Fundraises

Wealthsimple raises CAD $750 million to expand its suite of wealth management products (TWIF 11/1)

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Please find another week of fintech financing events below.

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Stat of the Week

Stablecoin payments have jumped 70% since the signing of the Genius Act in July, with B2B transactions accounting for two-thirds of activity and an average $250,000 transfer size.

Venture Financing

Wealthsimple raised CAD $750 million (~$538 million) to expand its suite of wealth management products across investing, spending and credit, valuing the company at CAD $10 billion (~$7.2 billion).
SavvyMoney raised $225 million to scale its financial wellness platform for credit unions, banks, and fintech companies.
UnifyApps raised $50 million in Series B to connect corporate systems with AI and automate routine tasks such as claims processing.
Pave Bank raised $39 million to build a programmable bank for institutions managing both digital assets and fiat.
Clerq raised $21 million in Series A to build a payments platform for high-ticket transactions across underserved verticals in the U.S.
ZAR raised $13 million to bring stablecoins to Pakistan’s unbanked population.
Jupiter Money raised $13 million to expand its suite of lending products in India.
Uptiq.ai raised $12 million to build AI infrastructure for financial services.
SalarySe raised $11.3 million in Series A to transform financial accessibility for India's salaried workforce.
OneAM raised $4.7 million in seed funding to use AI and machine learning to underwrite fragmented receivables at scale.
Stake raised an undisclosed amount from Property Finder to expand its digital real estate platform in MENA.

Debt Financing

Cylerity raised $4 million in seed funding and secured a $24 million debt facility to build its AI and machine learning models that predicts claim payment timing and reimbursements.

Venture Funds

Viola Credit raised $2 billion for its third asset-based lending fund to provide financing solutions to fintechs across the U.S., U.K., Western Europe, and Australia.