Big money flowing into fintech this week, but the top deals are smaller. And by “smaller” we mean the top deal is in the $200M+ range. This – to me – signals a lower investment level than we have seen in the past year, though we had TOO many deals again this week to list, meaning we had several over $100M that were not amongst the Top 5. So – the trend for the week appears to be MORE deals – less MEGADEALS – more in a select range of $100M-$250M – a new trend. Now – here we go with our analysis of the winning deals.
- This week, our top deal came in at $250M for a “flexible wage access platform” – a/k/a temp jobs. But even so, we like that it is totally automated and it has some BIG investors
- We have two deals in the REtech sector this week – one touching on home equity funding and the other offering a marketplace for commercial real estate lending. We have a strong conviction that this sector is – and will continue to be – one of the hottest moving forward.
- Two deals came out of the US, but on both coasts. The others were out of Spain, Australia and France – so the US and Europe had strong showings 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.
$250M, Debt | Spain | Flexible wage access platform | Citi, Goldman Sachs, AnaCap Financial Partners |
LinkedIn Firm Overview:
“Jobandtalent is the world-leading temporary job platform that connects great people with a steady stream of work. We are reshaping temporary work and creating the conditions for people to truly thrive. We harness the power of technology and data to provide our people back-to-back opportunities, in order to provide the stability and perks associated with long-term employment. Jobandtalent was founded in 2009 in Madrid with the goal of fundamentally tearing down the barriers of job searching and hiring, and is one of the most successful and fastest growing companies in the industry today. Having placed simplicity and fairness at the core of our platform, we have matched 2,000 international clients with over 200,000 people in 2021. Jobandtalent is currently valued at $2.4 billion and is backed by leading investors including SoftBank, Kinnevik, Atomico and BlackRock. For more information, visit jobandtalent.com. Headquartered in Madrid, but home to the world, the remote-first company is operating in 9+ markets across Europe and the Americas and has ambitious plans for further expansion.“
$200M, Series A | Australia | Merchant payment solutions | YC Continuity Fund, Kaiser Permanente, Nexus Venture Partners, Glade Brook Capital, Lachy Groom |
“Accelerating expectations, technology advances and regulatory change have delivered a once-in-a-generation opportunity to reimagine payments. Let’s level the paying field.”
$193M, Series E | France | Digital health insurance app | Teachers’ Venture Growth, Temasek, Index Ventures, Coatue, Ribbit Capital, Exor, Dragoneer, Lakestar |
“Alan is the all-in-one health partner. We give everyone access to a healthy & productive life, empowering the body and the mind. Our services include the most intuitive health insurance offering, our Alan Clinic to navigate the healthcare system and Alan Mind, our mental well-being offer among other things! We cover more than 275.000 members and are partners of 14.000 companies for the health of their employees. With Alan, people are healthier, happier and more productive. We are the first new independent insurance licensed in France since 1986 by the French Prudential Supervisory Authority (ACPR). We operate in 🇫🇷, 🇧🇪 and 🇪🇸. Alan has raised more than €300 million.“
$170M, Series B (Equity & Debt) | NYC | Digital commercial real estate financing platform| Parker89, Cross River Digital Ventures, NFX, Canaan, JLL Spark, Animo Ventures, Capital One Ventures, Citi Ventures, Citi SPRINT, StepStone Group, Blitzscaling Ventures, Cross River Strategic Direct Lending Group|
Firm Website Overview:
“Lev is building the future of commercial real estate financing. Get access to thousands of lenders and close the right financing with ease through Lev Marketplace or close financing online, remarkably fast for your NNN properties with Lev Lending.”
$115M, Series C | Palo Alto | Home equity funding platform | WestCap, Andreessen Horowitz, Ribbit Capital, Redwood Trust, Atalaya Capital Management, DAG Ventures, Deer Park Road Management, The Palisades Group, Alpaca VC |
“Point is the first FinTech platform where homeowners can sell equity in their homes, giving investors access to a new asset class – owner-occupied residential real estate. Historically, the only way a homeowner could unlock the wealth in their home was to take on further debt. Now with an equity investment from Point, they can de-leverage and diversify their wealth so they can invest in their small businesses, make home repairs, pay off debt, or go back to school. Point is the first consumer finance product that is truly aligned with the customer. When the homeowner does well, Point and its investors do well. We are a well-financed, fast-growing startup backed by top investors like Andreessen Horowitz, located in downtown Palo Alto just minutes from Caltrain. Point’s founders have previously founded TrialPay (acquired by Visa), Yub (acquired by Coupons.com), Metails (acquired by Buy.com), SiteAdvisor (acquired by McAfee), Affirm, SendGrid (acquired by Twilio), and TXN (acquired by Envestnet).“
We’ll be back next week with more news on fintech VC funding.