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Weekly Funding Highlights – 3 November 2021

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including payments, fintech, security, anti money laundering, mobile wallets and more. Enjoy reading!

Philippines’ Mynt secures $300 million from Warburg Pincus, other investors
Mynt (Metro Manila, Philippines), the company behind Philippine mobile wallet GCash said that it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion. The company has 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year. Read more.

Fintech unicorn HoneyBook strikes $250 million in Series E
HoneyBook (San Francisco, CA, US), a fintech company, announced on Wednesday that it has raised a $250 million Series E, doubling its valuation to $2.4 billion. The round was led by Tiger Global Management with participation from Durable Capital Partners, Norwest Venture Partners, Citi Ventures, and OurCrowd. Read more.

Vastu Raises US$200M in Series C Financing
Vastu Housing Finance Corporation Ltd. (Mumbai, Maharashtra), an Indian housing finance company, raised US$200m in Series C financing. Creation Investments Capital Management LLC, and Norwest Venture Partners, co-led the round with each investing US$75m in the company. Mumbai-based IIFL Finance is investing US$50m. Read more.

Berlin’s fintech grabs $100M in world’s largest B2B BNPL funding to expand into UK
Billie (Berlin, Germany), a Buy Now, Pay Later (BNPL) payment methods for businesses sector company, has announced Series C funding round of $100 million to expand into the UK and other international markets. The fintech’s valuation has increased to $640 million and has nearly quadrupled since the last funding round. Read more.

Prepaid Technologies Raises $96M in Growth Funding
Prepaid Technologies (Birmingham, Ala.), a provider of prepaid digital payment solutions, raised $96m in growth funding. The company will use the proceeds to accelerate its market expansion and continue to advance its technology payments platform and customer-focused prepaid solutions. Read more.

Fintech Startup Extend Secures $40 Million in Series B Funding 
Extend (San Francisco, CA, US), a digital payments infrastructure provider, became the latest payments firm to raise significant funds for the expansion of its operations. The fintech startup raised $40 million in a Series B investment round led by March Capital. Wells Fargo, B Capital, Point72 Ventures, Fintech Collective, Reciprocal Ventures and Pacific Western Bank also participated in the Series B funding round. According to Extend, the company is working on the modernization of the global payments industry. Read more.

M2P Fintech raises funds from Tiger Global, others at $335 million valuation
M2P Fintech (Baesweiler, Germany), specialises in providing digital banking infrastructure to other fintech firms as well as banks, has raised $35 million in a Series C funding round led by Tiger Global at a post-money valuation of $335 million. The fresh capital will be used to enhance its API infrastructure capabilities and expand its reach beyond Asia. An application programming interface, or (API, is a set of tools, definitions, and protocols for integrating application software and services. Read more.

Tiger Global leads $25M investment into Swap, which aims to be ‘LatAm’s fintech factory’ 
Swap (São Paulo, Brazil), a BaaS startup, announced that it has raised $25 million in a Series A led by Tiger Global Management. Swap operates in its home country of Brazil and is looking to use its capital to expand the use cases it serves there. The company aims to specialize by segment from a market and a technological perspective. Read more.

Tarabut Gateway Raises $25M In Funding
Tarabut Gateway (Dubai, United Arab Emirates), an Open Banking platform, raised $25m in two rounds in eight months. Led by Abdulla Almoayed, founder and CEO, Tarabut Gateway provides solutions that allow financial institutions and fintechs to leverage Open Banking to scale their businesses across the region. A licensed Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) in the Middle East & North Africa (MENA) region, the company connects a regional network of banks and FinTechs via a universal application programming interface (API). Read more.

First AML Raises $21M in Series B Funding
First AML (New Zealand), a customer Due Diligence (CDD) and Anti-money laundering (AML) tech company, raised US $21m (NZ $ 30m) in a Series B funding. The round was led by Blackbird Ventures and Headline, together with participation from existing investors Bedrock Capital, Icehouse Ventures and Pushpay founder Eliot Crowther. The company intends to use the funds to expand its solution to Europe and double its global headcount from 90 to 180 employees. Read more.

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