You would think that with last week’s Thanksgiving holiday here in the US, muted as it was due to the pandemic, we would have seen slowed down deal activity in the fintech sector. Turns out that assumption would be WRONG, and we still saw deal closings, believe it or not, with one that topped $300M(!!) and three more topped the $100M+ figure.
We fully expected to see virtually no deals, but when reviewing, realized that we’re pushing year end and dry powder sitting in our favorite venture capitalists’ vaults must be put to work quickly.
The $350M deal was Hippo, an insurtech we first covered when we were publishing FintekNews, and which was founded by ingenue Assaf Wand, who we will be featuring soon in an upcoming Fintech Luminaries piece on Digital Wealth News. Another insurtech, Chinese-based Waterdrop – raised $150M USD and Current – a US challenger bank – raised $131M USD. Chainalysis -an NYC-based blockchain compliance firm – raised $100M. Finally, India-based payments app CashFree rounded out our top 5 with a $35M capital raise
Following are the latest top five fintech VC deals of the week according to the Digital Wealth News research team:
- Hippo (Insurtech) | $350 million | CA-based insurtech with integration into loan origination systems and others | Mitsui Sumitomo
- Waterdrop (Insurtech) | $150 million, Series E | China-based insurtech offering crowdfunding, commercial insurance, mutual insurance | Tencent
- Current (Banking) | $131 million, Series C | US-based challenger bank | Undisclosed(!)
- Chainalysis (Blockchain/Risk) | $100 million, Series C | NY-based blockchain compliance | Addition, Accel, Benchmark, Ribbit Capital
- CashFree (Payments) | $35.3 million, Series B | India-based processor of online payments | Apis Growth Fund II, Y Combinator