Tag: fintech funding

Zilo nabs $31M in series A | Bank Automation News

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Venture funding fell in 2023 as investors took uncertain macroeconomic conditions into account and doubled down on due diligence. Global venture funding in 2023 stood at $248.4 billion, down 42% year over year, its lowest point since 2017, according to a Jan. 4 State of Venture 2023 report by business analytics provider CB Insights. Global […]

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Vaidik Trivedi

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January 25, 2024
Citi’s 2024 investment outlook | Bank Automation News

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Citi plans to invest in payments, liquidity, trade finance and security services fintechs in 2024 despite ongoing changing macroeconomic conditions, Bis Chatterjee, head of partnerships and innovation at Citi Treasury and Trade Solutions, told Bank Automation News. “Fintechs with a clear vision, strong business fundamentals and robust engagement with partners that can help scale their […]

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Whitney McDonald

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January 5, 2024
Fintech venture fund raised $750M | Bank Automation News

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As the global economy faced macroeconomic headwinds coupled with rising rates, fintech funding in 2023 remained subdued compared to prior years. Global fintech funding stood at $30.5 billion year to date, down 60% year over year, while the number of deals fell by 51% YoY to 2,849, according to market intelligence company CB Insights’ third […]

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Vaidik Trivedi

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December 21, 2023
Fintech funding: Digital lending startups lead with 70% jump | Bank Automation News

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Digital lending startup funding drove global fintech funding rounds during the third quarter as automated lending strategies gained investor attention. Funding for these startups reached $1.7 billion in Q3, up 70% sequentially, according to CB Insights’ State of Fintech Q3 report published in October. As fintech funding rebounded in Q3, digital lending deals led the […]

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Whitney McDonald

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December 4, 2023
Fintechs struggle with profitability | Bank Automation News

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European fintech funding experienced a massive drop in funding and number of deals in the third quarter. In Q3, European fintechs raised $1.3 billion (1 billion pounds), down 67% year over year, while the number of deals fell to 181, down 42% YoY, according to the Q3 State of Fintech report by business analytics platform […]

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Vaidik Trivedi

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November 28, 2023
Fintech mega rounds increase 50% QoQ | Bank Automation News

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Global fintech funding dropped marginally in the third quarter sequentially, but deals worth more than $100 million substantially increased as funding remained below 2019 levels. As global fintech funding reached $7.4 billion in Q3, it was down 46% year over year, according to CB Insights’ State of Fintech Q3 report published last month. “While fintech […]

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Vaidik Trivedi

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November 17, 2023
Digital bank Zopa raises $95M | Bank Automation News

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London-based Zopa Bank has $95 million in Tier 2 capital to fund its growth, according to the company. The digital bank provides technology for its customers to gain access to better credit products, to transfer card balances in a way that helps pay down credit and improve their financial well-being. Chief Executive Jaidev Janardana […]

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Vaidik Trivedi

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October 16, 2023
Citi Ventures pivots investment plan | Bank Automation News

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Citi Ventures, the venture capital arm of $1.7 trillion Citigroup, is changing its investment strategy amid turbulent macro-economic conditions. The first half of 2023 saw a 50% decline in global fintech funding as investors pulled back in response to inflation, high-interest rates and geopolitical instability, Agustin Rubini, director analyst at Gartner, told Bank Automation […]

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Vaidik Trivedi

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October 6, 2023
Curve raises $163M in funding round | Bank Automation News

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Financial super app Curve raised $163 million in a series C round this week, even as global fintech funding has dropped significantly. Not only has funding dropped due to uncertain macroeconomic conditions and rising global interest rates, but the number of deals has also decreased. According to a July report by financial information and services […]

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Vaidik Trivedi

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September 22, 2023
Fintech Ramp raises $300M | Bank Automation News

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Spend management fintech Ramp raised $300 million on Aug. 22 to fuel its product expansion aims. The series D funding round has given the New York-based company a valuation of $5.8 billion, according to a release from the company. Ramp’s valuation dropped from $8.1 billion in 2022, when it raised $200 million in equity […]

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Vaidik Trivedi

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September 1, 2023
Payments fintech SumUp nabs $100M | Bank Automation News

