Top 5 VC Deals of the Week in Fintech (10/31/23)

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

644

A, B, C, it’s easy as 1-2-3 …

Innovation has been fast and furious for the Fintech sector, with lots and lots of money thrown toward startups to build and scale. But now, funding appears to have turned a new direction, going to startups with a record of progress, sales, and sustainability. Welcome to series funding, where startups that have proven themselves reap the rewards…

“After decades of hypergrowth, fintechs have entered a new era of value creation, where the focus is on sustainable, profitable growth.”- Fintechs: A new paradigm of growth, McKinsey.

Some notable trends this week:

  • Blockchain and Crypto are VERY “fundable”
  • “Series” funding is in
  • Banks continue to fund what they can’t build

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


1YouTrip

$50M, Series B, Capital| Equity | Singapore |Blockchain |Lightspeed Ventures | https://www.you.co/sg/

LinkedIn Overview:

“YouTrip is a multi-currency mobile wallet with a prepaid Mastercard that enables you to shop online and offline worldwide like a true globetrotter…”

2Arteria AI

$30M, Series B, Capital| Equity | Canada | Fintech | GGV Capital, Illuminate Financial, Information Venture Partners, BDC Capital, Citi | https://www.arteria.ai/

LinkedIn Overview:

“We build data-centric end-to-end Digital Documentation powered by AI. Our award-winning platform Arteria turns your documents into data that powers your data systems and automates and accelerates documentation…

3Blockaid

$27M, Series A, Capital | Equity | NYC | Blockchain | Ribbit Capital, Variant, Cyberstarts, Sequoia Capital, Greylock Partners | https://www.blockaid.io/

LinkedIn Description:

Blockaid’s leading security tools stop malicious transactions before they happen, protecting web3 users from scams, phishing, and hacks.

4Neon Machine

$20M, Series A, Capital| Equity| Washington State | Crypto | Polychain Capital, Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, Tess Ventures | https://www.shrapnel.com/

Cointelegraph Article Description:

“What separates Shrapnel (Neon Machine is the parent company), a AAA gaming platform, is its reliance on Web3 and blockchain

5Ternary

$12M, Series A, Capital |Equity | SF | Payments | Jump Capital, Fin Capital, RiverPark Ventures, Great Oaks Venture Capital, Gaingels| https://ternary.app/

LinkedIn Description:

“Solving the cloud budget challenge by building tools at the intersection of Finance and Engineering...”

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