Top 5 VC Deals | Fintech
Top 5 VC Deals of the Week in Fintech (11/20/23)
By DWN Staff · Nov 20, 2023 Views: 5
Quality (over quantity)
It's been an almost absent year for M&A, but tech valuations are rising, especially for later-stage startups. Despite fewer deals in 2023, late-stage startups are the new 'shiny things' as many investors pursue a “flight-to-quality” strategy.
"Late-stage investors remain cautious, doing fewer deals and favoring downside protection," -CB Insights.
Looking back through 2023 until now, Digital Wealth News found investors seek the following ten traits when opening the checkbook to fund a startup:
Exit strategy | Competitive advantage | Passion | Talented team | Market size | Management team | Scalability | Traction | Viable business model | Skills & experience in vertical
And that, our friends, is the quality factor...
Some notable trends this week:
- This week's #2, Fnality, has the big banks 'giving' them $$
- Payments led this week's payouts
- Domestic deals got done!
And now, here are this week's top 5 VC deals...
Blockchain.com
$110M, Series E, Capital| Equity | UK | Crypto | Lightspeed Ventures, Baillie Gifford & Co | https://www.blockchain.com/en/
LinkedIn Overview:
"Welcome to the future of finance Bitcoin, Ethereum, and more, available on the Blockchain.com Wallet and Exchange."
Fnality
$95.2M, Series B, Capital| Equity | UK | Payments | Goldman Sachs, BNP Paribas, DTCC, Euroclear, Nomura, WisdomTree, Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumimoto Mitsui Banking Corporation, UBS | https://www.fnality.org/home
LinkedIn Overview:
"The future is accelerating fast. Digital transformation is changing our lives, work and business. While other sectors are evolving, financial markets are slow, fragmented and siloed..."
Imprint
$75M, Series B, Capital | Equity | NYC | Payments | Ribbit Capital, Thrive Capital, Kleiner Perkins, Moore Specialty Credit | https://www.imprint.co/
LinkedIn Description:
"Come and build the easiest and most rewarding way to pay!"
ORO Labs
$34M, Series B, Capital| Equity| SF | Payments | Felicis, Norwest Venture Partners, B Capital, XYZ Venture Capital | https://www.orolabs.ai/
LinkedIn Description:
"ORO makes procurement incredibly easy and efficient for employees. #MakeProcurementAwesome"
Puzzle
$30M, Capital |Equity | SF | Fintech | S32, XYZ Capital, General Catalyst, Felicis, Kapor Capital, Sterling Road, Born Ventures| https://puzzle.io/
LinkedIn Description:
"Don't let the financial future of your startup keep you up at night - Puzzle is here to help..."