This Week in Fintech (1/8)

Hello Fintech Friends,

South and Southeast Asian fintech are on fire this week! Startups from Singapore, Bangladesh, Vietnam, India, and Indonesia all started the year with fundraises.

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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

Payfit, a UK-based payroll solution provider raised €254 million in Series E financing.
Petal, a consumer credit card provider for the underbanked (disclosure: where I worked), raised a $140 million Series D at an $800 million valuation.
Monzo, the UK neobank, raised an additional $100 million at a $4.5 billion valuation.
Sygnum, a defi asset management platform, raised $90 million at an $800 million valuation.
Spenmo, a Singaporean payables software, raised an $83.35 million Series B.
CHAI, a Southeast Asian end-to-end payment infrastructure provider, raised a $45 million Series B extension.
Alto, a platform for adding alternative assets to IRAs, raised a $40 million Series B.
ShopUp, a Bangladeshi merchant tool that includes payment services and capital, raised a $34 million Series B extension.
Goldfinch *, a defi lending protocol that forwards stablecoin debt capital to emerging markets fintechs, raised $25 million.
CellPoint Digital, a UK e-commerce payment solution, raised $25 million.
Rupifi, an Indian B2B payments platform, raised $25 million.
Brankas, an open banking startup for Southeast Asia, raised a $20 million Series B.
Timo, a Vietnamese neobank, raised a $20 million round.
Pine Labs, an Indian payment terminal provider, raised $20 million from the State Bank of India.
Arcade, an NFT-backed lender, raised a $15 million Series A.
Finexio, an accounts payable-as-a-service startup, raised $10 million.
Upbanx, an Indonesian financial services platform for content creators, raised a $5.2 million pre-seed round.
LiveFlow, an accounting data synchronization platform, raised $3.5 million in seed funding.
IMPESA, a Costa Rican financial software developer, raised $2.7 million.
Bfree, a Nigerian credit management startup, raised a $1.7 million pre-Series A.
Bink, a loyalty app, is receiving an investment from Lloyds Bank.

💵 Debt Financing

Tribal Credit raised $40 million in hybrid debt powered by dollars and Stellar’s stablecoin.

💰 Venture Funds

Ribbit Capital, one of the most well-recognized fintech venture firms, raised $1.15 billion for its seventh fund.

☯️ Exits

💻 IPOs & SPACs

FinTech Acquisition Corp. V announced that its proposed acquisition of eToro will go forward, but at a lower $8.8 billion valuation and with a 6-month delay.
Payroll and HR platform Justworks is targeting a $2 billion valuation at the top-end of its IPO range.
Banking fee-focused consumer finance platform Dave went public via a SPAC.

(Source: Fintech Business Weekly)

🤝 M&A - Fintech

Worldline completed its acquisition of Italian merchant acquirer Axepta.
Financial markets trade execution and data platform Pico announced its acquisition of market data provider Redline Trading. The combined entity will be valued at $1.4 billion.
International payments provider Moneygram bought a 4% stake in crypto ATM operator Coinme.
WonderFi, a Canadian platform democratizing access to defi, acquired crypto platform Bitbuy.
Market data provider S&P Global acquired climate risk data provider The Climate Service.
Private equity firm Corsair acquired a majority stake in SMB payments provider Aurora Payments.
Capital markets specialist Delta Capita acquired JDX Consulting.
Australian digital payments and lending firm Latitude will acquire BNPL provider Humm Group for A$335 million.

🏦 M&A - Bank and FinServ

Brazilian brokerage XP will buy Brazilian investment bank Banco Modal, valuing it at $529 million.
French bank Societe Generale's lending division will buy Dutch rival LeasePlan for €4.9 billion.

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