Hello Fintech Friends,
Is fintech overvalued or undervalued?
Please find another week of financings and transactions 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 firstname.lastname@example.org.
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💸 Venture Financing
Mortgage lender Better is raising a $500 million round at a $6 billion valuation from SoftBank.
Plaid raised a $425 million Series D at a $13.4 billion valuation.
Indian credit issuance startup CRED raised a $215 million Series D at a $2.2 billion valuation.
Ramp, the business spend management and CFO solution, confirmed its $115 million raise at a $1.6 billion valuation.
Banking and crypto services provider NYDIG raised an additional $100 million to launch insurance products.
Groww, an Indian consumer investment startup, raised an $83 million Series D at a $1 billion valuation.
TipRanks, an Israeli stock investing financial analytics provider, raised $77 million.
TrueLayer, the UK open banking platform, raised $70 million in funding.
StashFin, a Singaporean neobank for Southeast Asia, raised $40 million in new funding.
Blue Dot, a machine learning business accounting and tax prep platform, raised $32 million in funding.
Cora, a Brazilian lending platform for SMBs, raised a $26.7 million Series A.
Financial infrastructure provider Orum raised a $21 million Series A.
Egyptian online and offline payments startup Paymob raised an $18.5 million Series A.
Inbox Health, a payments platform for medical patients, raised a $15 million Series A.
FinanZero, a Brazilian online credit marketplace, raised a $7 million round of financing.
Financial planning software provider Abacum raised a $7 million seed.
Spoko, an international money transfer startup, raised €5 million.
Walnut raised $3.6 million to provide buy-now-pay-later for healthcare.
Ark, an investment management portal for professional investors, closed a $3.4 million Series A.
Finary, a social investing platform, raised a $3.2 million seed round.
Ensemble, a family money management platform for divorced parents, raised $3 million.
Tred, a UK carbon-tracking debit card, passed its £400,000 crowdfunding target.
Friz, a Singaporean financial services platform for freelancers, raised an undisclosed amount of pre-seed funding.
MoneyLion made a strategic investment in Zero Hash to enable cryptocurrency features for its users.
Greenlight, the maker of a debit card for kids, is raising at a $2 billion valuation.
💵 Debt Financing
German lending platform Auxmoney raised $250 million in debt from lenders including Citigroup.
☯️ Exits and M&A
Grab, the Singaporean superapp that provides financial services products across Southeast Asia, agreed to go public through a merger with Altimeter Capital’s SPAC at a $35 billion valuation with a $2.5 billion raise.
Alkami, the US core banking software platform, is planning a $2 billion IPO with a $150 million fundraise.
Wealthtech platform Allfunds is planning to list on the Euronext Amsterdam exchange.
Australia’s EML Payments entered the European open banking market through the acquisition of Ireland’s Sentenial for €70 million.
Consumer investment app Acorns acquired AI-powered student loan management platform Pillar.
Wealthtech platform Envestnet acquired personal financial manager Harvest Savings.
Options Technology, a provider of global capital markets IT infrastructure, acquired Fixnetix, a front-office trading tech provider to banks.
Online lender Avant acquired credit card provider Zero Financial and its neobank, Level.
UK employee financial wellness platform Wagestream acquired Australian fintech Earnd.
CeriFi, a training and education platform for financial services professionals, acquired insurance training platform CPMI.
Secured financing provider IDS acquired asset finance solutions service White Clarke Group.
Dutch money transfer platform CurrencyFair is merging with Australia’s Assembly Payments, using a strategic investment from Standard Chartered.
French bank Société Générale is in talks to sell most of its asset management arm Lyxor to asset manager Amundi for €825 million.
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📚 Deeper Reads