Find out the latest deals and transactions from fintech! Topics of interest for this week include: consumer credit, venture capital, digital finance, corporate cards, expenditure management, open banking, blockchain and more! Dive into the investments and discover the most relevant names from the industry. Happy reading!
Better.com raises $500M (€418M) and is valued at $6Bn (€5Bn) (Techcrunch)
Better.com (New York, USA), a financial services company, has raised a $500M (€418M) round from Japanese investment conglomerate SoftBank that values the company at $6 billion. The investment brings Better.com’s total funding raised to over $900 million (€753M) since its 2014 inception. Read more
Plaid bags $425M (€355M) in funding (Siliconrepublic)
Plaid (San Francisco, California, USA), a fintech company, has raised $425m (€355M) in a Series D round and is now reportedly valued at more than $13bn (€11Bn). The new round of capital was led by Altimeter Capital with participation from Silver Lake Partners and Ribbit Capital. The company will be expanding further internationally and expects to see increasing demand for fintech and open banking specifically. Read more
auxmoney Receives €250M Investment (Finsmes)
Auxmoney (Düsseldorf, Germany), a digital-lending platform for consumer credit, secured a €250m investment for its marketplace loans, led by Raffael Johnen, CEO of auxmoney. Through proprietary risk models and digital processes, the company aims to improve access to affordable credit while reducing the risk and cost of lending. Read more
Harlem Capital raises $134M (€112M) for its second fund (Fintech Futures)
Harlem Capital, (New York, USA), a venture capital firm, has raised $134 million (€112M) for its second fund. The fund maintains Harlem Capital’s commitment to minority and women founders but is shifting focus to early seed stage investments in companies that are post-product. The new fund will remain industry agnostic, but there will be a deeper focus on enterprise and consumer technology. Read more
Ramp confirms $115M (€96M) raise at a $1.6Bn (€1.3Bn) valuation (Techcrunch)
Ramp (New York, USA), a corporate cards provider and spend management software, announced that it has closed $115 million (€96M) across two investments, the latter of which valued the company at $1.6 billion (€1.3M). Read more
Groww becomes unicorn after closing a $83M (€69M) Series D funding (Finextra)
Groww (Karnataka, India), an investment app, has raised $83 million (€69M) in Series D funding round led by Tiger Global, earning Fintech unicorn status. The round was joined by Sequoia Capital India, Ribbit Capital, YC Continuity and Propel Venture Partners, which brings the company’s value to $1 billion. The firm intends to use the new funding to expand its product suite, make hires, and beef up its financial education content targeting millennials. Read more
TrueLayer raises $70M (€58M) for its open banking platform (Techcrunch)
TrueLayer (London, UK), a startup that offers friendly platforms for companies to utilise open banking, is disclosing $70 million (€58M) in new funding. The Series D round is led by new investor Addition with participation from Anthemis Group, Connect Ventures, Mouro Capital, Northzone and Temasek, Visionaries Club, Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS). TrueLayer aims to expand its engineering, product and commercial teams. Read more
Mastercard and UBS have joined a $65M (€54M) funding round for ConsenSys (Finextra)
ConsenSys (Brooklyn, NY, USA), a blockchain software engineering firm, has raised a $65 million (€54M) funding round with participation from JP Morgan, Mastercard and UBS. For ConsenSys, the funding will be used to accelerate the convergence of decentralized finance (DeFi) and Web3 applications on Ethereum with enterprise blockchain infrastructure. Read more
Alpian raises €15.1M to launch its digital bank in the Swiss market (Silicon Canals)
Alpian (Geneva, Sweden), a digital finance services startup, has raised $18M (€15.1M) in its Series B funding round. The latest funding will allow Alpian to finalise the development of its digital offering tailored for the mass affluent population, individuals with investable assets. The company stated that the Series B fundraising is intended to be principally used to launch the bank in the Swiss market, subject to the issuance of a full banking licence by FINMA. Read more
Abacum was supported by YC, netted $7M (€5.8M) (Techcrunch)
Abacum (San Francisco, CA, USA), a computer software company, raised a $7M (€5.8M) seed round with participation from notable investors including PROFounders, and K-Fund, Justin Kan (Atrium and Twitch co-founder and CEO); Maximilian Tayenthal (N26 co-founder and co-CEO & CFO); Thomas Lehrman (GLG co-founder and ex-CEO), Avi Meir (TravelPerk co-founder and CEO); plus Jenny Bloom (Zapier CFO and Mailchimp ex-CFO) and Mike Asher (CFO at Neo4j). The investment is to empower the finance function to collaborate more easily across the business and bolster its strategic decision-making capabilities. Read more
Vybe raises $2.9M (€2.4 million) for its challenger bank for teens (Techcrunch)
Vybe (Paris, France), a financial services startup, has raised a $2.9 million funding round (€2.4 million) to build a challenger bank for teens with participation from investors Ronan Le Moal (the former CEO of Crédit Mutuel Arkéa), Kick Club and Manoel Amorim. The company is currently testing its product with a soft launch. Users get a Mastercard payment card paired with an e-wallet. Transactions are available to be viewed by parents. Read more
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