Hello Fintech Friends,
We previously hosted two sets of fintech geographic deep-dives online in November ‘20 and March ‘21. Would people want to join another round? Let me know!
Our prior deep-dives:
- Australia (presentation, recording)
- Africa (Call transcript, presentation)
- Australia (presentation, recording)
- Canada (presentation, recording)
- China (part one, part two, recording)
- Europe (Call transcript, presentation)
- India (Presentation)
- Latin America (Call transcript, presentation)
- Middle East & Africa (presentation, recording)
- Southeast Asia (presentation, recording)
- US (Call transcript, presentation)
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.
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💸 Venture Financing
- Pine Labs, an Indian creator of a payments terminal, raised $600 million at a $3 billion valuation.
- Bunq, a Dutch neobank, raised a €193 million Series A.
- Clearco, a Canadian revenue-based financing platform for online companies, raised $215 million (just weeks after its last $100 million round at a $2 billion valuation).
- Younited Credit, a French automated credit decisioning and document management platform, raised $170 million.
- Pleo, a European spend management and CFO tool for European businesses, raised a $150 million Series C.
- LoanPro, a loan management and servicing software provider, raised a $100 million growth round.
- Unit21, a no-code anti-fraud platform for financial services, raised a $34 million Series B.
- Entera, a startup that provides data to residential real-estate investors, raised $32 million.
- Juni, a neobank for e-commerce and online marketing companies, raised a $21.5 million Series A.
- Willa, a fintech platform for freelancers and the creative economy, raised an $18 million Series A.
- Moneyhub, a UK open banking platform, raised $18 million.
- Mintable, an NFT marketplace, raised $13 million from strategic investor Ripple.
- Canopy, a technology provider for accounting firms, raised $11 million in funding.
- Toqio, a white-label open banking startup, raised a $9.4 million seed.
- AREX Markets, a Spanish and UK-based embedded lending and accounting provider, raised an €8.8 million Series A.
- Lidya, a Nigerian small business lender that recently expanded to Europe, raised an $8.3 million pre-Series B.
- Zerion, a decentralized finance investing platform, raised an $8.2 million Series A.
- Smile Identity, a pan-African KYC and identity solution for financial services providers, raised a $7 million Series A.
- British in-store payment service provider PayPoint made a £6.6m strategic investment in delivery company Snappy Group.
- XCLAIM, a bankruptcy claim financing company, raised a $6.6 million seed.
- Coast, a payments platform for trucking fleets, raised a $6 million seed round.
- Glint, a UK gold-based payments system, raised over £3 million in crowdfunding.
- Z1, a Brazilian neobank for teenagers, raised $2.5 million.
- DigiKhata, a Pakistani small business accounting software, raised a $2 million seed.
- StepEx, a UK student income-share agreement platform, raised a £1.1 million pre-seed.
- Yalla Xash, a Moroccan money transfer platform, raised $675,000 to expand internationally.
- UK neobank Revolut is reportedly raising between £750 million and £1 billion.
- Perennial fintech banking partner Cross River Bank is raising $200 million at a $2.5 billion valuation.
- UK cross-border payments company Wise, formerly known as Transferwise, completed the largest direct listing in UK history, ending the day up 10% at an $11 billion enterprise valuation, well above $6-7 billion market expectations.
- Stripe, the US online payments monolith, hired a law firm to help it prepare for an IPO that will likely value it over its last private valuation of $95 billion.
- Blend Labs, the digital banking transformation provider, set terms for its upcoming IPO at a valuation of nearly $4 billion.
- Paytm, the Indian online payments monolith, plans to file for IPO (which is called a Draft Red Herring Prospectus in India) this month at an expected Rs16,600 crore ($2.23 billion) valuation.
- Kakao Pay, South Korea’s e-commerce payment provider, plans to raise around $1.4 billion in its upcoming IPO in August.
- Preston Hollow Community Capital, a lender for socially-conscious local community projects, filed for IPO.
- Bridge Investment Group, a real estate investment manager, filed for a $300 million IPO.
- Circle, a payments and treasury software solution for firms looking to compliantly manage cryptocurrencies, will go public through a combination with the Concord Acquisition SPAC at a $4.5 billion valuation.
- Armada Acquisition, a fintech-focused SPAC, filed for a $150 million IPO.
🤝 M&A - Fintech
- In an interesting deal, Malaysian airline AirAsia will buy the Thailand-based assets of Indonesian financial superapp Gojek for around $1 billion.
- Google acquired Japanese cashless payments provider Pring for between $180 million and $270 million.
- Private equity firm Sun Capital acquired digital mortgage software LoanLogics for between $50 and $100 million.
- Sovos, a tax software provider, acquired Portugal-based accounting and invoicing companies PetaPilot and Saphety.
- Swedish buy-now-pay-later startup Klarna is potentially sizing up its Australian rival Zip (a publicly-traded firm) for acquisition, having acquired 4% of the A$160 million lender.
- Indian payment gateway PayU is reportedly considering an acquisition of business payments provider BillDesk for between $3 and $4 billion.
🏦 M&A - Bank
- Japanese bank Sumitomo Mitsui will buy a controlling stake (74.9%) in Indian lender Fullerton India Credit Co. for $2 billion.
- CaixaBank, Spain’s largest bank, will sell two businesses from its recently acquired rival Bankia to Global Payments for €277 million.
💲 M&A - Investment Management
- US investor services firm American Stock Transfer & Trust Company will sell to private equity firm Siris Capital for $630 million.
- Private equity firm Genstar Capital will acquire a majority stake in investment advisor Foreside Financial Group.
Leaders from banks, credit unions and investors are already confirmed - join these faces in Miami this September for two days of high-quality, in-person meetings. No keynotes. No panels. Just business. See who is already confirmed and apply to join here.
🌎 Fintech Around the World
📚 Deeper Reads
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