Visa Joins $5 Million Round In African Payroll Provider Workpay
Connecting the dots in FinTech...
Connecting the dots in FinTech...
?? NEWS HIGHLIGHT
Checkout.com alumni have raised $4.55m in funding for fintech startup Revenew — which emerges from stealth today.?
Los-Angeles based VC firm Fika Ventures led the round for Revenew, which aims to help platform businesses like Uber or Spotify to streamline their payments operations. Dash Fund and TTV Capital also participated in the fundraise.
“Checkout really gave me that exposure to building not just software but also teams and product,” says ex-senior vice president of engineering Ben Foster, who cofounded Revenew with Checkout.com’s former head of product Nicolas Thomson. “That ultimately led to the entrepreneurial spark needed to go ahead and found Revenew.”?
?? INFOGRAPHIC
?? M&As
Klarna has acquired Laybuy’s assets in New Zealand, the birthplace of the payments provider, and plans to relaunch the service in the coming weeks. Laybuy, which ceased operations in June, is set to make a reenergized return in New Zealand under Klarna.
Communify acquires Fincentric from S&P Global. Wealthtech entrepreneur John Wise and PE firm Stellex Capital Management have acquired S&P Global’s Fincentric business with a view to providing digital experiences and financial data distribution to the wealth, broking and asset management industries.
DCS Innov, a subsidiary of DCS FinTech, has announced that it acquired HolyWally, a Wallet-as-a-Service (WaaS) platform provider, to further expand its operations. Through this strategic move, DCS Innov aims to further advance its global expansion plans, especially into the US and European markets
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? NOTABLE FUNDING ROUNDS
?? Tether invests $3 million in Kuwaiti P2P payments app Kem.
?? Visa joins $5 million round in African payroll provider Workpay.
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?? REGIONAL HIGHLIGHTS
EUROPE ????
European investing App Peaks has raised €1.38 Million on Republic Europe topping its initial goal of €1,000,000. According to the offering page, Peaks was selling equity at a pre-money valuation of €52 million. Investors in the securities offering numbered 2128, acquiring a 2.55% equity stake in the early stage firm.
USA ????
Bad actors on track to steal over $3bn in crypto heists in 2024, Chainalysis analyst says. The crypto analytics firm’s analyst made the prediction as bad actors have almost doubled the amount stolen to $1.6 billion in 2024 so far, up from $857 million stolen between January and July in 2023.
Chaos Labs secures $55M series A funding to bolster Defi risk management solutions. The company plans to use the funds to further enhance its technology, which automates real-time protocol parameter recommendations to improve the security and efficiency of defi protocols.
FinTech solutions provider NYMBUS secures investment from Gesa Credit Union. This investment will fuel Nymbus’ ongoing mission “to help credit unions create sustainable growth in an increasingly competitive market dominated by megabanks and FinTech organizations.”
FinTech startup Lettuce Financial closes $15 Million in series A funding to fuel partnerships, product development and growth. Founded, built, and funded by solopreneurs, Lettuce aims to help solopreneurs succeed financially by providing the tools they need to optimize their business taxes.
Crypto Payment Network for AI agents launched by former Ripple execs. The company, Skyfire, raised $8.5 million to advance AI capabilities, including handling payments, by utilizing third-party aggregators to facilitate AI payments.
LATAM
Lux Capital made its first investment in Brazil, a $4M seed for AI FinTech Magie. The company, which has raised $5.1 million in total, is creating an AI-powered financial assistant. The current product allows people to send money and pay bills through WhatsApp.?
ASIA
WSPN secures $30 Million in seed funding to redefine the future of digital payments with stablecoin 2.0. WSPN is building a more secure, efficient, and transparent payment solution by working towards establishing a global framework and a new digital payment ecosystem.
Waza, a Nigerian Y Combinator-backed B2B payment and liquidity platform has secured $8 million in equity and debt funding to expand into new markets. This significant capital injection is expected to bolster Waza’s efforts in expanding its operations and enhancing its platform.
Resal raises a $9M funding round. Resal indicated that the investments from this round will be utilized to accelerate its business growth within the Kingdom by expanding its targeting of new sectors, launching various technological products for alternative payment solutions, loyalty programs, and rewards.
FinTech startup TransBnk secures $4 million in funding round led by 8i Ventures. The fresh capital will be used to expand TransBnk's banking network, drive global growth in West and Southeast Asia, and strengthen its technology and product offerings.
AUSTRALIA ????
Moneycatcha, the Perth-based FinTech that delivers open banking solutions to mortgage brokers under the ‘Regchain’ and ‘Stryd’ brands, is accelerating growth plans to capitalise on renewed momentum in Australia’s Consumer Data Right (CDR), boosted by two key board appointments and $1.5 Million in fresh funds.
MIDDLE EAST
Pakistani FinTech startup PostEx raises $7.3m in pre-series A funding. According to a press statement by the startup, “The proceeds will assist PostEx in consolidating its market leadership in Pakistan and support an aggressive expansion into the Gulf Cooperation Council (GCC) — where new markets and customers will have access to PostEx’s services.”