Fundraises

Oyster joins the unicorn club (TWIF 9/7)

Paris' Cafe de Flore

Hello Fintech Friends,

A lot happened this week.

First, there were an infinite number of fintech acquisitions announced (which we'll cover in tomorrow's newsletter).

Followed by a massive number of new venture rounds (below).

Matthew Goldman had a great writeup on the dynamic between fintechs and their vendors.

We had a great kickoff to our monthly SF fintech coffee series with Silicon Valley Bank (join our next one on October 8th).

And we were excited that Ziina*, a team we backed in 2020 and again in 2021, raised a Series A with 50,000+ users.

Please find another week of fintech financing events below. (PS: Have feedback for us? 👍👎 Let us know! Enjoying TWIF? Tips are always appreciated 🙏)

📊 Stat of the Week

Revolut by the numbers:

$500 million in annual B2B revenues
250,000 business customers
20,000 new businesses each month
40 markets
£17 billion in global processed transaction volume

💸 Venture Financing

Oyster, a payroll and HR platform for distributed workforces, raised a $59 million Series D at a $1.2 billion valuation.
Thatch, a healthcare management and payments platform, raised $38 million.
Cobre, a Colombian fintech building its own real-time payment rails, raised a $35 million Series B.
Unlock Technologies, which provides homeowners financing to tap their home equity, raised a $30 million Series B and new $250 million in lending debt.
Ziina*, a peer-to-peer and business payments app for the UAE and MENA, raised a $22 million Series A.
Fido, a Ghanaian provider of microloans to businesses, raised a $20 million Series B and $10 million in a new debt facility.
Sedric, a platform for monitoring employee communications at financial services companies, raised an $18.5 million Series A.
Malaa, a Saudi wealth management tool builder, raised a $17.3 million Series A.
Agrim, a pricing intelligence model to set appropriate prices for agricultural products in India, raised $17.3 million in new funding.
Ume, a Brazilian payment service provider to small and medium merchants, raised $15 million.
Cognitive Credit, a data and analytics software for corporate credit markets, raised a $10 million Series B.
Zamp, provider of a software that automatically calculates and files sales taxes for online merchants, raised a $10 million Series A.
AltScore, a provider of tools for Latin American lenders, raised an $8.5 million Series A.
Palm, a Swedish platform to streamline cash management for enterprise treasury teams, raised €5.5 million in seed funding.
Arvo, a Brazilian platform for detecting fraud in healthcare payments and transactions, raised 25 million reais ($4.5 million).
Linker Finance, a software to help community banks build better digital experiences, raised a $3.7 million seed round.
Propel, a startup that makes it easier for recipients of government benefits like food stamps to navigate them digitally, received a $3.5 million grant from the Gates Foundation.
Echelon, a decentralized lending protocol, raised a $3.5 million seed round.
Agree, an agreements platform that integrates money movement, raised a $3 million pre-seed.
Capsa AI, a startup automating private equity due diligence tasks, raised a €2 million seed round.
Flex, a builder of infrastructure for accepting HSA and FSA payments, raised a $3.2 million seed round.
3Forge, a provider of code platforms for building mission-critical applications in financial services, received a strategic investment from Morgan Stanley.