Hello Fintech Friends,

I end this year with one message for you: fintech is coming back.

Companies are rushing out their press releases before the holidays, and we end this week with two mega-rounds worth a combined $650 million for Udaan and SumUp, out of 31 total fintech fundraises announced this week.

Interestingly, most of the investing activity in fintech is coming from outside the US currently.

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

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If you’re an early-stage startup founder raising equity or debt, we may be able to help - come check out our fund, The Fintech Fund (including a link to pitch us). Are you a fintech angel investor? Come join our syndicate.

📊 Stat of the Week

Cash usage in the UK grew for the first time in a decade, as consumers feel the pinch from the cost-of-living crisis on their wallets. Coins and banknotes made up 19% of transactions in 2022, up 15% from 2021.

💸 Venture Financing

1. Udaan, an Indian e-commerce platform that helps businesses secure inventory and working capital, raised $340 million from UK retail bank M&G.
2. SumUp, a point-of-sale payment provider to 4 million small businesses across Europe, raised €285 million.
3. Aye Finance, an Indian startup that offers digital lending to small firms, raised $37.18 million.
4. Andalusia Labs, a risk assessment platform for digital currencies formerly known as RiskHarbor, raised a $48 million Series A.
5. Kapital, a tech provider to global banks, raised $40 million in Series B equity and $125 million in debt.
6. GFO-X, a digital asset trading and options platform, raised a $30 million seed round.
7. Lendo, a Shariah-compliant debt crowdfunding marketplace based in Saudi Arabia, raised a $28 million Series B.
8. Pivot, a French procurement software startup that integrates with companies' existing financial stacks, raised a €20 million Series A.
9. Meniga, a digital banking solutions provider, raised a €15 million Series D from banks including Groupe BPCE and Crédito Agrícola.
10. Aria, a French invoice finance and business-to-business digital payments provider, raised a €15 million Series A.
11. Dynamic Labs, an authorization platform for web3 transactions, raised $13.5 million.
12. Prometeo, a Uruguayan banking infrastructure builder, raised a $13 million Series A.
13. Curbwaste, a SaaS software and payments provider to the waste management industry, raised a $10 million Series A.
14. Nonco, an institutional digital asset brokerage firm, raised $10 million.
15. Lolli, a bitcoin and cashback rewards application, raised an $8 million Series B.
16. Hyperplane, a startup building foundation models to help banks predict customer behavior, raised $6 million.
17. Noetica, a software platform that benchmarks corporate debt transactions, raised a $6 million seed round.
18. Yoii, a Japanese revenue-based financing platform, raised a $5.5 million Series A.
19. Pave Bank, a Singaporean provider of a programmable bank service, raised a $5.2 seed round.
20. Comun, a neobank that provides banking services customized to the needs of Latino immigrants, raised $4.5 million.
21. Salv, an Estonian anti-fraud platform, raised €3.9 million ahead of its UK launch.
22. Stairs Financial, a financial support platform for first-time homebuyers, raised $3.5 million.
23. Binkey, a fintech helping businesses accept FSA and HSA payments, raised a $3.3 million seed round.
24. SupportPay, a platform for parents to easily manage and exchange child support, shared expenses, payments, raised $3.1 million.
25. Paynest, a one-stop-shop financial wellbeing platform for employees, raised a €2 million seed round.
26. Cents, an Italian impact and ESG-focused fintech, raised a €1.15 million pre-seed.
27. Prosper, a UK wealth management platform, raised £1 million via crowdfunding.
28. Bankbox, an Egyptian banking software platform for ATM management, transaction monitoring, POS and soft-POS electronic payment machines, payment gateway, and anti-fraud systems, raised funding.
29. Icon Solutions, a UK microservices orchestration and payment provider, raised strategic funding from Citi.
30. Supra, a Colombian cross-border payments and treasury services provider for small and medium-sized businesses, raised funding from Citi.
31. CINC, a provider of accounting, homeowner management, bank integrations and payments software for the association management industry, secured strategic capital from Hg.

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