Hello Fintech Friends,
If you’re a fintech angel investor interested in more deals, drop me a note.
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 firstname.lastname@example.org.
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💸 Venture Financing
- GBM, a 35 year-old Mexican stock market investment platform, raised $150 million in new funding.
- Capchase, a revenue-based financing option for companies, raised a $125 million Series A. (The series designation is pretty meaningless at this point…)
- Chipper Cash, a Nigerian payments app, raised a $100 million Series C at a $650 million post-money valuation.
- Yieldstreet, a discovery platform for alternative investments, raised a $100 million Series C.
- Kushki, an Ecuadorian fintech building money transfer infrastructure, raised an $86 million Series B at a $600 million valuation.
- Bench, an accounting platform for small businesses, raised a $60 million Series C and announced the launch of Bench Banking.
- MotoRefi, an auto lending startup, raised $45 million from investors including Goldman Sachs.
- Truebill, a personal financial management app, raised a $45 million Series D.
- Belvo, a financial data API for Latin America, raised a $43 million Series A.
- Synctera, a bank-fintech partnership platform, raised a $33 million Series A.
- Jeeves, a Latin American expense management platform, raised $31 million in equity.
- Divido, a white-label e-commerce retail finance platform, raised a $30 million Series B, including from banks HSBC and ING.
- Jai Kisan, a financial services provider for rural India, raised $30 million.
- Cushon, a UK platform for pension and savings, raised a £26 million funding round.
- Pinwheel, a payroll API for neobanks, raised $20 million.
- PrizePool, a lottery-based savings app, raised a $10 million Series A.
- Impossible Finance, an incubator for new finance and DeFi products, raised $7 million.
- MoneyHash, a financial data and payment API, raised a $6 million pre-seed.
- Sentinels, a Dutch transaction monitoring system, raised a €5.7 million seed round.
- neon, a Switss neobank, raised ₣7 million.
- Tag, a Pakistani digital retail bank, raised a $5 million seed.
- Fintoc, a Chilean open banking startup, raised a $3.1 million seed round.
- Ikigai, a UK wealth management app for affluent millennials, raised £2 million via crowdfunding.
- Clim8, a sustainable investment app, raised £2 million.
- The Beans, a financial wellness platform for teachers, nurses and social workers, raised $2 million.
- Lightyear, a European fee-free investing platform, raised a $1.5 million pre-seed.
- re:cap, a German company that allows businesses to sell their recurring revenues, raised a $1.5 million pre-seed.
- Linus, a high-yield cash account & crypto provider, raised a $1 million seed.
- appsNmobile, a Ghanaian mobile payment solution, raised $1 million.
- Dibsy, a Qatari one-click business payment tool, raised $300,000.
- Socure, a digital identity authenticator, raised strategic funding from Capital One.
- LoginID, a biometric identification and access startup, raised funding from Visa.
- A$AP Rocky invested in Klarna and became CEO for the day.
💵 Debt Financing
- Expense management platform Jeeves raised $100 million in debt.
💰 Venture Funds
- PayPal invested $135 million into credit unions serving black and underserved communities as part of its $535 million commitment to racial equity.
- Architect Capital raised a $100 million asset-based lending fund to give fintech startups an alternative to equity.
- UK payments service provider Rapyd launched its own venture arm to invest in early-stage fintech startups.
- Intersection Fintech Ventures (the investment arm of fintech recruitment firm Intersection Growth Partners) raised a fintech fund and launched.
- Uruguayan payments giant dLocal successfully raised $617.65 in its Nasdaq IPO at a $6 billion valuation (spiking to $9 billion in late trading).
- Marqeta is projecting a valuation of over $12 billion in its IPO.
- SoFi successfully combined with SPAC Social Capital Hedosophia V to list on the public markets. Its shares rose 12%, bringing it to a market cap around $2 billion.
- Etoro and Fintech Acquisition Corp announced their registration for a SPAC merger.
🤝 M&A - Fintech
- Payments platform Worldline signed an agreement to acquire Cardlink, Greece’s largest card network services provider.
- New Zealand-based employment solutions provider PaySauce will acquire payroll software SmoothPay.
- Scandinavian digital identity provider Signicat acquired Strong Customer Authentication expert Encap Security.
- US exchange Nasdaq acquired carbon removal startup Puro.earth.
- Digital ID software provider Mitek acquired voice and face recognition tool ID R&D.
- Quatrro, a financial and accounting outsourcing provider, acquired non-profit Egger Accounting & Business Solutions.
- Private equity firm Silver Lake took a strategic interest in Benelux accounting software Exact.
- Private equity firm Millpond Equity took a stake in college financial aid platform Financial Aid Services LLC.
- Private equity firm York Capital took a stake in financial institution service provider Cennox.
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