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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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Global fintech investment dropped 48% in 2023 (TWIF 1/13)

Global fintech investment dropped 48% in 2023 (TWIF 1/13)
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Hello Fintech Friends,

Our friends at Better Tomorrow Ventures are getting ready for their next cohort at accelterator The Mint, "the fintech pre-seed program minted just for you." Check it out here:

the mint
The Mint by BTV: the fintech accelerator minted just for you. Join the most comprehensive and supportive program for fintech founders.

And check out a few more pieces from across TWIF this week:

This Month in Fintech - China (December 23’)
Happy New Year, Fintech friends! I hope you had a wonderful New Year celebration and are ready for a Chinese fintech news briefing! December was not a quiet month: Alipay’s IPO seems to have finally seen some light, and TikTok strikes back in Indonesia with a huge investment. China is
This Week in Policy (1/8)
Hello Fintech Friends, Welcome to another week of fintech policy updates! In this edition, we bring you a curated roundup of the past week’s most pivotal developments in crypto regulation, enforcement actions, central bank digital currencies (CBDCs), decentralized autonomous organizations (DAOs), and open banking. As always, if you are

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

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If you're raising a pre-seed in fintech, thinking about it, or know someone who is, learn more + apply here!

Want to sponsor a newsletter? See our sponsorship information here.

If you’re an early-stage startup founder raising equity or debt, we may be able to help - come check out our fund, The Fintech Fund (including a link to pitch us). Are you a fintech angel investor? Come join our syndicate.

Though the Fintech IPO Index is up 55.7%, only four of the more than 40 names in the index are trading above their offer price.

📊 Stat of the Week

Global investment in fintech nearly halved in 2023 to $51 billion, a decrease of 48% compared to 2022, when total investment amounted to $99 billion. 2023 saw 3973 deals compared to 6397 deals in 2022, according to analyst group Tracxn.

The US saw a 36% decline in funding in 2023 to $18.2 billion.

However, there are still good data! The UAE, defying the trend, saw a 92% jump in fintech funding in 2023 and Scotland’s fintech cluster has seen a 24% increase in jobs since 2021.

💸 Venture Financing
  • Conta Simples, a Brazilian expense management platform, raised a $41.5 million Series B.
  • Zilo, a UK-based asset and wealth management software, raised a £25 million Series A.
  • Solva, a Kazakhstani provider of digital lending products, including revolving credit lines, instalment loans and short-term working capital, raised $20 million as it prepares to transition from a microfinance fintech into an SME-focused bank.
  • Finoa, a German crypto custodian for institutional clients, raised $15 million in funding.
  • Unbox, a Belgian company that allows firms to distribute and track value, cashflows and funding, raised a €12 million Series A from investors including HSBC.
  • Grip Invest, an Indian alternative investment provider, raised a $10 million Series B.
  • OneAdvisory, a wealthtech platform, raised an $8 million seed round.
  • Rivero, a Swiss payment operations and dispute management startup, raised a $7 million Series A.
  • AbbeyCross, a wholesale FX platform focused on emerging market currencies, raised a $6.5 million seed round.
  • Payzli, an end-to-end payment provider that acts as a single source for payment services, raised $6 million.
  • Komunal, an Indonesian lending startup, raised $5.5 million.
  • Maalexi, a dynamic risk management platform for small agribusinesses, raised a $3 million pre-Series A.
  • Pier, an embedded credit originator, raised a $2.4 million seed.
  • Umoja, a DeFi platform for traders to insure their market losses, raised $2 million in funding.
  • Bracket Labs, a volatility trading product for crypto, raised a $2 million pre-seed.
  • Cleva, a Nigerian platform for African individuals and businesses to receive international payments by opening USD accounts, raised a $1.5 million pre-seed.
  • Downpayments, which offers real estate investors interest-free financing, raised $1 million in equity and $31.8 million in lending capital.
  • ProjectPay, a UK-based construction project payment platform, raised £700,000 in grants.
  • Ryft, a UK payments platform, raised an undisclosed amount.

💰 Venture Funds
  • Charley Ma and Mahdi Raza, Plaid and Robinhood alums, raised Exponent, a $75 million fintech fund.
  • Partner Ruth Foxe Blader left Anthemis Group to start a fintech venture firm Foxe Capital.

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BaaS Bank Peer Group Comparisons - FTEs

Pssst - if you like early-stage fintech investing, come join our angel syndicate.