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Payments technology fintech SumUp announced Wednesday it has raised $100 million from Victory Park Capital. SumUp provides businesses with point-of-sale payments equipment and inventory management software to manage their operations. “This credit facility will solely be used to finance the merchant cash advance product,” Philipp Hahn, global head of lending at SumUp, told Bank Automation […]

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Vaidik Trivedi

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August 11, 2023
Solaris raises $42M, becomes unicorn | Bank Automation News

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Embedded finance provider Solaris raised 39 million euros ($42 million) in a series F funding round July 11 to strengthen governance and compliance within the fintech. The company hit a valuation of $1.6 billion post the most recent funding round, per CB Insights. “The core focus this year is for Solaris to become more efficient, […]

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Vaidik Trivedi

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July 21, 2023
Volt Secures $60M Raise from IVP | Bank Automation News

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London-based open banking startup Volt is looking to expand global operations with a $60 million series B round. The additional funds were announced by the company this month. Founded in 2019, Volt is seeking to create a global real-time payments system by uniting various open payments networks onto one platform, according to its website. “[With […]

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Victor Swezey

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June 30, 2023
Fintech Funding: Bank of America leads funding round for OpenFin | Bank Automation News

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Investors have their sights set on startups presenting offerings in financial conductivity, identity verification, compliance and fraud. “We’re having, even as investors, to find different business that we can lean into that we are going to be excited about how they are going to be valuated through their entire path to exit or IPO,” Drew […]

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Whitney McDonald

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June 2, 2023
Fintech Funding: Vesey Ventures launches $78M fintech fund | Bank Automation News

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Vesey Ventures has launched a fintech startup fund with $78 million in capital to help early-stage tech companies get off the ground. The fund invested capital in five fintechs so far, including cybersecurity and identity protection firm Cyrus, and embedded foreign exchange solution Grain, among others, according to a release from the company. Vesey is […]

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Brian Stone

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May 5, 2023
Fintech Funding: Versana raises $40M from major banks | Bank Automation News

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Syndicated loan platform Versana raised $40 million from U.S. Bank, Deutsche Bank, Morgan Stanley and Wells Fargo — which are also the platform’s latest clients. The platform, which aggregates and normalizes data from member banks, launched in December with its first investors and clients, including Bank of America, Citi, Credit Suisse and JPMorgan, Versana […]

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Brian Stone

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March 31, 2023
Failing banks invested in fintechs | Bank Automation News

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Signature Bank followed in Silicon Valley Bank’s footsteps Sunday when regulators overtook the spiraling financial institution. Today, First Republic Bank is drawing attention as its shares take a dive. At 2:30 p.m. ET Monday, First Republic Bank’s shares sat at $41.46, down 50% from market open. Before last week, all three banks played integral roles […]

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Whitney McDonald and Brian Stone

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March 13, 2023
UK fintech spending plummets in 2022 | Bank Automation News

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The U.K.’s fintech sector was hit hard last year, with investment plunging 56% in 2022 to $17.4 billion from $39 billion the previous year, according to KPMG’s latest Pulse of Fintech report. The second half of 2022 suffered more due to the combination of higher inflation and interest rates as well as volatile stock markets; […]

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Lynn Strongin Dodds

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March 9, 2023
Financing a startup: Breaking through current cost barriers | Bank Automation News

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It’s a tough time to finance a startup. Startups looking to secure capital to underwrite consumer auto loans this year face roadblocks as investors tighten their purse strings, driving up the cost of funds and stymieing the plentiful flow of capital fintechs tapped into two years ago. Fintechs looking to secure warehouse lines of credit […]

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Amanda Harris

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February 28, 2023
Fintech Funding: Treasury Prime secures $40M | Bank Automation News

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Total fintech funding and number of deals fell last year amid rising inflation and interest rates following a digitally transformative 2021 in the wake of the COVID-19 pandemic. In 2022, fintech funding fell 46% year over year to $75.2 billion, according to CB Insights’ “2022 State of Fintech Report.” In the U.S., fintech funding plunged […]

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Whitney McDonald

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February 2, 2023