Some new names in our column this week (hooray) with a blend of fintech genres. Remember, we publish only the top 5 weekly deals in the sector internationally, with the thought that if you follow the big money, you’ll see where the overall fintech market is trending. This week, we see more deals off-shore and less overtly consumer-facing deals, which we find quite interesting.
- This week, our top deal came in at $620M for…..a bank out of New Jersey! But not just any bank – Cross River has long positioned itself as a cutting edge fintech on top of its traditional FDIC-insured banking product offerings;
- This week was a truly international fare, with every deal originating from a different country – the US, Sweden, France, Canada & Switzerland;
- One of our deals provides funding for a firm that “enables the realization of cross-chain applications with a low level communication primitive”. Friends, could we aim for plain English please?! Lordy.
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.
1Cross River Bank
$620M | New Jersey | Bank offering payments/lending | Eldridge, Andreessen Horowitz, T. Rowe Price Investment Management, Whale Rock, Hanaco Ventures |
LinkedIn Firm Overview:
“Cross River provides technology infrastructure powering the future of financial services. Leveraging a proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending, and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC.“
2ArK Kapital
$183M, Seed (Equity & Debt) | Sweden | Startup lender | Local Globe, Creandum, iZettle, Supercell, King, EQT Ventures |
LinkedIn Overview:
“ArK is a precision financing company that empowers technology businesses to grow faster, enables owners to maintain control, and reduces risk for investors. ArK is founded by a world-class AI technology developer, a six-time-founder, and the veteran banker you always wanted.“
3Deepki
$166M, Series C | France | ESG Data for real estate market | Highland Europe, One Peak Partners, Bpifrance, Revaia |
LinkedIn Overview:
“Founded in 2014, Deepki supports real estate players in their transition to net zero and sustainability. To achieve this transition towards sustainability, Deepki helps realign stakeholders’ interests to build efficient strategies and transform real estate into a positive force for the planet. Deepki is the only company offering a fully populated ESG data intelligence platform combined with expert advisory services. The company’s end-to-end solutions leverage data to improve ESG performance and enhance the value of real estate assets. The figures speak for themselves: 400M+ of sqm monitored 38+ countries where we collect data 180k+ teqCO₂ savings detected 250+ references across the world…”
4LayerZero
$135M, Series A2 | Canada | Blockchain interoperability protocol | Sequoia Capital, FTX Ventures, Andreessen Horowitz, Coinbase Ventures, PayPal Ventures, Tiger Global, Uniswap Labs |
Firm Website Overview:
“Say hello to LayerZero, an omnichain interoperability protocol. LayerZero enables the realization of cross-chain applications with a low level communication primitive.”
5Yokoy
$80M, Series B | Switzerland | Expense management, invoicing & credit card processing | Sequoia Capital, Balderton Capital, Six FinTech Ventures, Left Lane, Swisscom Ventures, Speedinvest, Visionaries Club, Zinal Growth |
LinkedIn Overview:
“The all-in-one spend management platform. Yokoy automates spend management for medium and large enterprises with artificial intelligence, combining expense management, supplier invoice management and smart corporate cards into one single intuitive platform. Founded in Switzerland in 2019 by experienced business professionals and scientists, Yokoy is the leading, all-in-one fintech platform that provides an AI-based full spend management suite for midsize and enterprise companies. By combining automation, API integrations and machine learning developed in Yokoy’s own cutting-edge research lab, the company offers expense management, supplier invoice management and smart corporate credit cards in a single intuitive tool. All underpinned by the most up-to-date security and stability. Yokoy’s mission is to finally rid the corporate spending world of the legacy processes that have plagued it for decades and is backed by leading investors including New York-based Left Lane Capital and London-based Balderton Capital...”
We’ll be back next week with more news on fintech VC funding.
