#DoneDeal FinTech Funding News | 2023 #9
Weekly Funding news up to Friday, 3rd of March
Last week, a total amount of €42.7m was raised across 9 European FinTech deals 👇
Congratulations to British car financing platform Carmoola in a £8.5m Series A followed by German finance operations solution finway in a €9.2m Series A.
Here are the Top 10 European Fintech funding deals in February👇
👉 In Feb. 2022 —> €2,062bn raised for 79 deals, average deal size was €31,2m
👀 NEWS HIGHLIGHT
Pennylane is set to close a new funding round led by Revolut investor DST Global.
The French startup, which counts US investing giant Sequoia among its biggest backers, enables businesses to automate invoices and manage cash flow more efficiently. Pennylane's valuation will jump to between $600 million and $650 million as part of the new investment, up from around $500 million just over a year ago, three sources familiar with the process told Insider.
👨💻 BLOG
Varo Bank raising $50m in significant down round 👇
Less than a year ago, Varo CEO Colin Walsh was insisting the company had enough runway to reach profitability without raising additional equity.
💰 VC FUNDS
Altai Ventures closed Altai Ventures Fund II, LP, at $53m, investors included Bain Capital Ventures, Century Equity Partners, and other LPs across property and casualty insurance.
Serena Ventures backs SoLo Funds as finance platform tops 1M registered users and over 1.3 million downloads.
🤝 M&As
Plerk and Minu announced that they are merging, as a result of the merger, Minu will integrate Plerk’s digital prepaid employee benefits card into its services.
DocuPhase purchased accounts payable automation solutions provider iPayables to enhance its footprint and provide AP automation clients with improved offerings.
Banco Sabadell is selling 80 percent of its merchant acquiring business to European paytech Nexi for €280m.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Pagos raised $34 million in a Series A round led by Arbor Ventures.
⭐️ Robin AI has raised a $10.5m Series A led by Plural, the VC fund launched by Wise’s Taavet Hinrikus and Songkick’s Ian Hogarth.
⭐️ Quantifind raised $23 million in a funding round led by DNS Capital, Citi Ventures, US Venture Partners, Valor Equity Partners, and S&P Global.
⭐️ Founders Fund announced the final close of its US$ 75 million Fund II to invest in pre-seed and seed stage Web3 and blockchain startups.
UK 🇬🇧
Zipzero raised £1 million in seed funding, from a diverse pool of angel investors, including Global Processing Services’ Craig Dewar.
DirectID has raised €9m, the cash will give Ingka Group, the owner of IKEA, a minority investment in the firm.
StudentFinance raised €39m in a Series A funding round.
EUROPE 🇪🇺
Finmap raised $1.2 million from European and Ukrainian investors.
USA 🇺🇸
Trust & Will secures $15M after doubling revenue, Amex Ventures, USAA are among the digital estate planning startup's new backers.
Finch secured $40 million in a Series B funding round co-led by General Catalyst and Menlo Ventures.
Archway garnered an investment of $15m in its Series A funding round by Madrona and WaFd Bank.
Quantifind raised $23 million in a funding round led by DNS Capital, Citi Ventures, US Venture Partners, Valor Equity Partners, and S&P Global.
CANADA
Equisoft secured a $125 million equity investment, the round saw participation from new investors Investissement Québec and the government of Québec as well as long-time investment partners Export Development Canada and Fondaction.
LATAM
Destácame raised an investment round worth USD $10M led by Santander X and included the participation of existing investors Kayyak Ventures and FEN Ventures.
ASIA
Cashfree Payments strengthened its D2C payment offering by acquiring Zecpe, a one-click checkout company.
DigiFT closed a US$ 10.5 million Pre-Series A funding round led by Shanda Group, global privately-owned investment group.
F88 secured at least US$50 million, mainly from two investment funds, ahead of a potential domestic IPO next year.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.