Top 5 VC Deals of the Week in Fintech (8/1/23)

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

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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…”

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