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Weekly Funding Highlights – 27 October 2021

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including payments, fintech, security, crypto,  crowdfunding and more! Enjoy reading!

Invicti Security Receives $625M Growth Investment Led by Summit Partners
Invicti Security (Austin, Texas and Boston, MA, US), an application security testing company, received a $625m investment. The round, which is expected to close during the fourth quarter, subject to standard closing conditions, was led by Summit Partners, which will join forces with Turn/River Capital. In conjunction with the funding, Scott Collins, Managing Director and COO of Summit Partners, will join Invicti’s Board of Directors. Read more.

Crypto exchange FTX raises $420 million from 69 investors, in meme funding round
FTX (Nassau), a cryptocurrency exchange says it has raised $420 million in a new round of funding, valuing the company at $25 billion. Specifically, the company said it attracted a total of $420,690,000 in its latest round, with the numbers “420” and “69″ being an obvious nod to meme culture. Read more.

Brex just signed a term sheet for $300M at a $12.3B valuation
Brex (San-Francisco, CA, US), a fast-growing fintech, has raised $300 million in funding that propels it to decacorn status, just six months after it was valued at $7.4 billion, according to people familiar with the deal. The fact that Brex is now a decacorn is somewhat remarkable, given its relatively young age. Read more.

Parker Conrad’s Rippling is now valued at $6.5 billion — more than Zenefits at its peak
Founded by entrepreneur Parker Conrad in 2013, the HR company Zenefits (San Francisco, CA US) was quickly anointed one of the fast-growing companies in Silicon Valley, with a valuation that soared to $4.5 billion within three years. Rippling just closed on $250 million in fresh funding led by Sequoia Capital Global Equities and Global Growth, with participation from earlier backers Greenoaks, Kleiner Perkins, Founders Fund, Initialized, YC and Threshold Ventures. Read more.

Indian fintech firm Groww valued at $3 bln in new funding round
Reuters – India’s Groww said recently, it had raised $251 million in a new funding round led by ICONIQ Growth, valuing the fintech company at $3 billion. Existing investors Sequoia Capital and Tiger Global also participated in the round. Read more.

Aura Raises $200M in Series F at $2.5 Billion Valuation
Aura, a Burlington, Mass.-based provider of all-in-one digital security for consumers, raised $200m in Series F funding. The round, which valued Aura at $2.5 billion post money and brought total funding to $650m, was led by Madrone Capital Partners with participation from TenEleven Ventures, General Catalyst, WndrCo, Warburg Pincus and Accel. Read more.

Investment Crowdfunding Platform Republic Raises $150 Million Series B Round
Republic, a top investment crowdfunding platform that offers securities under the full stack of US exemptions, has raised $150 million in a Series B funding round. The involvement of international investors was said to point to Republic’s ambition to expand operations around the world. Republic expects to use the funding to expand geographically and develop new investment products, while continuing to scale and anchor its position as an investment firm “operating at the forefront of the digital economy.” Read more.

Tala, fintech for the underbanked, raises $145 million to expand globally and into crypto
Tala (Santa Monica, US), a Fintech start-up, said it raised $145 million in a Series E funding round that the company intends to use to expand its borrowing, savings and money management options across Kenya, the Philippines, Mexico, India and the United States, including crypto offerings. Read more.

Stripe backs India’s Clear in $75 million funding
ClearTax (Bengaluru ,India) said it has raised $75 million in its Series C funding. The round was led by Kora Capital. Stripe, as well as Alua Capital, Think Investments and several other existing investors participated in the round, which brings the startup’s all-time raise to over $140 million. The new round values the Indian startup at over $700 million, according to a person familiar with the matter. Read more.

Brazil’s Hash raises $40M in a round led by QED and Kaszek for its white-label payments software
Hash (Sao Paulo, Brazil), a payment infrastructure fintech, announced today that it has raised $40 million in a Series C funding round co-led by QED Investors and Kaszek. The raise comes just six months after the Brazilian startup raised $15 million in Series B financing led by Alexandria, Virginia-based QED, and brings its total raised to nearly $59 million since its 2017 inception. Read more.

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