#DoneDeal FinTech Funding News #44
Weekly Funding news up to Friday, November 4th, 2022
REPORT
FinTech has received special attention during this downturn as a category hit harder than most. While this is true, context is important.
Prior to the correction this year, the sector was trading at 40x – 60x forward gross profit multiples, a massive increase from even a few years ago.
👉 Read more interesting stats, figures, and views in the full article (and download the full report) by Coatue here.
REPORT
Africa has enjoyed an early-mover’s position in the application of fintech in effecting financial inclusion and economic transformation.
👉 Download the full Mastercard report here.
👀 NEWS HIGHLIGHT
Today I have an interesting Q&A to share with you. Meet Arjun Vir Singh. One of the leading LinkedIn voices for the Gulf Region, he’s an avid commentator of the FinTech scene and a Partner with Arthur D. Little (ADL) based in Dubai, UAE 👇
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💡INSIGHTS
Last week, €195m was raised across 14 European FinTech deals.
👉 Read the full BlackFin Tech article by Régis Bouyoux here.
🧐 ANALYSIS
In total there were 21 Indian FinTech seed deals in Q3 2022, a 23% decrease from the previous quarter.
👉 Check Top 10 FinTech seed deals in India from Fintech Global here.
🦄 UNICORN CLUB
Wise bagged £300 million in capital in the form of a syndicated debt facility from Silicon Valley Bank. Link here.
💰 VC FUNDS
Nasdaq Ventures backs corporate treasury fintech's $7.3M Series A. Link here.
Nordic VC Inventure closes €150m fund and opens for angel investments. Link here.
Francisco Partners backs the growth of the restaurant tech platform TouchBistro. Link here.
🤝 M&As
Payhippo acquired Maritime Microfinance Bank (MFB), a financial institution specializing in saving products, demand deposits, and investments as well as micro and SME loans. Link here.
Ampla Technologies acquires Upside Financing; forms new product Ampla Pay Later. Link here.
Bakkt Holdings, Inc. signed a definitive agreement to acquire Apex Crypto, LLC from Apex Fintech Solutions, Inc. Link here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Money Fellows raised $31 million in what it describes as the first close of its Series B investment. Link here.
⭐️ Global FinTech financing activity totaled $4.8 billion across 265 deals in October 2022 with ten $100 million+ funding rounds. Link here.
⭐️ Swiss FinTech companies raised $384m in Q3 2022 which pushes Swiss FinTech investment projections in 2022 to over $1.1bn. Link here.
UK 🇬🇧
Plend raised £40 million in seed funding. Link here.
EUROPE 🇪🇺
Funding for Portuguese fintech has exceeded the €1bn mark for the first time. Link here.
The European Investment Bank (EIB) is investing €15 million into Izicap. Link here.
USA 🇺🇸
Lama AI announces a $9 million seed investment to unlock credit opportunities for small-medium businesses. Link here.
iink Payments raises $3.0 MM in seed II to streamline P&C claims payments for the insurance restoration industry. Link here.
A16z’s flagship crypto fund dropped 40% in value. Link here.
Zest AI raised over $50 million in a new growth round. Link here.
Bitwise is expanding from passive to active management in an effort to attract more institutional investors. Link here.
LATAM
Mattilda raises USD $10M to help Latin American schools streamline financial processes. Link here.
Vixtra raised $3 million in a pre-Series A round led by Valor Capital. Link here.
ASIA
Tinkoff raised $16 million to launch a fintech start-up focused on Southeast Asia and initially targeting the Philippines. Link here.
Udaan raised $120 million and aims to go public in 12 to 18 months. Link here.
Decentro raises $4.7M in Series A funding round. Link here.
MIDDLE EAST
Trigo Vision Ltd. raised $100 million. Link here.
Bahrain attracts US$72.7 million worth of investment in financial services. Link here.
PayTabs launched super payments platform. Link here.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.