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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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Acquisition called off, BitGo raises $100M at a 46% markup (TWIF 8/19)

Acquisition called off, BitGo raises $100M at a 46% markup (TWIF 8/19)
“Close Of Day” Pebble Beach, California

Hello Fintech Friends,

Looking for your next role in fintech? Join us at The Fintech Job Fair (Sept 6 & 7) and meet the teams hiring across the US! Employers, details on joining the Fintech Job Fair & contact info here

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


📺
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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.


📊 Stat of the Week

💸 Venture Financing
  1. TeamShares, a holding company that buys up profitable mom-and-pop businesses, gives employees 10% equity, and is investing in fintech products for them, raised $245 million over a couple rounds.
  2. BitGo, a licensed crypto custodian that recently had its $1.2 billion acquisition by Galaxy Digital called off, raised a $100 million Series C at a $1.75 billion valuation.
  3. ClassWallet, a digital wallet-based purchasing and reimbursement platform for public funds, raised $95 million.
  4. Veza, an app for securing financial identity information across apps, raised $15 million from Capital One at a $415 million valuation.
  5. Helio Protocol, an over-collateralized stablecoin lending platform, raised $10 million.
  6. Dinari, which aims to provide digital tokens backed by real-world assets, raised a $7.5 million seed round.
  7. Boost Capital, a digital onboarding tool for financial institutions, raised a $2.5 million seed round.
  8. CityPay, a Georgian crypto payments provider, raised €2 million
  9. Finofo, a Canadian currency risk mitigation startup, raised $1.25 million.
  10. VegaPay, an Indian lending and card management startup, raised a $1.1 million pre-seed.
  11. Doc2Doc Lending, a personal lending platform for physicians and dentists, raised $35 million in debt and equity.
  12. Ramp, the expense management, accounting, and corporate card provider, is reportedly raising $100s of millions at 'only' a $5.5 billion valuation, a 32% haircut.
  13. Neo Group, an Indian asset management and financial advisory firm, is in talks to raise an investment of up to $50 million.
  14. Doc2Doc Lending, a personal lending platform for physicians and dentists, raised $35 million in debt and equity.

💵 Debt Financing
  • Educbank, a Brazilian education finance platform, raised $14.2 million in lending capital from Itaú BBA.

💰 Venture Funds
  • A £1 billion growth-stage fintech fund launched in the UK this week, backed by Barclays, London Stock Exchange Group, Mastercard, and NatWest. The fund looks to make four to eight investments per year, with investments between £10 million and £100 million.

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