Morgan Stanley Expansion Capital Makes $20 Million Investment in NovoPayment

WEEKLY FUNDRAISING ACTIVITY

• Last week, we saw 11 official fintech deals in Europe, raising a total of €116.3 million. Three deals were in the UK, one in Italy, one in Denmark, one in Norway, one in Spain, one in Romania, one in the Netherlands, one in Germany, and one in Switzerland .

?? NEWS HIGHLIGHT

• FinTech Cometa closes $12 million dollar financing round to consolidate growth in Mexico .

Two years after its launch, Cometa, the platform that helps to optimize the revenue of educational institutions in Mexico, announces exclusively with Forbes its second round of Series A financing, with an investment of US$12 million led by Reach Capital.

This achievement marks a milestone in Cometa's mission to transform the administrative management of private elementary schools, “allowing them to focus on their primary objective: the education of students,” says Andrés Benavides, CEO and co-founder of Cometa.

Read more

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

?? NOTABLE FUNDING ROUNDS

?? Augmentum FinTech invests $4M in Pemo

?? Tranched cements $3.4M funding to disrupt the dominance of HSBC , Barclays , and Lloyds .

?? Coinbase acqui-hires Utopia Labs team .

?? Morgan Stanley Expansion Capital Makes $20 Million Investment in NovoPayment .

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?? REGIONAL HIGHLIGHTS

UK ????

LendingMetrics, the credit risk technology group, has secured a significant investment from LDC, which will help the business to accelerate new product development within its core financial services sector and expand its network of partners in its consultancy and data services division.

Stocks and options trading app, Investa, raises ￡700k in their first crowdfunding campaign. The investment will help the team to maintain its speed of development and scale marketing operations as they approach launch. Read more

EUROPE ????

FinTech Tomorrow raises over €4M. The funding will be directed towards customer acquisition and develpoing its software, including expanding its range of banking products. The startup is known for collaborating with customers to offer cutsomised account fees.

Satispay raises €60M, reaching Unicorn status after previous €90M and €320M rounds. According to Corriere, the new capital injection comes again from the three funds involved in the last major funding round: Addition, Greyhound Capital, and Lightrock. More info here

Treasury management platform Agicap closes on €45 million Series C. The firm currently supports 8000 clients , integrating banking & ERP connectivity, cash management, liquidity planning, accounts receivable, accounts payable and spend management.

USA ????

Apollo invests in FinTech to boost service for private markets. Apollo Global Management Inc. is investing in startup Vega and adopting its technology that looks to improve service for clients looking to further their investments in private markets.?

CANADA ????

Neo Financial raises $360M to accelerate growth and position itself as leading challenger to banks in Canada. Consisting of CAD $110M of equity and CAD $250M of debt, the new capital will accelerate the expansion of Neo Financial’s suite of innovative financial products, providing competitive alternatives to traditional banks.

LATAM

Argentina’s Ualá reaches $2.75 billion valuation in new funding. The Argentine neobank has raised $300 million from investors at a valuation of $ 2.75 billion , the latest funding hau l for one of the most valuable startups in Latin America.?

Brazilian FinTech Tako emerges from stealth with sizable seed round led by a16z and Ribbit Capital. Tako launched its product in 2023, with CEO Fernando Gadotti noting the company processed tens of millions in payroll while operating in stealth. He also said the company plans to expand as it grows into building more features like instant payments.

Stay raises $2.6M to expand private pension offerings in Brazil. The company will use the funds to grow the team and expand product offerings across the country. Read the full piece

ASIA

SmartBank secures $26M for its personal finance management app. The startup will use the new capital to double down on hiring from 49 staff in October to around 100 employees by 2025; half of the total workforce will be the engineering team. ??

Modifi raises $15M, inks MoU with Japan’s SMBC to support SMEs with cross-border financing solutions. The partnership will make Modifi’s BNPL solutions and integrated risk management tools available to SMBC’s corporate export clients to “optimise cash flow and expand their international reach.