The markets may be in highly uncertain times, but in the fintech venture capital sector, money keeps flowing on.
- This week, our top deal came in at $775M for an Israeli-based B2B credit platform. B2B credit seems to be a growing category for venture investment;
- Four of our five top deals were US-based (with 3 of those 4 out of California) and our top deal, again, came to us from Israel;
- Two deals came to us from the blockchain sector, two provided digital funding for entrepreneurs and corporates and the last covers the wealthtech investing sector – an interesting mix this week.
Without further ado, here are this week’s top 5 fintech VC deals for the week below, in order from highest to lowest funding levels.
$775M | Israel | Fintech credit platform | Apollo, MUFG, Spark Capital |
LinkedIn Firm Overview:
“We are a credit automation leader, specializing in providing scaled, fast debt funding to high growth companies globally. Backed by Spark Capital, MUFG and other leading financial institutions, with offices in New York, Miami, London, Tel Aviv, Abu Dhabi and Singapore we are ready to provide your company with well structured credit you require to grow, fast, utilizing our proprietary patented AI platform.“
$350M | San Francisco | Blockchain protocol | Tiger Global, Republic Capital, Hashed, FTX Ventures, Dragonfly Capital |
“NEAR Protocol is a scalable blockchain designed to provide the performance and user experience necessary to bridge the gap to mainstream adoption of decentralized applications. Unlike other next generation blockchains, this network has been built from the ground up to be the easiest in the world for both developers and their end users while still providing the scalability necessary to serve those users.“
$200M, Seed | San Francisco | Crypto exchange | RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures, Gaingels, Gold House |
Firm Website Overview:
“Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more…”
$150M | Los Angeles | Lending platform for overlooked entrepreneurs | Community Investment Management |
Firm Website Overview:
“Camino Financial — an AI-powered community lending platform — offers affordable credit and wealth building solutions to overlooked entrepreneurs. The company builds proprietary credit assessment and data aggregation AI to identify, price and provide affordable loans tailored to credit-invisible, cash-heavy businesses. By partnering with other financial institutions, public agencies and mission-aligned companies, Camino Financial is able to pool and distribute low-cost funding and educational resources to entrepreneurs. The winning combination of community-driven partnerships and AI technology results in offering loans with monthly payments 40% lower than alternative products in the market. All loans are tailored for upward mobility, setting entrepreneurs on a graduation path to an expanded suite of credit and other wealth building solutions.”
$100M | New York | Wealthtech platform offering alternatives investing opportunities | Reverence Capital Partners |
“CAIS is the leading alternative investment platform for financial advisors who seek improved access to and education about alternative investment funds and products. CAIS provides financial advisors with a broad selection of alternative investment strategies including, hedge funds, private equity, private credit, real estate and structured notes, allowing them to capitalize on opportunities and/or withstand ever-changing markets. Additionally, CAIS provides an industry-leading learning system, CAIS IQ, that helps advisors learn faster, remember longer and improve client outcomes. All funds listed on CAIS undergo Mercer’s independent due diligence and ongoing monitoring. Mercer diligence reports and fund ratings are available to advisors on the CAIS password-protected platform. CAIS streamlines the end-to-end transaction process through digital subscriptions and integrated reporting with Fidelity, Schwab, and Pershing, making investing in alternatives simple. Founded in 2009, CAIS, a fintech leader, is empowering wealth management by leveling the playing field for financial advisors everywhere. Securities offered through CAIS Capital LLC, member FINRA, SIPC.“
We’ll be back next week with more news on fintech VC funding.