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The Main Edition - Fundraises


THEY WROTE FINTECH OFF, BUT FINTECH DIDN'T WRITE BACK (TWIF 7/15)

NIK MILANOVIĆ

Jul 15, 2023 4 min
- KB

Hello Fintech Friends,

Is fintech coming back? 

Our collection of fundraises over the last two weeks counts 33 new fintech
companies, including:

 * An NFT lending startup (!)
 * Startups from all over the US, Brazil, France, India, Singapore, Switzerland,
   and South Korea.
 * 22 rounds of $10 million or less, signaling rising interest in early-stage
   teams.

You’d be forgiven for thinking that the fintech funding market is recovering...

..which, by the way, is something that we discuss in our Signals Q2 overview,
Every fintech will be an AI company. Check out the distribution of funding
rounds in Q2 vs. Q1, and more here:

And if you’ve ever wondered what is happening across the pond (no, that pond) in
China’s fintech market, you should subscribe to Ning’s great This Month in
Fintech - China:

Please find another week of fintech financing events below. (PS: Have feedback
for us? 👍👎 Let us know!)

--------------------------------------------------------------------------------

If you’re an early-stage startup founder raising equity or debt, we may be able
to help - come check out our fund, The Fintech Fund (including a link to pitch
us). Are you a fintech angel investor? Come join our syndicate.

--------------------------------------------------------------------------------

> 💸 Venture Financing

 1.  Collective, a platform which provides bookkeeping, payroll and tax advice
     to freelancers, raised $50 million in funding.
 2.  Solaris, a European embedded finance provider, raised a €38 million Series
     F at a flat $1.6 billion valuation.
 3.  Dougs, a French accounting startup with €15 million in annual revenue that
     has bootstrapped since 2015, raised €25 million.
 4.  Clair, an app for frontline workers to get paid instantly, raised $25
     million in equity and $150 million in new debt.
 5.  MerQube, a financial indexing platform, raised a $22 million Series B.
 6.  Tandem, a UK neobank, raised £20 million in new capital.
 7.  Jirav, a builder of cloud-based financial planning software for businesses,
     raised a $20 million Series B.
 8.  Mattilda, a Mexican collections and payment processing platform for private
     schools, raised a $19 million Series A.
 9.  RightRev, a cloud-based finance and accounting platform, raised $12
     million.
 10. Numarics, a Swiss digital CFO solution for small businesses, raised €10.2
     million.
 11. Abound, an Indian provider of a remittances app, raised $10 million.
 12. Trunk Tools, a payment platform for construction workers, raised a $9.9
     million seed round.
 13. Moove, a mobility fleet financing startup for South Africa and Ghana,
     raised $8 million.
 14. Ivy, a European API for instant bank payments and settlement, raised €7
     million.
 15. Efficient Capital Labs, a revenue-based financing platform for SaaS
     businesses in the US-Asia corridor, raised $7 million.
 16. CapStack, an operating system for bank loans, raised a $6 million seed
     round.
 17. Gondi, an NFT-backed lending protocol, raised a $5.35 million seed round
     and went live.
 18. TopKey, a financial operation platform for the hospitality sector, raised a
     $5.1 million seed round.
 19. Nest Egg, a wealth management software provider, raised $5 million.
 20. OneAdvisory, a wealth tech platform for financial advisors, raised a $4.3
     million seed round.
 21. FinRes, a French agricultural investment startup, raised €4.1 million.
 22. U Fintech Hub, a South Korean remittances platform provider, raised $4
     million.
 23. KTX.Finance, a Singaporean decentralized perpetuals exchange, raised a $4
     million seed round.
 24. Narval, a French digital asset management startup, raised $4 million.
 25. Roi, an app to track crypto and NFTs alongside traditional brokerage
     holdings, raised $3.6 million.
 26. House Numbers, a homeowner wealth management startup, raised a $3.75
     million seed round.
 27. Equabli, a debt recovery platform for lenders and borrowers, raised $3.35
     million.
 28. OneStack, an Indian open banking software provider, raised $2 million.
 29. AlloyX, a real world asset DeFi vault, raised a $2 million pre-seed.
 30. ESG Bay, an ESG self-assessment platform, raised a £135,000 crowdfunded
     pre-seed.
 31. Sofi, a Brazilian accounts receivable startup, raised BRL470,000 (about
     $100,000).
 32. Komgo, a digital trade finance network, raised funding from Santander.
 33. 73 Strings, a French provider of valuation and portfolio monitoring
     solutions for the private capital industry, raised a Series A.



Source: Finextra

> 💵 Debt Financing

 * Health savings and payment account provider Paytient raised $7.5 million in
   venture debt from Silicon Valley Bank.



--------------------------------------------------------------------------------

> Pssst - if you like early-stage fintech investing, come join our angel
> syndicate.

READ NEXT


PAGAYA RULES EVERYTHING AROUND ME (TWIF 4/23)

Hello Fintech Friends, ⚠️Editor's Note: Because of the double-post from our
publishing software glitch on Friday, I'm combining this week's Saturday and
Sunday posts to avoid cluttering your inbox. What a week for content! First, we
had a great guest post for Signals from Sara Hayden Van Velkinburgh on Why
Nik Milanović Apr 23, 2023


STASH ADDS $40M TO ITS STASH AS IT PREPS FOR IPO (TWIF 10/14)

Hello Fintech Friends, This week was a slower fundraise week for fintech, but
lending software provider Kennek did raise a $12.5 million seed round, so there
are still bonanzas out there if you look. This Week in Fintech is excited to
partner with Elementus to host their NY Tech
Nik Milanović Oct 14, 2023


WELCOME TO FIRST BANK OF DELTA (TWIF 10/8)

Hello Fintech Friends, Please find another week of fintech exits and deep reads
below. (👍👎 Have feedback for us? Let us know!)📖 Read of the WeekI loved
Rohit's writeup this week (with a great graphic) on the nuances of building
different lending products, the processes required, and the vendors that will
Nik Milanović Oct 8, 2023

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