Here we go with a fresh look at the past week’s largest venture capital deals in fintech and digital wealth, the world over.
- 5 top VC deals, 5 top countries of origin – this week’s winners were geographically diverse and far-ranging;
- Our funding winner for the week was Satispay, out of Milan, a European payments network founded in 2015;
- Our #2 winner had an interesting new twist we’ve not seen before. Berlin-based Grover is a platform offering technology rentals and advancing “the Circular Economy”. Quite an interesting model.
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.
$305M, Series D | Milan, Italy | Independent Payments Platform | Addition, Coatue, Grehound Capital, Block, Lightrock, Tencent, Mediolanum Gestione Fondi SGR | https://www.satispay.com/en-it/
“Satispay is a thriving European payment network with the goal to change the way people pay in stores and online, and exchange money between friends. Launched in 2015, Satispay is independent from debit and credit cards. Easy and cost-convenient for businesses–who can accept payments from clients with a click on their smartphone, tablet, or pc–Satispay is also a simple and secure app for consumers, simplifying the way they pay, as well as a range of other services. Today we’re an incredible community of 3 million consumers and 200.000 merchants in Italy, Germany, Luxembourg and France. But we are also 300+ bright, dynamic, and innovative professionals from more than 15 countries.”
$260M, Debt | Berlin, Germany | Consumer-Tech Subscription/Rental Platform | M&G | https://www.grover.com/us-en
“Grover is a market leader in technology rentals, enabling people to subscribe to tech products monthly instead of buying them. Founded in 2015 by Michael Cassau, Grover’s mission is to create the most innovative ways for everyone – both private customers and businesses – to get the tech they want. With Grover, subscribers get access to a wide range of over 5,000 tech products, including smartphones, laptops, virtual reality (VR) gear, wearables and smart home appliances on a flexible monthly rental basis. Grover’s service allows its users to keep, switch, buy, or return products depending on their individual needs and budget. Rentals are available in Germany, Austria, the Netherlands, Spain and the United States on GROVER.COM, as well as – in Germany – through Grover’s online and offline partner network, including Europe’s leading electronics retail group, MediaMarktSaturn. Grover is a pioneer in the advancement of the Circular Economy and the number of circulations has nearly been over 800,000 devices. Its business model of renting out tech products to several users across their life cycle allows maximum value to be extracted from each product and reduces e-waste. With a total financing volume of around €1.3bn, and currently over 500 employees, Grover is one of Germany’s best-funded scale-ups.“
$154M | London, England | Embedded Business Finance Platform | Barclays Bank, BCI Financel | https://www.liberis.com/
“Liberis builds flexible embedded finance solutions that empower businesses and provide positive impact. Founded in 2007, Liberis is a leading global embedded finance platform with a mission to provide small businesses with accessible and responsible finance, based on the belief that funding should always be a positive force for small businesses. Liberis provides partners with the technology platform and financial solutions to offer hyper-personalised and accessible funding, empowering their small business customers to grow their revenues. With over 14 global strategic partners and direct reach to more than 1 million small businesses, Liberis has provided nearly $1bn of funding in over 45,000 transactions, enabling over 100,000 jobs to be created and saved. Liberis’ revenue-based finance is a form of receivables finance, not a loan. Amounts advanced are subject to status and our underwriting process before any offer can be made.“
$80M, Series B | Chicago | Blockchain Mobile Payments | Ten31, Washington University in St. Louis | https://strike.me/
Firm Website Overview:
“The superior payments network changes everything. Better for business, fees, innovation, margins, inclusivity, remittances, customers, point-of-sale, commerce, payments, efficiency, costs, fairness, freedom, everybody.”
$40M | Panama | Crypto Derivatives Exchange | QCP Capital, Akuna Capital, Dan Tapiero (10T Holdings) | https://www.deribit.com
LinkedIn Firm Overview:
“Deribit is an answer to those searching for an institutional-grade cryptocurrency derivatives platform. Our goal was to create an efficient and fair marketplace that could connect traders of all backgrounds and trading styles. High matching engine capacity, low latency, advanced risk management, and high liquidity makes Deribit a unique player in the market. Deribit is not available in the United States and other restricted countries.”
We’ll be back next week with more news on fintech VC funding.