This Week in Fintech (11/27)

Hello Fintech Friends,

We have less than a week until the inaugural Fintech Formal!

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Please find another week of fintech financings and exits below.


Editor’s Note: If you’re an early-stage startup founder raising equity or debt, we may be able to help - please see our primer for more details and reach out to nik@thisweekinfintech.com.


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💼 Open Role Spotlight

Come find your place on the team at the most inspiring fintech startups! Browse open roles on This Week in Fintech’s job board.


💸 Venture Financing

  • MoonPay, a dollar to crypto on-ramp, raised $555 million at a $3.4 billion valuation.

  • Gemini, a digital currency exchange, raised $400 million at a $7.1 billion valuation.

  • Allica, a small business-focused UK neobank, raised a £110 million Series B.

  • Payhawk, a UK corporate card provider, raised a $112 million Series B at a $570 million valuation.

  • Pace, a Singaporean buy-now-pay-later lender, raised a $40 million Series A.

  • Truepay, a Brazilian buy-now-pay-later startup, raised a $32 million Series A.

  • Fonoa, an Irish tax compliance provider, raised a $20.5 million Series A.

  • Vesttoo, an alternative investment platform, raised a $15 million Series B.

  • GPARENCY, a mortgage banking platform, raised $15 million.

  • Kafene, a point-of-sale financing provider, added $15 million to its Series A and raised $50 million in debt.

  • Crowdcube, a UK crowdfunding platform, raised $13.5 million itself.

  • Z1, a Brazilian neobank, raised a $10 million Series A.

  • Pomelo Pay, a digital payments company, raised a $10 million Series A.

  • Slope, a global B2B payments platform, raised $8 million in seed funding.

  • Column Tax, a personal income tax software provider, raised a $5.1 million seed.

  • Synch, an Irish banking joint venture building a multi-bank payment app, raised €5 million.

  • EarlyBird, a kids’ investing app, raised a $4 million seed.

  • OnePipe, a Nigerian embedded finance provider, raised a $3.5 million seed.

  • Näktergal, a Swedish cloud-based lender, raised €1 million.

  • Basiq, an Australian open banking platform, received an equity investment from Visa.

  • Fronted, a UK rental deposit lender, raised £20 million in debt and equity.

  • Freetrade, a UK investing platform, launched a crowdfunding round at a £650 million valuation (and raised £8 million on its first day).

Source: Slope

💰 Venture Funds

  • VentureSouq, a Middle East and North Africa fintech venture fund, raised $50 million.

  • Seaya Ventures and Cathay Innovation launched a $125 million fund for Latin American fintechs.

☯️ Exits

💻 IPOs

  • Saudi exchange operator Tadawul set terms for a $1 billion IPO.

  • Nubank is prepping twin public listings next month: on the US New York Stock Exchange and Brazilian B3.

📈 SPACs

  • Globalink Investment filed for a $100 million SPAC targeting payments.

🤝 M&A - Fintech

  • ID and KYC provider GBG bought KYC provider Acuant for $736 million.

  • Revolut acquired hospitality point-of-sale payment system Nobly.

  • Data analytics firm Uplinq will buy financial modeling company Verde.

  • Electronic trading firm smartTrade acquired FX and payments provider TickTrade.

  • Klarna continued its acquisition spree by buying browser extension Piggy.

  • Mastercard acquired Arcus, a Latin American provider of bill-pay and real-time payment solutions and an alum of its Start Path program.

  • Ramsey Solutions acquired Apay Financial.

  • Event payment management app Blackthorn acquired text provider Textey.

  • Singapore’s Coda Payments is looking to sell itself for a $4 billion price.

🏦 M&A - Bank and FinServ

  • US private equity firms have made a takeover offer for Germany’s Aareal Bank for $1.9 billion.

  • UK neobank Allica Bank bought the £600 million small business loan book of Allied Irish Bank.

  • Private equity firm Warburg Pincus is weighing an acquisition of the wealth management unit of China’s Everbright Bank.


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🌎 Fintech Around the World

Global investment money is flooding into Africa’s fintechs

There will be no escaping Ghana’s new levy on electronic transactions

Curb your enthusiasm: payment service banks and financial inclusion in Nigeria

Dirty dollars: how tattered US notes became the latest street hustle in Zimbabwe

One in two Brits to ditch credit cards for Christmas

📚 Deeper Reads

How to protect your money from inflation

How Fintech Is Meeting The Needs Of The Unbanked — Now And In The Future

How will Visa Amazon Play Out?

QR payments on the menu for Covid-hit restaurants

What to know about the 2021 National Dog Show on Thanksgiving Day


Have a news item for us? Reach out to news@thisweekinfintech.com.

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