The largest this week:
🇺🇸 Cross River Bank, a BaaS and embedded finance provider, raised $620M at a $3B valuation in a round led by private equity firm Eldridge and Andreessen Horowitz. Cross River Bank is also putting crypto/web3 as “front and center” and had the foresight to lean into this new frontier and support Coinbase in its early days.
Discover more in our embedded finance report.
🇺🇸 🇵🇹 Remote has tripled its valuation to $3B to manage payments for a globally distributed workforce. The $300M Series C has been led by Softbank and comes on the heels of a 900% growth for its platform last, with revenues up 13x in the same period.
🇮🇳 Kogta Financial, the non-banking SME lender, raised a $115M Series D led by Mumbai-based private equity firm Multiples.
🇧🇷 Cerc, a Brazilian credit and business lending company, raised $100M in funding as it gears up for an IPO. CERC is transforming the credit market in Brazil, bringing more security in business lending with the use of receivables.
Other notable fintech deals from around the globe:
🇬🇧 Yonder, a London-based credit card challenger, emerges from stealth with £20M seed funding by Northzone and LocalGlobe. The rise of alternative payments is putting pressure on the credit card market, but Yonder’s mission is to restore consumers’ confidence in credit, eliminating stress and complexity from the customer experience.
🇬🇧 MoneyBox, a London-based digital wealth manager, secured £35m in a Series D funding round. MoneyBox offers savings products like lifetime ISAs, personal pensions and stocks and shares investments. The company will expand into cryptocurrency “through the lens of diversification, not through the lens of speculation."
🇩🇪 lemon .markets, a German trading software provider raised a $15M seed round led by Swiss VC&PE Lakestar, Swedish Creandum and California-based Lightspeed Venture Partners. The company offers stock trading APIs for developers.
Read up on all the latest fintech deals in Dealroom.co
Notable exits:
🇺🇸 Goldman Sachs Asset Management is buying corporate retirement plan robo-advisor NextCapital Group.
