This Week in Fintech (4/24)

Hello Fintech Friends,

Please find another week of financings and transactions below. (Sneaking back up to all-time highs, with 41 venture rounds announced.)

Editor’s Note: If you’re an early-stage startup founder raising equity or debt, I may be able to help - reach out to nik@thisweekinfintech.com.

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💸 Venture Financing

Razorpay, an Indian business payments platform, raised a $160 million Series E at a $3 billion valuation.
Deel, which provides a business payroll platform, raised $156 million at a $1.25 billion valuation.
Subscription billing platforms SaaSOptics and Chargify raised a combined $150 million.
Chargebee, an Indian business billing and subscription management tool, raised a $125 million Series G.
Digital Asset, a blockchain company used by financial services providers to synchronize disparate data silos, raised a $120 million Series D.
Classy, a fundraising platform for charities and non-profits, raised a $118 million Series D.
TymeBank, a South African neobank, raised $109 million.
Clearbanc, the receivables lender to SaaS companies, raised a $100 million Series C and rebranded to Clearco.
Bux, a Dutch no-fee stock trading platform, raised $80 million.
Zilch, the UK buy-now-pay-later lender, raised an $80 million Series B at a $500 million valuation.
Empyrean Solutions, an asset management solution for banks and credit unions, raised $74 million.
FintechOS, a low-code financial technology platform, raised a $60 million Series B.
Starling Bank, the UK neobank,raised £50 million from Goldman Sachs.
MANTL, a startup that allows people to open credit union and community bank accounts digitally, raised a $40 million Series B.
Welcome Tech, which provides banking and lending services to new immigrants, raised a $35 million Series B.
The TIFIN GROUP, a fintech venture studio, raised $22.3 million in Series B funding from investors including JP Morgan, Morningstar and Broadridge.
Embedded Financial, a clearing firm for equities, raised $20 million in successive seed fundings.
Candex, a ‘master vendor’ payment processor, raised a $20 million Series A from institutions including.
Payhawk, which helps companies unify payments and expense management, raised a $20 million Series A.
AltoIRA, a self-directed IRA platform, raised a $17 million Series A.
Nymbus, a banking technology vendor, raised $15 million.
Hash, a Brazilian payments infrastructure provider, raised $15 million.
My Percent, an investing platform, raised a $12.5 million Series A.
Tribal Credit, a credit card provider to startups in emerging markets similar to Brex, raised $34 million in combined debt and Series A equity.
Tamara, a Saudi buy-now-pay-later service, raised a ~$10 million Series A and ~$100 million in debt.
Bespoke Financial, a cannabis lending business, raised an $8 million Series A.
Plooto, a business cash flow management automation platform, raised an $8 million Series A.
Till Financial raised $5 million for a kids’ spend management app.
Qapita, which builds equity management software for startups, raised $5 million.
STACS, a Singaporean banking blockchain platform, raised a $3.6 million pre-Series A.
Okra, a Nigerian open banking API provider, raised a $3.5 million seed.
3s.money, a UK foreign currency bank transfer solution, raised a £3 million Series B at a £40 million valuation.
GoalBased Investors, a financial planning app, raised a $2.75 million seed.
Atrato, a Mexican buy-now-pay-later platform, raised a $2.7 million seed round.
Fintor raised a $2.5 million seed round to fractionalize real estate investment.
loyalBe, a North Ireland-based open banking loyalty app, raised £1 million.
Transunion invested in decentralized credit scoring service Spring Labs.
Peach Payments, a South African payments gateway, raised a round to expand across Africa.
CRiskCo, a loan application platform, raised funding from Prytek.
Revolut is currently fundraising at a $10 billion valuation.
Rapyd is reportedly raising around $250 million at a $5 billion valuation.

💵 Debt Financing

Open Co, a fintech that provides unsecured loans to Brazilian consumers, raised a $270 million credit line from Goldman Sachs.

💰 Venture Funds

The black and women-owned Fearless Fund raised a strategic investment from Mastercard.

☯️ Exits and M&A

💻 Fintech

Spanish fund distribution network Allfunds priced its IPO at a market value of up to €7.6 billion.
Deluxe, a business solutions provider, acquired First American Payment Systems, a payment processor, in an all-cash $960 million deal.
Mastercard will acquire Ekata, an identity verification company, for $850 million.
Private equity firm Siris Capital submitted a £624 million offer for UK financial administration company Equiniti.
Affirm will acquire purchase return platform Returnly (which previously raised funding from Max Levchin) for $300 million.
PicS (or PicPay), a Brazilian digital payments provider, filed for a $100 million Nasdaq IPO.
Offers and rewards platform Cardlytics will acquire customer data and marketing platform Bridg.
Nomu Pay, the European and Asian payments arm of Finch Capital, will acquire Wirecard’s Hong Kong, Malaysia, Philippines and Thailand assets.
Marble Financial, a Canadian personal financial manager, acquired open banking platform Inverite Verification.
Zeepay, a Ghanaian international neobank, acquired Zambian mobile money provider Mangwee Mobile Money.
Fresh off a new round of funding, financial institutin bitcoin manager NYDIG acquired commercial lender Arctos Capital.
Danish neobank Lunar will acquire Swedish digital lender Lendify.
Private equity firm Crestview Partners made a majority investment in German auto financing platform AutoLenders.
Private equity fund EMH Partners acquired 65% of the shares of German billing and subscription management service cleverbridge.
Remittances company Wise is in talks with UK regulators about a direct listing on the London Stock Exchange.
Digital lending software provider Blend confidentially filed for IPO.
LaTrobe Financial, a non-bank lender, is considering an IPO that could value it at $2 billion.

🏦 Bank

Standard Chartered, DBS, MUFG, and OCBC will bid for Citi’s Asia business.

📈 SPACs

CompoSecure, a digital asset storage and custody solution for financial services providers like JP Morgan and American Express will go public through a merger with Roman DBDR Tech Acquisition Corp at a $1.2 billion valuation.
SPACs raised over $100 billion so far in 2021 (a year that has seen more inflows than the past 12 years combined), but regulator comments have thrown ice on the buzzy fundraising vehicles.

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