Friends, with the holidays now behind us, we’re back it in 2023 analyzing the top deals in fintech and digital wealth the world over. Turns out, there were still some major deals closing in the last weeks of 2022, and we’ve got them here for your review.
Some trends worth noting:
- So this is a WEE bit sobering and worth considering. Not one deal out of the US for the last 2 weeks in December qualified to be included in this column. Is fintech VC dead in the US? We think not, BUT……it’s something to know.
- ASIA-ASIA-ASIA. The top 3 deals all came from the Pacific Rim, and different countries, including South Korea, Indonesia and Singapre.
- Crypto is alive and well. Two of the top five deals touched on the digital assets sector.
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.
1Toss
$405M, Series G | South Korea | Mobile Finance | Tonic Private Equity, Korea Development Bank, Altos Ventures, Goodwater Capital, Greyhound Capital, Aspex Management, BOND, DUMAC, Korea Investment & Securities |
https://toss.im/en
LinkedIn Overview (via Google Translate with some edits):
“The goal (of Toss) is clear. Toss is trying to end the uncomfortable and complex financial problems. Toss is filled with people whose hearts are beating for this dream. We want to create a financial service that makes common sense for everyone, the best user experience, and a feeling of happiness every time you use it. Since Toss introduced a simple remittance service that allows easy and fast remittance without an official certificate, it has been growing rapidly by introducing more than 40 different services…”
2Amber
$300M, Series C | Singapore | Crypto Financial Services| Fenbushi Capital, Temasek, Sequoia Capital China, Coinbase Ventures | https://www.ambergroup.io/
LinkedIn Overview:
“Amber Group is a leader in digital asset trading, products, and infrastructure. We work with companies ranging from token issuers, banks, and fintech firms, to sports teams, game developers, brands, and creators. Operating at the center of markets, we provide liquidity across all major exchanges, applications, and networks. Across all products and categories, we have turned over $1T in volumes since inception. Our core value is building strong relationships with our clients; helping them buy and sell digital assets, earn yield, manage risk, and access liquidity. Through our consumer fintech platform, WhaleFin, individual investors enjoy secure, award-winning investing services including app & web trading, fixed income and structured products..“
3Akulaku
$200MB | Indonesia | Banking & Digital Finance | Mitsubishi UFJ Financial Group (MUFG) | www.akulakufinae.co.id
LinkedIn Overview (via Google Translate):
“Akulaku is a leading e-commerce platform and digital financial ecosystem in Southeast Asia that operates in 4 major countries: Indonesia, the Philippines, Vietnam and Malaysia...”
4Mews
$185M, Series C| Czech Republic | Hospitality Management & Revenue Platform| Kinnevick, Goldman Sachs, Revala, Derive Ventures, Orbit Capital, Battery Ventures, Notion Capital, Salesforce Ventures, Thayer Ventures, Columbia Lake Partners, henQ | https://www.mews.com/en
LinkedIn Overview:
“An innovative hospitality management cloud that empowers the modern hotelier to improve performance, maximize revenue, and provide remarkable guest experiences.“
5Aztec Network
$100M, Series B | UK | Web3 Privacy Layer | Andreessen Horowitz, Zac Williamson, Joe Andrews | https://aztec.network/
Overview From Company Website:
“Aztec is building blockchain encryption without trade-offs.Our advanced zero-knowledge cryptography means applications can be efficient, private, and secure.In the current blockchain paradigm, users and entities broadcast data in the public, leading to an unacceptable trade-off: give up encryption to get trustlessness.
At Aztec, we refuse to accept the compromise between privacy and security. We demand both.Aztec is built from the ground up to be privacy-first. Our UTXO architecture, inspired by Bitcoin, allows for end-to-end encrypted transactions.
And our category-defining zero-knowledge research means encryption is fast, efficient, and secure…”
