This Week in Fintech (3/27)

Hello Fintech Friends,

I noted a week ago that it was the busiest week for fintech fundings I’d seen since I started writing this, at 33 fundraises. This week, we passed that with 39.

Please find another week of financings and transactions below.


Editor’s Note: If you’re an early-stage startup founder raising equity or a debt facility, I may be able to help - reach out to nik@thisweekinfintech.com.


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💸 Venture Financing

  • Feedzai raised a $200 million Series D at a $1 billion valuation to continue building out its AML and financial fraud ID tool.

  • Jumio raised $150 million for its financial fraud ID platform.

  • Crypto infrastructure provider Fireblocks is now targeting banks to provide them with crypto services, and raised a $133 million Series C to do so.

  • Accounting software firm Pilot raised $100 million at a $1.2 billion valuation.

  • Airwallex, a cross-border payments firm, raised a $100 million Series D extension at a $2.6 billion valuation.

  • UK-based payments provider PPRO extended its latest round with another $90 million.

  • KOHO Financial, a Canadian neobank, raised a $70 million Series C.

  • KreditBee, an Indian fintech lending platform, raised a $70 million Series C.

  • Freetrade, a UK stockbroker app, raised a $69 million Series B.

  • Greenwood, the neobank for communities of color, raised a $40 million Series A.

  • Vórtx, a Brazilian fund manager service provider, raised a $35 million Series B.

  • Rupeek, an Indian gold-based lending platform, started its Series E fundraise with $33 million.

  • VoxSmart, a financial market communications surveillance platform, raised $25 million.

  • Incode, an ID verification platform for financial services institutions, raised a $25 million Series A.

  • Maxwell, a digital mortgage platform for lenders, raised a $16.3 million Series B.

  • Middesk, a KYB business ID verification startup, raised a $16 million Series A.

  • Pluang, an Indonesian savings and investment app, raised a $20 million pre-Series B.

  • UK peer-to-peer lender Zopa raised £20 million following the launch of its neobank.

  • Polly, a mortgage SaaS platform, raised a $15 million Series A.

  • Meniga, a UK provider of software to banks, raised €10 million.

  • LenderClose, a home equity lending platform, raised a $10 million Series B.

  • Lev, a financing platform for real estate transactions, raised a $10 million seed round.

  • Leaf Trade, a payments platform bringing banking services to the cannabis market, raised a $5.5 million Series A.

  • Swedish fintech Zaver raised $5 million to bring cardless buy-now-pay-later to offline, hard goods purchases.

  • Creative Juice raised $5 million to build a similar platform to Stir for creators.

  • Fraud-detection-as-a-service platform Sardine raised a $4.6 million seed round.

  • FlexxPay raised $4.5 million to give Saudi workers early access to their payroll.

  • Rupifi, an Indian financing platform for SMBs, raised $4.1 million in pre-Series A funding.

  • Enthuse raised a £3.5 million Series A to build a philanthropic donation payments platform.

  • Baubap, a Mexican mobile lender, raised a $3 million growth round.

  • Osu, a payments app for self-employed workers, raised a £2.25 million seed round.

  • Bankly, a Nigerian startup digitizing payments for unbanked consumers, raised $2 million from backers including Flutterwave.

  • Vest raised a $1.75 million pre-seed to build savings and investment services for Mexican consumers.

  • Afriex raised a $1.2 million seed round to build a remittance platform for Africa.

  • Jeff raised $1 million to build unbanked consumer alternative credit scoring for fintechs in Southeast Asia.

  • Sivo raised $5 million to build a debt-as-a-service platform.

  • Brick, an Indonesian open banking fintech API, raised a seed round.

  • Flux raised a $77,000 pre-seed to build crypto remittances for Africa.

  • Turkish payment processing fintech DgPays raised money from the European Bank for Reconstruction and Development and Goldman Sachs.

☯️ Exits and M&A

💻 Fintech
  • Robinhood filed confidentially for IPO, and is planning to let its users participate.

  • AvidXchange, a small business payments automation platform, is prepping for a Q2 US IPO that could value the company at $7 billion.

  • Indian payments platform MobiKwik is targeting a Q3 IPO that could value the business at $700 million.

  • French CRM Quadient acquired accounting orchestration layer Beanworks for €70 million.

  • US options exchange operator Cboe Global Markets acquired Chi-X Asia Pacific to expand its markets into Japan and Australia.

  • CashRich, an Indian wealthtech company, acquired roboadvisor WealthApp's mutual fund distribution business.

  • Private equity firm Thoma Bravo is acquiring cross-asset financial markets software Calypso.

  • Dutch stock exchange Euronext is divesting asset manager platform Centevo to Profile Software.

  • UK payroll platform Wagestream acquired its Australian counterpart Earnd from the collapsed Greensill.

  • ID authentication platform Prove acquired fintech insights and alerts platform Medici Global.

  • The UK’s Competition and Markets Authority has blocked Crowdcube’s proposed merger with Seedrs.

🏦 Bank
  • The Bank of East Asia is selling its life insurance unit to AIA Group for $653 million.

  • Wells Fargo agreed to sell its corporate trust services to Computershare.

  • Spain’s Banco Santander agreed to buy the 8.3% stake in its Mexican unit that it doesn’t currently own.

  • Greece’s National Bank sold its insurance unit to private equity group CVC Capital.

📈 SPACs
  • Fintech investment bank FT Partners raised a $500 million SPAC to pursue a financial services target.


📚 Deeper Reads

Me and my friends we got money to spend – Plaid roadmap edition

25 Fintechs Going Green

The new wave of retail traders is younger, less white, and less male

The New Stock Influencers Have Huge—and Devoted—Followings

Open Banking: Rearchitecting the Financial Landscape

From Crypto to Credit Cards: What Lies Ahead for Digital Banking?

A tale of two ecosystems: Square 10K

How Stripe became Silicon Valley’s most prized asset

Most African YC-backed startups in today’s lot are focused on fintech

The top 10 Fintech companies disrupting financial services

JPMorgan Chase: The Real Winner Of The Fintech Micro-Bubble

‘Hot pigeon’ goes viral, putting NYC’s flock to shame