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Weekly Funding Highlights – 13 April 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!

Coda Payments raises $690M for cross-border payments and alternative app stores
Coda Payments ( Singapore), has raised $690 million in funding to enable cross-border payments for games and other digital products, as well as alternative app stores. While the funding amount is impressive, no money will go to the company as existing longtime shareholders are selling their stakes to the new investors. Smash Capital, Insight Partners, and GIC invested funds to acquire a minority stake in the Singapore-based company as it expands to more territories. Bloomberg reported the valuation of the company was $2.5 billion. And while it’s a secondary recapitalization, it shows that investors still have confidence in Coda Payments as it grows bigger. Read more.

Fintech turns on capital taps with $200m funding for US expansion 
Capital on Tap (London, UK), a fintech, has secured a $200m (£153.6m) investment from HSBC and Värde Partners to continue expanding its SME funding service in the US. The alternative lender initially focused on the UK market but launched a US business credit card in March 2021. Across both markets, it has provided more than £3.5bn in funding to over 125,000 SMEs. It provides a credit facility of up to £150,000 and doesn’t charge for ATM use in the UK. Read more.

Binance.US raises over $200 million at a $4.5 billion pre-money valuation
Binance.US (San Francisco, CA) has closed its first funding round, raising more than $200 million at a $4.5 billion pre-money valuation. The exchange plans to offer new products and services organically or through strategic M&As. Binance.US, the American affiliate of global crypto exchange Binance, has closed its inaugural funding round after months of seeking it. Read more.

Brazilian challenger Stark Bank raises $45m funding
Stark Bank (São Paulo, Brazil), a financial services challenger  has received a $45 million investment led by Ribbit Capital, Lachy Groom and Amazon founder Jeff Bezos’ firm Bezos Expeditions, according to Reuters. Stark Bank’s latest investment comes four months after it raised $13 million from venture capital investors in a Series A round, which saw participation from VC firms K5 Global, Iporanga Ventures and Norte Ventures. Read more.

Israel Fintech Startup RiseUp Raises $30 m for its Digital Platform
RiseUp (Tel-Aviv, Israel),a fintech startup, announced this week the completion of a $30 million Series B funding round to further augment the impact of its money-saving digital platform on its customers and expand its global activities.  The round was led by investment firm Corner Ventures alongside participation from early-stage growth funds Aleph and Latitude, as well as social finance investor Sir Ronald Cohen, chairman of The Global Steering Group for Impact Investment (GSG). Read more.

Finnish fintech startup Zevoy raises €15 million and plans European roll-out of its expense management tool
Zevoy (Uusimaa, Finland) , a fintech startup has just bagged €15 million in a Series A round led by Blossom Capital. Investors Maki.vc and Brightly Ventures also took part. Founded in August 2020, Zevoy wants to shake up the expense management sector, bringing something to the market that is simple, smart, seamless and efficient. The Finnish startup offers an all-in-one expense management solution that links smart payment cards to efficient expense management software, saving companies time and money and improving employee satisfaction.  Read more.

Montonio ups the ante, raises €11 million in Index Ventures-led round
Montonio (Tallinn), has raised €11 million in a Series A funding round as it presses forward with its one-stop-shop checkout solution for e-commerce merchants and consumers mission. In conjunction with the fresh lining of the coffers, the startup has announced the launch of its services in Poland, adding to the Estonian, Latvian, and Lithuanian collections. The new funds will be used, in part, to drive expansion efforts even further afield later this year. Read more.

Google fund invests in Dutch fintech Payaut 
Google’s AI-focus venture fund has led an €8 million seed round for Payaut, an automated payment provider for online platforms and marketplaces. The new funding will help Payaut expand its operations across Europe with the roll out of a multi-currency platform that will enable customers to accept payments in currencies including USD, GBP, JPY and AUD. Read more.

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