THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
This week’s chart by Royal Park Partners is dominated by US deals as they occupy 6 positions within the Capital Markets, Wealth Management, and Other FinTech space.
Download the full report below👇
REPORT
The demise of Silvergate, Signature, and Silicon Valley Bank rapidly followed by the implosion of Credit Suisse sent shockwaves through the financial world. Several contenders are rising up to take the US’s place.
Read the full Crypto Banking Report 2023 by Coincub.
👀 NEWS HIGHLIGHT
Square launches the Tap to Pay on Android for sellers across the US, Australia, Ireland, France, Spain, and the UK, enabling sellers to accept contactless payments with a compatible device with no requirement for additional hardware and at no added cost.
📊 INFOGRAPHIC
Key highlights from global FinTech investor activity during Q1 2023 by FinTech Global:
👉 2432 investors invested in FinTech companies during the first quarter.
👉 FinTech companies raised a combined $22bn in Q1 2023.
👉 Overall, 1,366 FinTech deals were announced globally in Q1.
📰 ARTICLE
Every FinTech is in the risk business, whether they want to be or not. That’s because FinTech unit economics have a unique factor: downside risk. FinTechs live or die on their ability to manage fraud and credit risk. Most companies eventually get “good enough” at it or simply die by mismanaging it.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ Rally raised $12 million in Series A round led by VC March Capital.
⭐️ Clerkie scored $33 million in a Series A round led by Left Lane Capital.
⭐️ Unchained Capital raised $60 million in a Series B round led by Valor Equity Partners.
⭐️ Stratyfy raised $10 million in a round led by Truist Ventures and Zeal Capital Partners.
😇 Do you want to have access to the best deal flow in FinTech? And/or do you want to invest alongside me and 1000+ other FinTech Angel investors?
Join my Angel Investors Syndicate!
DIGITAL BANKING
Apple Card’s new high-yield Savings account is now available, offering a 4.15 percent APY.
Finastra announced that Plaid is now integrated into its Fusion Digital Banking platform.
Robinhood, best known for no-fee trading, is launching peer-to-peer payments.
Curve announced the launch of a new function that “enables its customers to transfer their crypto rewards from merchant transactions to their own digital wallets.”
Charm Solutions raised $3.5 million in a seed round led by BootstrapLabs.
Santander Bank teams up with DailyPay to offer an on-demand pay benefit for its Commercial Banking clients in the U.S.
PAYMENTS
PayPal's outgoing CEO Dan Schulman saw his pay fall by 32% to $22 million last year after failing to meet financial targets.
With the GoDaddy Mobile App and Apple's Tap to Pay, small U.S.-based businesses can now accept all types of contactless in-person payments with only an iPhone.
Pidgin announced that U.S. Century Bank chose to partner with Pidgin to bring real-time payments to its growing customer base.
ACI Worldwide’s fraud protection services are now available as part of ACI’s Real-Time Payments Cloud for U.S. customers preparing for the launch of FedNow.
Filipinos in the United States can now directly settle their monthly amortizations in the Philippines for free after BayaniPay launched a new bill payment service.
Airwallex launches in Canada, enabling businesses to access its key offerings - including local currency accounts in over 12 currencies, a multi-currency wallet in 44 currencies, and others.
CRYPTO
Securities and Exchange Commission sued Bittrex for trading digital assets, accusing the firm of operating an illegal securities exchange.
Coinbase is preparing for a court battle with the Securities and Exchange Commission after being warned of potential violations of securities law.
Coinbase’s CEO Brian Armstrong, called for more comprehensive crypto regulation, noting a possible move from the US if it doesn’t come soon.
INVESTMENT
Altruist raises $112m in Series D funding round led by Insight Partners and Adams Street.
Goldman Sachs initiated the process for exploring the sale of its FinTech unit GreenSky.
FRAUD PREVENTION
CAT Labs bagged $4.3m in its pre-seed round headed by Castle Island Ventures, Brevan Howard Digital, RW3 Ventures, and CMT Digital.
MOVERS & SHAKERS
BankiFi appointed Lindsay Hodges as their new Director of Product Management and Client Success for the Americas.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.