#DoneDeal FinTech Funding News | 2023 #18
Weekly Funding news up to Friday, 5th of May 2023
WEEKLY FUNDRAISING ACTIVITY
Last week we spotted 13 European FinTech deals for a total amount of €90m;
REPORT
FinTech startups attracted over $14B in VC funding in Q1 2023. This is far from 2021 levels but more than the last two quarters. Fintech funding is so far on track to surpass 2020 while falling short of both 2021 and 2022.
Read the full report by dealroom through the link below👇
👀 NEWS HIGHLIGHT
Greenwood acquired Kinly in a move that brings together two of the largest Black-owned FinTechs. The terms of the deal were not disclosed.
📊 INFOGRAPHIC
⚫️ Global FinTech deal activity drops 12% in April 2023 YoY.
Key global FinTech investment stats in April 2023:
📉 Global FinTech deal activity reached 475 transactions in April 2023, a 12% decrease from April 2022.
🌏 Global FinTech investment totaled at $406m in April a 47% drop from the same month last year.
🇺🇸 The USA was the most active FinTech country in April with a 49% share of deals.
⚫️ German FinTech investment on track to fall 73% in 2023 after weak Q1 results.
German FinTech investment stats in Q1 2023:
German companies raised a combined $293m in Q1 2023, a 60% drop from the same period last year.
German FinTech deal activity reached 48 deals in Q1 2023, a 14% reduction YoY.
Berlin was the most active German city with a 41.6% share of deals.
🤝 M&As
GBST acquired WealthConnect, which marks a significant step in GBST’s continued growth strategy as it expands its innovative suite of FinTech products and services to deliver business opportunities in new and existing territories.
Rêv and Searchlight completed their purchase of the Netspend consumer business from Global Payments in an all-cash transaction valued at $1 billion.
TAS acquired its fellow Italian FinTech Mitobit via its subsidiary Global Payments, for an undisclosed sum.
Deutsche Bank announced that it had reached an agreement on the terms of a recommended all-cash offer for the acquisition of Numis Corporation Plc.
Coconut is set to be acquired by rival GoSimpleTax after its latest funding round was scuppered by changes to the UK’s upcoming Making Tax Digital scheme.
Migrante acquired Crediorbe, a Colombian company with a portfolio worth $35 million.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Bits Technology raised €4 million in a funding round led by Unusual Ventures.
⭐️ Tangem raises $7m in an investment round led by Shima Capital.
⭐️ Kiwi raised $6 million in a pre-seed funding round led by Nexus Venture Partners.
⭐️ Vera Equity raised $20 million for its first fund.
EUROPE 🇪🇺
Green-Got banks €5 million to grow its green banking platform in Europe. As a community-led venture, the neo-bank opened up its investment opportunity to its community through crowdfunding.
Kreditz raised €10 million from investment company Creades and the venture arm of retail furniture giant Ikea.
USA 🇺🇸
184 investors have contributed to Frost’s funding campaign since it launched in March. In total, the company is issuing 12.12% equity to those who have invested through the crowdfunding platform.
Silicon Valley AI company OpenEnvoy announced raising $15m in a Series A funding round. The investment was led by RRE Ventures.
Moonsense raised $4.2 million in seed funding and the general availability of its user behavioral and network intelligence solution to help organizations future-proof their fraud detection and prevention.
LATAM
FinanZero successfully raised BRL 75 million in a funding round led by Atlantico, alongside participation from Chromo Invest, Peninsula, and other investors.
Fairplay recently secured a $100 million credit line to support early-stage entrepreneurs in Mexico.
DieselBank raises a US$157K follow-on while finalizing a US$1.3M seed round with new investors in Brazil.
Liquido emerged from stealth and launched publicly with $26 million from Index Ventures.
AFRICA
Nomba raised $30 million in a pre-Series B investment to support the delivery of bespoke payment solutions for African businesses.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.