This Week in Fintech (5/1)

Hello Fintech Friends,

For New Yorkers, we’re organizing an outdoor fintech happy hour on May 19th. Let us know if you’d like to join! Will share more details on Friday.

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.


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💸 Venture Financing

  • Brex, the corporate card provider, raised $425 million at a $7.4 billion valuation.

  • Paxos, the white-label crypto functionality provider for platforms like PayPal, raised $300 million at a $2.4 billion valuation.

  • Greenlight, a debit card provider for kids, raised a $260 million Series D at a $2.3 billion valuation.

  • Current, a US neobank, raised a $220 million Series D at a $2.2 billion valuation.

  • Step, a financial services provider for teens and families, raised a $100 million Series C.

  • Viva Wallet, an international European neobank, raised $80 million from investors including the European Bank for Reconstruction and Development.

  • Warren, a Brazilian brokerage and asset manager, raised R$300 million ($55 million). 

  • Securrency, which provides blockchain-based compliance and regulatory tools to financial institutions, raised a $30 million Series B.

  • StashAway, an Indian roboadvisor, raised a $25 million Series D.

  • Bluecode, a European mobile payment solution, raised €20 million.

  • Finoa, a German gateway for institutional investors to invest in digital assets, raised a $22 million Series A.

  • Splitwise, the group budget splitting tool, raised a $20 million Series A.

  • Gr4vy, a cloud payments orchestration platform, raised an $11.1 million Series A.

  • Signal Advisors, a platform for financial advisors, raised a $10 million Series A.

  • Notional Finance, a fixed-rate borrowing and lending DeFi protocol, raised a $10 million Series A.

  • CollegeBacker, a social savings platform for education, rebranded as Backer and raised $8.4 million.

  • Weav, an API orchestration layer for payments and commerce platforms, raised $4.3 million.

  • Zirtue, a black-owned relationship-based lending app, raised a $4 million seed.

  • Ikigai, a UK wealth management app for affluent millennials, raised £1.2 million.

  • Bankish, an Estonian core banking provider, raised a €1 million seed round.

  • Regtech ALT/AVE raised £535,000.

💰 Venture Funds

  • Fintech VC Ryan Gilbert opened Launchpad Capital, a fintech-focused VC firm.

☯️ Exits and M&A

💻 Fintech
  • Australia’s Afterpay is considering a US IPO that could value the company over A$37 billion ($29 billion).

  • Nubank is prepping for a US IPO that is likely to value it at over $25 billion, and will be a bellwether for other neobanks.

  • Israeli credit fintech Pagaya is planning a US IPO at an $8 billion valuation.

  • Retirement savings provider Ascensus is nearing a deal to be taken over by private equity firms Stone Point Capital and GIC Pte for $3 billion.

  • Allvue, a private equity-owned software maker for private fund managers and family offices, is planning an IPO at a $2 to $3 billion valuation.

  • Stripe acquired automated sales tax tool provider TaxJar for an undisclosed amount.

  • Installment lending fintech OneMain acquired Trim, the financial wellness PFM app.

🏦 Bank
  • Rockland Trust will acquire East Boston Savings Bank for $1.15 billion.

  • Five Star Bank plans to raise up to $120 million in its upcoming IPO.


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📚 Deeper Reads

How to Build a Digital Wallet Product

Core Banking Systems Primer

Emerging Markets BNPL: An opportunity for growth and inclusion

World’s largest neobank tracker

State Of Fintech Q1’21 Report

Many-Winner Markets

The Number of Fintech Consumer Complaints Filed to the CFPB Exploded in the Beginning of 2021

Robinhood Has a Customer Service Problem

Who’s Who in Fintech: The Middle East and Africa 2021 Report

FinTech & The Gaming Industry

How Gig Wage raised $13 million

Regulation in the Era of Fintech

Challenger Banks and Tailored Banking Experiences

China’s fintechs face an uphill battle with listings

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