Fundraises

Australia's Betashares gets A$300M to go global (TWIF 6/29)

Jan Pypers, Hasselblad Masters Winners in Fine Art Photography

Hello Fintech Friends,

Please find $350+ million in new fintech fundraises to end your week, across 24 companies.

We were excited to share Fintech Fund portfolio company Rainforest's $20 million Series A this week. Rainforest embeds payment processing into other software platforms with programmability and features that are purpose-built for software providers, not just merchants and e-commerce vendors. In the last six months, the company has grown its payment processing volume by 17x+. If you'd like to insource payments to your product, check them out at rainforestpay.com.

Thanks as well to everyone who joined our fintech risk dinner in London on Thursday!

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

New survey research estimates that around 16% of Mexican consumers use digital wallet (which feels surprisingly low to me). (Source)

Meanwhile, around 25% of German consumers use prepaid cards to avoid taking on debt. (Source)

💸 Venture Financing

Betashares, an Australian exchange-traded fund manager, raised up to A$300 million ($198.4 million) to help build its domestic and overseas offerings.
KarmaCheck, a solution for background checks, credentialing, and compliance, raised a $45 million Series B.
Route, a post-purchase tracking provider, raised a $40 million Series C at a $1.4 billion valuation.
Norm AI, an AI-powered regulatory compliance platform, raised a $27 million Series A.
Rainforest*, a startup that embeds payment processing into other software platforms, raised a $20 million Series A.
Payabli, a payments infrastructure solution for software companies, raised a $20 million Series A.
Verituity, a provider of verified payout solutions, raised $18.8 million.
Banca AideXa, an Italian digital lender specialising in providing credit to micro and small businesses, raised €16 million.
Crossover Markets, a digital asset trading technology firm focused on institutional liquidity requirements, raised a $12 million Series A.
Bling, a German app that combines pocket money, cell phone tariffs and family investing, raised a $12 million Series A.
CereTax, a provider of a sales tax automation, raised $9 million.
Connect Money, an Egyptian banking-as-a-service provider, raised an $8 million seed round.
AnchorZero, a platform enabling founders to leverage Roth IRAs for tax savings, raised an $8 million seed round.
SoSoValue, a Singaporean crypto financial research startup, raised a $4.15 million seed round.
BlueFlame, a generative AI platform for alternative investment managers, raised a $5 million Series A.
LoopFX, a UK peer-to-peer FX trading platform, raised £2.6 million.
Viio, a software spend management platform, raised €3.3 million.
Chift, a Belgian startup that helps SaaS companies integrate with financial applications, raised a €2.3 million seed.
Numerated, a commercial lending platform, raised strategic capital from Citi.
Curve, which lets users consolidate multiple cards into a single smart card and app, received funding from Samsung Next.
Daphne, a provider of investment data, raised a private equity round.
IGM Technology, the company behind cloud-based regulatory reporting platform Gravity, received an undisclosed strategic investment.
Revolut, the global neobank, is undertaking an employee share sale that it expects to price at a $40 billion valuation.
Stripe, the global payment facilitator, will likely provide another employee tender offer opportunity.

💵 Debt Financing

Uzbek neobank TBC secured a $10 million credit line from impact investor responsAbility to expand its microlending business and promote financial inclusion in Uzbekistan.