Conduit Raises $36 Million from Dragonfly Capital and Altos Ventures
Weekly Funding news up to Friday, 30th of May 2025.
WEEKLY FUNDRAISING ACTIVITY
👀 NEWS HIGHLIGHT
BlackRock plans to acquire about 10% of the shares offered in Circle Internet Group Inc.’s initial public offering, according to people familiar with the matter, as the worlds of traditional finance and cryptocurrency continue to deepen their ties.
The stablecoin issuer and some of its shareholders including co-founder and Chief Executive Officer Jeremy Allaire are seeking to raise as much as $624 million in the offering, according to a US Securities and Exchange Commission filing Tuesday. Cathie Wood’s Ark Investment Management has indicated an interest in buying as much as $150 million of shares in the offering, the filing shows.
🤝 M&As
Orange is winding down its European retail banking operations and is in exclusive talks with Crédit Coopératif to sell its FinTech subsidiary, Anytime, which supports associations. This move aligns with Orange’s strategic exit and Crédit Coopératif’s 2030 growth plan.
Alchemy acquires no-code NFT launchpad HeyMint for an undisclosed amount. The undisclosed funding deal will see HeyMint’s infrastructure embedded within Alchemy as it seeks to simplify user onboarding for Web3 applications.
Kakao Pay plans to acquire SSG Pay and Smile Pay for digital optimisation in Korea. If successful, it will strengthen Kakao Pay’s position in the Korean mobile payments market. Additionally, Kakao Pay would expand its merchant relationships in retail and online marketplaces, paving the way for new financial products.
Finwizz and Wishfin merge to build a leading omni-channel financial platform, eyeing IPO in 24 months. The combined entity leverages Finwizz’s distribution and Wishfin’s digital strengths, aiming to scale credit aggregation and attract strategic capital.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Rillet raises $25M from Sequoia to automate general ledger systems using AI.
⭐️ Stablecoin company Conduit raises $36 million from Dragonfly Capital and Altos Ventures.
⭐️ VOX Funding Secures $150 Million Credit Facility from Raven Capital.
⭐️ Global Payments to sell payroll unit to FinTech Acrisure for $1.1 billion.
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🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
UK FinTech Capital on Tap raises £650m to expand £1.2bn Master Trust facility. Capital on Tap CEO Damian Brychcy stated that the recent funding milestone reflects both the trust partners have in Capital on Tap and the company's commitment to simplifying the financial lives of small business owners.
UK paytech Dojo lands $190m from Vitruvian Partners. The investment, the first equity raise in Dojo’s history, will be used to fuel the company's European expansion strategy, supporting growth across Ireland, Italy, and Spain, where Dojo already maintains operations.
EUROPE 🇪🇺
Luxembourg-based FinTech Financial Navigator secures €1.1 million in funding. The funding will play a key role in accelerating Financial Navigator’s mission to modernize treasury and finance operations for mid-sized enterprises and the fund industry.
USA 🇺🇸
OpenFX raises $23 million led by Accel to build near-instant cross-border transactions. OpenFX can bring FX spreads down from around 69 basis points to sub-10, with 90% of its transactions settling in 60 minutes. If successful at scale, it could be enough of a technological leap for stablecoins to take off beyond pilots and experimentation.
Announcing Monarch’s $75M Series B financing. This capital will accelerate its mission of bringing financial wellness to the masses and expanding the breadth of the Monarch platform. Continue reading
FinTech FUTR secures $1.25m to accelerate AI and payment innovations. FUTR’s platform aims to optimise financial outcomes for consumers by harnessing AI agents and automated cash management. The core objective is to help users monetise their data.
Payment industry veterans launch Velocity with €8.9M to build the OS for digital finance. The company’s key areas of focus include growth investing, founder partnerships, market research, technology infrastructure, and strategic support for companies in high-growth phases.
Palla lands $14.5M for embedded cross-border payments. Miami-based Palla plans to use the new funding to expand into Europe-to-Latin America corridors and integrate additional payment systems. Keep reading
ASIA
Lightspeed joins $20m series B for Indian wealthtech firm Stable Money. The funding will be used for capital expenditure, marketing, and general corporate purposes. The platform lets users compare, invest in, and manage fixed-income products, including bank fixed deposits.
UAE’s Gainz raises funds to tackle $200b SME financing gap in MENA. The investment signals strong confidence in Gainz’s mission to democratize SME financing in a region where access to working capital remains limited and fragmented.
Indian FinTech firm Mufin Green bags $18m for EV loans to MSMEs. This funding aims to expand its electric vehicle (EV) financing and leasing operations. It will also be allocated to enhance financing for electric two-, three-, and four-wheelers, as well as related infrastructure.
GyanDhan nears USD 6 mn funding round led by Pravega Ventures and Classplus. The company has emerged as a leading marketplace in the education-finance space, connecting students with over 15 banks and NBFCs. It also operates its own NBFC and provides a SaaS platform tailored for overseas education consultants.
Cred to raise $75 million from existing investors. The company's plans to raise fresh funds augurs with its plans to focus on the development and adoption of its new product offerings. Read more
FinTech startup Sequence raises $7.5M to automate consumer and SMB finances. The Israeli company aims to automate and optimize finances across banks, loans, credit cards, and savings. Keep reading
Dubai FinTech Qashio secures $19.8mln from US and MENA investors. The new funding is expected to help expand the company’s business across the GCC and beyond. Qashio operates a platform that helps businesses manage expenses and payments with integrated corporate cards and accounts payable automation.
Stitch raises $10 million in seed to extend services to emerging markets. The funds will be used to expand Stitch’s team and enhance its platform capabilities, further establishing the company as a trusted infrastructure partner for banks, FinTech firms, and non-financial enterprises integrating financial services.
LuLu’s investment arm backs Qatari FinTech firm PayLater. PayLater is among the first licensed providers of Buy Now, Pay Later (BNPL) solutions in Qatar. This investment represents LuLu AI’s first entry into Qatar’s financial market.