Midas Attracts Global Backers in $80M Funding Round
Weekly Funding news up to Friday, 22nd of August 2025.
👀 NEWS HIGHLIGHT
Kinective has acquired ATM and self-service technology provider ESQ Data Solutions for an undisclosed sum as it looks to enhance its banking operations platform with cash device management capabilities.
Founded in 1989 in California, US, ESQ's product suite comprises three core offerings: OperationsBridge, its flagship solution for ATM management, including real-time monitoring, process automation, and actionable insights; DataEdge for data integration and analytics; and tools for HPE NonStop servers.
🤝 M&As
Circle acquires consensus engine Malachite to power Arc blockchain. The deal includes the underlying technology and intellectual property of Malachite, and nine people from Informal Systems will join Circle, an Informal Systems spokesperson told CoinDesk. The firms didn't reveal details about pricing.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Turkey’s FinTech Firm Midas Attracts Global Backers in $80M Funding Round.
⭐️ Casca raises $29m for AI-based loan origination platform.
⭐️ Virtual credit card app Kiwi set to raise around $23 Mn in Series B.
⭐️ Cointel Raises $7.4M in Strategic Round Led by Avalanche and Sugafam Inc.
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🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Starling extends business banking suite with Ember acquisition. The acquisition, which is reportedly in the sub-£10 million range, will provide Starling with a ready-made suite of bookkeeping and tax tools for solo entrepreneurs and small businesses.
EUROPE 🇪🇺
Coda completes acquisition of Recharge, expanding global reach in digital content monetization and distribution. The acquisition creates a single, trusted partner for the global distribution and monetization of digital content and prepaid products across mobile gaming, entertainment, and lifestyle.
USA 🇺🇸
IVIX raises $60 million Series B to fight financial crime with AI. IVIX will use this growth capital to accelerate its research and development capabilities and widespread adoption of its AI-powered solution to illuminate and combat financial crime at scale.
Blockchain lender Figure Technology reveals revenue surge in US IPO filing. Figure Technology Solutions' revenue surged 22% in the first half of 2025, the blockchain lender disclosed on Monday in its U.S. initial public offering paperwork, the latest crypto-linked firm set to hit the new listings market.
Ripple extends $75M credit facility to Gemini as exchange pursues IPO. Gemini revealed a $282.5 million net loss for the first half, an almost seven-fold increase from the $41.4 million shortfall a year earlier. The filing puts Gemini, which plans to use the ticker "GEMI" on Nasdaq, in line to become the third crypto exchange to trade publicly in the U.S. after Coinbase.
ASIA
IFC leads $21.4M series B for Mongolian FinTech firm And Global. The capital will enable the expansion of AND Global’s AI-driven solutions throughout Southeast Asia and launch new tools specifically designed for financial institutions catering to micro, small, and medium enterprises (MSMEs).
Niyo acquires Kanji Forex and appoints Amit Talwar of IndusInd Bank as CEO of the forex business. It will look to offer forex products across foreign currency, forex cards, and outward remittances, which are allowed as per the regulatory licence. Niyo will further expand Kanji Forex’s physical presence and set up new branches to grow the business.
Temasek-backed FinTech lender Kissht files for Rs 1,000 crore IPO to augment NBFC subsidiary’s capital base. Kissht, which offers digital loans through its mobile application, may also consider a pre-IPO placement worth Rs 200 crore. If it manages to close the pre-IPO round, the fresh issue size will be reduced to the extent of the amount raised.
AUSTRALIA 🇦🇺
Crypto FinTech Block Earner lands $8 million Series A. It plans to use the new capital for local growth and product expansion as well as early-stage moves into international markets. CEO and cofounder Charlie Karaboga said they now build products to help investors use their crypto in the same way they would use their other assets.
AFRICA
South African FinTech Startup TurnStay secures $2 million seed funding to revolutionize travel payments across Africa. TurnStay’s platform facilitates secure, instant, and cross-border payments, reducing delays and operational friction for hospitality businesses.