Mexican neobank Stori raises $105M in equity, hits 3M customers (TWIF 8/10)

Boys with Boom Box, 14th Street, New York, 1983

Hello Fintech Friends,

Live in NY or visiting for Finnovate Fall? We are excited to invite you to an exclusive happy hour event hosted by This Week in Fintech, in collaboration with our friends at Codat, Taktile and Finley.

Join us for an evening of great conversations and networking with founders, executives and investors in the Fintech industry. Come hang out and enjoy refreshing drinks and light bites at the Sandbar Rooftop at 152 W 26th St on Tuesday, September 10th at 6pm.

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

Interesting datapoints on US consumer banking from @JonahCrane:

📱 Half of consumers have at least 3 mobile financial apps on their phone.

💸 Half of new bank accounts are opened at digital banks/fintechs.

📈 PayPal and Chime account for 20% of all new account openings.
— Nik (@NikMilanovic) August 4, 2024

Fintech venture funding reports continue to show mixed results. Per KPMG, total global investment in fintech fell from $62.3 billion across 2,287 deals in H2’23 to $51.9 billion across 2,255 deals in H1’24. (Source)

💸 Venture Financing

CloudPay, an independent provider of global payroll and payment solutions, raised $120 million.
Stori, a Mexican neobank and credit platform for underserved consumers, raised $105 million in new equity and $107 million in debt.
Morpho, a decentralized crypto lending protocol, raised $50 million.
Octane, a fintech lender for purchases releated to recreational purchases, raised a $50 million Series E.
Savvy Wealth, a platform for financial advisors to provide better, modern human financial advice, raised a $15.5 million addition to their Series A, raising the total to $26.5 million.
HouseAmp, a software platform that helps homeowners get access to funds to get their house ready to sell, raised $12.4 million.
Chariot, a donor-advised fund payments company, raised an $11 million Series A.
Rich Data Co., an Australian firm building a decisioning platform for business and commercial lenders in North America, raised A$9 million (about $5.9 million).
Zoth, a decentralized finance real-world assets startup, raised $4 million to launch a Tokenized Liquid Note.
Mintos, a European alternative investment platform, raised €3.1 million through a crowdfunding campaign.
HubiFi, a provider of a financial intelligence and revenue recognition app, raised a $2.5 million seed round.
stabble, a Solana-based frictionless liquidity and trading layer, raised a combined $2.5 million pre-seed and seed.
Hyperbots, an Indian accounting and machine learning platform, raised $2 million in seed funding.
Climatize, an SEC-registered climate-driven impact investing platform, raised a $1.75 million pre-seed.
Qardy, an Egyptian digital lending marketplace, raised a $1 million pre-seed.