Hello Fintech Friends,
🚨 Our friends at Sydecar* are hiring a new Marketing Manager in New York, San Francisco, or Seattle to join their team. Sydecar helps you start and run your fund or SPV — so you can focus on making deals, not spreadsheets.
💼 Speaking of jobs - if you're an engineer, we're hosting a virtual Fintech Job Fair for you, starting September 6th!
Come join other engineers, in our community of 65k+ fintech fans, to find your next opportunity at an amazing company. Want to join? Click the image below. 👇
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.
UK fintech companies raised £1.5 billion in the first half of 2023, a 78% drop from the same period last year, but still a large enough amount to rank second as a country globally. According to KPMG, fintech funding across Europe was hard hit in the first half of the year, with dollars invested dropping from $63.2 billion across 2,885 deals in H2 2022 to $52.4 billion across 2,153 deals in the first half of 2023.
💸 Venture Financing
Micro Connect, a crowd revenue-based financing platform for small businesses in China, raised $458 million at a $1.7 billion valuation.
Tradeshift, a platform for building B2B payments, supply chain procurement and B2B marketplace services, raised $70 million (with $35 million coming from HSBC in the form of a joint venture).
Finda, a South Korean loan comparison platform, raised a $37 million Series C.
Hi, a crypto banking platform (in the screenshot below), raised $30 million.
GlossGenius, a payments and booking platform for beauty businesses, raised a $28 million Series C.
Petal, a consumer credit card issuer that uses cash-flow to underwrite thin credit borrowers, raised $20 million in new equity and secured a $200 million debt facility from Victory Park.
DebtBook, which works with local governments, nonprofits, higher education, and similar organizations to manage debt, leases, and subscriptions, raised $12.5 million.
KnotAPI, a card-on-file-switching and deposit-switching API for financial services providers, raised a $10 million Series A.
Pockit, a UK financial services app for underbanked consumers, raised $10 million in new funding.
Revalue Nature, a UK firm which provides financing and credit for carbon projects, raised $10 million.
Sk3w Technologies, which helps financial exchanges establish access to markets, raised a $7 million Series A.
40Seas, an order-now-pay-later cross border digital financing solution, raised $6 million in additional seed capital, bringing the total size of the round to $17 million, and raised a $100 million credit facility to finance its customers.
Traction, a Nigerian merchant payments acquiring platform, raised a $6 million seed.
Orbital, a UK fiat and crypto payments platform, raised £5 million.
Emtech, a central bank digital currency-as-a-service platform working with governments, raised a $4 million seed.
MasterExchange, a music royalties marketplace, raised $2.7 million.
Mthmr, a Saudi personal expense management company, raised $1.6 million (6 million SAR).
Financial Information Technologies, a payments provider for the beverage and alcohol industry, received strategic financing from General Atlantic.
Capitaliz, a business valuation platform, raised an undisclosed amount of funding.
Toss, the largest South Korean neobank, is reportedly close to raising a second round of $154 million (after raising $154 million in March), and may raise a third round of $150 million before the end of the year, at a $2.1 billion valuation.
💵 Debt Financing
Mercury Financial, a credit card provider for the American middle class, secured a $200 million debt facility.
Business cash-flow management provider Settle secured a new $145 million line of credit from Silicon Valley Bank.
Small business neobank Novo secured a $125 million line of credit from Victory Park for its new small business working capital product.
