Fundraises

Monzo raising at a £4 billion valuation (TWIF 2/24)

Breckenridge, CO

Today's writeup brought to you by Destiny.xyz.

Hello Fintech Friends,

🎧 If you didn't get a chance to listen to Julie VerHage-Greenberg's great interview with FT Partners' Steve McLaughlin and Bain Capital Ventures' Matt Harris, the first of our Fintech OG series, give it a listen!

🍻 For those of you coming to Fintech Meetup and New York Fintech Week, will we see you there?

doing things the right way matters
— Nik (@NikMilanovic) February 17, 2024

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

The amount US financial institutions have loaned to shadow banks such as fintechs and private credit groups has passed $1 trillion (source).

Interesting new data from Pitchbook, presented by Fortune, shows that enterprise fintech soaked up about 70% of VC funding in the space in 2023. “Consumer fintech is especially going through a pullback as enterprise fintech soaks up whatever venture dollars are out there–in 2023, enterprise fintech startups secured 70.1% of fintech venture capital, up from 40.6% in 2019.”

💸 Venture Financing

Eigenlayer, a DeFi service that provides developers with access to the Ethereum staked capital base and decentralized validator, raised $100 million.
Simetrik, a provider of B2B CFO tooling (pictured below), raised a $55 million Series B.
Napier, a UK provider of AI-enhanced financial crime and regulation technology, raised £45 million.
Dub, a copy-trading platform that allows everyday investors to replicate the portfolios of emerging investment managers, raised $17 million of seed funding, including $2 million of venture debt.
Zūm Rails, a profitable montreal-based payments platform that seeks to merge open banking with instant payments, raised a C$10.5 million Series A.
Tifin, an AI-powered technology businesses in the asset and wealth management industry, raised $10 million.
Pulsate, a provider of mobile-first engagement solutions that deepen digital banking relationships, raised a $7.75 million Series A.
Blueprint Finance, the builder of an on-chain credit market, raised $7.5 million.
Eli Technologies, a startup helping with home electrification financing, raised a $6.8 million seed round.
Monite, a German embedded payments provider, raised $6 million.Dan
spektr, a Danish due diligence platform for investors, raised a €5 million seed round.
FinPilot, an AI fintech platform for financial analysts, raised $4 million in seed funding.
Atlas, a tool to help global companies to manage their contractor benefits from one place, raised a $2.75 million seed round and extension.
Citrea, a development platform built on top of bitcoin, raised a $2.7 million seed.
Buildstock, a B2B marketplace and fintech platform for construction materials, raised a $1.6 million pre-seed.
Exponential Markets, which creates derivatives to protect investors from volatility, raised strategic funding from Citi.
Pave, a credit-scoring and attribute platform for lenders, raised money from Ark.
Januar ApS, a financial infrastructure provider for crypto businesses, raised a seed extension.
Seccl, an embedded investment platform, raised additional funding from Octopus as founders Dave Harvey and Hugo Thorman left the business.
Monzo, the UK neobank with 9 million customers, is raising as much as £350 million of new funding funding at a valuation between £3.5 and £4 billion.