The largest this week:
🇰🇷 Korean financial super app Toss raised $228M in funding at a $6.5B valuation. This is slightly less than the $7.4B valuation last year.
💸 Toss started focusing on money transfer and remittances and has now expanded to include free credit inquiry services, Toss credit card, and Toss Securities. It is now one of the largest fintech companies globally, with more than 20M customers.
🇲🇾 eWallet scene heats up in Malaysia with TNG Digital raising $168.3M funding with Lazada as lead investor. The new investment solidifies the collaboration between key segment leaders, one in e-commerce and one in digital financial services and payments.
🇺🇸 Layer 1 blockchain, Aptos Labs, raised a $150M Series A led by FTX Ventures and Jump Crypto. Aptos Labs announced in February its plan to bring the blockchain developed by Diem, Meta's crypto arm, back to life.
Other notable fintech deals from around the globe:
🇬🇧 Social investment platform Shares.io has raised a $40M Series B led by Valar Ventures. Shares allows users to invest in stocks with as little as £1 and features social components such as allowing users to follow their friends’ investments, advice sharing, and more. Shares has now over 150k users in the UK and plans to expand in Europe
🛍 Discover 80+ stock trading platforms for retail investors.
Read up on all the latest fintech deals in Dealroom.co
Notable M&A deals:
🇩🇪 🇫🇷 Huge consolidation in the SME banking sector in Europe. French Qonto acquired German competitor Penta for an undisclosed sum in the “mid-three-digit million range”. The acquisition is a key move for Qonto's ambition to become the leading bank for SMEs and freelancers in Europe.
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