Hello Fintech Friends,

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It remains to be seen what kind of effect the current market turbulence has on fintech fundraising ambitions and outcomes. As businesses and consumers scale back their planned spend, we may see venture funds similarly cool down from writing new checks.

What we are excited about is the news of Stitch's* $55 million Series B. Stitch is an African open banking end-to-end business payments platform, and their Series B is one of the larger recent African fintech rounds, with new backers like Flourish Ventures and returning fintech regulars like Ribbit Capital.

Please find another week of fintech financing events below.

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

Pontus is what the Big Four won't tell you exists: no decks, no junior consultants, no vaporware. We help Global 2000 executives automate manual work across finance, legal, and HR—turning cost centers into value drivers. You only pay if it works.

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📊 Stat of the Week

💸 Venture Financing

• Marshmallow, a UK-based insurtech, secured €79 million (approximately $84 million) to expand its motor insurance offerings for newcomers to the UK.
• Luma Financial Technologies, a structured financial products platform, closed a $63 million Series C round.
• iCreditWorks, a U.S. point-of-sale lender, raised $60 million to enhance its consumer financing platform.
• Stitch*, a South African payments infrastructure provider, secured $55 million in Series B funding to expand its end-to-end payment solutions.
• Crux, a climate finance startup, completed a $50 million Series B round to scale its clean energy tax credit marketplace.
• Toku, a Latin American receivables automation platform, raised $48 million in a Series A round.
• Onfly, a Brazilian travel tech and corporate expense management provider, obtained $40 million in Series B funding to enhance its corporate travel solutions.
• Tapcheck, a U.S. earned wage access provider, secured $25 million in Series A equity and $200 million in debt financing to expand its financial wellness offerings.
• BKN301Group, a digital banking-as-a-service provider, raised €21.5 million (approximately $23 million) in Series B funding to support its global expansion.
• Meadow, a platform for financial assistance to university students, raised a $14 million Series A.
• Vinyl Equity, a digital stock transfer agent, raised $11.5 million in seed funding to modernize equity management for public companies.
• Blue Onion, a financial data infrastructure startup, obtained $10 million in Series A funding to build tools for CFOs.
• Resolv Labs, a yield-bearing stablecoin provider, raised $10 million in seed funding.
• Friday Harbor, an AI-powered mortgage origination platform, secured $6 million in seed funding to streamline loan processing.
• Glider, a crypto investment platform, raised $4 million in seed funding.
• Assiduous, a Dublin-based fintech, obtained €1 million (approximately $1.1 million) to simplify corporate finance for SMEs through its AI-enabled platform.
• Wealth.com, an estate planning platform, received a strategic investment from Charles Schwab.

💵 Debt Financing

• Plum, a UK-based perfonal financial management app, secured £15 million in venture debt from BBVA to accelerate its growth across Europe.
• SoFi announced a $2 billion extension of its Loan Platform Business agreement for personal loans with Fortress Investment.

Pontus is what the Big Four won't tell you exists: no decks, no junior consultants, no vaporware. We help Global 2000 executives automate manual work across finance, legal, and HR—turning cost centers into value drivers. You only pay if it works.

Reserve Discovery

Want to sponsor a newsletter? See our sponsorship information here.