This Week in Fintech (5/8)

Hello Fintech Friends,

Fintech IPOs are on a hot-streak, with 9 new IPOs announced this week.

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

  • Wealthsimple, the Canadian roboadvisor, raised C$750 million ($610 million) at a C$5 billion ($4 billion) valuation. (The rumor is that $500 million of the fundraise was a secondary sale by owner Power affiliates, which will be diluted to 43% ownership and 60% voting rights, with an 8.3x return or 79% CAGR.)

  • ReCharge, the subscription payment and billing management platform, raised $227 million at a $2.1 billion valuation.

  • Honeybook, a financial management platform for freelancers, raised a $155 million Series D at a $1 billion valuation.

  • Indonesian roboadvisor Bibit raised a $65 million growth round.

  • Vivid Money, the German neobanking app, raised a €60 million Series B.

  • Persona, the identity verification and KYC platform for financial tools, raised $50 million.

  • LoanSnap, a mortgage platform, raised a $30 million Series B.

  • Boost Payment Solutions, a B2B payments provider, raised a $22 million Series C.

  • Coin Metrics, a provider of network data, market data, indexes and network risk technology to institutions touching cryptoassets, raised a $15 million Series B from Goldman Sachs.

  • Railz, a developer of APIs for real-time financial institution account data, raised a $12 million Series A and $3.1 million seed round.

  • Spinwheel, a consumer debt management platform, raised $11 million.

  • Fly Now Pay Later, a UK fintech for financing post-covid travel, raised a £10 million Series A.

  • Fintecture, a French payments infrastructure provider for Europe, raised a $7.5 million seed round.

  • Sorbet, an Israeli startup which converts accrued PTO liabilities from company’s balance sheets to prepaid cards for employees, raised a $6 million seed.

  • alt.bank, a Brazilian neobank, raised a $5.5 million Series A.

  • Graviti, a Mexican buy-now-pay-later startup for appliances, raised a $2.5 million seed.

  • CreditBook, a Pakistani accounting and bookkeeping platform, raised a $1.5 million seed round.

  • Revere VC, an asset management firm and VC platform, raised a $1.35 million seed round.

  • Ensibuuko, a Ugandan microfinance platform, raised a $1 million seed round.

  • Kashat, an Egyptian mobile lending app, raised an undisclosed funding round.

  • OptionMetrics, an options and futures database provider, raised strategic funding from Leeds Equity.

  • a55, an alternative lending solution for Latin America, raised $35 million in debt and equity.

💰 Venture Funds

  • Information Venture Partners closed its third fintech venture fund at $101 million.

  • The Monetary Authority of Singapore announced a $42 million regulatory technology grant pool for young startups.

  • QED Investors raised $12 million for a Latin American fintech fund.

☯️ Exits and M&A

💻 Fintech
  • Marqeta, the card issuing and payment processing provider to much of the US fintech community, is prepping for an IPO that could value it at $15 billion.

  • DLocal, a Uruguayan payment provider, confidentially filed for an IPO that could value the firm at up to $5 billion.

  • Remitly is exploring a US IPO that could value the company at $5 billion.

  • Flywire publicly filed for a US IPO, revealing 38% revenue growth over the last quarter. The firm could be valued at up to $3 billion at IPO.

  • Bill.com is reportedly set to acquire corporate payments startup Divvy for over $2 billion.

  • Enact Holdings, a mortgage insurance business, filed for a $497 million IPO.

  • MeridianLink, a cloud software solution for financial institutions, filed for an IPO to raise up to $350 million.

  • Paymentus, an online billing platform, filed for an IPO to raise up to $250 million.

  • Expense management solution Expensify filed a draft registration for an IPO.

  • Pepper Money, an Australian home and commercial real estate lender, plans to raise A$500 million ($389 million) in an IPO that could value it at A$1.3 billion ($1 billion).

  • PayPal is acquiring merchant dispute and chargeback management tool Chargehound.

  • Online payments provider Global Payments is acquiring Zego, a provider of real estate software and payment solutions.

  • Sovos, a global tax software provider, acquired Acepta, a Chilean invoicing and electronic receipt platform for SMBs.

  • Private equity firm Francisco Partners combined its portfolio companies TradingScreen and Imagine Software into a combined investing and trading platform.

  • JC Flowers completed its acquisition of auto lending website iLending.

  • Auto refinancing platform RateGenius will combine with competitor AUTOPAY.

  • Trustly shelved its plans to raise €785 million in an IPO due to regulator concerns over the Swedish payment firm’s due diligence process.

🏦 Bank
  • Czech banks PPF and MONETA Money Bank agreed to combine their lending assets and businesses, creating a bank valued at 64.2 billion crowns ($3.01 billion).

  • Swiss bank UBS Group sold its remaining stake in fund distribution platform Clearstream to Germany’s Deutsche Boerse for CHF 390 million ($427 million).

  • Sacramento-based retail bank Five Star Bancorp raised $105 million in its IPO.

  • The Safra National Bank parent acquired Bank of Montreal’s private banking business in Hong Kong and Singapore.

  • Commonwealth Bank of Australia acquired Whitecoat, a health industry tech provider, to create a health payments platform.

📈 SPACs
  • Blue Safari Group Acquisition filed for a $50 million US and Chinese fintech SPAC.


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