What are the top FinTech funding deals of November 2022?
Hi there, Fintech Fanatics,
Let’s kick off with some interesting numbers:
?? Total raised by European Fintech in November: €703.7m (vs. €1096m in Nov.2021)
?? Total raised by Top 10 : €441.6m (vs. €898.2m in Nov.2021)
?? There has been 47 deals (vs 54 deals in Nov.2021)
?? Average deal size is : €16.4m per deal (vs €22.4m in Nov.2021)
Thanks for providing the data BlackFin Tech
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Now on to more fresh FinTech news updates:
NEWS HIGHLIGHT
In this interesting Forbes Middle East interview, Hala cofounders, Maher Loubieh and Esam Alnahdi, explain how the Saudi FinTech has evolved and how it plans to become the go-to bank for the region’s SME community. Link here
BREAKING NEWS
Nexo says it's leaving the U.S. and cites regulatory 'dead end.' The firm, which is the last major crypto lending platform functioning, has faced a legal dogpile from state and federal regulators within the U.S. as scrutiny on lenders ramped up over the past year. Link here
Curve defies the market and secures $1 billion deal from Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States. Link here
Razorpay becomes India's first payment gateway to support credit cards on UPI, which will ensure that customers will no longer have to carry their credit cards with them at all times for payments. Link here
INSIGHTS
MasterCard ready to support Azerbaijani fintech companies with its technological and other solutions that create a safe and efficient environment to make financial transactions and contribute to the entry of new projects into the market. Link here
SPONSORED CONTENT
Fintech Meetup is Q1’s BIG new event! Find new leads and partners. Meet everyone you need to meet in 30,000+ double opt-in meetings. Hear from 250+ speakers. See 200+ sponsors & Exhibitors and network with 3,000+ other senior level fintechers. At the Aria, Las Vegas March 19-22. Get ticket!
FINTECH NEWS
Robinhood banks on retirement to slow user attrition. The company launched a waitlist for its new offering, Robinhood Retirement, which it describes as the “first and only” individual retirement account (IRA) with a 1% match on every eligible dollar contributed. Link here
Klarna’s CEO has said the firm is awaiting profitability and a return to market "sanity" before embarking on the route to IPO. The BNPL giant wants to become profitable as the tech boom ends and growth funding and investor interest in tech stocks fall. Link here
DIGITAL BANKING NEWS
TymeBank is set to reach the 6 million customer mark in December, as the group completes the acquisition of Retail Capital for R1.5. The acquisition – a first for the bank – marks its move to branch out into working capital funding for small businesses. Link here
Wells Fargo launches a new digital banking platform, Vantage?, which is described as a one-stop-shop for digital banking, designed to meet the increasingly consumer-centric demands of corporate treasurers and SMEs through AI and ML technologies. Link here
BLOCKCHAIN
Goldman Sachs on hunt for bargain crypto firms after FTX fiasco. The company plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. Link here
Circle calls off $9bn SPAC deal with Concord Aquisition Corp. The parties say they have mutually terminated the deal, which was first outlined last July before being amended in February at double the valuation. Link here
PARTNERSHIPS
Ajman Bank signs a strategic partnership with KMMRCE Pay. The partnership equips Ajman Bank with the technology to accelerate its digital transformation and enrich its client offering by adding new payment services. Link here
M&As
Intuit boosts Credit Karma unit with SeedFi acquisition. Intuit says that this acquisition will enable Credit Karma to move with greater speed and scale to help members make financial progress. Link here
Contis retires its brand and becomes Solaris. The integration will provide unrivaled products on the European market while strengthening its competitive position in the embedded finance sector. Link here
#DONEDEAL
Paywatch has raised US$9 million in a Pre-Series A funding round. The company plans to use the new funds to grow its product offerings and strengthen its presence in existing markets Malaysia and South Korea. Link here
Osome raises $25 million. The announcement caps off a record year for the company which has seen its UK customer base increase 3.5x, with plans to expand its London team in 2023 as the UK turns to side hustles and micro-businesses to power economic growth. Link here
This ends Your Daily Fintech News. Let me know if there are any questions or comments. Until the next!
Regards,
Marcel van Oost
Connecting the dots in FinTech