This Week in Fintech (12/18)

Hello Fintech Friends,

If you missed it, we now feature all our international sections in the main newsletter!

Michael on fintech in the UK and Europe
Christine on fintech in Latin America
Osborne on fintech in India and Asia
Ben on fintech Policy

Please find another week of fintech financings and exits below.

Editor’s Note: If you’re an early-stage startup founder raising equity or debt, we may be able to help - please see our primer for more details and reach out to nik@thisweekinfintech.com.

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💼 Open Role Spotlight

Come find your place on the team at the most inspiring fintech startups! Browse open roles on This Week in Fintech’s job board.

💸 Venture Financing

NYDIG, which provides bitcoin and crypto services to financial institutions, raised $1 billion at a $7 billion valuation.
Anchorage Digital, a crypto custody provider for banks, raised a $350 million Series D at a $3 billion valuation.
Aspiration, the sustainability-focused neobank, raised $315 million ahead of its pending SPAC.
Tyme, a South African digital bank, raised a $180 million Series B.
Open Co, a Brazilian consumer credit provider (general credit card interest rates neared 300% in Brazil), raised $115 million.
Ledn, which provides digital asset savings and a crypto-backed mortgage, raised a $70 million Series B.
Taxdoo, a German provider of financial and tax compliance tools for businesses, raised a $64 million Series B.
Clarity AI, which provides sustainability capital allocation software, raised $50 million at a $450 million valuation.
Ramp, a UK crypto infrastructure and on / off-ramp, raised a $52.7 million Series A.
Mesh Payments, a corporate credit card and payments provider, raised a $50 million Series B.
Papaya, a mobile bill payment tool, raised a $50 million Series B.
Flip, an Indonesian money transfer platform, raised a $48 million Series B.
Stocktwits, a social platform for investors, raised a $30 million Series B at a $210 million valuation.
Staircase, a mortgage marketplace, raised an $18 million Series A.
Silverflow, a Dutch payment processing startup, raised a $17 million Series A.
iDonate, a digital payments platform for charities, raised a $15.2 million Series B.
Stark Bank, a Brazilian neobank for enterprise accounts, raised $13 million.
Bumper, a UK auto lender, raised $12 million Series A.
CreditBook, a Pakistani small business banking platform, raised an $11 million pre-Series A.
Quo, a mortgage qualification startup, raised a $7.2 million seed round.
Level, a flexible credit service for independent contractors, raised $7 million.
JustiFi, a fintech orchestration platform, raised a $6.6 million seed round.
Instant Factoring, a Romanian microfinance lender, raised €6.3 million.
Factor, a supply chain payment and order management platform, raised $6 million in seed funding.
Haystacks, a data aggregation platform for real estate investment underwriting, raised a $5 million seed.
topi, a B2B payment startup, raised a $4.5 million pre-seed.
Whym, a conversational checkout solution, raised a $4.3 million seed round.
Router Protocol, a cross-chain defi order routing solution, raised $4.1 million.
Sperta, a fintech fraud and risk management service, raised $3 million in seed funding.
Tractiv, a data distribution and monitoring platform for open banking, raised $2.25 million in seed funding.
Re:cap, a German revenue-based financing platform, closed a $111.5 million round comprised of seed funding and lending capital.
Transflo, which builds payment tools for the transport sector, raised funding.
FNZ, a digital wealth management platform, is in talks to raise up to $1 billion.

💰 Venture Funds

Anthemis, a women-led fintech venture fund, raised $700 million to invest in embedded finance.

☯️ Exits

Private equity exit trends over the last 20 years. (Source)

💻 IPOs & SPACs

Redpoint’s Emily Man keeps putting out great fintech overviews. Check out her latest, Looking Back at the Fintech IPOs of 2021.

(Interestingly, over half the companies that have gone public this year have dropped below their offering price.)

Justworks, which provides employee payroll, benefits, and HR services, filed for IPO.
The Fintech Acquisition Corp VI SPAC is looking into bringing African telco Econet Global public.
Rezolve, a UK e-commerce platform that is… now billing itself as a mobile payments platform… will go public at a $2 billion valuation through a combination with Armada Acquisition Corp. I.

(Source: Emily Man / Redpoint / Bloomberg)

🤝 M&A - Fintech

Orix, a Japanese financial services group, is selling its accounting software Yayoi to KKR for $2.1 billion.
Private equity firm Parthenon Capital will buy credit rating agency Kroll for $900 million.
Payment transmitter MoneyGram received a buyout offer around its $700 million market cap from private equity shop Madison Dearborn.
Financial services marketplace MoneyLion, which has an $880 million market cap, will acquire Even Financial for $440 million.
Ebanx, a Brazilian payments provider, acquired money transfer firm Remessa Online for $229 million.
UK small business lender OakNorth is acquiring cashflow forecasting app Fluidly.
Payments enablement firm Flywire announced that it will acquire UK secure payment software WPM.
Robinhood acquired cross-exchange crypto trading platform Cove Markets.
Investment platform TIFIN acquired financial education platform Investors Alley.

🏦 M&A - Bank and FinServ

Citizens Financial Group, a New York-based bank, will acquire tech investment bank DH Capital.
Atlanta bank Ameris Bancorp will buy fintech lender Balboa Capital.
Bank of Montreal is interested in buying BNP Paribas’ US arm.