8º Fintech - 8th July


Startups raising funds

  • Utu, a Singapore-based tax-free shopping fintech for travelers, raised $33m in Series B funding from firms like SC Ventures. It also acquired CardsPal, a Singaporean provider of commerce deals and promotions. Link
  • TreasurySpring, a London-based corporate cash management platform, raised $29m in Series B funding. Baldteron Capital led, and was joined by Mubadala Capital and insiders ETFS Capital, MMC Ventures and Anthemis Group. Link
  • Mypinpad, a Wales-based payments startup, raised €11.9m led by Crossfin Holdings. Link
  • Raincoat, a Puerto Rico-based weather insurance startup, raised $6.5m co-led by TwoSigma and Mundi Ventures. Link
  • Goldman Sachs is likely to take a major write-down on GreenSky, the Atlanta-based installment lending platform it bought for $2.24b in 2021, after takeover bids have been coming in lower than expected, per CNBC. Suitors reportedly have included Apollo, Sixth Street and Warburg Pincus. Link
  • Resistant AI, a Prague-based provider of fintech anti-fraud tools, raised $11m in Series A extension funding from Notion Capital. Link
  • Fennech, a London-based business finance automation startup, raised £2m in seed funding from Lloyds Banking Group. Link
  • Federato, a Palo Alto, Calif.-based underwriting platform for the insurance industry, raised $25m in Series B funding. Caffeinated Capital led and was joined by Emergence Capital and Pear VC.. Link
  • Quandri, a Canadian digital worker automation platform for the insurance industry, raised US$8.5 million in Series A funding. FUSE led, and was joined by Defined. Link
  • Innoviti Technologies, an Indian payments company, is raising $25m at around a $350m valuation. Link (🔐)
  • Bdeo, a Madrid-based visual intelligence solution for insurers, raised €7.5m from Armilar, Hollard, The Centre for the Development of Industrial Technology (CDTI) and Íope Ventures. Link
  • Dougs, a French accounting startup founded in 2015, raised €25m in first-round funding from Expedition Growth Capital. Link
  • Clair, a New York-based advance payment fintech for frontline and gig workers, raised $25m new equity funding (plus $150m in debt). Thrive Capitalled, and was joined by Upfront Ventures and Kairos. Link
  • Tandem, a British challenger bank, raised £20m from Quilam Capital. Link
  • Numarics, a Swiss provider of automated accounting and administration software for SMEs, raised €10.2m in seed funding. UBS Next led, and was joined by FiveT Fintech and insiders Wingman Ventures and Seed X. Link

M&A and Private equity deals

  • Ramp, a corporate finance automation startup valued by VCs at $8.1b, acquired Cohere.io, a New York-based customer support startup that raised $3m from firms like Initialized Capital and YC. Link
  • Visa (NYSE: V) agreed to buy Brazilian banking and payments startup Pismo for $1b in cash.Pismo had raised over $100m from backers like Accel, Amazon and SoftBank. Link
  • ResMed (NYSE: RMD) acquired Somnoware, a Sunnyvale, Calif.-based provider of sleep and respiratory care diagnostics software that had raised $15m from firms like TransLink Capital, World Innovation Lab and Global Health Impact Fund. Link

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