Hello Fintech Friends,

We’re excited to share one of our latest investments from The Fintech Fund into Ponto, which is building the infrastructure for global crypto on/off-ramps and cross-chain trading, and which just announced their $20 million seed round!

Please find another week of fintech financing events below.

If you’re an early-stage startup founder raising equity or debt, we may be able to help - come check out our fund, The Fintech Fund (including a link to pitch us), see our primer on how we make introductions, and reach out to fund@thisweekinfintech.com.

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Fintech startups accounted for 17% of Israeli tech investments in 2021, and 23% of all Israeli IPOs and SPAC mergers.

💸 Venture Financing

• Cross River Bank, a provider of banking services to the fintech sector, is closing a $300 million round at a $6 billion valuation.
• Wasoko (fka Sokowatch), an African financing provider to local retailers, raised a $125 million Series B.
• Moove, an African financing provider for ride-hailing vehicles, raised a $105 million Series A2 to expand into Southeast Asia.
• Bazaar, a Pakistani developer of fintech solutions for e-commerce brands, raised a $70 million Series B.
• Multiplier, an Indian platform for remote work payroll, raised a $60 million Series B at a $400 million valuation.
• Kyash, a Japanese mobile financial app, raised ¥4.9 billion ($41.2 million), from backers including Block.
• Silent Eight, a Singaporean platform for financial institution compliance, raised a $40 million Series B, including from HSBC.
• EarnUp, a mortgage management system, raised a $31 million Series C.
• Encompass Corporation, a UK solution for ID / KYC, raised £25 million.
• Ponto *, an infrastructure builder for crypto trading and cross-chain money movement, raised a $20 million seed round.
• Shufti Pro, a KYC / ID provider for financial institutions, raised a $20 million Series A.
• AcreTrader, an Arkansas farm investing service, added $20 million to its Series B.
• 4G Capital, a Kenyan lender, raised an $18.5 million Series C.
• Doxo, an all-in-one bill payment platform, raised an $18.5 million Series C.
• Treehouse, a firm providing decentralized finance portfolio analytics, raised $18 million in seed funding.
• Wagely, an Indonesian earned wage access startup, raised $8.3 million to expand into Bangladesh.
• Stellar, a credit management and improvement app, raised $7 million.
• Payrails, a German operating system for financial services, raised a $6.4 million seed.
• Kamino, a Brazilian B2B financial services platform, raised a $6.1 million pre-seed.
• Onuu, a financial services provider for low-income Americans, raised a $6 million seed.
• Zitti, a payments platform and credit to radically simplify financial management for small and medium-sized food vendors, raised $4 million.
• CoinBooks, an accounting software for DAOs, raised $3.2 million.
• Cake Equity, an Australian cap table provider, raised an A$3 million seed round.
• Penelope, a retirement and savings provider for SMB employees, raised a $2.1 million pre-seed.
• Playter, a UK business-to-business buy-now-pay-later firm, raised a $1.7 million seed.
• Gretel, a service to recover lost financial assets, raised a $1 million pre-seed.
• Allawee, an African global credit infrastructure provider, raised funding.
• Floww, a marketplace to connect investors with private companies, raised funds from the London Stock Exchange.
• Pivo, a neobank for Africa’s supply chain industry, raised a pre-seed.
• Novel Capital, a revenue-based financing provider, raised $115 million in debt and equity.

💵 Debt Financing

• DailyPay, an on-demand payroll provider, secured a $300 million revolving credit facility from Barclays.

💰 Venture Funds

• Japan’s MUFG Bank launched a $300 million fund to invest in Indian startups.
• Luno, a subsidiary of Digital Currency Group, announced its $200 million Expeditions fund to invest in fintech, crypto, and web3 companies.
• The Stellar Development Foundation launched a $30 million defi and crypto fund.

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