Hello Fintech Friends,
Come see us at our Miami Fintech Happy Hour in Brickell next Wednesday (12/8) at 5:30!
And a huge, huge thank you to our Fintech Formal sponsors for their amazing support these last couple weeks.
- Pre-IPO Sponsors: Cross River Bank and Fiserv
- Series A Sponsor: Power
- Seed Sponsors: Ant Group and Codat
- Pre-Seed Sponsors: Better Tomorrow Ventures and Troop
Please find another week of fintech financings and exits below.
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💼 Open Role Spotlight
Come find your place on the team at the most inspiring fintech startups! Browse open roles on This Week in Fintech’s job board.
💸 Venture Financing
- Slice, an Indian credit card platform, raised a $220 million Series B.
- Bunq, a Dutch neobank, raised a €193 million Series A at a €1.6 billion valuation.
- Thought Machine, a UK core banking platform, raised a $200 million Series C.
- Kueski, a Latin American buy-now-pay-later provider, raised $102 million in equity and $100 million in debt.
- Fundbox, a small business lender and finance platform, raised a $100 million Series D at $1.1 billion valuation.
- Mr Yum, an Australian mobile food delivery and payments platform (...is it really a payments platform? It looks like it just partners with and integrates other payments providers), raised a $65 million Series A.
- PeopleFund, a South Korean peer-to-peer lending platform, raised a $63.4 million (75.9 billion won) Series C.
- Simpl, the Indian buy-now-pay-later service and e-commerce payments provider, raised a $40 million Series B.
- Solutions By Text, a compliant texting platform for consumer finance, raised $35 million.
- Youtrip, a Southeast Asian multi-currency neobank, raised a $30 million Series A.
- Endowus, a Singaporean roboadvisor, raised SGD $35 million.
- Abacum, a financial planning software-maker, raised $25 million.
- Fonoa, digital-first tax compliance business, raised a $20.5 million Series A.
- Structure, a tokenized trading defi platform, raised $20 million.
- Goalsetter, a financial education platform for kids, raised a $15 million Series A.
- Mendel, a corporate spend management solution, raised a $15 million Series A and $20 million in debt.
- Anchor, a B2B autonomous billing solution, raised a $15 million seed round.
- 24 Exchange, a platform building a round-the-clock equities exchange, raised $14.25 million.
- Nudge, a Japanese neobank and credit card provider, raised a $10 million pre-Series A.
- PostEx, a Pakistani SMB financing platform, raised a $7.1 million seed round.
- Butter, a platform that prevents customer subscription payments failures, raised $7 million.
- GajiGesa, a Singaporean earned wage access and payroll platform, raised a $6.6 million pre-Series A.
- Gozem, a Togo-based app that offers financial services (alongside transport and e-commerce), raised a $5 million Series A.
- Busha, a Nigerian crypto exchange, raised a $4.2 million seed round.
- Jump, a payment and benefits platform for French freelancers, raised a €4 million seed round.
- Algofi, a low-cost lending platform built on a stablecoin, raised a $2.8 million seed.
- Jefa, a digital bank account provider for women in LatAm, raised a $2 million seed.
- Bankifi, a mobile banking service, raised £500,000 from Co-operative Bank.
- Nubank lowered its target IPO valuation to around $40 billion.
- Southport Acquisition, a financial software SPAC, filed for a $200 million IPO.
- Online mortgage platform Better received $1 billion of their cash infusion from SPAC acquirer Aurora Acquisition Corp before the deal closed and laid off 9% of their staff.
- Grab shares traded down 20% in the SPAC’s first day of trading.
- Brokerage core provider Apex ended its proposed merger with SPAC Northern Star Investment Corp. II.
- American Express Global Business Travel will go public through a combination with a SPAC owned by private equity firm Apollo for a $5.3 billion valuation.
🤝 M&A - Fintech
- British asset manager abrdn announced that it will acquire investing platform Interactive Investor for £1.49 billion.
- Aqua Finance, a consumer lending platform, will be acquired by private equity firms Athene and Apollo for $1 billion.
- Experian acquired Gabi, an insurance aggregator, for $320 million, and PagueVeloz, a Brazilian payments service, for $33 million.
- Crowdfunding and investing platform Republic announced that it will acquire European private investing platform Seedrs at a $100 million valuation.
- Transunion acquired security and ID verification company Sontiq for $638 million.
- Moody’s acquired European KYC providers Passfort and 360kompany AG.
- Crypto provider CoinShares will acquire French fintech platform Napoleon in order to expand to new markets.
- One-click checkout provider Bolt acquired Tipser, a Swedish platform that enables checkout on any digital surface.
- Arteria AI will acquire the assets of contract lifecycle management platform H4.
- South African fintech platform Crossfin Technology Holdings was acquired by a consortium of investors for ZAR 1.5 billion ($93 million).
- Russian neobank Tinkoff acquired a controlling stake in Jump.Finance, a fintech service that automates interactions with freelancers, including payments.
- Wealth and asset management fintech platform TIFIN will acquire private market advisory firm Qualis Capital.
- Investment operations service provider STP Investment Services acquired administrator Tower Fund Services.
- UK private equity firm CVC dropped its $1.8 billion bid for Dutch financial services provider Intertrust.
🏦 M&A - Bank and FinServ
- Capital One will acquire healthcare-focused investment bank TripleTree.
- Private equity firm Apollo will acquire the wealth-distribution and asset-management businesses of alternative investor Griffin Capital.
Fintech Meetup is the easiest way to meet hundreds of Fintechs like Alviere, BitPay, BlockFi, Certa, MANTL, Nymbus, Signal Intent, Sila, Socure & Zero Hash (to name just a few!), Investors like Bain Capital, Commerce Ventures & Tribeca Ventures, Banks like Bank of America, Citi, J.P. Morgan & Wells Fargo, Neobanks like Dave, Revolut & Varo Bank, Credit Unions representing 13 million members and many, many others! Online, March 22-24. Get Ticket Now
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🌎 Fintech Around the World
📚 Deeper Reads
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