#DoneDeal FinTech | 2022 #33
Weekly Funding news up to Friday, August 19th, 2022
REPORT
👉 Check out Financial Technology Partners / FT Partners latest report: "CEO Monthly FinTech Market Update & Analysis." here.
REPORT
Global payments funding fell 43% quarter-over-quarter (QoQ) to hit $5.1B — its lowest level since Q4’20.
Deals also fell 18% QoQ to reach 256.
👉 Download the State of Fintech Q2’22 Report by CB Insights here.
👀 NEWS HIGHLIGHT
Covalto said it will list on the Nasdaq exchange through a special purpose acquisition company, the first time a Mexican fintech trades publicly on a U.S. stock bourse.
👉 Read the full article here.
💡INSIGHTS
Alphabet is the world’s top blockchain-friendly investor pumping $1.5 billion into the sector.
👉 Read the full Finbold article here.
🧐 ANALYSIS
In 2022, however, decreased revenue from fees and commission, trading losses, and rising interest rates due to market volatility have compounded the pandemic’s consequences for both Traditional Banks and FinTechs alike.
👉 Read the full C-Innovation article “The Rise and Fall of Digital Disruption” by Isabel Richardson here.
💰 VC FUNDS
Portfolio Ventures closed its second Angel Fund by raising over £5 million in an oversubscribed round. Link here.
🤝 M&As
Float completed a full acquisition of Accounteer. Link here.
Wagepoint acquired KinHR, a Chicago, USA-based provider of a management software platform. Link here.
Remitly Global acquires Rewire, an Israeli-based financial services platform for migrant workers. Link here.
Kushki acquires Billpocket to accelerate LatAm’s payment ecosystem. Link here.
JPMorgan JPM has wrapped up the acquisition of Global Shares. Link here.
Razorpay acquires Ezetap for $200 mn. Link here.
🛳 PARTNERSHIPS
Votorantim and Temasek announced a strategic partnership to explore new investment opportunities in various sectors of the Brazilian economy. Link here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Tencent veterans secure $13M to build cross-chain decentralized identities. Link here.
⭐️ Adam Neumann’s new startup Flow gets backing from Andreessen Horowitz. Link here.
⭐️ Fi raised INR134.1 Cr ($16.84 Mn) as part of its Series C funding round from V-Sciences Investment. Link here.
⭐️Robinhood re-negotiates the Ziglu acquisition deal, leaving some crowdfunding investors at a loss. Link here.
UK 🇬🇧
BankiFi secured £4 million in funding to take its embedded bank-to-SME platform into new markets. Link here.
The Edfundo Visa prepaid card is live and used by UAE-based early adopters. Link here.
Foundy secured a £1.25M round led by Fuel Ventures. Link here.
USA 🇺🇸
Arc raised $20 million in a Series A round of funding. Link here.
Farther announced raising $15 million in a Series A funding round. Link here.
Stackwell raised $3.5 million in a seed funding round. Link here.
Halliday raised $6 million in a new seed round led by Andreesen Horowitz (a16z). Link here.
Injective announced a new $40 million funding round led by Jump Crypto. Link here.
Central Payments has raised $30 million in growth equity led by Castle Creek Capital. Link here.
AtoB reaches an $800 million valuation. Link here.
Pomelo raised a $20 million seed round. Link here.
Coinfund raises $300 million for a new crypto fund. Link here.
Highbeam raised $7 million in seed funding to continue developing banking tools. Link here.
Rocketplace raises $9M in seed funding to build the ‘Fidelity for crypto’. Link here.
BlackRock Launches Fintech ETF. Link here.
LATAM
Klavi raised $15 million in a Series A investment round. Link here.
DD360 receives a US$25 million equity investment from Creation Investments. Link here.
Uellbee closed a $350,000 seed round with angel investors and a $2 million debt line from APx Capital. Link here.
Fuse Capital started raising Fuse Capital Fund II, whose central thesis will be investing in the next generation of Web 3 startups in Latin America. Link here.
ASIA
DANA closed a funding round from Sinar Mas and Lazada Group. Link here.
QuotaBook has raised $11 million in funding led by Elefund. Link here.
Meta invests in Take App, a startup that helps merchants sell via WhatsApp. Link here.
Ant Group Co.’s valuation was trimmed again by global investors who bought private shares ahead of its suspended initial public offering. Link here.
FOMO Pay secures US$13m in Series A funding. Link here.
Tiger Global doubles down on Indian savings and investments app Jar. Link here.
AUSTRALIA 🇦🇺
Openpay completes Share Purchase Plan to raise over $5.8 million. Link here.
If you are a fintech startup and have over 100 questions, send me an email. Maybe I can answer a few.