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The Front Page of Fintech

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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Uzbek unicorn Uzum sees valuation jump to $1.5B (TWIF 8/9)

Uzbek unicorn Uzum sees valuation jump to $1.5B (TWIF 8/9)
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Hello Fintech Friends,

Please find another week of fintech financing events below.

(👍👎 Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm)


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📊 Stat of the Week

“Mobile-wallet data shows a clear digital money priority ladder: people save first, then spend and send, and only later earn. Stablecoins will follow the same path.”

- Nathan Lenga

 

💸 Venture Financing
  • Blue J, a Canadian AI tax-research platform, announced a $122 million Series D funding to accelerate its legal-tech expansion.
  • Rillet, a U.S. AI-native ERP software company built by accountants, raised $70 million to replace legacy accounting systems.
  • Uzum, Uzbekistan’s first unicorn in e-commerce and fintech, jumped to a $1.5 billion valuation on a $65.5 million fundraise.
  • Capitolis, a capital-optimization fintech for financial institutions, secured strategic investments from Barclays, BNP Paribas, and J.P. Morgan – bringing its round total to $56 million.
  • Stavtar, a spend-management SaaS for complex enterprises, secured $55 million in growth funding.
  • Alaan, an AI-powered corporate card and expense-management platform in MENA, raised $48 million in one of the region’s largest Series A rounds.
  • GeoWealth, a wealth-management technology platform, raised $38 million in Series C funding led by Apollo.
  • Grasshopper, a digital bank for small businesses, raised $46.6 million to fuel its next phase of growth.
  • NG.Cash, a Brazilian teen-focused digital bank, secured $26.5 million in Series B funding led by NEA.
  • Casap, an AI startup tackling payment disputes and fraud, raised $25 million in Series A funding.
  • Saphyre, a fintech building AI-driven trading workflow software, received $70 million in backing from FTV Capital.
  • Daloopa, an AI-powered financial data platform, raised $13 million to expand its data-automation capabilities.
  • Docyt, an AI bookkeeping platform, debuted precision-trained AI agents to accelerate accounting automation and raised a $12 million pre-Series B.
  • Olarry, a U.S. AI tax-filing platform, raised $10 million in seed funding.
  • DPDzero, a debt-collection fintech, raised $7 million to scale its collections technology.
  • Monavate, a payments-network startup founded by a Revolut alumnus, extended its seed round to $6.3 million to expand globally.
  • Lava, a billing platform for the “agent-native” economy, raised $5.8 million to build digital wallets.
  • Handwave, a palm-payment authentication startup, raised $4.2 million to roll out in Europe and the U.S.
  • Tracelight, an AI financial-modelling tool developer, raised $3.6 million in seed funding and launched its product.

💵 Debt Financing
  • Sunbit, a fintech that provides point-of-sale “buy-now, pay-over-time” solutions for sectors like auto repair, dental, healthcare, and veterinary services, completed an inaugural asset-backed securitization of $200 million, achieving a AA rating on its senior tranche and pricing at a 5.713% fixed yield.