Top 5 VC Deals of the Week in Fintech (8/7/23)

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


Fairwell, Au Revoir, Adios, Auf Wiedersehen.

Tech layoffs are slowing, but many companies are laying off most, if not all, of their employees and shutting down. Many disappear almost unnoticed after raising millions. And a pandemic, slow economy, and “reasons outside of their control” aren’t always to blame. 

If you’re interested in founder post-mortems, you can read a compilation of startup failure post-mortems by founders and investors in CB Insights’ 463 startup failure post-mortems. As a startup or investor, you may want to use the article as a guide to what not to do.

Some notable trends this week:

  • Some know how to get the $- Tradeshift, this week’s #2, also recently agreed to a $70 million investment from HSBC as part of a joint venture. Founded in 2009, the company raised $1.1 billion per Crunchbase.
  • Foreign deals are still dominating.
  • The payments sector continues to be hot, with specialization ‘the secret sauce.’

Next up are this week’s Top 5 VC Deals…


$240M, Capital| Equity & Debt | NYC | Payments | Victory Park Capital, Trinity Capital |

LinkedIn Overview:

“Petal’s aim is to bring financial innovation and opportunity to everyone. We use modern technology to help people build credit, avoid debt, and spend responsibly…”


$35M, Capital| Equity | Denmark | Payments | HSBC, AYTK Limited, LUN Partners Group, Fuel Venture Capital, Doha Venture Capital LLC, Notion Capital, IDC Ventures, The Private Shares Fund |

LinkedIn Overview:

Tradeshift is the cloud-based supply chain platform that transforms the way B2B buyers and suppliers connect, transact and grow. We’re a leader in e-invoicing and AP automation, offering tools for compliant e-invoicing in 50+ countries, including China…”


$24M, Series B, Capital | Equity | GA | FinTech | Blackbird Ventures, King River Capital, Spider Capital, January Capital, Summit Peak Ventures |

LinkedIn Description:

Cyble (YC W21) is a Series B-funded global cyber intelligence start-up backed by Y Combinator and reputed VC firms, including Blackbird Ventures, Spider Capital, Xoogler Ventures, Picus Capital, Singtel Innov8 and Cathexis Ventures…


$18M, Series A, Capital| Equity |VA | FinTech | Truist Ventures|

LinkedIn Description:

GoTab, Inc., a Restaurant Commerce Platform (RCP), is helping large- and mid-sized restaurants, breweries, bars, hotels and other venues run lean, profitable operations while making guests even more satisfied…”


$10M, Series A, Capital |Equity | NYC | FinTech | Nava Ventures, Plaid, Amex Ventures, Ken Chenault, Rason Robins, Jason Mikula |

LinkedIn Description:

“Knot is for when there’s knot an API – change card on file information, cancel subscriptions, change passwords, and more…”

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