Last week, we saw 14 European FinTech deals for a total of 194m€ raised;
Congratulations to crypto wallet company Ledger for its €100m Series C, followed by the all-in-one platform for digital wallet Centurion Invest in a €23m Venture round.
Here is a list of last month's top 10 European FinTech funding deals👇
Other takeaways for March FinTech funding news are:
✔️Number of deals for the period: 56
✔️Total raised for the period: €431.1m
✔️Total raised by the top 10 deals for the period: €338.8m
✔️Average raise for the period: €9.8m
✔️Median raise for the period: €3.35m
REPORT
Harlem Capital released the 2022 Diverse Founder Report in partnership with Crunchbase for the second year in a row.
The 1,128 companies raised $43.7B of capital with a median raise of $6.0M.
Total capital raised decreased from $10.3B in 2021 to $4.4B in 2022, split equally between Black and Latino founders.
👀 NEWS HIGHLIGHT
Fourthline raised €50m from new and existing institutional investors. The company provides banks and financial services providers with a complete suite of tech products that adhere to local KYC, AML, and GDPR requirements in Europe and beyond.
📰 ARTICLE
The FinTechs that have gone public since March 2020 have had a turbulent time on Wall Street. The average name on the list trades 54% below the offer price. Only Futu Holdings and Billcom are significantly up from their initial public offering.
💰 VC FUNDS
Kaszek Ventures raised $975 million across two funds. Kaszek backed more than 120 companies since 2011, which collectively raised more than $15.5 billion in capital.
🤝 M&As
BezoMoney acquired Tigerforce Microfinance, aiming to provide affordable and convenient financial services to unbanked and young individuals in Africa.
FinFit is merging with Salary Finance US, creating a workplace financial platform serving over 10 million US workers.
Tandem Bank acquired the recently-launched money-sharing app Loop Money. Loop is a social network aimed at helping friends and family to lend and borrow money with each other.
Acorns acquired GoHenry, a startup focused on providing money management and financial education services to 6 to 18-year-olds in an all-equity deal.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Ledger raised the bulk of its €100 million funding round at the first close. That values Ledger at €1.3 billion.
⭐️ Quantexa raised $129 million at a $1.8 billion valuation in a funding round joined by HSBC, BNY Mellon, and ABN Amro.
⭐️ TerraPay secures €91.7 million in a round led by IFC, Prime Ventures, Partech Africa, US International Development Finance Corporation, and others.
⭐️ SwissBorg closed a Series A community funding round with $23 million and 16,600 investors.
UK 🇬🇧
Acre secures £6.5m in investment. Aviva, Founders Factory, and McPike Global Family Office joined the funding round as FinTech continues on its mission to digitize the homebuying journey.
Rodeo raised $5m in a round led by LocalGlobe. Rodeo is an app for contractors working in the gig economy, mostly as couriers for companies like Uber Eats.
EUROPE 🇪🇺
Kashet raised £5.4 million. Among others, the firm intends to offer access to digital currencies under Swiss law to clients in the UK, Switzerland, and across Europe.
Finanzguru raised €13 million in a funding round led by SCOR Ventures and PayPal Ventures, joined by existing investors including Deutsche Bank and others.
UnitPlus receives new funding from Martin Zielke, Exxeta Ventures, and others. A seven-figure sum is to be invested in the product structure and its IT platform.
LATAM
Cometa raised $5 million to expand its presence in Latin America and invest in platform development.
ASIA
Alchemy Pay secured $10 million from DWF Labs. The investment will be used to expand its business in Korea and to assist Korean enterprises in achieving greater internationalization.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.