Wagestream Raises £300M to Expand its Affordable loan Solution
Weekly Funding news up to Friday, 9th of May 2025.
WEEKLY FUNDRAISING ACTIVITY
👀 NEWS HIGHLIGHT
Bank Alfalah, a leading Pakistani commercial bank, on Monday announced it had acquired 9.9 percent equity stake in Dubai-based fintech firm Jingle Pay, underscoring the bank’s commitment to driving digital transformation and fostering financial inclusion in Pakistan and across other markets.
With over 1,000 branches across 200 cities and an international presence in the United Arab Emirates, Bahrain, and Afghanistan, Bank Alfalah offers various products and services to private-sector institutions and governments, and has established itself as a premier digital bank.
🤝 M&As
Employer.com scoops up another FinTech in purchase of MainStreet.com. Employer.com Chairman and Co-Founder Jesse Tinsley said the two companies were “merging forces to simplify business back office solutions into one powerhouse platform.”
Corpay and TPG secure AvidXchange in a $2.2 billion acquisition. This acquisition accentuates the increasing consolidation trends within the industry, particularly among FinTech firms aiming to enhance their capabilities and market presence.
German WealthTech Fincite merges with France's Harvest. This partnership sets the stage for accelerated European expansion with a clear goal: to double the group’s revenue within the next four years. By joining forces, they will pursue strategic acquisitions to expand their product portfolio, geographical footprint, and better serve their target audience.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ Indian FinTech firm BharatPe raises $15m in debt funding.
⭐️ Wagestream secures £300M in debt financing to grow its low-cost loan alternative.
⭐️ Agree.com raises $7.2M to take on Docusign, Bill.com with AI.
⭐️ IntoTheBlock and Trident announce merger, raise $25M for new firm.
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🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
FinTech Tide targets unicorn status with $ 1 B+ valuation in upcoming share sale. It is planned to be mainly a secondary share sale, which would offer liquidity to existing investors, but could also see Tide issue new equity. The share sale is likely to take place in the second half of this year.
EUROPE 🇪🇺
Amsterdam-based Duna has announced its €10.7 Million Seed round. The funding will be used to accelerate product development and expand its network across Europe and beyond. Duna’s platform is already used by Plaid, Bol, Moss, Sequra, and Brand New Day Bank. Read more
Finom, a challenger bank aimed at SMBs, lands $105M in growth funding from General Catalyst. The capital infusion “will be used exclusively and only for growth” and not for operational expenses or product development, Kos Stiskin, Finom’s Chairman and Co-Founder, said.
German expense management firm Circula secures €15 million in funding. This investment will accelerate the company’s path to solidify its position as the market leader in expense management. Continue reading
USA 🇺🇸
Republic Digital acquisition company, raises $300 million following IPO. The SPAC deal was initially reported to have raised $264 million. However, after the float was completed and the underwriters’ allotments were filled, the sale amount was pegged higher.
Doppel lands $35m funding round to boost AI-powered digital risk platform. The company plans to use the funds to scale its platform and meet growing enterprise demand. Doppel’s valuation now stands at $205m, bringing its total funding to $54.4m.
Visa makes landmark BVNK investment in ‘powerful validation’ of stablecoins’ payments future. It follows a variety of other stablecoin-related partnerships by Visa as it works to connect its ecosystem of around 4.8 billion cards, 150 million accepting merchants, and 14,500 financial institutions with the crypto ecosystem.
ASIA
XWeave secures US$3 million funding for stablecoin cross-border payments. The funding will be used to expand XWeave’s network across non-G10 payment corridors in Asia and the Middle East, including the UAE, Indonesia, Japan, and Hong Kong.
Blinq lands $25M to further its mission to make business cards passé. The app lets users create several customized digital business cards for different needs and connect with contacts using them. The app can also automatically capture details and sync them with CRM systems.
Iterative backs SG FinTech firm Seedflex’s $3.2m seed extension. The funding was co-led by Z Venture Capital and Iterative, with participation from 500 Global and angel investors. The capital will support Seedflex’s expansion across Southeast Asia, with a planned launch in Indonesia later this year.
AFRICA
Ghanaian FinTech company Zeepay secures $18m debt funding to accelerate expansion. The new funding will provide crucial float financing support, ensuring Zeepay can manage liquidity demands associated with real-time mobile money transactions and international remittances.