The largest this week
🇺🇸 iTrustCapital raised a $125M Series A growth equity funding at a valuation of $1.3B. The company allows clients to transact in cryptocurrencies with the tax advantages of their IRA.
🇺🇸 Financial advice startup Facet Wealth raised a $100M Series C led by Durable Capital Partners LP, with participation from the previous investor Warburg Pincus, TeleSoft Partners, and Green Cow Venture Capital. The company creates customized and unbiased financial plans at an affordable subscription price, so to bring financial advice to underserved segments.
Other notable fintech deals from around the globe:
🇫🇷 Revenue-based financing startup Karmen came out of stealth with a $22M round led by Fasanara Capital and Samapaita. Fasanara is a specialist in the financing of lending startups with 7 deals in the segment in 2021 alone.
Karmen's solution integrates as a plug-and-play digital platform that allows players to securely share their suite of tools: billing (Stripe, Checkout, GoCardless, etc.), accounting, and banking (via OpenBanking) in minutes. The data received is then processed by a proprietary scoring algorithm that evaluates the credit risk and determines in less than 48 hours whether the actor is eligible for financing or not.
🇬🇧 Cushon, the workplace pension fintech, has raised £35m through existing investors Augmentum Fintech and AshGrove Capital. The company which offers the "first climate-friendly, sustainable pension" is also acquiring Creative bringing its total customers to 400,000 and assets under management to around £1.7 billion.
Read up on all the latest fintech deals in Dealroom.co
Notable exits:
🇬🇷 Greek neobank Viva Wallets is being acquired by JP Morgan, at a rumoured valuation of €1.5B. Viva Wallet has grown to become the first European fully cloud-based neobank that provides localized payment and credit services to SMEs. More in the article from The Recursive with Dealroom data.
🇫🇷 🇩🇪 French insurtech Luko has acquired German startup Coya. M&A in the insurtech market is increasing.
🇺🇸 Open banking fintech Plaid acquired ID verification platform Cognito for $250M. With the acquisition, Plaid can now deliver a full-stack solution for identity verification and compliance that improves their entire customer signup experience, increases onboarding success rates, reduces fraud and saves time and money through automation.
