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The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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Ramp brings in another $300 million in funding (TWIF 8/26)

Ramp brings in another $300 million in funding (TWIF 8/26)
DM

Hello Fintech Friends,

Signals: LatAm SMBs struggle to access capital. Is that a market opportunity?
Small-to-midsize businesses in Latin America and the Caribbean are flourishing. SMBs account for about one third of the region’s GDP, employ roughly 70% of the official labor force and represent one of the fastest-growing segments of the economy. Collectively, LatAm SMBs have grown to $2-$3 trillion…

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

Klarna reported that GMV was up 14% across Europe in the last quarter, and up 26% in the UK. (Source)

💸 Venture Financing
  1. Ramp, the corporate card and spend management provider, raised $300 million at a $5.8 billion post-money valuation.
  2. Korea Credit Data, a South Korean small business-focused financial services provider, raised ₩100 billion ($76 million) at a ₩1.3 trillion ($983 million) valuation.
  3. Nomad, a Brazilian fintech which provides users with US-based bank accounts, raised $61 million at a $361 million valuation.
  4. LemFi, which provides banking and remittance services to African immigrants in the US, raised a $33 million Series A.
  5. Bushel, a platform that provides financing and marketplace tools to farmers and agribusinesses, raised $26 million.
  6. Koverly, a cash-flow management platform for businesses participating in international commerce, raised $7.6 million.
  7. Translucent, an accounting platform for international businesses, raised £5 million in seed funding.
  8. Maple Finance, a blockchain-based credit marketplace, raised $5 million.
  9. ScribeUp, an automated subscription management tool, raised $3 million.
  10. Communion, a UK app designed to encourage savings, raised £2.5 million.
  11. Micronotes, a cloud-based big data, analytics, and digital engagement solutions provider to financial institutions, raised a $2 million Series C extension.
  12. Pi-xcels, a Singaporean software firm that uses NFC to process digital rich receipts, raised $1.7 million.
  13. Craftgate, a Turkish payments orchestration platform, raised £1 million.
  14. Circle, the USD stablecoin provider, received a strategic investment from Coinbase.Zanifu, a Kenyan fintech providing inventory financing to small businesses, raised $11.2 million in combined equity and debt.
  15. Swiss fintech venture capital firm Tenity invested in 11 new startups.

Investment in Canadian fintech companies dropped from $1.09 billion in the second half of 2022 to $354 million in the first half of 2023 (a 67% drop). Irish fintech funding slowed down as well: from 9 deals that raised $742 million in the first half of 2022, to 9 deals raising $59 million in 2023.

💵 Debt Financing
  • Klar, the Mexican consumer neobank, secured a $100 million credit facility from Victory Park Capital.

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