Hello Fintech Friends,
Please find another week of fintech financings and exits below.
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💸 Venture Financing
- SpotOn, a restaurant payments provider, raised a $300 million Series E at a $3.2 billion valuation. The company, which has seen 100% year-over-year growth, was valued at $1.9 billion just this May.
- Melio, a B2B payments platform, completed the fundraise we previously announced - $250 million at a $4 billion valuation.
- Papaya Global, a payroll and workforce management platform, raised a $250 million Series D at a $3.7 billion valuation.
- Form3, a cloud-native payments-as-a-service platform, raised $160 million from Goldman Sachs.
- Xendit, an Indonesian digital payments infrastructure provider, raised a $150 million Series C.
- Persona, an identity infrastructure company for financial services, raised a $150 million Series C.
- Pine Labs, an Indian point of sale payments startup, raised $100 million (only weeks after a prior $600 million fundraise).
- Omaze, a fundraising tool for charities, announced an $85 million Series C.
- Abra, a wealth management platform for cryptocurrency investors, raised a $55 million Series C.
- Self Financial, a subprime consumer lender and credit builder, raised a $50 million Series E.
- Billogram, a platform for recurring payments, raised $45 million.
- Sayari Labs, a builder of financial intelligence tools for supply chains, raised a $40 million Series C.
- Pluang, an Indonesian personal wealth-building app, raised $35 million.
- Landed, a home purchase lending platform for essential professionals, raised a $31 million Series B.
- Peach Finance, a loan servicing platform, raised a $20 million Series A.
- PassFort, a UK financial crime KYC/AML platform, raised a $16.2 million Series A.
- Amberdata, a digital assets data company, raised $15 million from Citibank.
- TomoCredit, an alternative credit provider, raised a $10 million Series A.
- Lightyear, a multicurrency investing app, raised $8.5 million.
- Grow Credit, a Black-owned platform that enables users to grow their credit scores from subscription payments, raised $6.3 million.
- Concreit, a global private real estate investment platform, raised a $6 million seed round.
- Sequin, a debit card built for women, raised a $5 million seed round.
- Ascend, a buy-now-pay-later service to revolutionize commercial insurance, raised a $5.5 million seed round.
- Peaks, a Dutch digital investment platform, raised €5 million in growth capital.
- MaxRewards, a digital wallet that manages cards on behalf of users, raised a $3 million seed.
- Integrated Finance, an API infrastructure platform for financial services, raised a £2 million seed round.
- Sprinque, a Dutch B2B digital checkout platform, raised €1.7 million in funding.
- Kashat, an Egyptian microloan platform, raised $1.75 million.
- OurPass, building a one-click online checkout for Africa, raised a $1 million pre-seed.
- ekko, a debit card with a climate twist, opened a crowdfunding campaign.
- Ajaib, an Indonesian brokerage, is reportedly raising $150 million.
- Plum, a UK money management app, is launching a crowdfunding campaign.
💵 Debt Financing
- Coinbase was looking to raise up to $1.5 billion in a bond sale… and ended up raising $2 billion, with $7 billion in demand.
- DivideBuy, a buy-now-pay-later provider, raised a £300 million lending facility.
- Credit score building platform Grow Credit also raised $100 million in debt.
- Finclusion Group, an east African lending startup, raised $20 million from Lendable.
💰 Venture Funds
- SoftBank circled another $3 billion in capital committed to investing in Latin America, a geography where fintech has exploded over the last year.
- Perennial fintech investor QED, one of the older dedicated fintech VCs, raised $1.05 billion across an early-stage and growth-stage fund.
- Fintech megalith Stripe is beginning to discuss a 2022 IPO with bankers that would likely value the company at over $100 billion.
- Restaurant payments service Toast plans to raise up to $717 million at a $16.5 billion valuation in its IPO.
- Remittances platform Remitly plans to raise up to $332 million at a $6.5 billion valuation.
- EngageSmart, a customer management and payment solution, plans to IPO at a $4 billion valuation.
- Clearwater Analytics, a software developer for the investment management industry, is targeting an IPO at a $4 billion valuation.
- Enact Holdings, a mortgage provider, launched an IPO that would value it at $3.3 billion.
- Pagaya, a machine learning second-look lending decisioning company, announced that it will go public through a merger with EJF Acquisition at a $9 billion valuation.
- Forge Global, a marketplace for private company equity and secondary sales, will go public at a $2 billion valuation through a deal with Motive Capital.
- Mercado Libre and venture capital firm Kaszek are partnering to launch a SPAC and acquire a Latin American fintech company.
🤝 M&A - Fintech
- Intuit, the maker of Quickbooks and Turbotax, will acquire email platform Mailchimp for $12 billion.
- TransUnion will acquire identity management and resolution company Neustar for $3.1 billion.
- Swedish private equity firm EQT walked away from its $2.3 billion bid for Australian financial services software Iress.
- Investment bank Goldman Sachs, the owner of neobank Marcus, announced that it will acquire home improvement and healthcare lender GreenSky in an all-stock deal valued at $2.24 billion.
- Restaurant payments platform SpotOn will use some of the funds from its $300 million fundraise to acquire Appetize, a mobile payments platform for entertainment venues.
- Exchange data group ION Markets acquired analytics firm Clarus Financial Technology.
- Online mortgage provider Better acquired UK-based property lending service Property Partner.
- Small business financing and payment platform Qred received a strategic investment form Nordic Capital.
🏦 M&A - Bank
- Montana’s First Interstate bank announced that it will buy South Dakota’s Great Western Bancorp for $2 billion.
- Japanese bank Mitsubishi UFJ is reportedly looking to sell its US arm.
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