Hello Fintech Friends,
Who would be interested in a This Week in Fintech SPAC? I’m just kidding (am I kidding?) but these days I may as well not be.
Please find another week of financings and transactions below.
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Robinhood raised $3.4 billion in funding to account for growth in new accounts and trade volume.
Millennial investing app Stash raised a $125 million funding round.
Home lease-to-own startup Divvy Homes raised a $110 million Series C.
Construction finance company Built raised an $88 million Series C.
Valon, a digital mortgage servicer, raised a $50 million Series A.
Scalapay, an Italian buy-now-pay-later startup, raised $48 million.
Financial crime investigation automation software Quantifind raised $22 million in growth financing.
Narmi, a digital banking technology provider, raised a $20.4 million Series A.
Yotta, a lottery-based savings account, raised a $13.2 million Series A.
Mexican consumer investing startup Flink raised a $12 million Series A.
Lockstep, a connected accounting startup, raised a $10 million Series A.
NymCard, an Abu Dhabi-based banking-as-a-service provider, raised a $7.6 million Series A.
Datomize, a financial services metadata discovery and model configuration platform, raised a $6 million seed.
Monkey, a Brazilian financial marketplace, raised a $6 million Series A.
B2B payments platform Balance raised $5.5 million from backers including Stirpe and Affirm’s Max Levchin.
Rightfoot raised a $5 million seed to build an embedded application that allows users to pay down debt in any platform.
Banxware, a German embedded small business lending startup, raised a €4 million seed.
Swiss wealth management fintech Wealtharc raised $4 million in new funding.
Routefusion, a B2B cross-border payments platform, raised a $3.6 million seed round.
Vested Finance raised $3.6 million to bring US stock investing to Indian traders.
Is this… fintech? Crush Capital raised a $3.25 million to launch a streaming series on going public.
Twinco Capital, a Spanish supply chain finance startup, raised €3 million.
Cowrywise, a Nigerian wealth management app, raised a $3 million pre-Series A.
Ben, a combination fintech and HR tech platform, raised a $2.5 million seed to build employee benefits.
GajiGesa, an Indonesian earned wage access provider, raised a $2.5 million seed.
Doorvest, an online real estate investment platform, raised $2.5 million in seed funding.
Auto refinancing platform iLendingDIRECT received a majority investment from J.C. Flowers.
Fidelity is in talks to invest £200 million into UK neobank Starling.
☯️ Exits and M&A
Financial software provider MeridianLink is planning an IPO at an enterprise valuation of up to $3 billion.
ION Group, the financial data and technology vendor, is nearing a deal to buy Italian banking software provider Cedacri for €1.5 billion.
InvestCloud completed a recapitalization valuing the company at $1 billion.
National Australia Bank will acquire neobank 86 400 for $220 million and combine it with its own neobank, Ubank.
Intuit bought app integrator OneSaas to boost its Quickbooks Commerce business.
United Fintech bought a 25% stake in German financial instruments automation platform TTMzero.
Ant Group will plan to sell its EyeVerify biometric ID unit due to US scrutiny.
Greenphire, which helps process payments for clinical trials, is looking for a buyer.
Goldman Sachs increased its stake in Czech digital bank MONETA to 10.45% to head off a takeover offer by PPF Group.
Lending Club officially completed its acquisition of Radius Bank.
Mediobanca’s wealth management division bought UK distressed credit specialist Bybrook Capital.
BBVA sold Holvi, its digital banking service for self-employed people, to Keru Fintech Investments.
💲 Investment Management
Vinci Partners, a Brazilian alternative investor, raised $250 million in a Nasdaq IPO.
Canadian investment manager Ninepoint completed a C$230 million IPO, raising a new fund to invest in cryptocurrencies.
Payoneer, which expects to make $432 million in revenue in 2021, reached a deal to go public through a merger with FTAC Olympus at a $3.3 billion valuation (including a $300 million PIPE).
Online financial technology marketplace and banking provider Moneylion is in talks to go public through a merger with Fusion Acquisition Corp, at an enterprise value of up to $2 billion.
Asset management and risk software Solera Holdings is in talks to go public through the Apollo Strategic Growth Capital SPAC at an enterprise value of around $1 billion.
Hera Acquisition, a Bancorp-led SPAC, filed for a $750 million IPO.
Thunder Bridge Capital Partners III, a fintech SPAC, priced a $360 million IPO.
Finserv Acquisition II, a financial services SPAC led by an ex-Barclays team, filed for a $250 million IPO.
VPC Impact Acquisition III, led by Victory Park Capital, filed for a $225 million IPO.
Astrea Acquisition, a SPAC focused on the intersection of hospitality and financial services, filed for a $150 million IPO.
The London Stock Exchange is looking at facilitating SPACs.