2021 was an unprecedented year for funding across sectors, as deals surpassed previous years. But one quarter into 2023, can we assume the party’s over? Yes, deals have slowed, and tech companies are experiencing layoffs. Many are weighing in on what is happening and who is at risk of failing. Advice ranges from “seek VC funding before you need it,” “get to profitability fast,” “decrease your seats now,” and “lean means more green.”
We must consider that worldwide economies are reflective of deals and that we’re early into 2023. Funding deals this year may not surpass 2021, but like everything else, the markets cycle, and so does where VCs invest. Chin up and use your cash wisely, startups.
On a side note, from our research, we are seeing fewer deals but higher funding awards. Stay tuned.
Some notable trends this week:
- This week boasts multiple double-digit deals to startups in the revenue phase- an increasing ‘requirement’ for funding for 2023.
- From our research, Blockchain was the funding category winner this week.
- The trend continues for funding of ‘non-traditional,’ aka, non-bank solutions in payments, currency, and asset transfer solutions.
1Yonder
$77.4M | Equity & Debt| UK | Payments| Northzone, RTP Global, Joseph Moore, Kunal Shah, Sharmadean Reid, Matt Robinson, Rio Ferdinand| https://www.yondercard.com/
LinkedIn Overview:
“The epic credit card for foodies – build good credit habits while you earn and enjoy rewards at the best spots in town. We’re a modern credit card with no foreign exchange fees, worldwide travel insurance, and more. Apply without a UK credit score.”
2Pagaya
$75M | Equity| NYC | FinTech | Oak HC/FT | https://pagaya.com/
LinkedIn Overview:
“Pagaya is a financial technology company that enables financial institutions to expand access to more customers through its artificial intelligence network.”
3Unchained
$60M, Series B | Equity | Texas | Crypto | Valor Equity Partners, NYDIG, Trammell Venture Partners, Ecliptic Capital, Highland Capital Partners | https://unchained.com/
LinkedIn Overview:
“Securely take control of your bitcoin with our cold storage vaults. Get access to our suite of integrated financial services, including a trading desk, bitcoin-backed loans, and bitcoin retirement accounts. Not your keys, not your bitcoin.”
4Berachain
$28M, Capital | Equity | CO | FinTech | Anthemis, Fin Capital, Norwest Venture Partners, Greycroft, Bowery Capital, Firebolt Ventures | https://www.elevate.inc/
Website Overview:
“Your benefit plans, your way. Easily build and customize your benefits plans with our configurable attributes that bring your exact concepts to fruition…”
5Mooncard
$40.6M, Series C | Equity | France | Payments | Orange Ventures, Portage, Agale` Ventures, Blackfin Capital Partners, Partech Partners, RAISE Ventures | https://www.mooncard.co/
LinkedIn Overview:
“Reinventing expense management for companies of all sizes. Mooncard is a leading SaaS solution for business expenses and corporate spend management…”
