Fundraises

SoFi Finalizes $5B Debt Deal with Blue Owl (TWIF 3/29)

Hello Fintech Friends,

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In another sign of continued improving health of the fintech market, business banking platform Mercury* announced their $300 million Series C, led by Sequoia, on the back of growth to 200,000+ business customers, $500 million in revenue in 2024, $156 billion in annual transaction volume, up 64% year-over-year, and 10 consecutive quarters of profitability. (Disclosure: I'm a small investor.)

Please find another week of fintech financing events below.

(👍👎 Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm)

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📊 Stat of the Week

B2B cross border payments volumes are ~$200tn annually, more than 20x the size of all other cross border payments combined, and 23% of SMBs already prefer to use non-bank/APM rails, a number that's only been growing and is clearly made better by moving onto stablecoin rails -… pic.twitter.com/Zp7tjZYsjz
— Rob Hadick ＞|＜ (@HadickM) March 26, 2025

💸 Venture Financing

TON Foundation, the blockchain used to power the growing number of mini apps that function within the Telegram's messaging app ecosystem, raised over $400 million through a token sale. The platform is rumored to be launching a stablecoin this year.
Mercury*, a banking services provider to over 200,000 businesses, secured $300 million at a $3.5 billion valuation.
Rogo, an AI startup focused on facilitating work for junior bankers, raised $40 million at a $350 million valuation.
Mendel, a Mexican corporate spend management startup, raised a $35 million Series B.
Capital Markets Gateway, a firm that connects sell-side firms and the buy side to provide workflow efficiencies throughout the entire ECM offering process, closed a $30 million Series C.
Rain, a company which issues credit cards that customers can settle in stablecoins, raised $24.5 million.
Edge Markets launched a banking platform for gamblers with a $17 million seed round.
RockFi, a French firm that bridges human expertise with digital innovation in private banking, secured €18 million.
Abound, a remittance app that was spun out of Times Internet in 2023, raised $14 million.
Paid, a new startup by Outreach founder Manny Medina, raised €10 million to help AI agents get paid.
Sympera AI raised $10 million in seed funding to help banks tap into a $150 billion SMB opportunity.
Enza, an African startup building infrastructure for banks and fintechs, offering a range of local payment solutions, from cards to wallets to real-time payments, secured $6.75 million.
Burbank raised £5 million to build and offer online tap and PIN payments.
Firenze, a wealthtech company, raised a £2.5 million seed round.
Squid, a loyalty platform, closed a €1.7 million crowdfunding round.
Nosible, an AI-driven stock market researcher, secured $1 million in pre-seed funding.

💵 Debt Financing

Personal lender SoFi finalized a debt agreement with Blue Owl Capital worth at least $5 billion to expand its loan platform business, aiming to diversify revenue streams towards less capital-intensive and more fee-based sources.
Abound, a British AI-powered credit technology firm, secured up to €300 million in financing from Deutsche Bank to enhance its ability to offer fairer, more affordable credit to UK borrowers, raising its total lending capacity to €1.9 billion.
Crypto payments firm MoonPay obtained a $200 million revolving credit line from Galaxy, providing financial flexibility to meet increased demand.

💵 Venture Funds

European fintech investor Incore Invest raised a new €25 million fintech investment fund.

Our biggest turnout yet for March’s Fintech Coffee with @SiliconVlyBank

New first - group of UCSD students came at 8:30am sharp off a tip from @michelleefang’s weekly blast - all looking for internships or founding companies.

See you in April https://t.co/m4VnPePC0P pic.twitter.com/918LhHYBwo
— Ryan Zauk (@RyanZauk) March 27, 2025

💡

Sponsored Content

Discover how modernizing payment systems can reduce hidden frictions in healthcare.

Visa’s latest whitepaper, "Untangling the Complexity of Payments in Healthcare," reveals key insights and strategies for improving efficiency and patient satisfaction.

Learn how Visa Direct can enhance payments and patient experiences by enabling real-time payouts using just the debit card number linked to your bank account. Download the report by Visa Direct.