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Weekly Funding Highlights – 8 December 2021

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, loans, regtech, insurtech, cloud technology, startups and more. Enjoy reading!

MoonPay Closes $555M Funding Round
Moonpay (Palm Beach, Fla.)a crypto payments infrastructure provider, closed a $555m Series A financing. The round, which brought the post-money valuation to $3.4 billion, was led by Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA. Read more.

B2B Fintech Unicorn Tipalti Raises $270 Million at a Valuation of $8.3 Billion
Tipalti (San Mateo, CA, US), the leading global payables solution, announced it has raised $270 million in series F funding at a valuation of $8.3 billion, bringing total funding raised to date to just over $550 million and placing Tipalti among the most valuable private fintech companies in the world. Tipalti will use the funding to accelerate its product roadmap and customer operations, as well as expand globally to transform global financial operations for high-velocity customers. Read more.

Hong Kong fintech unicorn WeLab raises $240M to buy Indonesian bank
WeLab (Hong Kong), a  fintech unicorn, announced its acquisition of Bank Jasa Jakarta (BJJ), an Indonesian commercial bank. A consortium led by WeLab has raised $240 million from existing and new investors, which the company claimed was the largest fintech funding in Indonesia this year. The capital will go toward acquiring BJJ’s stakes and “tech investments,” the company said. Read more.

Mexico’s Incode gets unicorn status after $220 million funding round
Incode (San Francisco, CA, US), a verification and authentication platform received $220 million in its latest funding round, the company’s chief executive said on Tuesday, turning the company into Mexico’s sixth tech unicorn. Incode, which was founded in 2015 and develops verification software for banks, hotels, and hospitals, among others, is valued at $1.25 billion following the investment, allowing it to join the club of unicorns, which are startups valued at $1 billion or more. Read more.

TeraWulf Raises $200M in Funding
TeraWulf Inc. (Easton, Md.), a company formed to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States, raised approximately $200m in debt and equity financing. The company intends to use the funds to enable it to achieve 6 exahash per second, or 200 megawatts, of mining capacity by the second half of 2022. Read more.

TradeDepot Raises $110M in Series B Funding
TradeDepot (Lagos, Nigeria), a B2B eCommerce and embedded finance platform, raised $110m in equity and debt funding. The round was led by the International Finance Corporation (IFC) – a member of the World Bank Group, with participation from Novastar, Sahel Capital, CDC Group, Endeavor Catalyst and existing investors, Partech and MSA Capital. The debt funding was led by Arcadia Funds.  Read more.

French fintech startup Lydia raises $100 million in Series C funding round
Lydia (Paris, France), a crypto-friendly fintech startup has raised $100 million in a Series C funding round. The round was led by investors Tencent and Accel and saw participation from Dragoneer and Echo Street. The fintech startup aims to use the fresh capital to expand its footprint in Europe. Read more.

Hometap Raises $60M in Funding
Hometap (Boston, MA, US), a provider of a new loan alternative for tapping into home equity without taking on debt, raised $60m in new operating capital. The round, which brings total operating capital raised to date by Hometap to $95m, was led by American Family Ventures along with new and existing investors including Bain Capital, ICONIQ Capital, LLC, G20 Ventures, Pillar, and General Catalyst. Read more.

Female-Founded Finnish FinTech Enfuce Raises $51M in Series C 
Enfuce (Espoo, Finland), a female-founded payment services provider  raised €45 million ($51 million) in a Series C investment round led by Vitruvian Partners, with participation by Tencent, Maki.vc and other early-stage investors. Among the leading European card-as-a-service (CaaS) platforms, the startup will use the fresh infusion of capital to support continued expansion around the globe and to build out its technology platform. Read more.

24 Exchange Raises $14M in Funding 
24 Exchange (Hamilton, Bermuda), a  multi-asset class trading platform, raised $14.25m in funding. The round was led by Point72 Ventures. The company intends to use the funds for the continued expansion of its multi-asset trading platform to encompass additional asset classes, including equities and cryptocurrencies. This expansion will bring new trading options to 24 Exchange’s growing base of institutional market clients. Read more.

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