This Week in Fintech (4/24)

Hello Fintech Friends,

Please find another week of financings and transactions below. (Sneaking back up to all-time highs, with 41 venture rounds announced.)


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.


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💸 Venture Financing

  • Razorpay, an Indian business payments platform, raised a $160 million Series E at a $3 billion valuation.

  • Deel, which provides a business payroll platform, raised $156 million at a $1.25 billion valuation.

  • Subscription billing platforms SaaSOptics and Chargify raised a combined $150 million.

  • Chargebee, an Indian business billing and subscription management tool, raised a $125 million Series G.

  • Digital Asset, a blockchain company used by financial services providers to synchronize disparate data silos, raised a $120 million Series D.

  • Classy, a fundraising platform for charities and non-profits, raised a $118 million Series D.

  • TymeBank, a South African neobank, raised $109 million.

  • Clearbanc, the receivables lender to SaaS companies, raised a $100 million Series C and rebranded to Clearco.

  • Bux, a Dutch no-fee stock trading platform, raised $80 million.

  • Zilch, the UK buy-now-pay-later lender, raised an $80 million Series B at a $500 million valuation.

  • Empyrean Solutions, an asset management solution for banks and credit unions, raised $74 million.

  • FintechOS, a low-code financial technology platform, raised a $60 million Series B.

  • Starling Bank, the UK neobank,raised £50 million from Goldman Sachs.

  • MANTL, a startup that allows people to open credit union and community bank accounts digitally, raised a $40 million Series B.

  • Welcome Tech, which provides banking and lending services to new immigrants, raised a $35 million Series B.

  • The TIFIN GROUP, a fintech venture studio, raised $22.3 million in Series B funding from investors including JP Morgan, Morningstar and Broadridge.

  • Embedded Financial, a clearing firm for equities, raised $20 million in successive seed fundings.

  • Candex, a ‘master vendor’ payment processor, raised a $20 million Series A from institutions including.

  • Payhawk, which helps companies unify payments and expense management, raised a $20 million Series A.

  • AltoIRA, a self-directed IRA platform, raised a $17 million Series A.

  • Nymbus, a banking technology vendor, raised $15 million.

  • Hash, a Brazilian payments infrastructure provider, raised $15 million.

  • My Percent, an investing platform, raised a $12.5 million Series A.

  • Tribal Credit, a credit card provider to startups in emerging markets similar to Brex, raised $34 million in combined debt and Series A equity.

  • Tamara, a Saudi buy-now-pay-later service, raised a ~$10 million Series A and ~$100 million in debt.

  • Bespoke Financial, a cannabis lending business, raised an $8 million Series A.

  • Plooto, a business cash flow management automation platform, raised an $8 million Series A.

  • Till Financial raised $5 million for a kids’ spend management app.

  • Qapita, which builds equity management software for startups, raised $5 million.

  • STACS, a Singaporean banking blockchain platform, raised a $3.6 million pre-Series A.

  • Okra, a Nigerian open banking API provider, raised a $3.5 million seed.

  • 3s.money, a UK foreign currency bank transfer solution, raised a £3 million Series B at a £40 million valuation.

  • GoalBased Investors, a financial planning app, raised a $2.75 million seed.

  • Atrato, a Mexican buy-now-pay-later platform, raised a $2.7 million seed round.

  • Fintor raised a $2.5 million seed round to fractionalize real estate investment. 

  • loyalBe, a North Ireland-based open banking loyalty app, raised £1 million.

  • Transunion invested in decentralized credit scoring service Spring Labs.

  • Peach Payments, a South African payments gateway, raised a round to expand across Africa.

  • CRiskCo, a loan application platform, raised funding from Prytek.

  • Revolut is currently fundraising at a $10 billion valuation.

  • Rapyd is reportedly raising around $250 million at a $5 billion valuation.

💵 Debt Financing

  • Open Co, a fintech that provides unsecured loans to Brazilian consumers, raised a $270 million credit line from Goldman Sachs.

💰 Venture Funds

  • The black and women-owned Fearless Fund raised a strategic investment from Mastercard.

☯️ Exits and M&A

💻 Fintech
  • Spanish fund distribution network Allfunds priced its IPO at a market value of up to €7.6 billion.

  • Deluxe, a business solutions provider, acquired First American Payment Systems, a payment processor, in an all-cash $960 million deal.

  • Mastercard will acquire Ekata, an identity verification company, for $850 million.

  • Private equity firm Siris Capital submitted a £624 million offer for UK financial administration company Equiniti.

  • Affirm will acquire purchase return platform Returnly (which previously raised funding from Max Levchin) for $300 million.

  • PicS (or PicPay), a Brazilian digital payments provider, filed for a $100 million Nasdaq IPO.

  • Offers and rewards platform Cardlytics will acquire customer data and marketing platform Bridg.

  • Nomu Pay, the European and Asian payments arm of Finch Capital, will acquire Wirecard’s Hong Kong, Malaysia, Philippines and Thailand assets.

  • Marble Financial, a Canadian personal financial manager, acquired open banking platform Inverite Verification.

  • Zeepay, a Ghanaian international neobank, acquired Zambian mobile money provider Mangwee Mobile Money.

  • Fresh off a new round of funding, financial institutin bitcoin manager NYDIG acquired commercial lender Arctos Capital.

  • Danish neobank Lunar will acquire Swedish digital lender Lendify.

  • Private equity firm Crestview Partners made a majority investment in German auto financing platform AutoLenders.

  • Private equity fund EMH Partners acquired 65% of the shares of German billing and subscription management service cleverbridge.

  • Remittances company Wise is in talks with UK regulators about a direct listing on the London Stock Exchange.

  • Digital lending software provider Blend confidentially filed for IPO.

  • LaTrobe Financial, a non-bank lender, is considering an IPO that could value it at $2 billion.

🏦 Bank
  • Standard Chartered, DBS, MUFG, and OCBC will bid for Citi’s Asia business.

📈 SPACs
  • CompoSecure, a digital asset storage and custody solution for financial services providers like JP Morgan and American Express will go public through a merger with Roman DBDR Tech Acquisition Corp at a $1.2 billion valuation.

  • SPACs raised over $100 billion so far in 2021 (a year that has seen more inflows than the past 12 years combined), but regulator comments have thrown ice on the buzzy fundraising vehicles.


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