This Week in Fintech (3/19)

This Week in Fintech (3/19)

Hello Fintech Friends,

We’re excited to share one of our latest investments from The Fintech Fund into Ponto, which is building the infrastructure for global crypto on/off-ramps and cross-chain trading, and which just announced their $20 million seed round!

Please find another week of fintech financing events below.


If you’re an early-stage startup founder raising equity or debt, we may be able to help - come check out our fund, The Fintech Fund (including a link to pitch us), see our primer on how we make introductions, and reach out to fund@thisweekinfintech.com.


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Fintech startups accounted for 17% of Israeli tech investments in 2021, and 23% of all Israeli IPOs and SPAC mergers.

💸 Venture Financing

  • Cross River Bank, a provider of banking services to the fintech sector, is closing a $300 million round at a $6 billion valuation.
  • Wasoko (fka Sokowatch), an African financing provider to local retailers, raised a $125 million Series B.
  • Moove, an African financing provider for ride-hailing vehicles, raised a $105 million Series A2 to expand into Southeast Asia.
  • Bazaar, a Pakistani developer of fintech solutions for e-commerce brands, raised a $70 million Series B.
  • Multiplier, an Indian platform for remote work payroll, raised a $60 million Series B at a $400 million valuation.
  • Kyash, a Japanese mobile financial app, raised ¥4.9 billion ($41.2 million), from backers including Block.
  • Silent Eight, a Singaporean platform for financial institution compliance, raised a $40 million Series B, including from HSBC.
  • EarnUp, a mortgage management system, raised a $31 million Series C.
  • Encompass Corporation, a UK solution for ID / KYC, raised £25 million.
  • Ponto *, an infrastructure builder for crypto trading and cross-chain money movement, raised a $20 million seed round.
  • Shufti Pro, a KYC / ID provider for financial institutions, raised a $20 million Series A.
  • AcreTrader, an Arkansas farm investing service, added $20 million to its Series B.
  • 4G Capital, a Kenyan lender, raised an $18.5 million Series C.
  • Doxo, an all-in-one bill payment platform, raised an $18.5 million Series C.
  • Treehouse, a firm providing decentralized finance portfolio analytics, raised $18 million in seed funding.
  • Wagely, an Indonesian earned wage access startup, raised $8.3 million to expand into Bangladesh.
  • Stellar, a credit management and improvement app, raised $7 million.
  • Payrails, a German operating system for financial services, raised a $6.4 million seed.
  • Kamino, a Brazilian B2B financial services platform, raised a $6.1 million pre-seed.
  • Onuu, a financial services provider for low-income Americans, raised a $6 million seed.
  • Zitti, a payments platform and credit to radically simplify financial management for small and medium-sized food vendors, raised $4 million.
  • CoinBooks, an accounting software for DAOs, raised $3.2 million.
  • Cake Equity, an Australian cap table provider, raised an A$3 million seed round.
  • Penelope, a retirement and savings provider for SMB employees, raised a $2.1 million pre-seed.
  • Playter, a UK business-to-business buy-now-pay-later firm, raised a $1.7 million seed.
  • Gretel, a service to recover lost financial assets, raised a $1 million pre-seed.
  • Allawee, an African global credit infrastructure provider, raised funding.
  • Floww, a marketplace to connect investors with private companies, raised funds from the London Stock Exchange.
  • Pivo, a neobank for Africa’s supply chain industry, raised a pre-seed.
  • Novel Capital, a revenue-based financing provider, raised $115 million in debt and equity.

💵 Debt Financing

  • DailyPay, an on-demand payroll provider, secured a $300 million revolving credit facility from Barclays.

💰 Venture Funds

  • Japan’s MUFG Bank launched a $300 million fund to invest in Indian startups.
  • Luno, a subsidiary of Digital Currency Group, announced its $200 million Expeditions fund to invest in fintech, crypto, and web3 companies.
  • The Stellar Development Foundation launched a $30 million defi and crypto fund.

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