We’re back with another round of top 5 VC deals for the week in the digital wealth sector.
Looks like the fintech VC spigot has been turned back on, after endless rolling Spring breaks, and the Easter and Passover holidays have subsided.
And it’s a very diverse set of funding rounds we have this week including a challenger bank (Current), an interesting automated receivables funding platform (Pipe) which apparently is quite the fintech darling these days, two rewards platforms – one in Wisconsin and the other in India, an a LatAm cross-border payments platform out of Uruguay.
Check out this week’s top 5 fintech VC deals for the week below…
- Current (Banking) | $131M, Series C | NYC-based challenger bank | Lead Investor: Tiger Global Management
LinkedIn Firm Overview: “We are a leading U.S. challenger bank serving Americans overlooked by the traditional banking industry. Our proprietary Current Core technology allows us to provide premium banking services for everyone, regardless of age or income, and improve the financial outcomes of our members without overdraft fees, minimum balance requirements, or hidden fees. We give members up to two days faster direct deposit paychecks, free overdrafts up to $100 with Overdrive™ , points redeemable for cash back, access to 55,000 free ATMs worldwide as well as 24/7 member support 365 days a year.”
- CRED (Payments) – Series D, $215M | Bangalore-based members only rewards app | Lead Investors: Falcon Edge Capital & Coatue
LinkedIn Firm Overview: “We’re a team of creative, driven and persistent people. We want to create a community of the creditworthy. We want to re-imagine the ideal way of life that works on two way trust and respect. Every partnership, collaboration or idea we create works towards providing an experience beyond imagination. Every member is passionate towards this goal. This passion seamlessly drives us forward.“
- dLocal (Payments) | $150M | Uruguay-based cross border payments system | Investors: Alkeon Capital, Bond, D1 Capital Partners, Tiger Global
LinkedIn Firm Overview: “dLocal (https://dlocal.com) is the only 360 payments technology platform designed to handle mass online payments in growth markets across LATAM, APAC & EMEA. Global e-commerce companies, including Uber, Sony, GoDaddy, Constant Contact and Avast, rely on dLocal to accept 300+ locally-relevant payment methods online, as well as issue mass payouts to their contractors, agents and sellers in emerging markets around the world…”
- Fetch Rewards (Payments) – $210M, Series D | WI-based consumer loyalty & rewards app | Investors: SoftBank (Vision Fund 2), ICONIQ, DST, Greycroft, e.ventures
LinkedIn Firm Overview: Fetch Rewards is a mobile shopping platform that rewards shoppers for buying the brands they love. The Fetch Rewards app gives users the easiest way to save on everyday purchases by simply scanning their receipt. For our brand partners, the platform allows them to understand a 360 degree view of shopping habits, and to meaningfully reward a customer’s individual loyalty.
- Pipe (Trading) – $150M, Series C – Miami based trading platform for recurring income streams | Lead Investor: Greenspring Associates
Website Firm Overview: Pipe transforms recurring revenue into upfront capital for growth without debt or dilution.
We’ll be back next week with more news on fintech VC funding.