Funding News

Weekly Funding Highlights – 12 January 2022

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT, credit cards, banking and more. Enjoy reading!

French payments fintech Qonto raises €486m
Qonto (Paris, France), a fintech that freelancers and SMEs with banking, has raised €486m in a Series D funding, nudging its valuation to €4.4bn. This latest round is jointly led by new investors Tiger Global and TCV, in addition to eight other new contributors: Alkeon, Eurazeo, KKR, Insight Partners, Exor Seeds, Guillaume Pousaz (’s CEO and founder), Gaingels and Ashley Flucas. Read more.

OpenSea Raises $300M in Series C Funding; Post Money Valued at $13.3 Billion
OpenSea, the popular NFT marketplace, raised $300M in Series C Funding at a post money valuation of $13.3 billion. Paradigm and Coatue led the round with participation from new and existing investors. The company intends to use the funds to

  • 1) accelerate product development,
  • 2) improve customer support and customer safety,
  • 3) invest in the wider NFT and Web3 community, and
  • 4) grow the team.

Read more.

Fintech Brex Confirms $300 Million Funding at $12.3 Billion Valuation
Brex ( San Francisco, CA, US), a Fintech company,  has confirmed the $300 million funding as part of a Series D-2 round led by Greenoaks Capital and Technology Crossover Ventures (TCV). It was reported in October 2021 that Brex had raised $300 million as part of the Series D and the company is now corroborating that report. Brex said that since the company’s founding in 2017, it has raised a total of $1.2 billion from investors and is currently valued at $12.3 billion. Read more.

British fintech PrimaryBid close to finalising $150 mln funding from SoftBank
PrimaryBid (London, UK), a fintech company is close to finalising the details of a $150 million funding round led by SoftBank’s Vision Fund II, Sky News reported on Saturday. The Series C fund-raising was likely to value the company at more than $500 million on a pre-money basis, Sky News said, citing sources. Read more.

Petal Raises $140M in Series D Funding 
Petal (NYC,US), a credit card company created to help people build credit and spend responsibly, raised a $140m Series D round of funding.  The round was led by Tarsadia Investments, with participation from Valar Ventures, CUNA Mutual, Encore Bank, Volery Capital Partners, Gopher Asset Management, RiverPark Ventures, Afore Capital, Gaingels, and a number of other new and existing investors. Read more.

KoinWorks Raises $108M in Series C Funding
KoinWorks (Jakarta, Indonesia), a fintech platform, raised $108m in Series C funding. The round was led by MDI Ventures, the corporate venture arm of Telkom Indonesia, with participation from previous equity investors such as Quona Capital, Triodos Investment Management, Saison Capital, ACV and East Ventures. The funding, which consists of $43 million in equity and $65 million in debt capital, will be used to scale KoinWorks’ solutions and team as the company aims to hire 400 new employees globally to meet demand. Read more.

Novo Raises $90M in Series B Funding
Novo (Miami, Florida), a small business banking platform, raised $90m in Series B funding at a $700m valuation. The round, which brought Novo’s total funding to more than $135m, was led by Stripes with participation from existing investors Valar Ventures, Crosslink Capital, Rainfall Ventures, and BoxGroup. In conjunction with the funding, Saagar Kulkarni, Partner at Stripes, will be joining Novo’s Board of Directors. Read more.

FPL Technologies raises $75 million in funding at $750 million valuation
FPL Technologies (Pune, Maharashtra, India), a credit-based fintech, which operates credit score platform OneScore and issues credit cards OneCard, on Tuesday said that it has raised $75 million as a part of its fresh Series C fundraise, at a post-money valuation of $750 million. The round was led by existing investors – QED Investors, Janchor Partners, Sequoia Capital India, Matrix Partners and Hummingbird Ventures. Read more.

Fintech company Transigo earns $70M in funding to expand cross-border B2B marketplaces services
Transico (CHATENAY MALABRY, ILE DE FRANCE, France), a fintech company and a provider of software-as-a-service for cross-border B2B marketplaces with point-of-sale financing, has announced it secured up to $70 million in a funding round. The company plans to use this funding to expand this platform to major B2B marketplaces in Asia in 2022, according to a press release. Read more.

CellPoint Digital Raises $25M in Funding
CellPoint Digital (London, UK),a global provider of digital commerce and payment solutions, received $25M in equity financing. Toscafund and its private equity arm, Penta Capital, made the investment, which brought total funding to over $56M. The funding will be used to extend the company’s global reach and penetrate new market verticals. Read more.

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