This Week in Fintech (12/4)

Hello Fintech Friends,

Come see us at our Miami Fintech Happy Hour in Brickell next Wednesday (12/8) at 5:30!

And a huge, huge thank you to our Fintech Formal sponsors for their amazing support these last couple weeks.

Pre-IPO Sponsors: Cross River Bank and Fiserv
Series A Sponsor: Power
Seed Sponsors: Ant Group and Codat
Pre-Seed Sponsors: Better Tomorrow Ventures and Troop

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

Slice, an Indian credit card platform, raised a $220 million Series B.
Bunq, a Dutch neobank, raised a €193 million Series A at a €1.6 billion valuation.
Thought Machine, a UK core banking platform, raised a $200 million Series C.
Kueski, a Latin American buy-now-pay-later provider, raised $102 million in equity and $100 million in debt.
Fundbox, a small business lender and finance platform, raised a $100 million Series D at $1.1 billion valuation.
Mr Yum, an Australian mobile food delivery and payments platform (...is it really a payments platform? It looks like it just partners with and integrates other payments providers), raised a $65 million Series A.
PeopleFund, a South Korean peer-to-peer lending platform, raised a $63.4 million (75.9 billion won) Series C.
Simpl, the Indian buy-now-pay-later service and e-commerce payments provider, raised a $40 million Series B.
Solutions By Text, a compliant texting platform for consumer finance, raised $35 million.
Youtrip, a Southeast Asian multi-currency neobank, raised a $30 million Series A.
Endowus, a Singaporean roboadvisor, raised SGD $35 million.
Abacum, a financial planning software-maker, raised $25 million.
Fonoa, digital-first tax compliance business, raised a $20.5 million Series A.
Structure, a tokenized trading defi platform, raised $20 million.
Goalsetter, a financial education platform for kids, raised a $15 million Series A.
Mendel, a corporate spend management solution, raised a $15 million Series A and $20 million in debt.
Anchor, a B2B autonomous billing solution, raised a $15 million seed round.
24 Exchange, a platform building a round-the-clock equities exchange, raised $14.25 million.
Nudge, a Japanese neobank and credit card provider, raised a $10 million pre-Series A.
PostEx, a Pakistani SMB financing platform, raised a $7.1 million seed round.
Butter, a platform that prevents customer subscription payments failures, raised $7 million.
GajiGesa, a Singaporean earned wage access and payroll platform, raised a $6.6 million pre-Series A.
Gozem, a Togo-based app that offers financial services (alongside transport and e-commerce), raised a $5 million Series A.
Busha, a Nigerian crypto exchange, raised a $4.2 million seed round.
Jump, a payment and benefits platform for French freelancers, raised a €4 million seed round.
Algofi, a low-cost lending platform built on a stablecoin, raised a $2.8 million seed.
Jefa, a digital bank account provider for women in LatAm, raised a $2 million seed.
Bankifi, a mobile banking service, raised £500,000 from Co-operative Bank.

☯️ Exits

💻 IPOs

Nubank lowered its target IPO valuation to around $40 billion.

📈 SPACs

Southport Acquisition, a financial software SPAC, filed for a $200 million IPO.
Online mortgage platform Better received $1 billion of their cash infusion from SPAC acquirer Aurora Acquisition Corp before the deal closed and laid off 9% of their staff.
Grab shares traded down 20% in the SPAC’s first day of trading.
Brokerage core provider Apex ended its proposed merger with SPAC Northern Star Investment Corp. II.
American Express Global Business Travel will go public through a combination with a SPAC owned by private equity firm Apollo for a $5.3 billion valuation.

🤝 M&A - Fintech

British asset manager abrdn announced that it will acquire investing platform Interactive Investor for £1.49 billion.
Aqua Finance, a consumer lending platform, will be acquired by private equity firms Athene and Apollo for $1 billion.
Experian acquired Gabi, an insurance aggregator, for $320 million, and PagueVeloz, a Brazilian payments service, for $33 million.
Crowdfunding and investing platform Republic announced that it will acquire European private investing platform Seedrs at a $100 million valuation.
Transunion acquired security and ID verification company Sontiq for $638 million.
Moody’s acquired European KYC providers Passfort and 360kompany AG.
Crypto provider CoinShares will acquire French fintech platform Napoleon in order to expand to new markets.
One-click checkout provider Bolt acquired Tipser, a Swedish platform that enables checkout on any digital surface.
Arteria AI will acquire the assets of contract lifecycle management platform H4.
South African fintech platform Crossfin Technology Holdings was acquired by a consortium of investors for ZAR 1.5 billion ($93 million).
Russian neobank Tinkoff acquired a controlling stake in Jump.Finance, a fintech service that automates interactions with freelancers, including payments.
Wealth and asset management fintech platform TIFIN will acquire private market advisory firm Qualis Capital.
Investment operations service provider STP Investment Services acquired administrator Tower Fund Services.
UK private equity firm CVC dropped its $1.8 billion bid for Dutch financial services provider Intertrust.

🏦 M&A - Bank and FinServ

Capital One will acquire healthcare-focused investment bank TripleTree.
Private equity firm Apollo will acquire the wealth-distribution and asset-management businesses of alternative investor Griffin Capital.

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