#DoneDeal FinTech Funding News | 2023 #39
Weekly Funding news up to Friday, 6th of October 2023
REPORT
🤑In the past week, we saw 13 FinTech Funding Deals in Europe for a total amount of €140.5m raised:
Officially with seven deals in the UK, two deals in France, one deal in Switzerland, one in Germany, one in Spain, one in The Netherlands.
👀 NEWS HIGHLIGHT
The fund, which invests into the equity of blockchain companies as opposed to digital assets, is called Titan Fund and will focus on early-stage start-up investments along the three key verticals of Infrastructure, Fintech, and Consumer applications such as gaming, metaverse and NFTs.
📰 ARTICLE
As the ebb and flow of FinTech funding in India paint a dynamic canvas, a close examination of the trends and their underlying currents becomes paramount to comprehend the evolving narrative.
💡INSIGHTS
The Israeli fintech industry, known for its vibrant and innovative ecosystem, has seen more than a 73% drop in funding in 2023, further exacerbating concerns surrounding the effects of the global economic crisis and the local turmoil brought on by the government’s controversial judicial reform plans.
🤝 M&As
Mynt is acquiring payments firm Electronic Commerce Payments Inc (ECPay) for about $40 million.
Factorial announced the successful acquisition of Fuell, an Expense Management startup.
Wagestream has acquired challenger credit card startup Keebo. Financial terms of the deal were not disclosed.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Peach Payments closes $30m funding round.
⭐️ Revolut strikes share deal with SoftBank to remove barrier to UK licence.
⭐️ Blackstone leads $61m ventture round in AP automation outfit Stampli.
⭐️ Debtist is announcing the successful completion of its pre-seed financing round.
EUROPE 🇪🇺
Pivot has secured a funding of five million euros. Some of the significant stakeholders entering this round include the venture capital firm Visionaries Club, founders from Personio and Qonto, and Rocket Internet's CEO, Oliver Samwer.
ABN Amro Bank NV is combining its venture operation with an arm of private equity firm Motive Partners in a deal that could drive further consolidation in the industry.
Getpaid successfully navigates through a new financial milestone, securing six million dollars in a recent funding round.
Kraken to acquire Dutch crypto broker BCM in commitment to grow European business.
USA 🇺🇸
Slope closed on a venture round of $30 million to expand its business. The company intends on using the new funds on product development as it continues to take on bigger clients.
Farther closes Series B funding round to gain $131M valuation.
Visa announced that it plans to invest $100 million in companies developing generative AI technologies and applications “that will impact the future of commerce and payments.”
Vyzer secures $6.3 million in seed funding. The funds will enable us to enhance our platform’s AI capabilities, develop new features, and broaden our market presence.
Rainforest raises $8.5M to help software companies embed financial services.
CANADA
Clearco announced the completion of multiple actions to recapitalize its business and solidify its position as the leading provider of growth capital to e-commerce businesses.
LATAM
Gringo received an investment of over $29M. The round was led by Valor Capital, with participation from Kaszek, VEF, Piton, ONE VC, ICU Ventures, and Actyus.
Cobre has developed a pioneering corporate treasury platform designed to empower financial directors in Colombia by offering them enhanced visibility and control over their company’s financial transactions raised 13M USD.
Galgo has made pivotal strides in 2023, including the acquisition of Crediorbe and successfully raising US$40.8 million in what became the year’s largest local capital round.
AFRICA
Revio announced a seed investment round of $5.2 million. The company plans to use the capital to further grow Revio’s coverage across Africa, deepen its routing logic, and expand its capabilities to add more value to customers.
Stitch raises $25M Series A extension led by Ribbit Capital, increasing the round’s total to $46M.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.
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