Hello Fintech Friends,
For anyone in New York, we’ll be hosting our next fintech happy hour in Soho on June 17th. (We’re also looking for a July venue, so please reach out if you’d like to host.)
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, I may be able to help - reach out to email@example.com.
Is it possible to scale quickly while prioritizing the consumer experience? In 2021, this question is top of mind for many lending organizations, who want to grow quickly while remaining consumer-centric. In TrueAccord's on-demand webinar, Ohad Samet, CEO and co-founder of TrueAccord, and Sahil Bakshi from Affirm will share a comprehensive guide to scaling digital collections operations, all while prioritizing consumer preferences and creating best-in-class consumer experiences.
💸 Venture Financing
- Circle, a stablecoin and cryptocurrency provider building tools for financial services institutions to integrate crypto, raised $440 million from backers including Fidelity.
- Forter, which helps e-commerce payment companies combat fraud, raised a $300 million Series F at a $3 billion valuation.
- Zeta, an Indian banking startup, raised a $250 million Series D.
- Snapdocs, a mortgage lending digital closing platform, raised a $150 million Series D.
- Paysend, a UK mobile payments platform, raised a $125 million Series B at a $700 million valuation.
- SpotOn, a provider of point of sale payment solutions, raised a $125 million Series D at a $1.75 billion valuation.
- Agicap, a French cashflow management platform, raised a $100 million Series B at a $500 million valuation.
- Wayflyer, an Irish revenue-based financing platform like Clearbanc or Pipe, raised a $76 million Series A.
- Resolve, a B2B buy-now-pay-later startup that spun out of Affirm, raised $60 million.
- Super, a subscription home care company, raised a $50 million Series C from Wells Fargo.
- Commonwealth Bank of Australia invested $50 million in online shopping platform Little Birdie and subscription electricity business Amber.
- Stavvy, a mortgage payments startup, raised a $40 million Series A.
- Talos, a digital asset trading platform for financial institutions, raised $40 million, including from PayPal and Fidelity.
- ADDI, a Colombian and Brazilian buy-now-pay-later startup, raised a $35 million Series B.
- Clara, a Mexican corporate spend startup, raised $30 million.
- mx51, an Australian payments-as-a-service startup, raised $25 million from backers including Mastercard.
- Epsor, a French employee savings and financial planning app, raised a €20 million Series B.
- Sentieo, a game-changing AI financial research platform, raised a $20 million Series B.
- Solidus Labs, an asset risk surveillance firm, raised a $20 million Series A.
- Curve, a UK over-the-top card provider, raised £9.9 million in crowdfunding.
- Tilled, a payment facilitator as a service, raised an $11 million Series A.
- CleverCards, an Irish B2B payments business, raised €10 million.
- Verituity, a digital payments platform for bank treasuries, raised a $10 million Series A.
- Axle, a freight financing service, raised a $10 million Series A.
- Leif, a student loan platform, raised $10 million.
- Future Family, a payment plan provider for fertility services, raised $9 million.
- Kodo, an Indian corporate card startup, raised an $8.75 million seed from investors including Brex.
- Tiv, a payments platform for gaming, raised a $3.5 million seed.
- Fraudio, a Dutch payments fraud detection startup, raised $3.3 million in seed funding.
- Stockal, an Indian overseas investing startup, raised a $3 million pre-Series A.
- Mono, a Nigerian financial services API, raised a $2 million seed.
- Park Place Payments, a B2B payment processor, raised a $1.5 million seed.
- BFREE, a Nigerian ethical credit startup, raised an $800,000 seed round.
- JZ Lending Ltd, a holding company that owns Spanish consumer finance specialist Unión Financiera Asturiana (Ufasa), raised money from private equity investor Financial Services Capital.
- Accounting Seed, an accounting and financial management software, received a growth investment.
- iBanFirst, a cross-border payments solution, raised growth equity.
- Klarna is reportedly raising money from SoftBank at a valuation over $40 billion.
- OPay, a Nigerian mobile money service, is reportedly raising $400 million at a $1.5 billion valuation.
- Rumor: Sequoia is leading a round into Ndovu, a Kenyan investing app, at a $9 million valuation.
💵 Debt Financing
- Financial health platform Brigit raised $75 million in debt from Community Investment Management.
- Student loan platform Leif raised $50 million of lending capital.
- BNPL startup ADDI also raised $30 million in debt.
💰 Venture Funds
- PayPal committed an additional $50 million to black and Latinx-led venture capital funds.
☯️ Exits and M&A
- DLocal priced its Nasdaq IPO, set for next week, valuing the company at around $5 billion.
- Paymentus stock popped 40% in its IPO; the company raised $210 million at a $3.4 billion valuation.
- Indian digital payments provider Paytm will IPO this year at a valuation around $3 billion.
- Flywire had a successful US IPO at a $2.8 billion valuation, raising $250 million.
- Czech payments firm Eurowag is planning a $2 billion London IPO.
- UK shareholder and market service provider Equiniti agreed to a £673m distressed takeover bid by private equity firm Siris Capital.
- Stash, the consumer investing platform, is weighing options to go public. It’s last private valuation was $1.4 billion.
- Ebanx, a Brazilian payments provider to Latin America, is prepping for an IPO and looking at acquisitions.
- Irish B2B payments firm CleverCards acquired ExpendiaSmart to pick up a European Money Institution license.
- Social good neobank Aspiration is weighing an IPO.
- Australian buy-now-pay-later firm Zip is entering Europe and the Middle East through its acquisitions of Czech firm Twisto and UAE firm Spotii.
- Hong Kong financial services provider AMTD International plans to spin off its fintech unit as a standalone in a US IPO.
- Mission Lane, the financial health credit startup, acquired Honeydue to build out its financial literacy solutions.
- Merchant payments provider FortisPay acquired rival EpicPay.
- BNP Paribas became a co-owner of loyalty platform Joyn, along with other banks KBC and ING, by acquiring one third of outstanding shares.
- Private equity firm Thoma Bravo made a majority investment in clinical trial payments solution Greenphire.
💲 Investment Management
- Private equity firm Ares acquired real estate investment advisory Black Creek.
- Charlesbank Capital Partners acquired an ownership stake in investment advisor Lido Advisors.
- Acorns will go public through a merger with SPAC Pioneer Merger Corp at a $2 billion valuation.
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