The Main Edition - Fundraises

Mynt raises $393M and Bilt raists $150M (TWIF 8/3)

Greece, Nicholas Moschopoulos.

Hello Fintech Friends,

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☕ Join us on September 5th from 8-10am for our first monthly Fintech Coffee, co-hosted with Silicon Valley Bank 👇

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Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)

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📊 Stat of the Week

💸 Venture Financing

Mynt, the firm that manages the Philippines-based neobank and payments app GCash, raised $393 million from Japanese bank Mitsubishi UFJ Financial Group at a $5 billion valuation. GCash boasts 94 million users in a nation with a population of 112 million.
Bilt Rewards, the customer-loyalty program that converts rental payments into points for airline miles, hotel stays, restaurant meals and other perks, raised a $150 million growth round extension at a $3.25 billion valuation.
Axiad, a provider of identity authentication for financial services and government, raised $25 million.
Rillet, builder of an ERP that connects to various banking, payment providers, and CRM platforms to automate invoicing and revenue recognition, raised $13.5 million across its pre-seed and seed round.
Aveni, a Scottish startup that creates AI products designed to streamline workflows in financial services, raised an £11 million Series A from investors including banks Lloyds and Nationwide.
Monkey Exchange, a Brazilian marketplace for accounts receivables trades between large companies, raised an R$67 million ($11.6 million) Series B.
Layer2 Financial, a startup that plans to user digital ledger rails to replace SWIFT's cross-border payments messaging service, raised $10.7 million.
Monto, an Israeli company building an AI connector for ERPs to streamline business payments, raised $9 million in seed funding.
Primary Portal, a platform that aggregates equity capital market processes for banks and asset managers, raised the first stage of a £7.5 million Series A round from German equity exchange Deutsche Börse.
Bourgeois Boheme (BoBo), a Lithuanian neobank focuses on streamlining unlimited wire transfers, card transactions, and investments for ultra-high net worth customers, raised a €6.5 million seed round.
Aviva, the Mexican builder of a conversation-based loan application process, raised a $5.5 million seed round.
FranShares, a startup for retail investing into franchises, raised a $4.1 million seed round.
Mintify, an NFT trading infrastructure platform, raised $3.4 million.
Axle Automation, a provider of AI-enabled anti-money laundering tools for financial institutions, raised a $2.5 million seed round.
iLex, a distribution platform for syndicated loans, added $2.5 million to its pre-Series A.
Pichi Finance, a trustless points trading protocol offering price discovery to tokens, raised a $2.5 million seed round.
Stairpay, a UK startup focused on home equity, raised a £750,000 pre-seed.
Cogniquest, an AI financial document processing company, raised funding.

💸 By the numbers

"In the second quarter of 2024, financial services companies raised $9.7 billion, up a bit year over year and up 17% quarter over quarter from the $8.3 billion invested in the sector in the same quarter in 2023.

However, funding for the past quarter was down 75% from the market peak of Q2 2021, when more than $40 billion was invested." (Source: CB Insights)

📺

Sponsored Content

🚨 ICYMI: The only pre-seed program for fintech founders is kicking off its next cohort on August 19! But don’t worry, there’s still time to apply!

Want to hear more about the program from founders who’ve done it? Watch this video.

Know of any remarkable fintech founders? Send their info to themint@btv.vc today!

Want to apply? Click here.