Top 5 VC Deals of the Week in Digital Wealth (6/5/2023)
Hard economic times often yield innovation; with that, seed funding is coming back. Thanks to layoffs and more people leaving to start their own companies, 2023 and onward may be an exciting period. VCs are now looking more at the people, not necessarily at quick profits, and funding awards are at the seed stage. After all, slow and steady wins the race (and turtles can outperform unicorns).
“As investors slow down their pace, companies take longer to get to Series A, Crunchbase data shows.”
Some notable trends this week:
- Payments, blockchain, and crypto startups received significant funding this week- a sign things are dramatically changing.
- Familiar funders in the payments category- PayPal, Mastercard, plus Tiger Global.
- Numerous payments startups are spanning the globe (#1 NomuPay, #4 Fabrick, to name a few), signaling payments transactions are easy and accessible, regardless of country or currency.
Up next are this week’s Top 5 VC Deals…
1NomuPay
$53.6M, Series A, Capital| Equity| Ireland | Payments| Finch Capital, Outpost Ventures | https://nomupay.com/
LinkedIn Overview:
“NomuPay is a newly established company that through its subsidiaries will provide state of the art unified payment solutions to help its clients accelerate growth in large high growth countries in Asia, Turkey and the Middle East region…”
2Magic
$52M, Capital| Equity | SF | Blockchain | PayPal Ventures, Cherubic, Synchrony, KX, Northzone, Volt Capital | https://getmagic.com/
LinkedIn Overview:
“Magic is a frictionless way to plug in thoroughly vetted, cost-effective remote workers, to help scale your key business functions…”
3Carrum Health
$45M, Series C, Capital | Equity | SF | Payments| OMERS Growth Equity, Revelation Partners, Tiger Global, Wildcat Venture Partners, Cross Creek, SpringRock Ventures | https://carrumhealth.com/
LinkedIn Overview:
“Healthcare is unreasonably complex and costly. At Carrum Health, we’re applying a common sense approach to simplify the payment model and produce greater value for employers and their employees…”
4Fabrick
$43M | Equity |Italy | Payments | Mastercard | https://www.fabrick.com/en-gb |
LinkedIn Overview:
“Fabrick is a new open financial ecosystem that enables and fosters a fruitful exchange between players that discover, collaborate and create innovative solutions for end customers, through an API platform…”
5Anoma Foundation
$25M | Equity | Switzerland| Crypto | CMCC Global, Electric Capital, Delphi Digital, Dialectic, KR1, Spartan, NGC, MH Ventures, Bixin Ventures, No Limit, Plassa, Perridon Ventures, Anagram, Factor | https://anoma.foundation/
LinkedIn Overview:
“Fostering and ensuring the development and long-term sustainability of the @anoma & @namada ecosystem.”
