- MAJORITY, a neobank for immigrants, raised a $27 million Series A.
- Resolve, a business-to-business buy-now-pay-later provider that spun out of Affirm, raised $25 million.
- Plum, a European personal finance manager, raised a $24 million Series A.
- Cassini Systems, an analytics platform for the derivatives market, raised $20.5 million.
- Stride Funding, a student loan provider, raised a $12 million Series A.
- Tulipshare, a UK platform activist retail investing, raised a £8.15 seed round.
- Zeta Markets, a defi exchange for futures and options, raised an $8.5 million round.
- FlyFin, an AI tax and CPA engine for freelancers and the self-employed, raised $8 million in seed funding.
- Burrata, a developer of identity devtools, raised $7.75 million from investors including Stripe.
- fonYou, an international payments developer, raised €7 million from backers including Santander.
- Sympl, an Egyptian buy-now-pay-later provider, raised a $6 million seed round.
- TabTrader, a Dutch mobile aggregator of crypto exchange data, raised a $5.8 million Series A.
- Arch Labs, an alternative asset investment platform, raised a $5.5 million seed round.
- Kwara, a Kenyan credit union core banking platform, raised a $4 million seed round to build a neobank app.
- CinetPay, a payment gateway for Francophone Africa, raised $2.4 million in seed funding, including from Flutterwave.
- Asilimia, a Kenyan mobile money transaction service, raised $1 million in equity and $1 million in debt.
- Belvo added Visa as a strategic investor to its Series A.
- Tradeshift, a platform for supply-chain finance, raised $200 million in combined equity and debt.
- Brazil’s Nubank, as expected, had a blockbuster IPO, closing up 15% on its first day of trading at a nearly $50 billion market cap to make it the most valuable publicly-traded neobank.
- Corcentric, a payments and accounting tech provider, will go public through a merger with North Mountain Merger Corp at a $1.2 billion valuation.
🤝 M&A - Fintech
- The London Stock Exchange is acquiring portfolio optimization platform Quantile for £274 million.
- Stripe acquired OpenChannel, which helps businesses build app ecosystems for third-party developers.
- Dock, a Visa-backed Brazilian financial infrastructure provider, will acquire Mexican card processor Cacao Paycard Solutions.
- PracticeTek, a healthcare payments solution provider, was acquired by Lightyear Capital.
- UK embedded fintech provider Rapyd acquired Hong Kong-based SMB cross-border trade platform Neat.
- Kazakhstani brokerage Freedom Holding will acquire US trading firm MKM Partners.
- KYC / AML platform Jumio will acquire identity platform 4Stop.
- Wealth management platform FNZ will acquire financial institution client onboarding provider Appway.
- Binance Asia Services took an 18% stake in Southeast Asian private securities exchange Hg Exchange.
- Fintech SaaS business Numerated will acquire financial analysis app Fincura.
- Issuer-processors Paymentology and Tutuka are combining to create a new payments and card processing business.
- $2 billion market cap payments and invoicing solution Bottomline Technologies is looking for a buyer.
🏦 M&A - Bank and FinServ
- Dutch financial services conglomerate Intertrust agreed to a €1.8 billion takeover bid from corporate services firm CSC.
- British fund manager Liontrust Asset Management will buy rival Majedie Asset for £120 million.
- Greek bank Eurobank will sell 80% of its merchant acquiring business to French payments firm Worldline.
- Australian bank Westpac will acquire personal financial management app MoneyBrilliant.
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