#DoneDeal FinTech | 2022 #27
Weekly Funding news up to Friday, July 8th, 2022
REPORT
A record 125 new European Unicorns🦄 have been minted in the past year. More than the last three years combined.
👉Download the full GP Bullhound report here.
👀 NEWS HIGHLIGHT
Observations on Q2 2022 FinTech Deal Activity:
Overall, financing activity slowed notably compared to Q1 and the year-ago period, but activity remained quite robust when compared to any other period besides 2021; activity did appear to wane as the quarter progressed.
👉Read the full article here.
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📰 ARTICLE
👨💻 BLOG
For your seed-stage startup to graduate to the next level, it must pass a new test.
Suddenly, a PowerPoint deck isn't enough. Traction and monetization matter.
Series A Rounds Are a Math Test.
👉Read this very insightful article (by Nnamdi Iregbulem from Lightspeed Venture Partners) for early-stage startup founders here.
💡INSIGHTS
Last week, €370 Million was raised across 15 FinTech deals.
Congratulations to Lichtenstein and their champion Unizen on their €190m venture round, followed by Kaiko and their €50 Series B round and Zilch raising a €47m Series C extension.
👉Read the full article here.
🦄 UNICORN CLUB
Top 10 VC firms have ownership in 38% of all 1143 unicorns currently on the market.
👉Read the full article here.
Ten years ago, there was only one unicorn in Latin America. We now have 45 and counting. 🙌
👉Link to the article here.
💰 VC FUNDS
Yatra Angel Network has received approval from the Securities and Exchange Board of India to launch its INR 90 Cr early-stage fintech-focused Alternative Investment Fund. Link here.
Reciprocal Ventures, the early-stage backers of Solana and The Graph, announced that it has closed a $70 million fund. Link here.
ING Ventures has invested “around $10 million” in the operating system (OS) of enterprise productivity, OpenFin. Link here.
Headline has raised its seventh European fund of €320m to back European B2B and B2C startups from seed to Series A. Link here.
🤝 M&As
Talenom has announced its acquisition of Nomo from Innocells, the corporate venture arm and digital innovation hub of Banco Sabadell. Link here.
Careem acquired start-up Denarii as it aims to expand its reach in the FinTech sector. Link here.
EToro is joining other tech and media companies that have backed off SPAC deals that would take them public amid a tech stock sell-off. Link here.
Worldline has completed a €256 million deal to acquire an 80% stake in Eurobank’s merchant acquiring business in Greece, as a joint venture. Link here.
Monoova merges with Moneytech FX to reduce domestic and international payment costs. Link here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️Klarna is reportedly close to inking a new round of funding that would slash its valuation to $6.5 billion — about 1/7 of what the company was valued in June of 2021. Link here.
⭐️Vauban joins Carta to help build a better future for the venture ecosystem. The teams will support investors at every step on their journey—from their first $100k SPV to operating a billion-dollar venture fund. Link here.
⭐️YAP has raised $41 million in a funding round. Link here.
⭐️Revolut’s Storonsky says it has enough funding for two years. Link here.
⭐️Hours after the Volt Bank board’s big decision to return customer funds and abandon its banking aspirations, management’s attention switched to trying to find a buyer for its technology platform. Link here.
⭐️GoCardless has announced its plans to acquire Nordigen. Link here.
UK 🇬🇧
Amazon Web Services is launching a new FinTech accelerator in the UK aimed at supporting UK companies to build innovative solutions in the cloud. Link here.
Raylo announces that it has raised £6.5m in additional funding, including a strategic investment. Link here.
Augmentum Fintech remains bullish on fintech, despite slashing investment. Listed fintech has reduced new investment into fintech companies over the past year from £44.4m to £16.4m. Link here.
Oxbury has raised £20 million to continue the development of its proprietary AgTech core platform. Link here.
Griffin, has scored $15.5 million in funding. Link here.
Fiinu is readying to introduce a world-first plugin overdraft after joining the London Stock Exchange with a £53m valuation. Link here.
EUROPE 🇪🇺
BKN301 has raised EUR15 million in a Series A funding round led by Abalone Group. Link here.
Closure announced that it has raised €1.5M in funding from Borski Fund and Rabobank. Link here.
USA 🇺🇸
Knox Financial plans to expand its lending business and loan products with $50 million in funding. Link here.
PennyWorks raised $2M in Pre-Seed funding. Link here.
Crescent raised $5M in Pre-seed funding. Link here.
Finli closed a $6m Seed funding round. Link here.
LATAM
Women’s participation in Latin America’s venture capital space remains low. Link here.
Rajeev Misra, head of Vision Fund, which handles SoftBank’s LatAm funds, steps down. Link here.
ASIA
MarketWolf has plans to introduce stock trading to first-time investors in more markets. The platform announced that it has raised $10 million in Series A funding. Link here.
PINA.ID has completed its $3 million seed funding round. Link here.
Innoviti gets $25 million in funding round. Link here.
Kini raised US$4.3 million in a seed funding round. Link here.
AFRICA
BII announces $20m investment in mobility fintech Moove. Link here.
Zapper is considering options to raise capital, including a stake sale, that could value the SA start-up at nearly $1bn. Link here.
Sava raises $1.8m in equity to launch spending management platform in South Africa. Link here.
MOVERS & SHAKERS
Binance.US has named a new CFO, Jasmine Lee, who previously served as CFO and chief operating officer at Acorns. Link here.