The domestic “cool down”
M&A involving U.S.-based, VC-backed companies is on pace for its slowest year since 2013. Through Q2 2023, only 429 U.S.-based, VC-backed startups have been scooped up in M&A deals. That puts the M&A market at its slowest pace since the world’s economy emerged from the global financial crisis in 2008-2009, according to Crunchbase data.
“There are more than 50,000 US-based, venture capital-backed startups– a figure that has doubled since 2016. But there’s a shortage of capital to fund them with,” CNN Business.
If you’re wondering what’s ahead for FinTech, CBInsights is hosting its Midyear Review webinar on Thursday, August 3rd; register here.
Some notable trends this week:
- Foreign deals are closing almost 3:1 over U.S. deals.
- A familiar funder for this week’s #1, Settle; Silicon Valley Bank.
- Money solutions are the rage as illustrated in this week’s deals.
Drum roll, please; here are this week’s Top 5 VC Deals…
1Settle
$145M, Capital| Debt | SF | WealthTech | Silicon Valley Bank | https://www.settle.com/
LinkedIn Overview:
“Settle is on a mission to build cash flow innovation for founders. We are an all-in-one payments solution tailored to the needs of growing consumer brands — so you can pay bills, manage invoices, and apply for flexible and straightforward working capital solutions seamlessly…”
2AppHub
$95M, Capital| Equity | Boston | FinTech | PSG, Silversmith Capital Partners| https://www.apphub.com/
LinkedIn Overview:
“AppHub is a growing family of software solutions for eCommerce merchants. We’re on a mission to help merchants maximize their commercial success and advance the future of commerce together..”
3Flashbots
$60M, Series B, Capital | Equity | Cayman Islands | Blockchain | Paradigm| https://www.flashbots.net/
Website Description:
“Flashbots is a research and development organization formed to mitigate the negative externalities posed by Maximal Extractable Value (MEV) to stateful blockchains, starting with Ethereum…”
4Jeeves
$40M, Capital| Equity |NYC | FinTech | Andreessen Horowitz, CRV, Tencent | https://www.tryjeeves.com/
LinkedIn Description:
“Jeeves (www.tryjeeves.com) is building international fintech infrastructure from scratch; this includes a global switching layer across countries and the ability to run all your company spend – corporate cards, non-card, and cross-border payment – on Jeeves…”
5Hi
$30M, Capital |Equity | Web3-based neobank | Blockchain | Animoca Brands | https://hi.com/
Website Description:
“As a member of our community, we’d like you to experience the best of blockchain innovation without the needless complexity or jargon. You’ll get access to a next-gen crypto exchange and mobile banking app, for savings, investments and payments. And yet, hi is not just an app…”
