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The Front Page of Global Fintech

The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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BNY, Mastercard, and Goldman bet big on fintechs (TWIF 12/2)

BNY, Mastercard, and Goldman bet big on fintechs (TWIF 12/2)
Paul Newman raising a toast in Venice, Italy, 1963

Hello Fintech Friends,

@twif.tok

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Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)


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📊 Stat of the Week

The UK suspects that £1.41 billion of its £77 billion in pandemic loans were made to fraudulent borrowers. (Source)

Nearly 75% of UK banks claim to already be using generative AI. (Source)

💸 Venture Financing

Augmentum Fintech claims that fintech valuations are finally beginning to stabilize for the first time in a while.

  1. Alpheya, a UAE-based wealth management technology platform for asset managers in the Middle East, raised $300 million from backers including bank BNY Mellon.
  2. Paysend, the UK international money transmitter, raised $65 million from Mastercard.
  3. Candex, a startup that helps businesses with procurement, vendor management, and payments, raised a $45 million Series B in a round led by Goldman Sachs.
  4. CapitalOS, a B2B spend management provider, raised $39 million.
  5. Scapia, an Indian travel credit card startup, raised a $23 million Series A.
  6. Mozaic, a collaborative payment-splitting app for creators, raised a $20 million Series A.
  7. PayGround, a healthcare payments platform, raised a $19.7 million Series A.
  8. Crezco, a workflow builder for collecting bill payments, raised a $12 million in Series A.
  9. VersiFi, a digital assets trading and lending platform, raised a $10 million Series A.
  10. PhiCommerce, an Indian omnichannel payment solutions provider, raised a $10 million Series A1.
  11. Coinchange, a decentralized finance trading and yield app, raised $10 million.
  12. iPeakoin, a Singaporean neobank building on crypto rails, raised a 'nearly' $10 million Series A.
  13. Enfuce, a European card-as-a-service provider, raised €8.5 million and revealed that it processes €2 billion annually on its cards.
  14. Valid8, a forensic accounting solutions provider, raised an $8.5 million Series A.
  15. DoorFeed, a platform for investment funds to assemble and manage large-scale portfolios of apartments and houses, raised a €7 million seed extension.
  16. MYX, an Asian crypto derivatives protocol, raised a $5 million seed round at a valuation of $50 million.
  17. Acctual, a crypto accounts payable and accounts receivable automation app, raised a $3.85 million seed round at a $15 million valuation.
  18. Wind.app, a self-custodial, smart contract wallet with business payments, a virtual bank account, and on/off-ramp, raised a $3.8 million pre-seed.
  19. Aptus.AI, a European compliance management app, raised a €3 million pre-Series A.
  20. WealthOS, a cloud-native WealthTech provider, raised a £2 million seed round.
  21. CheckRewards, a UAE cashback provider, raised $1.2 million.
  22. Conduiit, a fintech for film and television productions, raised a $1 million pre-seed.
  23. Prosper, a UK platform to maximise its members’ long-term wealth potential, raised a £3.2 million angel round.
  24. Banxware, a German embedded lending provider, raised strategic funding from UniCredit.
  25. Flow48, a UAE-based small business lender, raised a $25 million mix of equity and debt.
Crezco


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