Hello Fintech Friends,

This week was a slower fundraise week for fintech, but lending software provider Kennek did raise a $12.5 million seed round, so there are still bonanzas out there if you look.

This Week in Fintech is excited to partner with Elementus to host their NY Tech Week product launch party on October 17th @ 6PM in SoHo. Click the image below to reserve your spot:

Our friends at Rainforest got the deep-dive treatment from TechCrunch's Mary Ann Azevedo...

Here’s how fintech Rainforest, a budding Stripe rival, aims to win over software companies | TechCrunch

Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week.

TechCrunchMary Ann Azevedo and Christine Hall

...while our own Julie VerHage-Greenberg wrote about the effects of Ozempic on payments:

Signals: Ozempic dishes out unexpected side effect

Toast’s restaurant payments could get burnt. Why America’s appetite for weight loss with Ozempic could hit Toast’s profits.

This Week in FintechJulie VerHage-Greenberg

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

Brazil's credit card interest rates are now capped at 100%, while new regulation lowers the average revolving interest rate to 446%. (Source)

💸 Venture Financing

1. Stash, a US consumer investing app, raised a $40 million convertible note from an existing investor as it preps for IPO.
2. Carefull, a financial safety platform that helps banks and wealth advisors protect aging customers from scams and money mistakes, raised $16.5 million.
3. Canopy Servicing, a fintech startup building software to facilitate loan servicing, raised a $15.2 million Series A1.
4. Alpaca, the stock-trading brokerage infrastructure provider, raised $15 million via a convertible note.
5. Untangled Finance, a blockchain platform for providing institutional-grade credit access, raised $13.5 million.
6. Kennek, an end-to-end operating system designed to streamline the operations for lenders, raised a $12.5 million seed round.
7. Lopay, a UK-based instant payment startup, raised £6 million in seed funding.
8. TransactionLink, a Polish, British, and German KYC and KYB automation provider, raised a €5 million seed round.
9. Parsec, an on-chain analytics platform for decentralized finance, raised a $4 million seed extension.
10.  Zest Equity, a United Arab Emirates-based company digitizing private market deals, raised a $3.8 million seed round.
11. Kodex, an AI-powered copilot to cater to the needs of financial service professionals, raised €1.6 million.
12. CrossFund, a Singaporean platform for secondary startup equity, raised $1.5 million at a $47 million valuation.
13. LUNA, an Indonesian embedded fintech and vertical SaaS platform for retailers, raised new funds.

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