This Week in Fintech (7/10)

Hello Fintech Friends,

We previously hosted two sets of fintech geographic deep-dives online in November ‘20 and March ‘21. Would people want to join another round? Let me know!

Our prior deep-dives:

Australia (presentation, recording)
Africa (Call transcript, presentation)
Australia (presentation, recording)
Canada (presentation, recording)
China (part one, part two, recording)
Europe (Call transcript, presentation)
India (Presentation)
Latin America (Call transcript, presentation)
Middle East & Africa (presentation, recording)
Southeast Asia (presentation, recording)
US (Call transcript, presentation)

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, I may be able to help - reach out to nik@thisweekinfintech.com.

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💸 Venture Financing

Pine Labs, an Indian creator of a payments terminal, raised $600 million at a $3 billion valuation.
Bunq, a Dutch neobank, raised a €193 million Series A.
Clearco, a Canadian revenue-based financing platform for online companies, raised $215 million (just weeks after its last $100 million round at a $2 billion valuation).
Younited Credit, a French automated credit decisioning and document management platform, raised $170 million.
Pleo, a European spend management and CFO tool for European businesses, raised a $150 million Series C.
LoanPro, a loan management and servicing software provider, raised a $100 million growth round.
Unit21, a no-code anti-fraud platform for financial services, raised a $34 million Series B.
Entera, a startup that provides data to residential real-estate investors, raised $32 million.
Juni, a neobank for e-commerce and online marketing companies, raised a $21.5 million Series A.
Willa, a fintech platform for freelancers and the creative economy, raised an $18 million Series A.
Moneyhub, a UK open banking platform, raised $18 million.
Mintable, an NFT marketplace, raised $13 million from strategic investor Ripple.
Canopy, a technology provider for accounting firms, raised $11 million in funding.
Toqio, a white-label open banking startup, raised a $9.4 million seed.
AREX Markets, a Spanish and UK-based embedded lending and accounting provider, raised an €8.8 million Series A.
Lidya, a Nigerian small business lender that recently expanded to Europe, raised an $8.3 million pre-Series B.
Zerion, a decentralized finance investing platform, raised an $8.2 million Series A.
Smile Identity, a pan-African KYC and identity solution for financial services providers, raised a $7 million Series A.
British in-store payment service provider PayPoint made a £6.6m strategic investment in delivery company Snappy Group.
XCLAIM, a bankruptcy claim financing company, raised a $6.6 million seed.
Coast, a payments platform for trucking fleets, raised a $6 million seed round.
Glint, a UK gold-based payments system, raised over £3 million in crowdfunding.
Z1, a Brazilian neobank for teenagers, raised $2.5 million.
DigiKhata, a Pakistani small business accounting software, raised a $2 million seed.
StepEx, a UK student income-share agreement platform, raised a £1.1 million pre-seed.
Yalla Xash, a Moroccan money transfer platform, raised $675,000 to expand internationally.
UK neobank Revolut is reportedly raising between £750 million and £1 billion.
Perennial fintech banking partner Cross River Bank is raising $200 million at a $2.5 billion valuation.

☯️ Exits

💻 IPOs

UK cross-border payments company Wise, formerly known as Transferwise, completed the largest direct listing in UK history, ending the day up 10% at an $11 billion enterprise valuation, well above $6-7 billion market expectations.
Stripe, the US online payments monolith, hired a law firm to help it prepare for an IPO that will likely value it over its last private valuation of $95 billion.
Blend Labs, the digital banking transformation provider, set terms for its upcoming IPO at a valuation of nearly $4 billion.
Paytm, the Indian online payments monolith, plans to file for IPO (which is called a Draft Red Herring Prospectus in India) this month at an expected Rs16,600 crore ($2.23 billion) valuation.
Kakao Pay, South Korea’s e-commerce payment provider, plans to raise around $1.4 billion in its upcoming IPO in August.
Preston Hollow Community Capital, a lender for socially-conscious local community projects, filed for IPO.
Bridge Investment Group, a real estate investment manager, filed for a $300 million IPO.

📈 SPACs

Circle, a payments and treasury software solution for firms looking to compliantly manage cryptocurrencies, will go public through a combination with the Concord Acquisition SPAC at a $4.5 billion valuation.
Armada Acquisition, a fintech-focused SPAC, filed for a $150 million IPO.

🤝 M&A - Fintech

In an interesting deal, Malaysian airline AirAsia will buy the Thailand-based assets of Indonesian financial superapp Gojek for around $1 billion.
Google acquired Japanese cashless payments provider Pring for between $180 million and $270 million.
Private equity firm Sun Capital acquired digital mortgage software LoanLogics for between $50 and $100 million.
Sovos, a tax software provider, acquired Portugal-based accounting and invoicing companies PetaPilot and Saphety.
Swedish buy-now-pay-later startup Klarna is potentially sizing up its Australian rival Zip (a publicly-traded firm) for acquisition, having acquired 4% of the A$160 million lender.
Indian payment gateway PayU is reportedly considering an acquisition of business payments provider BillDesk for between $3 and $4 billion.

🏦 M&A - Bank

Japanese bank Sumitomo Mitsui will buy a controlling stake (74.9%) in Indian lender Fullerton India Credit Co. for $2 billion.
CaixaBank, Spain’s largest bank, will sell two businesses from its recently acquired rival Bankia to Global Payments for €277 million.

💲 M&A - Investment Management

US investor services firm American Stock Transfer & Trust Company will sell to private equity firm Siris Capital for $630 million.
Private equity firm Genstar Capital will acquire a majority stake in investment advisor Foreside Financial Group.

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