Fundraises

One-third of last week's European funding went to fintech (TWIF 2/17)

Hello Fintech Friends,

We hosted a great dinner last week in New York with our friends at Company Ventures and Emigrant Venture Partners. I can't wait for the next one – which great operators, rising stars, and new founders in NYC shoud we invite next?

This week saw 25 new fintech fundraises – the market is starting to wake up.

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

📊 Stat of the Week

American consumers lost over $10 billion to financial fraud in 2023, up 14% from the year prior.

Investment into early-stage fintech deals fell to levels not seen since 2016 last year, but venture firms are confident that deals will rebound in 2024 – especially given fintech deals accounted for over 1/3 of the €745 million raised by European tech companies last week.

💸 Venture Financing

Finom, a Dutch small business-focused neobank (below), raised a €50 million Series B.
Bold, an electronic payments infrastructure builder in Colombia, raised a $50 million Series C.
Rasa, a conversational AI that powers virtual assistants for two of the world's top three banks, raised a $30 million Series C from backers including PayPal.
PatientFi, a financing platform to help patients pay for out-of-pocket procedures, raised $25 million.
Duetti, a music rights financing and purchase provider, raised $15 million in equity and secured a $75 million credit facility.
Navro*, formerly known as Paytrix, raised $14 million in its Series A.
Architect Financial Technologies, a Robinhood-type investing platform for sophisticated traders built by the ex-President of FTX, raised $12 million in seed funding.
Fordefi, a crypto wallet-as-a-service provider, raised a $10 million seed extension.
Exponential Markets, a builder of tradable financial instruments designed to offer new levels of hedging capabilities and risk management, raised just over $10 million in strategic funding from backers including Citi.
FlowFi, a startup creating a marketplace of finance experts for entrepreneurs, raised $9 million in seed funding.
Anatomy, the builder of AI-powered financial automation solutions for medical, dental, digital health, and healthcare billing, raised $7.6 million.
Rogo, a generative AI lawyer for bankers and analysts, raised a $7 million seed round.
Superform Labs, a yield marketplace for DeFi, raised a $6.5 million seed round.
Mia Share, a payments platform for trade schools, raised $6.5 million.
Omega, a Layer 1 infrastructure builder that allows bitcoin holders to generate yield from their holdings, raised $6 million.
Sibli, a startup using AI to help asset managers in the investment research process, raised a $4.5 million seed round.
Cascading AI, an embedded loan origin system for banks built with AI, raised a $3.9 million pre-seed.
Techreo, a Mexican financial services provider to the underbanked, raised $3.4 million.
Ribbon, a startup that helps banks automate inheritance claims, raised a $2.7 million pre-seed round.
RealReports, a provider of property financial and transaction data to the real estate market, raised a $2 million seed round.
Kema, a Dubai-based provider of B2B payments and invoice-to-cash processing, raised a $2 million pre-seed.
Parlay, which helps small businesses qualify for bank loans, raised a $1.3 million pre-seed.
Bitwala, a German instant bitcoin and ethereum trading app, raised funding.
ClearOne Advantage, a Baltimore-based debt resolution services provider, received a private equity investment.
Mission Lane, the consumer credit card startup that originated from lender LendUp, reportedly raised a $50 million insider equity round.

💵 Debt Financing

Pagaya, which enables financial institutions to expand access to more customers through its artificial intelligence network, secured a $280 million credit facility from backers including Blackrock, UBS, and JP Morgan Chase.
Canadian corporate card and expense management provider Float raised a $50 million credit facility from SVB.