#DoneDeal FinTech Funding News | 2023 #17
Weekly Funding news up to Friday, 28th of April 2023
WEEKLY FUNDRAISING ACTIVITY
Last week we spotted 19 European FinTech Funding deals for a total amount of €129m;
️
⚫Top 1O Fintech Financing and M&A deals
The 5 biggest FinTech fundraisings this week are more diversified than usual, 3 located in Europe and 2 in the US over three verticals; Crypto & Blockchain, Banking, Lending and Payments👇
REPORT
Here are some key takeaways from Royal Park Partners’s Q1 2023 – FinTech market update:
The deal count also increased from 176 to 215.
Stripe’s $6.5bn Series I attracted the spotlight as it nearly halved its valuation to $50bn.
In February, Coupa’s $8bn buy-out by Thoma Bravo represented one of many deals that have happened recently in the increasingly active spend management space. It represented 63% of the total M&A value of this quarter.
In March, MAX’s acquisition by CLAL Insurance & Finance for $687m was the most notable transaction.
Read and download the full report through the link below 👇
👀 NEWS HIGHLIGHT
Super.com launched its cashback card SuperCash last October so that card users could build credit, amassing 5 million customers worldwide who have collectively saved over $150 million to date.
📊 INFOGRAPHIC
PayTech accounts for 9.7% of global FinTech deals in Q1 2023. Key PayTech investment stats in Q1 2023:
PayTech accounted for 9.7% of global FinTech deals in Q1 2023 with 132 deals.
The PayTech subsector raised $8.1bn in total during Q1 2023, a 37% share of FinTech investment.
The US was the most active PayTech country with a 36% share of deals at 47 deals.
⚫️ Australian FinTech investment falls 62% YoY in Q1 2023. Key Australian FinTech investment stats in Q1 2023:
👉 Australian FinTech deal activity reached 22 deals in Q1 2023, a 56% drop from Q1 2022.
👉 Australian FinTech funding ended the quarter at $226m in Q1 2023, a 62% decline compared to the same period last year.
👉 PayTech and RegTech were the most active FinTech subsectors in Australia during Q1 2023.
🤝 M&As
GoSimpleTax is set to acquire Coconut to create an end-to-end bookkeeping and filing solution for individuals and small businesses.
Founders Forum Group acquired Tech Nation, rescuing the quango from oblivion after a decade of championing UK startups.
Belvo acquires Skilopay to further develop its strategic position as a leading account-to-account payments provider in Brazil and Latin America.
Kakao Pay acquired a stake in Siebert Financial. Kakao spent $17 million on this transaction and the company now owns a 19.9% stake in Siebert.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Zodia Custody closed a $36m Series A funding round led by SC Ventures and SBI Holdings.
⭐️ Clara extended its Series B funding round with a $60 million investment from GGV Capital.
⭐️ Summer raised $6 million in new capital, totaling $18 million in funding to date.
⭐️ Plumery raised a €2m equity and €2.3m convertible debt seed round.
UK 🇬🇧
Fintech Farm raises $22 million in a Series B funding round led by Nordstar Fund as well as with participation from Chrome Capital.
About $15 billion has been wiped from the valuation of Revolut by one of its most loyal shareholders Schroders.
42Markets Group received a $10m growth investment from Convergence Partners, which will help 42Markets accelerate the development and expansion of its portfolio companies.
Tembo raised £5 million from Lone Ventures and Starling Bank backer Harold McPike.
EUROPE 🇪🇺
Nalo secured a new funding deal, which was led by Mandalore Partners, an asset manager focused on insurance and savings. The size of the deal was not disclosed.
Bastion Cyber raised €2.5 million in seed funding from Kima Ventures, Frst, Global Founders Capital, and others.
USA 🇺🇸
Credora raises $6 million in a funding round led by S&P Global and Coinbase Ventures.
IDPartner raised $3.1 million in a seed funding round led by Abstract Ventures. Foundation Capital, Circle Ventures, and others also joined the round.
Anthemis Group completed a restructuring that resulted in its letting go of 16 employees, or about 28% of its employees, earlier this year.
LATAM
Habi announced that it has entered into a US$100 million credit facility with Victory Park Capital to bring more innovation to the sector.
ASIA
Kaspi.kz is preparing for a U.S. listing, as it reported its adjusted first-quarter profit jumped by 52% year on year to 178 billion tenges ($389 million).
Niro reportedly secured $11m in its Series A funding round. The investment included $8.5m in equity and $2.5m in debt.
MIDDLE EAST
Vesey Ventures closed its debut fund of $78m. Its maiden fund will invest in early-stage FinTech companies where opportunities for early partnerships with financial incumbents exist.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.