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The Front Page of Global Fintech

The 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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Revolut employees to cash out $500M (TWIF 5/25)

Revolut employees to cash out $500M (TWIF 5/25)
Kazuya Morimoto, Rome

Hello Fintech Friends,

The most interesting fundraise news of this week was not a primary but a secondary share offering - Revolut is arranging for employees to cash out up to $500 million in a share sale that CEO Nik Storonsky believes will hit their 2021 valuation of $33 billion. And on the back of £1.7 billion in expected revenues, 40 million customers, and a 45% markup from investor Schroder, it looks like they may get it.

Sharing that story along with 20 new fundraises below.

👉 Separately, I would sincerely appreciate your support to win TechCrunch's Audience Choice for Disrupt this year to talk about the future of embedded finance on-stage with Airwallex!

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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

UK bank fraud losses dropped by 4% last year, but still remained over £1 billion annually (source), while UK taxpayers spent almost 800 years on the phone last year waiting to speak to the country's tax collectors' customer service (source).

💸 Venture Financing
  • Revolut, the global neobank, is lining up a $500 million share sale potentially at its $33 billion valuation.
  • Vitesse, a UK payments and treasury management platform for insurers, raised a $93 million Series C to expand to the US.
  • GB Bank, a British-based small business lender, raised £85 million.
  • Alpian, a Swiss neobank, raised an $83 million Series C, bringing on Italian bank Intesa Sanpaolo as its majority shareholder.
  • Colendi, a Turkish provider of fraud protection, ‘financial passports’ and credit scoring without retaining users’ personal data, raised a $65 million Series B.
  • Agora, a real estate investment management solutions provider, raised a $34 million Series B.
  • Humanity Protocol, a startup that aims to verify people’s online identities in an era of artificial intelligence deepfakes, raised $30 million at a $1 billion valuation.
  • Finout, an enterprise spend management platform, raised a $26 million Series B.
  • Aeropay, a provider of Pay-By-Bank solutions for businesses, raised a $20 million Series B.
  • Majority, an immigrant-focused neobank in the US, raised $12.5 million in additional Series B capital, on the back of 3x revenue growth to $40 million, and $7.5 million in debt.
  • VEDA, a German embedded payroll provider, raised €17 million.
  • Footprint, the provider of a portable digital identity to remove the friction of customer onboarding, raised a $13 million Series A.
  • Traction Ag, a cloud-based accounting software suite built specifically for farmers, raised a $10 million Series A.
  • Teal, an embedded accounting provider, raised $8 million in seed funding.
  • Ember, a British embedded accounting automation provider (screenshot below), raised £5 million.
  • Viable, a UK provider of financial insights to e-commerce brands, raised a $3 million seed round.
  • Tulyp, a French provider of digital trade finance for small businesses, raised a €1.5 million seed round.
  • STRATxAI, an Irish automated consumer investing platform, raised €1.5 million.
  • STON.fi, a leading decentralized automated market maker exchange, announced a previously undisclosed round.
  • Velotix, a machine learning-driven data security platform, raised strategic funding from Barclays.
💵 Debt Financing
  • Capchase, the revenue-based financing provider to software companies, secured a €105 million credit facility warehouse led by Deutsche Bank.

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