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Weekly Funding Highlights – 24 June 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!

SumUp Raises €590M in Funding
SumUp, a London, UK-based fintech company serving over 4 million small businesses worldwide, raised €590m in debt and equity funding, at an enterprise value of €8 billion. The round, which brings SumUp’s total capital raised to €1.5 billion, was led by Bain Capital Tech Opportunities, with participation from funds managed by BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, and Sentinel Dome Partners, among others. Read more.

Fintech Startup Stashfin Raises $270 Mn To Expand Footprint Across South Asia, SEA
Fintech startup Stashfin (New Delhi, India) has raised $270 Mn via a mix of equity and debt as part of its Series C funding round led by Uncorrelated Ventures, Fasanara Capital and Abstract Ventures. Post the fundraise, the startup is now valued between $700 Mn and $800 Mn. The round also saw participation from existing investors, including Altara Ventures, Kravis Investment Partners and Snow Leopard. Read more. 

Paris-based Breega closes €250M fund, opens Barcelona office to back Iberian startups
Paris-originated VC Breega wasn’t enormously well known in the VC world (it only closed its first fund in 2015) until, perhaps, it started attracting attention with its second €110 million seed fund, just under a year go. It’s portfolio now includes a number of scaleups including Moneybox, Cuvva, Coverflex and Libeo. Perhaps part of its “secret sauce” is how it has managed to put together an in house-team of experts in growth, talent and comms, of which more later. Read more.

FalconX Valuation Doubles to $8B Despite Crypto Market Turmoil
FalconX (California, USA) , a crypto platform  has raised $150 million in a Series D funding round that has more than doubled its valuation in under a year — defying the current crypto bear market.  The California-based company is now valued at $8 billion, up from $3.75 billion following its $210 million Series C raise in August 2021. Read more.

Prime Trust Secures Approximately $100 Million in Series B Funding
Prime Trust (Las Vegas, NV, US), one of the prominent providers of financial infrastructure, announced yesterday that it has raised more than $100 million in its Series B funding round. Some of the investors who participated in the latest investment round include FIS, Fin Capital, Mercato Partners, Kraken Ventures, Commerce Ventures, William Blair & Company and Seven Peaks Ventures. Read more.

B2B BNPL fintech Playter lands $55m funding round
Playter (London, UK), a B2B buy now, pay later (BNPL) fintech  has secured $55 million in equity and debt funding to expand its SME-focused platform. The round, led by Adit Venture Capital and Fasanara Capital, saw participation from Fin Capital, Act Venture Capital and 1818 Ventures. The latest investment follows the firm’s $1.7 million raised in March and will support Playter’s UK expansion with an eye to move into international markets in the future. Read more. 

US fintech Wahed Invest to receive $50m in Series B funding
US fintech Wahed Invest is set to receive $50 million in a Series B funding round led by Wa’ed Ventures, the venture capital arm at Saudi Aramco Entrepreneurship Center. Other investors in the round include footballer Paul Pogba, who has joined Wahed as brand ambassador, and a number of family offices and institutions. The Series B round will support the start-up’s ongoing growth phase, with plans to launch an ethical neobank on its platform in the near future. The new offering will provide users access to banking and investing products that align with the fintech’s Halal values. Read more.

Nordic fintech raises €33M for its investment method based on Nobel Prize-winning research
Stockholm-based automated investment system developer Lysa raises €33M (MSEK 350) from Nicklas StoråkersSEB and Ramsbury. Lysa’s investment method based on Nobel Prize-winning research is a fund robot that allows users to automatically invest at low fees which leads to saving money. The funding will be used to develop its savings system to provide its customers a better service. Read more.

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