#DoneDeal FinTech Funding News | 2024 #13

WEEKLY FUNDRAISING ACTIVITY

• Last week we saw 14 official FinTech deals in Europe for a total amount of 218,7m€ raised with 5 deals in the UK, 4 in Germany, 1 in France, 1 in the Netherlands, 1 in Ireland, 1 in the Czech Republic, and 1 in Estonia.

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?? NEWS HIGHLIGHT

• MTN Group to invest $1.8 billion in data, FinTech services in 2024.

Telecommunications group, MTN, has announced plans to invest an additional R35 to R39 billion (approximately $1.8 billion) to boost its data and FinTech services offerings across Africa this year.

This comes as the group’s active FinTech users rose to 72.5 million at the end of 2023. According to the company’s 2023 audited financial result released on Monday, the volume of FinTech transactions increased by around a third to 17.6 billion, with the value of transactions across the FinTech platform up at $272 billion.

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??INSIGHTS

• 95 Celebrities participated in FinTech funding rounds in the past five years.

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?? M&As

Australian FinTech startup Yondr Money has announced the acquisition of the nano-gifting platform Shouta. The acquisition will expand loyalty and rewards solutions for customers and provide a more comprehensive, engaging, and personalised financial experience.

Paynetics Acquires Novus Neobank to Amplify ESG Mission. Through its innovative approach, Novus has upgraded traditional banking by empowering conscious consumers to make a difference while seamlessly integrating financial services with event-driven positive impact initiatives.

NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

?? NOTABLE FUNDING ROUNDS

?? Ant Group Injects Another S$200 Million Funding Into ANEXT Bank.

?? FundGuard raises $100m.

?? Goalsetter raises $9.6m to help families build wealth.

?? Neobank Chime targets Public Listing in the US in 2025.

?? REGIONAL HIGHLIGHTS

UK ????

Global Screening Services raises $47m. This significant investment coincides with the company's transition from the development phase to the operational phase as the cloud-native platform prepares to go live with its inaugural clients.

EUROPE ????

Swiss FinTech nsave, which is making banking in Switzerland accessible to people in countries with unstable banking sectors or facing high inflation, has raised $4 million seed funding.

Ameetee, a FinTech startup, has raised a $1 million seed round to launch the first B2B FinTech platform that provides financial institutions with a universal solution to offer their customers investment in private companies in the form of transferable securities.

Ireland’s FinTech funding slumps. The biannual report from KPMG, Pulse of FinTech H2'23, shows that Irish FinTechs attracted just $60.83m in 2023 compared to more than $1bn raised in the previous year.

USA ????

Budgeting app Copilot is booming now that Mint is dead, leading to $6M Series A. Today, Copilot has more than 100,000 subscribers with a majority of them coming into the app at least once a day.

NewRetirement completes $20m funding round. NewRetirement will expand its enterprise offerings, scale onboarding and support for new partners, enhance R&D efforts aimed at helping its user base

CANADA ????

ZayZoon raises $15m for earned wage access platform. The funding will be used to push expansion for a firm that says it has already grown its business by almost a factor of eight in the last two years.

LATAM

The Brazilian BNPL FinTech company Koin has successfully raised $7.3 million to boost its service offering for the anticipation of receivables for retailers in the tourism sector.

ASIA

PayPal invests in Indonesian insurtech Qoala. The Series C funding enables the company to expand its embedded insurance business (B2B2C) across Southeast Asia. The investment will also empower Qoala to intensify its tech-driven initiatives.