Hello Fintech Friends,

It’s starting to feel like the summer doldrums, with new financing and exit activity slowing down until vacations end in September.

But that hasn’t stopped the neobanks! Dutch neobank Bunq raised €45 million this week with the goal of expanding to the USA, while UK neobanks all report profitable years.

🇲🇽 And it hasn't stopped us from adding more great fintech programming!

We're excited to share that our Fintech Treks are back 🚀

This year, from October 18th to 20th, we'll be taking a group of 30-50 fintech enthusiasts to fully immerse in the Mexico City fintech ecosystem. We'll be working with our partner Quona to bring together founders, investors, executives, and fintech leaders in LatAm's fintech capital.

👉 Interested in joining? Let us know in our Attendee Application Form here.

👉 ¿Interesado ? Háganos saber en nuestra solicitud aquí.

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

FT Partners published its Q2 2023 FinTech Insights -

“After six straight quarters of decline, total global fintech deal activity volume across financing, M&A and IPOs increased sequentially in Q2 2023, primarily driven by an uptick in $1 billion+ M&A deals led by both strategics and sponsors. Moreover, momentum around FinTech M&A appears to be continuing into Q3 as more than half of all $500 million+ deals in 2023 YTD have been announced in June and July.”

For a deeper dive into the state of the Q2 financing market, check out Signals Q2’23: Every fintech will be an AI company.

💸 Venture Financing

1. OneTrust, which helps financial services companies manage privacy, security and governance requirements, raised a $150 million round at a $4.5 billion valuation, a 12% drop from its prior $5.1 billion Series C valuation.
2. Bunq, a Dutch neobank (and the second-largest in the EU), raised €44.5 million at a valuation of €1.65 billion to power its expansion into the US. The bank recently passed 9 million users.
3. Croissant, a fintech e-commerce platform that offers customers a guaranteed buyback value at checkout, raised $24 million.
4. Finicast, a financial forecasting software for SaaS companies, raised $12.8 million in seed funding.
5. Giraffe, a personalized impact investing platform for employees, raised a $10.5 million seed round.
6. eflow Global, a UK firm which provides financial services groups with software to help them comply with their regulatory requirements, raised a £7 million Series A.
7. Portrait Analytics, a generative AI research platform for investment analysts, raised a $7 million seed and announced a prior $3 million pre-seed.
8. Bunker, a Singaporean financial analytics platform, raised a $5 million seed round.
9. Effectiv, a developer of AI tools for fraud detection, added $4.5 million to its seed raise.
10. Licify, a LatAm procurement and financial software startup for the construction industry, raised $3.4 million.
11. Bloom Money, a UK provider of digital financial management to ethnic communities, raised £1 million.
12. Superfi, a UK-based debt prevention platform, raised a $1 million pre-seed.

Trading platform eToro has also created an actively-rebalanced public fintech index, consisting of Block, Lemonade, Adyen, Xero, Stone, Nexi and SoFi.

💵 Debt Financing

• Kuflink, a UK peer-to-peer lending platform, secured a £35 million lending facility.
• Salmon, a point of sale and cash-based lender, raised $20 million in venture debt from Argentem Creek Partners.

Pssst - if you like early-stage fintech investing, come join our angel syndicate.