Hello Fintech Friends,

What fintech funding slump? This week, LatAm's Cloudwalk is raising up to $400 million, CB Insights revealed that Q2 fintech funding jumped 19%, Human Interest raised $267 million, Aven pulled together a $142 million Series D, Stripe sold shares at a $70 billion valuation, and there were 32 new fintech fundraises announced.

We're excited to share that Coast, one of our portfolio companies at The Fintech Fund, was one of those 34. Coast is providing a full expense management platform for fleets (think Brex / Ramp) and the transportation sector. The company raised its $40 million Series B this week, a few months after a $25 million Series A. We've known founder Daniel Simon since his days founding Bread (the last fintech startup he sold for $500 million), and were excited to back Coast from the beginning. You can check them out at coastpay.com.

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

Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

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📊 Stat of the Week

Fintech funding rebounded 19% in Q2 to hit $8.9 billion, per CB Insights. (This was led by $600 million just to Stripe and AlphaSense.)

I would also like to shout-out the new TWIF Index, established by Jevgenijs Kazanins, which we will keep updated to track the performance of public fintech companies:

💸 Venture Financing

• Stripe, the global payments processor, will sell up to $861 million in secondary shares to investor Sequoia at a valuation of $70 billion (up from $55 billion one year ago).
• Human Interest, a startup that helps small companies set up 401(k) services, raised $267 million in new funding at a $1.33 billion valuation.
• Aven, a startup offering consumer credit cards backed by home equity, raised a $142 million Series D.
• Matera, a Brazilian company that provides instant payment, QR code payment and core banking software to financial institutions, raised $100 million to expand into the US.
• Partior, a joint venture between DBS, JP Morgan and Standard Chartered aimed at establishing unified blockchain-based interbank payment rails for instant clearing and settlement, raised a $60 million Series B.
• Coast, a financial services platform for the future of transportation, raised a $40 million Series B.
• Slope, a business-to-business payments platform for enterprise companies, raised a $30 million venture round and a debt facility from JP Morgan.
• Tapi, an Argentine payments processor for consumer-facing platforms, raised a $22 million Series A to expand into Mexico.
• Allium, which provides blockchain data for institutions like Visa, Stripe, Uniswap Foundation, and Phantom to power their applications, raised a $16.5 million Series A.
• Adaptive, which provides payment and banking tools for the construction industry, raised a $19 million Series A.
• ZAP, a token distribution protocol built on the Ethereum Layer 2 network Blast, raised $15.1 million.
• Dopay, an Egyptian neobank providing banking to unbanked consumers, raised a $13.5 million Series A extension.
• Carry, which provides tax efficiency solutions for business owners, raised a $10 million Series A.
• Los Andes, a Peruvian financial services provider to rural communities, raised $10 million.
• Adfin, a British startup to help companies get their invoices paid more easily, raised $4.9 million in seed funding.
• Caliza, which provides an API and front-end payment system to use crypto stablecoins in cross-border payments, raised $8.5 million.
• Zivoe, a Real-World Asset credit protocol, raised $8.35 million.
• Haruko, a British digital asset technology solution for institutions, raised $6 million to expand into Southeast Asia.
• Wamo, a Finnish startup that provides small businesses with services including cross-border payments and physical and virtual cards, raised $5 million and secured an e-money license.
• Mifundo, an Estonian startup building an AI-based data platform to enable the transfer of credit profiles across borders, secured €2.5 million in grant funding.
• Arvo Tech, a tax credit-as-a-service platform, raised a $2.5 million Series A.
• Bima Labs, a bitcoin-based stablecoin developer, raised a $2.25 million seed round.
• Jeff App, a Latvian financial marketplace operator for financial inclusion, raised a $2 million seed round.
• Astor, an app that takes a ‘community’ approach to financial advice in order to help women feel more confident about investing, raised $1.4 million.
• Maalexi, a UAE-based agriculture-focused fintech, raised $1 million in venture debt.
• Aprio, an accounting firm, raised an undisclosed amount via a private equity round.
• Revolut, the global neobank, is exploring a secondary sale of up to $500 million in shares with Tiger Global at a $40 billion valuation.
• CloudWalk, a Latin American fintech company that provides payments products for small and medium businesses, is in the process of raising up to $400 million at a valuation up to $4 billion, assisted by Financial Technology Partners.
• Auxilo Finserve, an Indian student lending fintech, is currently raising ₹2.79 billion ($33 million) to grow its student loan portfolio.
• OneCarNow, a Mexican fintech company providing vehicles and financial services to gig workers, raised $86 million in combined equity and debt.

💵 Debt Financing

• Octane Lending, a startup that provides personal loans for recreational purchases, closed a $365 million securitization collateralized by its fixed-rate installment powersports loans.

💰 Venture Funds

• UK venture fund 13books Capital raised a new £121 million fund to invest in the founders building tomorrow’s fintech businesses.

Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

Want to sponsor a newsletter? See our sponsorship information here.

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