Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, checkout, investment, banking and more. Enjoy reading!
Checkout.com Raises $1 Billion in Series D Funding
Checkout.com (NYC, US), an online platform that simplifies payments processes for large global enterprise merchants, raised $1 billion in its Series D funding round at a valuation of $40 billion. Primary investors include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, and another large west coast mutual fund management firm. Several other existing investors (Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst & Ribbit Capital) also participated in this round. Read more.
French fintech Qonto secures €486m Series D funding to boost European growth
Qonto (Paris, France), a business banking company targeting small and medium-sized enterprises (SMEs) and freelancers, has landed €486 million in Series D funding, setting “a new record valuation for a French scale-up” of €4.4 billion. The bumper fundraising round, one of the largest in French history, was co-led by new investors Tiger Global and TCV and featured participation from Alkeon, Eurazeo, KKR, Insight Partners, Exor Seeds, Guillaume Pousaz, Gaingels and Ashley Flucas. Read more.
Bolt Raises $355M in Series E Funding
Bolt (San Francisco, CA, US), a checkout and shopper network company, secured $355m in the first part of its Series E funding. Lead investors in this round are funds & accounts managed by BlackRock, with participation from Schonfeld, Invus Opportunities, H.I.G. Growth, and CE Innovation Capital. This new raise brings Bolt’s total funding to nearly $1 billion. Led by Ryan Breslow, founder and CEO, Bolt strengthens retailers’ relationships with their customers by enabling secure, logged-in, lightning-fast checkouts. The company’s network of one-click-checkout-ready shoppers visits Bolt merchants as if they are return customers. Hundreds of retailers currently use Bolt. Read more.
SaaS tech start-up financing platform Arc lands $161m investment
Arc ( San Francisco, CA, US), a software-as-a-Service (SaaS) financing platform, has raised $161 million in funding from equity and credit investors. The platform has emerged from stealth with the financial backing of NFX, Bain Capital, Clocktower, Torch and Y Combinator. A number of angel investors also contributed including founders from companies Vouch, Observe.AI, Eden Workplace, Teleport, RevenueCat, QuickNode, Dover, Middesk, Instabug, and Rainforest QA. Read more.
Spendesk Raises Additional €100M in Series C Funding
Spendesk (Paris, France), a spend management solution for SMBs, raised €100M as an extension to its Series C round in July 2021 (€100M). The round was led by Tiger Global, with all existing investors, including General Atlantic, Eight Roads Ventures, Index Ventures, and eFounders. The company intends to use the funds to invest in growing headcount with the goal to hire 300 new people in 2022 and in its product. Read more.
Facet Wealth Aims for Further Expansion With $100 Million in New Funding
Facet Wealth (Baltimore, Maryland, US), a financial planning fintech secured $100 million in new funding, positioning the five-year-old start-up for a new expansion phase, its CEO says. Facet offers personal financial planning online for a subscription fee, which varies depending on the client’s needs. Facet has no required asset minimums and pairs clients with certified financial planners. The firm’s model stands apart from most of the wealth management industry, which tends to charge commissions or fees based on assets under management. Read more.
Israeli fintech Personetics raises $85M for tools to help incumbents personalize banking services to compete with neobanks
Personetics (Tel Aviv-Yafo, Israel), which has built AI-based technology for banks to personalize their offerings — for example understanding a users’ spending habits, and combining that with larger datasets, to offer advice for savings, based on a customer’s spending patterns — has raised $85 million, funding that will go towards expanding the tools that Personetics provides to banking customers, as well as to expand its base of users. Read more.
Berlin-based fintech soonicorn Moss scores €75 million for its holistic spend management platform
Moss (Berlin, Germany) , a fintech startup has just closed its Series B funding round of €75 million and has now hit a valuation of over €500 million, putting it on the fast track to achieving unicorn status less than two and half years since it was founded. Tiger Global Management led this new funding round with participation from A-Star – a mere six months after the startup banked €25 million from Peter Thiel’s VC firm Valar Ventures, with participation from Cherry Ventures and Global Founders Capital. Read more.
Pluang Raises Additional $55M in Funding
Pluang (Jakarta, Indonesia), an all-in-one fractional investing app, raised $55m in funding. The follow-on round was led by Accel and brought total funding to $110m. Investors included Trung Nguyen, Andy Ho, Aleksander Leonard Larsen, and Jeffrey Zirlin (Axie Infinity founders), Alexa von Tobel (former Learnvest CEO), Daniela Binatti (Pismo CTO), Sujata Bhatia (Monzo COO), Jannick Malling and Leif Abraham (Public.com co-CEOs), Raghu Yarlagadda (FalconX CEO), Sergio Jimenez (Flink CEO), The Chainsmokers, BRI Ventures, Gold House, as well as previous investors Square Peg, Go-Ventures, UOB Venture Management, and Openspace Ventures. Read more.
AcreTrader Raises $40M in Series B Funding
AcreTrader (Fayetteville, GA, US), a technology company that dynamically connects investors, land, and farmers, raised $40M in Series B funding. The round, which brings total funding to $58m since inception, was led by Anthemis Group and existing investors. The company intends to use the funds to further scale its platform, expand its team of technology, finance, and agriculture experts, and work with farmers and landowners to build the market. Read more.
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