This Week in Fintech (2/5)

Hello Fintech Friends,

Thanks to the Lend Academy team for profiling our new fund this week!

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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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“The Bank for International Settlements, meanwhile, calculates that in the decade between 2010 and 2020, fintech companies attracted more than $1 trillion in new backing.” - Wall Street Journal

“The safekeepers of crypto assets are attracting billions of dollars from investors betting that the influx of Wall Street players into digital markets will lead to a surge in demand for custody services.” - The Financial Times

💸 Venture Financing

FTX, the digital currency exchange, raised a $400 million Series C at a $32 billion valuation.
Chargebee, a recurring billing platform, raised $250 million at a $3.5 billion valuation.
KOHO, a Canadian personal savings and prepaid card startup, raised a C$210 million Series D.
Ramp, the corporate card startup, is reportedly raising $200 million at an $8 billion valuation.
Trust Machines, a platform for leveraging bitcoin as a settlement layer, raised $150 million.
Wayflyer, an Irish lender to e-commerce merchants, raised $100 million at a $1.6 billion valuation.
PalmPay, an African payments and financial services app for merchants and consumers, raised a $100 million Series A on the back of 5 million (claimed) users.
Tribal *, which is building a suite of b2b payments and corporate banking products - including crypto - for emerging markets, raised a $60 million Series B.
Bold, a Colombian digital payments provider, raised a $55 million Series B.
Happy Money, an unsecured lending company, raised a $50 million Series D.
Mos, a neobank for student loans, raised a $40 million Series B at a $400 million valuation.
Jar, an Indian savings and investing app, raised a $32 million Series A.
OpenGamma, a firm for analyzing derivatives portfolios, raised $21 million.
Codoxo, a healthcare payment integrity provider, raised a $20 million Series B.
Bamboo, a Nigerian investment app, raised a $15 million Series A.
Ayoconnect, an Indonesian open banking platform, raised a $15 million Series B.
First Dollar, a healthcare wallet, raised a $14 million Series A.
Circula, a German corporate employee finance app, raised a €12 million Series A.
BillHop, a Swedish B2B payments startup, raised a €10.5 million round.
Bizi, an Israeli platform for small business credit lines, raised a $7.5 million seed.
Nestcoin, which builds web3 apps for decentralized finance in emerging markets, raised $6.5 million in seed funding.
Pluto, a corporate card for the Middle East, raised a $6 million seed.
CoinLedger, a tax-reporting platform for crypto, raised $6 million.
R2, a Latin American embedded lender for small businesses, raised a $5.9 million seed round.
LemonEdge, a low-code accounting platform, raised $4 million.
ICHI, a Japanese provider of defi tooling, raised $3.5 million.
NachoNacho, a fintech platform for… buying Saas? raised $3 million in seed funding.
Flexio, a B2B payments platform, raised $3 million in seed funding.
Method, which is building one-click debt liability repayment, raised a $2.5 million pre-seed.
Pay Theory, a developer of inclusive financial solutions, raised a $2 million seed round.
Etcho, a sustainable development goal-linked investment app, raised £279,000.
Bold Finance, a low-income personal finance manager for India, raised a pre-seed.
SiFi, a Saudi expense management and visibility app, raised a seed round.

💵 Debt Financing

Moove, a Nigerian fleet vehicle financing and mobility service, raised $10 million in debt.

☯️ Exits

💻 IPOs & SPACs

Zepz - the cross-border currency service formerly known as Worldremit - is prepping for an IPO that would value it at around $6 billion.
Prime Number Acquisition I, a financial services SPAC, filed for a $60 million IPO.

(Source: F-Prime Capital)

🤝 M&A - Fintech

Private equity firm Advent is considering a $1 billion investment in India’s Yes Bank, which is working with the country’s central bank after facing a run on deposits in 2020.
Silvergate Capital, a bank, purchased Facebook’s Diem assets for $182 million.
German banking-as-a-service platforms Solarisbank and Contis are merging into one provider.
Rapyd, a white-labeled fintech provider, acquired Hong Kong-based Neat, a cross-border trade platform.
B2B buy-now-pay-later platform Biller was acquired by Banking Circle Group.
German stock settlement system Euroclear acquired a stake in Greenomy to build environmental reporting.
Littlejohn & Co. sold cash automation technology Tidel to Sesami Cash Management.
Northmill, a Swedish neobank, acquired B2B payments provider Moreflo.
Crypto exchange FTX is buying its Japanese rival Liquid to move into Asia.
Ethereum group Consensys acquired wallet interface MyCrypto.
Block officially completed its Afterpay acquisition.

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