Steve McLaughlin’s Post

This week in #FinTech deal activity: 66 financings and 19 M&A transactions. Slight uptick in financing activity compared to last week, with 20 more deals announced and four $50 million+ capital raises. The largest financing this week, SMB financial management platform Asaas’s ~$150 million Series C round, stands out as the largest Brazilian FinTech financing deal so far this year, as investments in the country have picked up, with 2024 YTD levels already surpassing full-year 2023. 👉 Reminder, FT Partners will have a team at both ITC and Money20/20 in Las Vegas this month. Let us know if you would like to meet up during the conferences! Please reach out here for ITC: ITC@ftpartners.com and here for Money20/20: money2020@ftpartners.com  📊 View or download the weekly infographic below or here: https://lnkd.in/eagjt_xc  💰 Largest / Notable Deals This Week: • Brazil-based billing / AR automation company ASAAS raises ~$150 million in Series C financing led by BOND • Live event payments and software provider atVenu secures $130 million equity investment from Sixth Street Growth • Co-branded credit card issuer Imprint raises $75 million in Series C financing led by Khosla Ventures bringing the Company’s valuation to $600 million • WealthTech platform Farther raises $72 million in Series C financing led by CapitalG and Viewpoint bringing the Company’s valuation to $542 million • Southeast Asian consumer lending platform Salmon Group Ltd raises $30 million in Series A2 financing from IFC - International Finance Corporation, Lunate and others • Pockit acquires fellow UK-based challenger bank Monese after strategic investor HSBC recently wrote off its remaining stake in the Company. Monese had previously raised more than $200 million in financing. Numeric, Logik.io, Pinpoint Predictive, Noetica AI, estie, inc., Younited, Solifi, TA Associates, Duck Creek Technologies, Marex, Hamilton Court Foreign Exchange, Waave, Banked :, Parsly, Buyers Edge Platform

Current has secured $200 million in a new funding round as the company looks to "accelerate growth and fast-track profitability in 2025". For daily news and analysis subscribe to the https://lnkd.in/gnPcGRKf newsletter. #Banking #Finance #Fintech

Big Milestone Alert! 🚀 Axis Arbor has just announced its 100th deal since its inception! This remarkable achievement highlights their dedication to excellence and innovation in the fintech space. #AxisArbor #Fintech #Milestone #Innovation #FinanceFuture #100deals Check out the full story and see how Axis Arbor is shaping the future of finance: https://bit.ly/3Wq2gmh

Pockit buys Monese. #Consolidation is starting in the #neobank segment. There are too many #neobanks and related #Fintechs. Due to still difficult #funding conditions and the pressure to become #profitable #M&A expected to accelerate.

Navigating a challenging 2023, fintech firms face tight funding due to cautious VCs and high interest rates, emphasizing the industry's adaptability and resilience. #FintechTrends #VCInvestments #FinancialChallenges #bankingindustry #fintech #banking https://lnkd.in/edeQEuvX

Check out the key deals, funding rounds, and changes in the global fintech landscape, curated by our team. 𝐊𝐞𝐲 𝐞𝐯𝐞𝐧𝐭𝐬 𝐟𝐨𝐫 8-14.04  US Santander has announced the launch of a new national digital offering in the US under the Openbank brand in the second half of 2024. Linqto (a digital investment platform) will go public in H2 via a $700m SPAC merger with BCSA. STG – Symphony Technology Group (a US-based private equity firm) acquires UK fintech Gresham Technologies. LATAM Wioba and 123Seguro joined forces to level up the automobile insurance in Colombia. uFlow (NoCode decision engine) and MO (credit management platform) partnered to accelerate the financial market's technological transformation and improve credit rate access in Colombia and the region. Nubank Ultravioleta announces the pre-launch of its Global Account in partnership with Wise. The account will allow users to instantly convert balances from Real to dollar and euro through the Nubank app. Kueski (BNPL) has launched an in-store version of Kueski Pay, allowing consumers to complete physical store transactions via the app. EUROPE Mimo (a platform simplifying global payments cash flow, and financial management for SMEs and accountants) has raised £15.5 million in a funding round led by Northzone. Pactio (a private markets software company) has secured $14 million in a Series A funding round led by EQT Venture. TransferGo (a consumer platform for global remittances) has raised a $10 million growth funding round from Taiwan-based investor Taiwania Capital. SmartPay (embedded finance) has raised $7 million in a pre-Series A round led by SMBC Venture Capital. Funding Xchange (the business loan and funding marketplace) has announced the completion of its Series B fundraising round (undisclosed) led by banking giant Barclays. ASIA TerraPay (a UK-based global money transfer platform) has secured a significant payment institution (MPI) license from the Monetary Authority of Singapore. Stay tuned!

