Fundraises

Hong Kong's WeLab Secures $220M from HSBC, Prudential (TWIF 1/24)

Hello Fintech Friends,

From February 23rd to 27th, we'll be in Mexico City for Mexico Fintech Week, culminating in the FinTech México Festival, organized by FinTech México alongside their own FTMX Week.

Here are some of our events you can visit:

Will we see you there?

Please find another week of fintech financing events below.

Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm

Go Restive is back on March 4th in San Francisco! This one-day summit brings together the best early stage tech founders with visionary leaders and investors for a day of connection and community. Go Restive is designed for early stage founders and is free for founders to attend. We want to help you accelerate your network to build even faster.

Apply today!

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News coverage written and provided by Rachel Chang.

Stat of the Week

The Central Bank of Iran has acquired at least $507 million in USDT, the US dollar-backed stablecoin as part of efforts to evade sanctions, according to Elliptic.

Venture Financing

Stream (formerly Wagestream) raised $90 million in series D to expand its product offerings, including pensions and long-term savings in the UK, and accelerate growth in the US through new strategic partnerships and integrations.
Datarails raised $70 million in series C to expand its financial planning and analysis platform across North America and EMEA.
WithCoverage raised $42 million in series B to modernize traditional, commission-based insurance brokerage models.
Benepass raised $40 million in series B to help employers redesign benefits amid rising healthcare costs.
Wint Wealth raised INR 250 crore (~$27 million) in series B to expand its online bond portfolio platform for retail participation across India.
AssetPlus raised INR 175 crore (~$21 million) to expand its wealth management platform focusing on mutual funds.
Project Eleven raised $20 million in series A to build post-quantum cryptography focused on safeguarding digital assets.
Monnai raised $12 million to grow its identity and risk data infrastructure that supports real-time decisioning for financial institutions and digital businesses.
Veera raised $10 million to support development of its crypto payments platform and expand its on-chain financial services.
PhotonPay raised tens of millions of USD series B funding to develop stablecoin-centric financial infrastructure for cross-border commerce.
Meld raised $7 million to expand its infrastructure for accessing digital assets and stablecoins.
Cyb3r Operations raised $5.4 million to close third-party cyber risk gaps for enterprises.
ARKK raised £4.5 million (~$6 million) to scale its financial automation and regulatory reporting platform.
AAZZUR raised £2 million (~$2.7 million) to scale embedded finance for brands and platforms.
Obside raised €500k (~$585K) to scale its automated trading tools for digital assets to all investors.

Debt Financing

WeLab raised $220 million in series D, which combines both debt and equity, from investors, including Prudential Hong Kong, HSBC, and Allianz X, to accelerate expansion of its pan-Asian fintech platform operating digital banks and financial services.

Venture Funds

Social Leverage raised an $85 million seed-stage venture fund (Fund V) to back early-stage startups with a focus on financial services and vertical AI companies.
Portage took over management of fintech assets from Point72 Ventures through a $280 million continuation vehicle backed by Goldman Sachs Alternatives.