Fundraises

Revolut employees to cash out $500M (TWIF 5/25)

Hello Fintech Friends,

The most interesting fundraise news of this week was not a primary but a secondary share offering - Revolut is arranging for employees to cash out up to $500 million in a share sale that CEO Nik Storonsky believes will hit their 2021 valuation of $33 billion. And on the back of £1.7 billion in expected revenues, 40 million customers, and a 45% markup from investor Schroder, it looks like they may get it.

Sharing that story along with 20 new fundraises below.

👉 Separately, I would sincerely appreciate your support to win TechCrunch's Audience Choice for Disrupt this year to talk about the future of embedded finance on-stage with Airwallex!

Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know!)

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📊 Stat of the Week

UK bank fraud losses dropped by 4% last year, but still remained over £1 billion annually (source), while UK taxpayers spent almost 800 years on the phone last year waiting to speak to the country's tax collectors' customer service (source).

💸 Venture Financing

Revolut, the global neobank, is lining up a $500 million share sale potentially at its $33 billion valuation.
Vitesse, a UK payments and treasury management platform for insurers, raised a $93 million Series C to expand to the US.
GB Bank, a British-based small business lender, raised £85 million.
Alpian, a Swiss neobank, raised an $83 million Series C, bringing on Italian bank Intesa Sanpaolo as its majority shareholder.
Colendi, a Turkish provider of fraud protection, ‘financial passports’ and credit scoring without retaining users’ personal data, raised a $65 million Series B.
Agora, a real estate investment management solutions provider, raised a $34 million Series B.
Humanity Protocol, a startup that aims to verify people’s online identities in an era of artificial intelligence deepfakes, raised $30 million at a $1 billion valuation.
Finout, an enterprise spend management platform, raised a $26 million Series B.
Aeropay, a provider of Pay-By-Bank solutions for businesses, raised a $20 million Series B.
Majority, an immigrant-focused neobank in the US, raised $12.5 million in additional Series B capital, on the back of 3x revenue growth to $40 million, and $7.5 million in debt.
VEDA, a German embedded payroll provider, raised €17 million.
Footprint, the provider of a portable digital identity to remove the friction of customer onboarding, raised a $13 million Series A.
Traction Ag, a cloud-based accounting software suite built specifically for farmers, raised a $10 million Series A.
Teal, an embedded accounting provider, raised $8 million in seed funding.
Ember, a British embedded accounting automation provider (screenshot below), raised £5 million.
Viable, a UK provider of financial insights to e-commerce brands, raised a $3 million seed round.
Tulyp, a French provider of digital trade finance for small businesses, raised a €1.5 million seed round.
STRATxAI, an Irish automated consumer investing platform, raised €1.5 million.
STON.fi, a leading decentralized automated market maker exchange, announced a previously undisclosed round.
Velotix, a machine learning-driven data security platform, raised strategic funding from Barclays.