Explore the dynamics of PE/VC Fintech investments with insights on valuations, profitability, and key factors for securing funding in the UK, USA, and Europe. #Fintech #PEVC #InvestmentTrends @TestraVentures #bankingindustry #money #finance #fintech https://lnkd.in/eKM8rUva

Mexican fintech albo secured a $60 million credit line from SixPoint Capital Management Mexican #fintech #Albo has secured a $60 million line of credit from #SixPoint Capital Management, positioning the company to reach profitability in the coming months. Under the leadership of CEO Angel Sahagun Fernandez and COO José de la Luz L., Albo plans to use the funding to enhance its credit products and expand its services to both personal and business customers. Since obtaining its Institution of Electronic Payment Funds (IFPE) license in May 2022, Albo's IFPE division has been profitable for three years. The new capital aims to make the entire Albo group profitable, including its financing subsidiaries. To bolster its credit offerings in the business segment, Albo has acquired firms like Delt.ai, enabling them to complement the services provided through their IFPE. Albo has historically issued $130 million in credit with low delinquency rates and currently serves over 3 million users, processing approximately $20 billion in transactions annually. The company has seen record growth in revenue over the past 12 months, highlighting its strong position in Mexico's rapidly growing financial market. According to the National Banking and Securities Commission (CNBV), consumer credit in Mexico increased by 15% in 2023. Focusing on underbanked segments often overlooked by traditional banks and other fintechs, Albo is committed to providing financial products to those who need them most. "We want to demonstrate that it's possible to build a solid company that endures for many years through profitability," emphasized CEO Ángel Sahagún. This latest funding underscores Albo's mission to offer accessible financial solutions and solidifies its role as a key player in Mexico's fintech landscape. The article on El Economista in the first comment.

The venture arms of two major banks have both invested in minority stakes in the commercial technology platform for brokers CitoPlus Find out more on The Adviser: https://bit.ly/4hXBTy7 #commercialfinance #lending #finance #broker #broking #fintech #innovation #fintech

The FinTech landscape is abuzz with significant developments: Ebury's IPO Plans: Banco Santander is advancing plans to take its fintech subsidiary, Ebury, public on the London Stock Exchange in 2025. Ebury, specializing in B2B payment solutions, is valued at approximately €2 billion. Ant Group's Clarification: Ant Group, co-founded by Jack Ma, has addressed and dismissed recent rumors about a potential Initial Public Offering (IPO), stating it has no plans for a public listing and that any reports about a backdoor listing are entirely false. Affirm's Expansion: Affirm Holdings has secured a partnership with Sixth Street, enabling the fintech company to significantly increase its consumer lending capacity by up to $20 billion. MrBeast's FinTech Collaboration: Popular YouTuber MrBeast's new reality show, "Beast Games," has sparked controversy due to a partnership with fintech company MoneyLion, which offers cash advances similar to payday loans. Consumer advocates are concerned that MoneyLion's services could exploit vulnerable users, especially younger audiences, by trapping them in cycles of debt. These events highlight the dynamic nature of the FinTech sector, where innovation, regulatory scrutiny, and strategic partnerships continually reshape the financial landscape. Provocative Thought: If financial technology can democratize access to financial services, could it also inadvertently create new forms of economic disparity? This post was generated by my custom-built personal agent, powered by LLMs and designed to operate my computer. If you're curious about how it works, feel free to ask!