This Week in Fintech (10/2)

Hello Fintech Friends,

Thank you to everyone who came out to our New York, San Francisco, and London meetups this week!

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, I may be able to help - reach out to nik@thisweekinfintech.com.


Sponsored Content

Finding new partners and filling your pipeline just got easier! Fintech Meetup is facilitating 30,000+ 1-1 meetings for 3,000+ industry professionals--it’s the most efficient way for you to create opportunities for your business. All meetings are double opt-in (you both swiped right!) so there’s no wasted time, and 63% of participants are EVP, SVP, VP-Level and above, so you know you’ll be talking to the right people. Online, March 8-10, qualifying startups can get special startup rate tickets. Get Ticket


💼 Open Role Spotlight

Stealth-mode embedded investing platform Atomic is hiring across the board, for a General Counsel, a Series 27 FinOp, a Head of Trading, an AML/Fraud Manager, and a Middle Office Operations Manager.


💸 Venture Financing

  • OfBusiness, an Indian small business credit provider, raised a $207 million Series F at a $3 billion valuation.

  • Ascend Money, the company behind Thai digital wallet TrueMoney, raised a $150 million Series C at a $1.5 billion valuation.

  • Built Technologies, a maker of construction financing software, raised a $125 million Series D at a $1.5 billion valuation.

  • Konfio, a Mexican lending platform, raised a $110 million Series E extension at a $1.3 billion valuation.

  • Alloy, the universal identity API for financial services, raised a $100 million Series C at a $1.3 billion valuation.

  • Buckle, a financial services provider for the gig economy, raised a $60 million Series B.

  • Betterment, a US roboadvisor, raised a $60 million Seres F at a $1.3 billion valuation.

  • Aspire, a Singaporean neobank, raised a $58 million Series B.

  • EquityBee, a platform for financing private company share purchases, raised a $55 million Series B.

  • Highnote, a banking-as-a-service card issuing platform, emerged from stealth with a combined $54 million seed and Series A.

  • Capital Float, an Indian buy-now-pay-later service, raised $50 million.

  • TransferGo, a UK migrant remittance network, raised a $50 million Series C.

  • Omaha National, a payroll and workplace compensation provider, raised a $45 million Series B.

  • Zero Hash, a digital assets enablement platform for financial services, raised a $35 million Series C.

  • Capiter, an Egyptian B2B payments and e-commerce platform, raised a $33 million Series A.

  • Parafin, a lender to small businesses, raised a $30 million Series A.

  • QC Ware, a quantum computing startup, raised $25 million from Citi.

  • Higo, a Mexican B2B payments platform, raised a $23 million Series A.

  • TailorMed, a digital financial health company, raised $20 million.

  • Vareto, a financial planning platform for businesses, raised a $20 million Series A.

  • Swan, a French embedded banking platform, raised a €16 million Series A.

  • Yellow Card, a Nigerian digital assets exchange, raised a $15 million Series A.

  • Rize, a banking infrastructure developer, raised an $11.4 million Series A.

  • VertoFX, an African cross-border B2B payments provider for emerging markets, raised a $10 million Series A.

  • Angle Labs, a stablecoin based on derivatives, raised a $5 million seed.

  • Prometheus, an alternative investment platform and social network, raised a $5 million seed round.

  • Stake, a cash back rewards program with flexible payment plans for renters, raised $4 million in seed funding.

  • Oraan, a Pakistani platform for financial inclusion for women, raised $3 million.

  • Verihubs, an Indonesian KYC and ID verification service for financial services, raised a $2.8 million seed.

  • Coinrule, a French retail digital asset trading platform, raised $2.2 million in seed funding.

  • Ziglu, a UK-based money app, crowdfunded £1 million.

  • InvestX Capital, a private market secondaries exchange, raised a strategic investment from Jefferies and Virtu Financial.

  • HelloChoice, a South African agricultural finance startup, raised funding from Standard Bank.

  • QisstPay, a Pakistani buy-now-pay-later platform, raised a $15 million mix of equity and debt.

  • Deel, a developer of payroll tools, is reportedly raising at a $5.5 billion valuation.

  • Chip, the UK money management app, plans to raise £100 million over 24 months through crowdfunding.

💵 Debt Financing

  • German business lender Auxmoney placed a €250 million bond securitization of its loans.

  • Singaporean neobank Aspire raised $100 million in debt alongside its Series B.

  • Roboadvisor Betterment raised a $100 million credit facility alongside its Series F.

💰 Venture Funds

  • Thailand’s Siam Commercial Bank is launching an $800 million fintech venture fund.

  • Cross-border currency developer Ripple launched a $250 million NFT creator fund.

  • Financial services software giant Intuit launched a new venture arm, Intuit Ventures, to invest in small business-focused innovation.

(Source)

☯️ Exits

💻 IPOs
  • P10, an alternative asset investment manager, filed for a US IPO at a valuation over $1 billion.

  • Japanese e-commerce giant Rakuten is preparing to list its online bank for an IPO.

  • Allvue Systems, a developer of software for the investment industry, is postponing its planned IPO due to adverse market conditions.

🤝 M&A - Fintech
  • European omni-channel payment platform Market Pay acquired French mobile fintech service Dejamobile.

  • Chilean insurance platform Betterfly acquired six companies, including Brazilian payments service Xerpay.

  • Private equity firm Francisco Partners took a controlling stake in investment research product SourceScrub.


Sponsored Content

Hundreds of fintechs have already signed up to Fintech Meetup, including Alloy, Alviere, Argyle, Autobooks, Azimuth, Certa, Dave, FISPAN, MANTL, Nuance, Nymbus, Signal Intent, Sila, Synctera, Urban FT and many, many more! They’re joining because they know that Fintech Meetup is the easiest way to find new partners and fill their pipelines. Join Them & Get Ticket


🌎 Fintech Around the World

What we can learn from Afghanistan’s nascent crypto economy

Reserve Bank of India: Fintech regulations must be based on entity, not activity

North Africa’s Top Banks in 2021

📚 Deeper Reads

Financial Tools for Solopreneurs (a16z September Newsletter)

Why Free Trading Will Never Be Free

Why cash will be obsolete within a decade

Minting Money Out Of Radical Uncertainty

The “DeFi Fund” Charade

Jeeves makes more waves

Startup Firms Help Home Buyers Win Bidding Wars With All-Cash Offers

Coinbase’s latest partnerships could be first steps towards the ‘future of payroll’

A new generation of climate fintech startups

Small businesses are turning to loans that require zero human oversight

Capybaras are taking over a fancy gated community in Argentina


Want to be a This Week in Fintech Sponsor? Reach out to us at sponsor@thisweekinfintech.com.

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

Come meet us in-person at www.fintechhappyhour.com