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Weekly Funding Highlights – 7 September 2022

New week – new closed funding rounds! This week’s funding highlights cover personal finance, software, crypto, BNPL, and many more! Take a look at some major investments of this week.

Fuel Labs raises $80 million for modular execution layer, touting superior speed (The Block)
Fuel Labs, a Portugal based startup that aims to speed up crypto transactions, has announced an $80 million funding round from some of the sector’s biggest investors. Blockchain Capital and Stratos Technologies led the investment, according to an announcement on Tuesday, with Sam Bankman-Fried’s Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic and ZMT all participating. Ekram Ahmed, head of communications at blockchain developer Celestia Labs, is a strategic advisor. The startup did not disclose further details of the raise, such as what valuation it placed on the project, or how the deal was structured. A spokesperson for the firm said it has no headquarters. Read more

US fintech start-up Solid lands $63m in Series B funding (Fintech Futures)
Californian fintech start-up Solid, which offers a modern infrastructure for businesses to launch and scale fintech products, has raised $63 million in Series B funding. The round was led by FTV Capital, with existing investor Headline also participating Solid says the funding will help accelerate its expansion into verticals such as travel, logistics, construction, healthcare, education and the gig economy. Founded in 2018 and based in San Mateo, Solid provides the infrastructure for businesses to build and launch embedded finance products. Read more

Mesh Payments closes on $60M as demand for its corporate spend offering surges (Tech Crunch)
Financial management startup Mesh Payments has landed $60 million in new funding, 10 months after its last raise. Founded in Israel and now with headquarters in New York, Mesh Payments is one of a growing group of startups focused on helping companies manage their spend through automation. It’s a hot and crowded space that includes the likes of Ramp, Brex and Airbase, and more recently, TripActions and Rho, among others. Read more

Clip Gets $50M Credit Facility to Expand Payments Solutions in Mexico (PYMNTS)
Mexican commerce and digital payments platform Clip has obtained a $50 million credit facility from Morgan Stanley, J.P. Morgan and HSBC that it will use to continue adding payments solutions for the country’s businesses as well as improving financial access for both business and consumers. “This credit facility represents another important milestone for Clip, as it provides additional support to our already solid balance sheet and liquidity position,” Clip Founder and CEO Adolfo Babatz said in a Tuesday (Sept. 6) press release. “It is important for Clip and our story to receive the support of banks of this caliber validating our mission of expanding financial inclusion in Mexico.” Read more

Belgian crypto startup Credix raises €11.3M to create credit platform on blockchain tech (TFN)
Credix, a Belgian fintech, has raised €11.32M in funding to connect institutional investors from all over the world with lenders in emerging markets. Motive Partners and ParaFi Capital, both based in the United States, led the Series A round. Valor Capital, Victory Park Capital, MGG Investment Group, Circle Ventures, Abra, Fuse Capital, and Claure Group also participated in the round, as did angel investors such as Ricardo Villa Marina, chairman of Itau LatAm. Read more

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