Hello Fintech Friends,
Women-led startups received just 2.3% of venture funding in 2020. VC friends, how do we change this?
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
- Bolt, a checkout provider, raised a $333 million Series D at a $4 billion valuation.
- Soldo, a European business expense management platform, raised a $180 million Series C.
- Employment Hero, an Australian payroll provider, raised a A$140 million Series E.
- Spendesk, a French corporate spend management startup, raised €100 million.
- Vestwell, an investment and retirement platform, raised $70 million from backers including Wells Fargo, Morgan Stanley, Goldman Sachs.
- Titan, a retail investing platform, raised a $58 million Series B at a $450 million valuation.
- Yapily, a UK open banking infrastructure provider, raised a $51 million Series B.
- Properly, a Canadian real estate home-buying and selling platform, raised $35 million.
- Lev, a commercial real estate lender, raised $30 million at a $130 million valuation.
- Paystone, a Canadian payment processor, raised C$30 million.
- Paro, a financial expertise platform for businesses, raised a $25 million Series B.
- InDebted, an Australian debt collection provider, raised a A$25 million Series B.
- Dwolla, an online payments platform, raised $21 million.
- Daloopa, an AI financial data extraction tool, raised a $20 million Series A from backers including Credit Suisse.
- Lightico, a financial document collection tool, raised a $15 million Series B from backers including Capital One.
- Anduin, an invoice and billing solution for professional services firms, raised a $14 million seed round.
- Prodigal, a loan servicing fintech, raised a $12 million Series A.
- Esusu, a credit building startup, raised $10 million.
- Artis, a business real-time lending and payment solution, raised a $7 million Series A.
- WhenThen, a no-code payment operations platform, raised $6 million.
- Vincent, an alternative investment search engine, raised $6 million.
- Allocate, a platform to give retail investors access to venture capital funds, raised a $5 million seed.
- Percent, a payments platform for charitable donations, raised $5 million.
- Monarch Money, a new kind of PFM, raised $4.8 million in seed funding.
- WLTH, an Australian digital lending and payments app, raised a $3 million seed round.
- Clim8, a sustainable investment app, raised £2.85 million through crowdfunding.
- GetEquity, a Nigerian startup funding platform, raised a $100,000 pre-seed.
- Klar, the Mexican neobank, raised an unspecified Series B.
- Capchase, a revenue-based financing platform, raised $280 million in debt and equity.
- Zilch, a UK buy-now-pay-later provider, raised £80 million in combined debt and equity from Goldman Sachs.
- Drivewealth is in the process of raising an up to $400 million Series D.
💰 Venture Funds
- i80 Group, a credit provider to startups, has quietly provided over $1 billion in debt capital to fintech lenders.
- Sequoia is coming to Latin America to invest in fintech.
- South Korean neobank KakaoBank raised $2.2 billion in its IPO.
- Robinhood is looking to raise up to $2 billion in an IPO that could value the company at anywhere from $13 to $40 billion.
- MeridianLink, which provides back-end software to banks and fintechs, set terms for a $300 million IPO.
- Riskified, an online payments fraud platform, filed for an IPO that could value it at $3 billion.
- UK neobank Monzo could potentially be considering an IPO soon.
- UK consumer credit company NewDay may be planning an IPO.
- PayLink Direct, a payment service provider, will merge with vehicle protection plan platform Olive and go public through the MDH Acquisition Corp SPAC.
🤝 M&A - Fintech
- Visa announced that it will acquire cross-border payments provider Currencycloud, valuing the business at £700 million. (What will Mastercard’s response acquisition be?)
- Online billing and back-end accounts receivable giant Bill.com will acquire competitor Invoice2go, in a stock and cash transaction valued at approximately $625 million.
- Buy-now-pay-later provider Klarna bought German discount shopping app Stocard for €113 million.
- When minnows eat sharks: international transfer cryptocurrency Stellar Foundation is eyeing an acquisition of legacy remittances provider MoneyGram.
- Latin America’s PicPay acquired Brazilian financial solutions provider Guiabolso.
- Financial reporting software provider insightsoftware acquired APAC rival CALUMO.
- European KYC startups Onegini and iWelcome announced their merger.
- Vodafone could spin off Kenyan mobile money powerhouse M-Pesa.
💲 M&A - Investment Management
- Canadian financial services holding company Great-West Lifeco acquired Prudential's retirement investing business for $3.5 billion.
- Lightyear Capital in the UK announced that it will acquire Wren Sterling Financial Planning.
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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