Top 5 VC Deals of the Week in Fintech (8/21/23)

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


Un-Magical Things…

2023 has been strange for the startup world; survival tactics focus on strategic partnerships, while others are low-value acquisitions to help ease repayments to VCs. Deals are still flowing but for less cash, to fewer early-stage startups, at least here in the U.S.

Some unicorns are facing extinction, as they have not produced anything valuable. Investors have committed millions or billions to fast-scaling companies that hire many and have large (credit) bankrolls, yet they may win nothing.

According to Crunchbase, unicorn births have slowed from 2 per day in 2021 to two or fewer per month in 2023;

“That’s yet another indication of how much investors have slowed their pace in investing in private high-growth companies.” – Crunchbase

Some notable trends this week:

  • Foreign deals continue to ‘out fund’ domestic deals.
  • The majority of deals are single-digit millions versus double-digit deals with fewer VCs.
  • More equity and debt combined awards.

Drum roll, please; here are this week’s Top 5 VC Deals…


$100M, Capital| Debt | Mexico | Fintech | Victory Park Capital |

Overview Provided by Reuters:

“Klar, which currently provides payment services, investment accounts and loans to some 2.4 million clients, is looking to expand its user base with the funds. Klar currently offers credit lines…”


$100M, Series C, Capital| Equity | CA | Blockchain | Undisclosed |

LinkedIn Overview:

BitGo provides the most secure and scalable solutions for the digital asset economy, offering regulated custody, borrowing and lending, and core infrastructure to investors and builders alike…


$95M, Capital | Equity | Florida | Payments | Guidepost Growth Equity, Education Growth Partners, Lazard Family Office Partners |

LinkedIn Description:

Founded in 2014, ClassWallet is the leading digital wallet and automated accounts payable platform for federal, state and district education. Saving valuable time and overhead costs to track, pay and report on decentralized purchases..

4Neo Group

$50M, Capital| Equity |India | WealthTech | Peak XV Partners |

LinkedIn Description:

Neo Group is a new-age strategic asset management and financial advisory platform that aims to provide trustworthy, transparent, and unbiased financial solutions to its clients…


$50M, Capital |Equity | GA | Payments | Motive Partners |

LinkedIn Description:

“Splitit powers the next generation of Buy Now, Pay Later (BNPL) through our merchant-branded Installments-as-a-Service platform…”

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