#DoneDeal FinTech Funding News | 2023 #24
Weekly Funding news up to Friday, 16th of June 2023
Last week we saw 10 FinTech deals in Europe for a total of 145m€ raised with 3 deals in Germany, 2 in the UK, Sweden, and The Netherlands, and 1 in Spain.
Check out the complete BlackFin Tech overview article by Gabrielle Thomas, with more stats and figures 👇
👀 NEWS HIGHLIGHT
Investor cuts Revolut valuation with a 40% writedown in the latest blow for the British fintech company.
Molten Ventures discounted the value of its £7 million stake in Revolut from £91.3m in March last year to £54.5m at the end of March this year.
📊 INFOGRAPHIC
🇮🇱Israeli FinTech deal activity in Q1 2023 drops 44% YoY.
📰 ARTICLE
5 Fintech investments made by Malaysia’s Khazanah Nasional.
Much like other sovereign wealth funds, the firm does not publicly disclose many of its investment activities in fintech companies.
Here are some of the more notable fintech-affiliated investments that Khazanah Nasional has made in the recent past.
💰 VC FUNDS
Impacta VC took the lead in Airbag’s latest funding round that raised a total of $700K.
🤝 M&As
Nasdaq has agreed to acquire financial-software firm Adenza for $10.5 Billion. The deal represents the biggest acquisition in company's history.
FIS acquires banking-as-a-service startup Bond. Fintech Business Weekly’s Jason Mikula broke the news last week that the deal was in the works. Techcrunch sources confirm that the deal has now closed.
Backbase announced its acquisition of digital wealth platform Nucoro for an undisclosed amount.
Andreessen Horowitz has combined its finance and consumer investment teams into one merging, what were two of the hottest pandemic-era investment categories that have since cooled.
Lightico announced its acquisition of Europe’s technology provider Vizolution, positioning the joint company as the global leader in B2B2C Digital Completion.
Goldman Sachs puts GreenSky up for sale: Potential buyers express interest.
Visa is nearing a deal to acquire Brazilian payments provider Pismo.
NymCard completed the acquisition of Middle East BNPL firm Spotii.
Blackboxstocks invests $8.5 million in first step towards merger with Evtec.
🛳 PARTNERSHIPS
Toast picks FreedomPay as preferred payments gateway partner.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Indifi raises $35M to expand digital lending to more small businesses.
⭐️ Paro secures $25 million in Series C funding led by Top Tier Capital Partners.
⭐️ nocnoc raises $14 Million in series A funding led by PayPal Ventures.
⭐️ DJUST raises $12 million to simplify B2B commerce and accelerate market expansion.
UK 🇬🇧
BoomFi raises $3.8 million to make its next-generation payments solution common place.
Freetrade slashes its valuation by 65% as it prepares for a fresh crowdfunding campaign in June.
EUROPE 🇪🇺
illimity Bank secures €50 million via EIF in a deal that aims to promote access to capital for Italian SMEs.
Bit2me raised €14 million to 'drive forward in Latin America' in a funding round led by Investcorp.
Nelly raises €15 million to fully digitise medical admin and payments.
Trezy raised €3M in a seed round of funding led by Seedcamp and Playfair. Kima Ventures and Discovery Ventures also participated in the round.
Nebeus raises €1.2 million on Seedrs, and announced plans to launch its DeFi wallet.
USA 🇺🇸
Blackbird AI raised $20m in a series B funding round led by Ten Eleven Ventures.
Majority, a digital bank for US migrants, grabs $9.75M amid expansion in Texas.
CANADA
Doormat announced the completion of a $1.25M CAD pre-seed funding round.
OneVest raised C$17m to expand its business, in a Series A funding round led by Omers Ventues.
LATAM
Kanastra announces a $13 million seed round investment, one of the largest at this stage in Latin America.
ASIA
Pilon raises funds from Kaya Founders to accelerate Filipino expansion plans.
Poko bags US$4.5M to streamline Web3 payments experience for all users.
Pepper Group said it will invest $150 mn over the next four years to establish a fintech in India.
Finfra has raised $1 million in a new funding that will be used on product development.
AFRICA
Zofi Cash secures $1m to scale salary advance services in order to better assist its clients.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.