Brought to you in partnership with Finley.
Hello Fintech Friends,
📈 Keeping up with the breathless pace of fintech can be hard... as soon as I hit 'send' on yesterday's newsletter, Twitter announced a partnership with eToro to let users trade stocks and crypto on the app.
💡 We're excited to announce our next AMA, which will be this coming Thursday, April 20th, with Jonah Crane! Jonah is an expert on the intersection of regulation, policy, and fintech - especially relevant in light of the recent banking meltdown. He is a partner at Klaros Group, which provides regulatory consulting to fintechs, and Regulator in Residence at Fintech Innovation Lab and a Mentor at Queen City Fintech. Come join us on 4/20 in the Finnovation Slack.🇨🇳 And if you missed it, out newest This Month in Chinese Fintech from Ning Ye came out this week. In the wrap-up, Ning sat down with Edith Yeung, the general partner of Race Capital, to get her take on Chinese government intervention in fintech.
👍👎 Have feedback for us? Let us know!
Please find another week of fintech financing events below.
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Sponsored Content
Capital strategy will determine the winners and losers of fintech in 2023. See how fintech leaders like Ramp, Arc, and Parafin are partnering with Finley to maximize and secure their debt capital access, while saving hundreds of thousands in in-house development costs. Explore Finley's credit facility management software today.
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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
Clear Street, an independent prime broker providing investment banking services, raised a $270 million Series B at a $2 billion valuation.
Altruist, a custodian and software builder for investment advisors, raised a $112 million Series D.
PhonePe, the Indian payments giant, raised ANOTHER $100 million, tacking it onto the $350 million it just announced in a round that has grown to $750 million.
Alphasense, an AI-based market intelligence and search platform, raised a $100 million Series D.
Sei, a trading-focused blockchain layer, raised $30 million at an $800 million valuation.
Elevate, an employee benefits platform that provides flexible spending accounts and a contactless payment card, raised $28 million.
Tradier, an API-powered retail brokerage, raised a $24.6 million Series B.
Earned, a wealth management platform, raised a $12 million Series A.
Spendflo, a SaaS spend management tool builder, raised an $11 million Series A.
Next Gate Tech, which builds data management software for funds, raised €8 million from Deutsche Börse.
Brassica, an institutional alternative investment platform, raised an $8 million seed.
Xclaim, a marketplace for crypto platform bankruptcy claims, raised $7 million.
Martini.ai, a credit rating system for private companies, raised a $6 million seed round.
Kala, an embedded banking infrastructure builder in Colombia, raised $4 million.
Assis, a virtual financial assistant for freelancers, raised $5 million.
Hakbah, a Saudi Sharia-compliant savings platform, raised a $2 million pre-Series A.
BetterTradeOff, a Singaporean financial advice app, raised funding from Standard Chartered.
Built, a financial platform for construction, raised a strategic investment from Citi.
💰 Venture Funds
Asian crypto derivatives exchange operator Bitget debuted a $100 million fund for Asian startups.
6/ So the 50 largest tech IPOs since 2020 are down 59% vs day of IPO.
But in Q4’22, Series C/D vals were up 20% & 30% vs 2020
WTF is right
A lag - sure
But this made zero sense
In fact, of top 20 tech IPOs since '20, 90% (18 of 20) currently trade lower than their @ IPO val pic.twitter.com/S7k6tKrmXx— Anand Sanwal (@asanwal) April 9, 2023
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Sponsored Content
Capital strategy will determine the winners and losers of fintech in 2023. See how fintech leaders like Ramp, Arc, and Parafin are partnering with Finley to maximize and secure their debt capital access, while saving hundreds of thousands in in-house development costs. Explore Finley's credit facility management software today.
