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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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Chime at $1.5B annualized revenue with 7M customers (TWIF 5/4)

Chime at $1.5B annualized revenue with 7M customers (TWIF 5/4)
Princess Diana on the Jonikal

Hello Fintech Friends,

We were excited for our friends at Ansa* to announce their latest round, a $14 million Series A (in which The Fintech Fund participated, after backing them at the seed).

Notably, Ansa is a woman-founded fintech company and female investors contributed 95.6% to the round. You can read more about their platform, which helps merchants develop and offer branded virtual wallets, below:

‘Wallet-as-a-service’ startup Ansa raises $14 million with female investors leading the way | TechCrunch
Female investors contributed 95.6% to the Series A round for Ansa, a fintech startup founded by Adyen and Affirm alums.

To our UK friends, we'll be hosting our next Fintech Canal Cruise for London Fintech Week on June 13th with our partners at Evervault! Come join us:

London Fintech Week Canal Cruise w/ Evervault and TWIF · Luma
Calling all fintech folks to cruise on the canals with TWIF and Evervault on June 13th! Who: This Week in Fintech, Evervault and Fintech’s best operators and…
TWIF SF Happy Hour with Streetbeat, Plaid, Finley & CoreVC · Luma
Who: This Week in Fintech, Streetbeat, Plaid, Finley, and CoreVC and Fintech’s best operators, investors, and founders What: SF Happy Hour with an open bar &…
Berlin Fintech Happy Hour · Luma
Who: Our Berlin Fintech Founders, Operators, Partners and Ecosystem Community What: Fintech Happy Hour with light bites Where: Mr. Susan Cocktail Bar When: May…

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

No time to read? Check out our weekly news podcast briefing below!

TWIF News briefing - May 3rd
Listen to this episode from The This Week in Fintech Podcast on Spotify. In this episode of This Week in Fintech, we cover the latest buzz in finance. Our news segment highlights regulatory actions, product launches, and partnerships reshaping the industry. From bank seizures to new payment systems, each story captures fintech’s fast-paced nature. In Fintechionary, we explore neobanks, the digital disruptors changing banking. With a focus on convenience and inclusivity, neobanks are redefining how people manage their money. Our featured article, Signals, dives into SNAP EBT acceptance in online retail. Shardendu Gautam examines the history and potential of SNAP, urging greater inclusivity in digital shopping. Stay tuned for insights on fintech’s trends, innovations, and societal impacts.

📊 Stats of the Week

What slowdown? There were 248 fintech financing rounds ($7.8 billion) and 240 fintech M&A transactions ($70 billion) in Q1 of this year, according to investment bank Royal Park Partners.

New stats also emerged on Brazil's PIX this week:

  • 150 million regular users
  • $400 billion in monthly transactions
  • 3 billion transactions per month
  • Expected to represent 40% of online payments in Brazil in 2026

And on US neobank Chime:

  • 7 million active customers (most with direct deposit set up)
  • 1.5 million monthly customer inquiries
  • 30% revenue growth to $1.3 billion in 2023 (now $1.5B run-rate), with over $1B in gross profit
  • $8 billion in monthly transactions
  • $8 billion valuation (down from $25 billi0n in 2021)

💸 Venture Financing
  • Altruist, a wealth management-as-a-service platform that helps smaller advisories scale their businesses, raised $169 million and increased revenue by 550% in 2023 with 3x AUM growth.
  • Blend Labs, a provider of cloud banking software, raised $150 million, structured as Series A convertible preferred stock; $145 million of the proceeds to repay all amounts payable under its existing credit agreement.
  • Monzo, the profitable UK neobank, expanded its latest fundraise by £100 million (from £400 to £500 million), bringing on two new investors.
  • Ageras, a Danish cloud-based solution built to help businesses with accounting, payroll, banking, finance, and invoicing, raised €82 million earmarked for new European acquisitions.
  • Securitize, a tokenization platform that creates blockchain versions of products like money market funds, public stocks, and fiat currencies, raised a $47 million strategic investment from Blackrock, a customer.
  • Inhabitr, a real estate furnishing platform that offers a financing solution to allow commercial real estate owners to upgrade their properties, raised a $27 million Series B.
  • Lunar, a Danish neobank planning to scale across Scandinavia, raised €24.1 million.
  • Backflip, a buy and sell platform for real estate flipping transactions, raised a $15 million Series A.
  • Ansa*, a startup that helps merchants develop and offer branded virtual wallets, raised a $14 million Series A.
  • Numeric, an accounting automation startup, raised $10 million in seed funding.
  • Backed, a Swiss tokenized asset issuer, raised $9.5 million.
  • X10, a hybrid crypto exchange providing a centralised exchange experience for DeFi, raised $6.5 million.
  • Baselayer, building a credit score for businesses, raised a $6.2 million seed round.
  • Agora, a cross-chain crypto governance platform, raised $5 million in seed funding.
  • BriskPe, an Indian cross-border payments platform, raised $5 million.
  • Volta, a multi-signature, non-custodial crypto platform, raised $4.1 million.
  • Moso, a shop-to-earn platform that merges online shopping with cryptocurrency, raised a $2 million round.
  • Hinkal, a zero-knowledge protocol enabling institutional investors to trade on-chain privately, raised $1.4 million.
  • Birdwingo, a Czech platform to help young people with investing, raised €1.2 million.
  • Monese, a UK checking and money transfer app that was previously exploring a potential shutdown, and XYB, a fintech platform-as-a-service, each secured new funding and will separate from their existing group structure to become two independent businesses.
  • OPay, the Nigerian digital payments provider, had its valuation rise by 30% to almost $3 billion, as it 4x'ed users in 2023.

💰 Venture Funds
  • Gideon Valkin – who had formerly worked at Monzo, ClearScore and Entree Capital raised a $12 million European fintech venture fund, Andrena.
  • Department of XYZ raised a $5.1 million fund to invest in crypto and decentralized finance.

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