#DoneDeal FinTech Weekly Newsletter powered by Marcel van Oost

REPORT

• Last week we saw 12 official FinTech funding deals in Europe for a total amount of 95,6m€ raised.

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?? NEWS HIGHLIGHT

• YouLend secures deal with J.P. Morgan to extend ￡4 billion in additional financing to SMEs.

YouLend, the leading global embedded finance platform, announces the completion of a private securitisation transaction with global financial services firm J.P. Morgan as a senior lender and Castlelake, L.P. providing subordinate debt.

The deal will enable YouLend to extend ￡4 billion in additional revenue-based financing to small and medium-sized enterprises (SMEs). This will be accessible via partnered global e-commerce sites, tech companies, and payment service providers, such as Amazon, Dojo, eBay, and Just Eat Takeaway.com.

?? M&As

• Worldpay Begins Operating as Independent Company.

Worldpay, LLC, (the “Company”), a global industry leader in payments technology and solutions, announced today that it has closed upon its previously announced sale and will now operate as an independent company.

The Company will be overseen by leading private equity firm GTCR, with a 55% majority ownership interest, while FIS? (NYSE: FIS), a global leader in financial services technology, will retain a 45% ownership interest. In conjunction with the closing of the sale, Charles Drucker has resumed his former role as CEO and will work to optimize performance and accelerate growth.

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• a.s.r. sells Knab to BAWAG Group AG.

a.s.r. acquired Knab as an integral part of the Aegon Nederland transaction as announced in October 2022 and closed on 4 July 2023. Following a thorough strategic review of Knabs activities, in conjunction with an assessment of the proposal put forward by BAWAG, a.s.r. believes that the future of Knab and the service proposition to its customers is better served by being part of BAWAG.

While the banking activities of Knab are an integral part of a.s.r., these are managed reasonably independently from the insurance operations of the a.s.r. group and it is expected that the disentanglement will be smooth.?

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

?? NOTABLE FUNDING ROUNDS

?? Kriya FinTech secures ￡50m in debt financing to revolutionise B2B payments.

?? Ramp Acquires Venue and Enhances Procurement Product.

?? DataSnipper raises $100M at $1B valuation to empower auditors with AI.

?? Mesh Announces Investment from PayPal Ventures.

EUROPE ????

Swiss crypto neobank Sygnum lands $40m growth investment. Sygnum says it will use its new capital to expand into new markets and further develop its product suite.

USA ????

Marstone Raises $8M in Series B Funding. The round was led by Mendon Venture Partners and South Rose Capital, alongside new investors including the Castle Creek Launchpad Fund and existing investor Equity Bank.

Rainbow raises $12 million. The company is currently live in 8 states the coverage is distributed through independent insurance agents and digital partners.

Sequence secures $5.5 million to ‘reshape the personal finance industry’. Users who leverage the platform can automate financial activities, contributing to debt reduction.

Neobank Dave Repurchases Convertible Note Owned by FTX Ventures. The note was repurchased at a $35 million discount compared to the $105.5 million total liability.

LATAM

Brazilian fintech BRLA Digital raises funds. The investment comes at a strategic time as BRLA Digital seeks to strengthen its position in the cross-border payments and crypto infrastructure marke.

ASIA

Qupital secures Series B2 funding to fuel market expansion and product innovation. Since 2016, Qupital has demonstrated market leadership across the trade finance industry with over US$2 billion total loans disbursed.