Hello Fintech Friends,
Is fintech overvalued or undervalued?
Please find another week of financings and transactions below.
Editor’s Note: If you’re an early-stage startup founder raising equity or debt, I may be able to help - reach out to firstname.lastname@example.org.
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💸 Venture Financing
- Mortgage lender Better is raising a $500 million round at a $6 billion valuation from SoftBank.
- Plaid raised a $425 million Series D at a $13.4 billion valuation.
- Indian credit issuance startup CRED raised a $215 million Series D at a $2.2 billion valuation.
- Ramp, the business spend management and CFO solution, confirmed its $115 million raise at a $1.6 billion valuation.
- Banking and crypto services provider NYDIG raised an additional $100 million to launch insurance products.
- Groww, an Indian consumer investment startup, raised an $83 million Series D at a $1 billion valuation.
- TipRanks, an Israeli stock investing financial analytics provider, raised $77 million.
- TrueLayer, the UK open banking platform, raised $70 million in funding.
- StashFin, a Singaporean neobank for Southeast Asia, raised $40 million in new funding.
- Blue Dot, a machine learning business accounting and tax prep platform, raised $32 million in funding.
- Cora, a Brazilian lending platform for SMBs, raised a $26.7 million Series A.
- Financial infrastructure provider Orum raised a $21 million Series A.
- Egyptian online and offline payments startup Paymob raised an $18.5 million Series A.
- Inbox Health, a payments platform for medical patients, raised a $15 million Series A.
- FinanZero, a Brazilian online credit marketplace, raised a $7 million round of financing.
- Financial planning software provider Abacum raised a $7 million seed.
- Spoko, an international money transfer startup, raised €5 million.
- Walnut raised $3.6 million to provide buy-now-pay-later for healthcare.
- Ark, an investment management portal for professional investors, closed a $3.4 million Series A.
- Finary, a social investing platform, raised a $3.2 million seed round.
- Ensemble, a family money management platform for divorced parents, raised $3 million.
- Tred, a UK carbon-tracking debit card, passed its £400,000 crowdfunding target.
- Friz, a Singaporean financial services platform for freelancers, raised an undisclosed amount of pre-seed funding.
- MoneyLion made a strategic investment in Zero Hash to enable cryptocurrency features for its users.
- Greenlight, the maker of a debit card for kids, is raising at a $2 billion valuation.
💵 Debt Financing
- German lending platform Auxmoney raised $250 million in debt from lenders including Citigroup.
☯️ Exits and M&A
- Grab, the Singaporean superapp that provides financial services products across Southeast Asia, agreed to go public through a merger with Altimeter Capital’s SPAC at a $35 billion valuation with a $2.5 billion raise.
- Alkami, the US core banking software platform, is planning a $2 billion IPO with a $150 million fundraise.
- Wealthtech platform Allfunds is planning to list on the Euronext Amsterdam exchange.
- Australia’s EML Payments entered the European open banking market through the acquisition of Ireland’s Sentenial for €70 million.
- Consumer investment app Acorns acquired AI-powered student loan management platform Pillar.
- Wealthtech platform Envestnet acquired personal financial manager Harvest Savings.
- Options Technology, a provider of global capital markets IT infrastructure, acquired Fixnetix, a front-office trading tech provider to banks.
- Online lender Avant acquired credit card provider Zero Financial and its neobank, Level.
- UK employee financial wellness platform Wagestream acquired Australian fintech Earnd.
- CeriFi, a training and education platform for financial services professionals, acquired insurance training platform CPMI.
- Secured financing provider IDS acquired asset finance solutions service White Clarke Group.
- Dutch money transfer platform CurrencyFair is merging with Australia’s Assembly Payments, using a strategic investment from Standard Chartered.
- French bank Société Générale is in talks to sell most of its asset management arm Lyxor to asset manager Amundi for €825 million.
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