This Week in Fintech (2/5)

This Week in Fintech (2/5)

Hello Fintech Friends,

Thanks to the Lend Academy team for profiling our new fund this week!

We’re coming to Bogotá on March 23rd 🍻 Sign up here.

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.


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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.


“The Bank for International Settlements, meanwhile, calculates that in the decade between 2010 and 2020, fintech companies attracted more than $1 trillion in new backing.” - Wall Street Journal

“The safekeepers of crypto assets are attracting billions of dollars from investors betting that the influx of Wall Street players into digital markets will lead to a surge in demand for custody services.” - The Financial Times

💸 Venture Financing

  • FTX, the digital currency exchange, raised a $400 million Series C at a $32 billion valuation.
  • Chargebee, a recurring billing platform, raised $250 million at a $3.5 billion valuation.
  • KOHO, a Canadian personal savings and prepaid card startup, raised a C$210 million Series D.
  • Ramp, the corporate card startup, is reportedly raising $200 million at an $8 billion valuation.
  • Trust Machines, a platform for leveraging bitcoin as a settlement layer, raised $150 million.
  • Wayflyer, an Irish lender to e-commerce merchants, raised $100 million at a $1.6 billion valuation.
  • PalmPay, an African payments and financial services app for merchants and consumers, raised a $100 million Series A on the back of 5 million (claimed) users.
  • Tribal *, which is building a suite of b2b payments and corporate banking products - including crypto - for emerging markets, raised a $60 million Series B.
  • Bold, a Colombian digital payments provider, raised a $55 million Series B.
  • Happy Money, an unsecured lending company, raised a $50 million Series D.
  • Mos, a neobank for student loans, raised a $40 million Series B at a $400 million valuation.
  • Jar, an Indian savings and investing app, raised a $32 million Series A.
  • OpenGamma, a firm for analyzing derivatives portfolios, raised $21 million.
  • Codoxo, a healthcare payment integrity provider, raised a $20 million Series B.
  • Bamboo, a Nigerian investment app, raised a $15 million Series A.
  • Ayoconnect, an Indonesian open banking platform, raised a $15 million Series B.
  • First Dollar, a healthcare wallet, raised a $14 million Series A.
  • Circula, a German corporate employee finance app, raised a €12 million Series A.
  • BillHop, a Swedish B2B payments startup, raised a €10.5 million round.
  • Bizi, an Israeli platform for small business credit lines, raised a $7.5 million seed.
  • Nestcoin, which builds web3 apps for decentralized finance in emerging markets, raised $6.5 million in seed funding.
  • Pluto, a corporate card for the Middle East, raised a $6 million seed.
  • CoinLedger, a tax-reporting platform for crypto, raised $6 million.
  • R2, a Latin American embedded lender for small businesses, raised a $5.9 million seed round.
  • LemonEdge, a low-code accounting platform, raised $4 million.
  • ICHI, a Japanese provider of defi tooling, raised $3.5 million.
  • NachoNacho, a fintech platform for… buying Saas? raised $3 million in seed funding.
  • Flexio, a B2B payments platform, raised $3 million in seed funding.
  • Method, which is building one-click debt liability repayment, raised a $2.5 million pre-seed.
  • Pay Theory, a developer of inclusive financial solutions, raised a $2 million seed round.
  • Etcho, a sustainable development goal-linked investment app, raised £279,000.
  • Bold Finance, a low-income personal finance manager for India, raised a pre-seed.
  • SiFi, a Saudi expense management and visibility app, raised a seed round.

💵 Debt Financing

  • Moove, a Nigerian fleet vehicle financing and mobility service, raised $10 million in debt.

☯️ Exits

💻 IPOs & SPACs
  • Zepz - the cross-border currency service formerly known as Worldremit - is prepping for an IPO that would value it at around $6 billion.
  • Prime Number Acquisition I, a financial services SPAC, filed for a $60 million IPO.

(Source: F-Prime Capital)

🤝 M&A - Fintech
  • Private equity firm Advent is considering a $1 billion investment in India’s Yes Bank, which is working with the country’s central bank after facing a run on deposits in 2020.
  • Silvergate Capital, a bank, purchased Facebook’s Diem assets for $182 million.
  • German banking-as-a-service platforms Solarisbank and Contis are merging into one provider.
  • Rapyd, a white-labeled fintech provider, acquired Hong Kong-based Neat, a cross-border trade platform.
  • B2B buy-now-pay-later platform Biller was acquired by Banking Circle Group.
  • German stock settlement system Euroclear acquired a stake in Greenomy to build environmental reporting.
  • Littlejohn & Co. sold cash automation technology Tidel to Sesami Cash Management.
  • Northmill, a Swedish neobank, acquired B2B payments provider Moreflo.
  • Crypto exchange FTX is buying its Japanese rival Liquid to move into Asia.
  • Ethereum group Consensys acquired wallet interface MyCrypto.
  • Block officially completed its Afterpay acquisition.

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🌎 Fintech Around the World

Ghana’s process for adding banking to its biometric card is a flawed one

“It’s a bloodbath”: U.S. companies are pillaging Latin America’s tech talent

2022 Is The Year Emerging Markets VC Comes Of Age.

📚 Deeper Reads

How much control should people have over their financial data?

Diem's Acquisition

F-Prime Published the Fintech Index

Stablecoins - boring yet revolutionary

Cryptocurrency is suddenly everywhere — except in the cash register

Why a Bank for the Super Rich Is Taking Aim at the Younger Merely Rich

Lessons from a fintech founder: Solving for C by going B2B

iPhone Acceptance – Mobeewave Pt 2

How does fintech serve the creator economy?

CBDC or stablecoins: Why traditional banks must adopt a new and adaptable policy

Fidelity, Once Stodgy and Adrift, Bets on the Reddit Crowd

Why Are Minority-Owned Banks Disappearing? Washington Holds the Smoking Gun

Tipping Point for Plastic (Card)?

Dog Missing 5 Years Gives Birth to Surprise Puppy Days After Reuniting With N.Y. Owner


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