TLDR: FinTech funding slows with $332.65m raised this week
Key points:
- FinTech funding slowed this week with only $332.65 million raised, despite 21 deals being completed
- Top deals included FintechOS securing $60 million and Transcend landing $40 million
FinTech funding slowed throughout this week’s funding rounds as only $332.65m was raised, despite a solid 21 deals being completed. This marked a significant drop in funding compared to previous weeks, with notable deals like a $1 billion Wiz deal and 26 deals two weeks ago. The highlight of the week was FinTech platform FintechOS securing a $60 million Series B+ led by Molten Ventures, following a reported 170% increase in operating margins. Data privacy specialists Transcend also landed a significant $40 million Series B round. FinTech dominated the deals, with seven completed, followed by a successful week for the RegTech space. The USA continued to lead as the hub of FinTech investment, with 12 deals completed, followed by the UK with five deals, and other countries like Sweden and Israel also landing big investments.
Other notable funding rounds this week include:
- Old Well Labs securing $36 million Series A funding led by Nellore Capital
- Doconomy securing €34 million funding to enhance climate action capabilities
- Relay securing $32.2 million in Series B for small business banking
Overall, despite the slowdown in funding, there were still significant deals and investments made in the FinTech sector this week.
