This Week in Fintech (5/15)

Hello Fintech Friends,

Investment in Latin American startups is taking off ✈️

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

  • Block.one, Peter Thiel’s blockchain software firm, made a $10 billion investment into its new market-making, lending, and portfolio management subsidiary, Bullish Global.

  • SaltPay raised a previously undisclosed $500 million Series C in April.

  • Gojek, the Indonesian superapp and provider of GoPay, raised a $300 million round.

  • CloudWalk, a Brazilian payment technology network, raised a $190 million Series B.

  • Lili, a digital bank for freelancers, raised a $55 million Series B.

  • Stampli, a corporate invoice management solution, raised a $50 million Series C.

  • Babel Finance, a Hong Kong-based crypto service provider to financial institutions, raised a $40 million Series A.

  • Omnio, a banking-as-service provider, raised a €30 million funding round.

  • Transunion’s stake in Spring Labs was revealed as a $30 million investment in their Series B.

  • Treasury Prime, a banking-as-a-service provider, raised a $20 million Series B.

  • Collective, a self-employment back office that offers tailored financial services and accounting, tax, bookkeeping and business formation, raised a $20 million Series A.

  • Expensya, a Tunisian expense management software, raised $20 million.

  • Relay, a Canadian neobank for small businesses, raised $19.4 million, including a $15 million Series A.

  • FinLync, a corporate finance and treasury platform, raised $16 million in funding.

  • Pomelo, a Latin American payments infrastructure builder, raised $9 million.

  • Ontop, a tax, onboarding and payroll manager for Latin American companies, raised a $4.5 million seed round.

  • Divibank, a Brazilian “Clearbanc for Latin America,” raised a $3.6 million seed round.

  • Sanlo, a financial tools and capital provider to game and app businesses, raised a $3.5 million seed round.

  • Nano, a Vietnamese earned wage access payroll provider, raised $3 million in seed funding.

  • Caplight, a platform for trading private equity derivatives, raised a $1.7 million seed round.

  • KogoPAY, a business bank account provider for the UK, Lithuania, and Thailand, raised £1 million in pre-Series A funding.

  • VitraCash, a UK smart debit card, crowdfunded a £330,000 seed.

  • Visa made a strategic pre-IPO investment in Remitly.

  • FundApps, a regtech provider, raised an undisclosed growth round from Scottish Equity Partners.

  • Curve, the UK over-the-top card platform, is crowdfunding in-part for its next round. 

US VCs on their way to LatAm fintech meetings.


☯️ Exits and M&A

💻 Fintech
  • REPAY, a developer of vertically-integrated payment solutions, acquired payments provider BillingTree for $503 million.

  • Snowball Finance, a Chinese online financial information portal, filed for a $300 million US IPO.

  • Simplex, a provider of a Visa crypto credit card, will be acquired by Canadian payments processor Nuvei for $250 million.

  • Insig AI, a machine learning tool for asset management, raised £6.1 million and listed on the AIM London Stock Exchange.

  • PayPal acquired returns management startup Happy Returns.

  • Stripe acquired Bouncer, a card authentication and fraud detenction startup.

  • NerdWallet filed for an IPO that could value the firm at up to $5 billion.

  • Marqeta filed its S1.

  • Private equity firm Advent International is weighing a sale of its stake in Indian investment advisory and wealth management firm ASK Group for up to $1 billion.

  • Mortgage insurance provider Enact Holdings postponed its planned $497 million IPO.

🏦 Bank
  • Deutsche Bank’s asset management arm DWS is planning to sell its IKS fund platform to French private equity firm BlackFin for around €300 million.

  • TPG and Liberty Financial are the front-runners to buy Australian bank Westpac’s auto lending business.

📈 SPACs
  • Mortgage fintech platform Better will go public at a valuation of around $7 billion through a merger with SPAC Novator Capital.

  • Former London Stock Exchange CEO Xavier Rolet will launch a $300 million fintech SPAC.

  • Serendipity Capital Acquisition, a financial services SPAC, filed for a $250 million IPO.

  • Fintech Ecosystem Development, a Southeast Asian fintech SPAC, filed for a $100 million IPO.


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📚 Deeper Reads

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How Open Banking Could Help Latin America Build The Next Multibillion-dollar Fintech Startup

The Rise Of Banking As A Service

Robinhood’s Big Gamble

The Case Against The Anti-Money Laundering Rules

PayPal Wants to Be a Lot More Than an Online Checkout Button

Revolut's Puzzle

Core Banking Systems Primer

Digital SME Lending

African fintech startups still face major funding gaps

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