FinTech News – Weekly Summary by Nik Milanović

This article has been published in partnership with Nik Milanović (bio at the end of the article) and taken from This Week in Fintech, his weekly newsletter.

Venture Financing

  • Feedzai raised a $200 million Series D at a $1 billion valuation to continue building out its AML and financial fraud ID tool.
  • Jumio raised $150 million for its financial fraud ID platform.
  • Crypto infrastructure provider Fireblocks is now targeting banks to provide them with crypto services. It raised a $133 million Series C to do so.
  • Accounting software firm Pilot raised $100 million at a $1.2 billion valuation.
  • Airwallex, a cross-border payments firm, raised a $100 million Series D extension at a $2.6 billion valuation.
  • UK-based payments provider PPRO extended its latest round with another $90 million.
  • KOHO Financial, a Canadian neobank, raised a $70 million Series C.
  • KreditBee, an Indian FinTech lending platform, raised a $70 million Series C.
  • Freetrade, a UK stockbroker app, raised a $69 million Series B.
  • Greenwood, the neobank for communities of color, raised a $40 million Series A.
  • Vórtx, a Brazilian fund manager service provider, raised a $35 million Series B.
  • Rupeek, an Indian gold-based lending platform, started its Series E fundraise with $33 million.
  • VoxSmart, a financial market communications surveillance platform, raised $25 million.
  • Incode, an ID verification platform for financial services institutions, raised a $25 million Series A.
  • Maxwell, a digital mortgage platform for lenders, raised a $16.3 million Series B.
  • Middesk, a KYB business ID verification startup, raised a $16 million Series A.
  • Pluang, an Indonesian savings and investment app, raised a $20 million pre-Series B.
  • UK peer-to-peer lender Zopa raised £20 million following the launch of its neobank.
  • Polly, a mortgage SaaS platform, raised a $15 million Series A.
  • Meniga, a UK provider of software to banks, raised €10 million.
  • LenderClose, a home equity lending platform, raised a $10 million Series B.
  • Lev, a financing platform for real estate transactions, raised a $10 million seed round.
  • Leaf Trade, a payments platform bringing banking services to the cannabis market, raised a $5.5 million Series A.
  • Swedish FinTech Zaver raised $5 million to bring cardless buy-now-pay-later to offline, hard goods purchases.
  • Creative Juice raised $5 million to build a similar platform to Stir for creators.
  • Fraud-detection-as-a-service platform Sardine raised a $4.6 million seed round.
  • FlexxPay raised $4.5 million to give Saudi workers early access to their payroll.
  • Rupifi, an Indian financing platform for SMBs, raised $4.1 million in pre-Series A funding.
  • Enthuse raised a £3.5 million Series A to build a philanthropic donation payments platform.
  • Baubap, a Mexican mobile lender, raised a $3 million growth round.
  • Osu, a payments app for self-employed workers, raised a £2.25 million seed round.
  • Bankly, a Nigerian startup digitizing payments for unbanked consumers, raised $2 million from backers including Flutterwave.
  • Vest raised a $1.75 million pre-seed to build savings and investment services for Mexican consumers.
  • Afriex raised a $1.2 million seed round to build a remittance platform for Africa.
  • Jeff raised $1 million to build unbanked consumer alternative credit scoring for FinTechs in Southeast Asia.
  • Sivo raised $5 million to build a debt-as-a-service platform.
  • Brick, an Indonesian open banking FinTech API, raised a seed round.
  • Flux raised a $77,000 pre-seed to build crypto remittances for Africa.
  • Turkish payment processing FinTech DgPays raised money from the European Bank for Reconstruction and Development and Goldman Sachs.

Exits and M&A


  • Robinhood filed confidentially for IPO and is planning to let its users participate.
  • AvidXchange, a small business payments automation platform, is prepping for a Q2 US IPO that could value the company at $7 billion.
  • Indian payments platform MobiKwik is targeting a Q3 IPO that could value the business at $700 million.
  • French CRM Quadient acquired accounting orchestration layer Beanworks for €70 million.
  • US options exchange operator Cboe Global Markets acquired Chi-X Asia Pacific to expand its markets into Japan and Australia.
  • CashRich, an Indian WealthTech company, acquired robo-advisor WealthApp's mutual fund distribution business.
  • Private equity firm Thoma Bravo is acquiring cross-asset financial markets software Calypso.
  • Dutch stock exchange Euronext is divesting asset manager platform Centevo to Profile Software.
  • UK payroll platform Wagestream acquired its Australian counterpart Earnd from the collapsed Greensill.
  • ID authentication platform Prove acquired FinTech insights and alerts platform MEDICI Global.
  • The UK’s Competition and Markets Authority has blocked Crowdcube’s proposed merger with Seedrs.


  • The Bank of East Asia is selling its life insurance unit to AIA Group for $653 million.
  • Wells Fargo agreed to sell its corporate trust services to Computershare.
  • Spain’s Banco Santander agreed to buy the 8.3% stake in its Mexican unit that it doesn’t currently own.
  • Greece’s National Bank sold its insurance unit to private equity group CVC Capital.


  • FinTech investment bank FT Partners raised a $500 million SPAC to pursue a financial services target.

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