Top 5 VC Deals of the Week in Digital Wealth (1/17/23)

Digital Wealth News Continues our Weekly Series Covering the Largest VC Deals of the Week Worldwide in Fintech

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By Teresa Leno

Last week CB Insights released its State of Venture Global | 2022 recap report, and as many anticipated, VC funding fell 32% in 2022. However, almost as many deals were funded worldwide in 2022 (36,177) compared to 2021’s 37,669 deals, with US-Based companies accounting for 48% of VC funding in Q4 2022! That, my friends, is IMPRESSIVE!

For those of you who love digging into VC stats, you can download CB Insights’ 279-page report here. The information is presented in an easy-to-read graphic format to help ensure you know what you’re talking about at your next party.

Back to this week’s To 5 VC Deals and some trends worth noting from this week’s winners

  • Payments, blockchain, and crypto were the week’s winners as all eyes are on the money- how to send it and bring it in quickly.
  • Three of the five winners are US-based, winning a combined $76.7 in funding.
  • CyberX is entering Series A funding after six years as an already established digital markets firm. Their team comprises of industry talent previously employed by Goldman Sachs, UBS, Merrill Lynch, Citibank, Blackrock, and more.


1Paytient

$40.5M, Series B  | Equity | Ohio  | Payments | Silicon Valley Bank, Mercato Partners, Bertelsmann Investments, Lightbank, Felicis Ventures, Box Group, Lachy Groom, Left Lane Capital, Commerce Bank, Crossbeam Ventures, Cultivation Capital, Inspired Capital | https://www.paytient.com/

LinkedIn Overview:

“Paytient is a financial technology company on a mission to help people better access and afford care. Our financial technology gives Americans the funds they need to pay for the more than $400 Billion in out-of-pocket healthcare expenses (e.g., spending within deductibles, co-pays, co-insurance) that were billed last year.

For too long, there has been too much preventable financial harm and delayed or deferred care hurting patients and providers. We envision a fairer future, over the horizon, where every American can more easily pay for care and live a financially healthier life…”

2Butter

$22M, Series A  | Equity | SF | Payments | Norwest Venture Partners, Atomic, Transpose Platform, Spring Tide Capital | https://www.butterpayments.com/

LinkedIn Overview:

Involuntary churn – accidental payment failure – is a bigger problem than you may think. With Butter, your business automatically recovers an average of 5% of subscription customers lost to legitimate payments failing. This usually means an extra $1M of found revenue per year.

Butter’s patented technology optimizes each and every payment for individual success, not in batches, which makes our product much more effective than other tools. The best part is that there is no engineering required. If your business is using Stripe, or other popular PSPs, Butter can be set up easily in as little as 10 minutes.

3CyberX

$15M, Series A  | Equity  | Singapore  | Blockchain | Foresight Ventures  | https://www.cyberx.com/

LinkedIn Overview:

Founded in 2016, CyberX Group is a leading technology firm engaged in digital asset trading, infrastructure building, and market making. Utilizing the latest advancements in blockchain, deep learning, and financial engineering, the company’s industrial-grade crypto finance infrastructure and extensive liquidity network connect assets in centralised finance (CeFi) venues and decentralised finance (DeFi) protocols. CyberX is dedicated to building infrastructure for and enhancing the efficiency of the digital markets.

4The Easy Company

$14.2M, seed  | Equity  | San Francisco | Crypto | Lobby Capital, Relay Ventures, 6thMan Ventures, Tapestry VC, Upside Partnership, Scribble Ventures | https://easy.me/

Overview From Company Website:

“Easy is the new social wallet that makes exploring web3 fun, safe, and easy. Real-time feeds from your friends and communities. A better way to discover web3, together.”

5Mondu

$13M, Series A+ | Equity  |  Germany | Payments  | Valar Ventures, FinTech Collective | https://www.mondu.ai/

Overview From Company Website:

“Mondu brings B2B payments up to par with B2C payments, putting customers in the heart of the payments flow and ensuring they have a seamless, modern, and state-of-the-art experience. Business customers have the power to purchase and pay how and when they want, which translates to a higher conversion rate and basket size for the sellers.”

We’ll be back next week with more news on fintech VC funding.