Burning a hole (in VC pockets)…
As we approach the end of one of the most challenging years for funding, what remains clear is that there is STILL funding happening! While funding amounts were smaller this past week, more startups received funding than in most weeks of 2023.
There is still money out there as VCs eye the end of the year and look forward to promising startups. So, VCs, spend that $ before it burns a hole in your pocket.
Some notable trends this week:
- A busy week in deals, but smaller awards; many in single digits
- Payments and Blockchain fared well
- Foreign startups won the $$
And now, here are this week’s top 5 VC deals…
1SumUp
$306M, Capital| Equity & Debt | UK | Payments | Sixth Street Growth, Bain Capital Tech Opportunities, Fin Capital, Liquidity Group | https://www.sumup.com/en-us/
LinkedIn Overview:
“SumUp is a leading global financial technology company driven by the purpose of levelling the playing field for small businesses. Founded in 2012, SumUp is the financial partner for more than 4 million small merchants in over 36 markets worldwide, helping them start, run and grow their businesses...”
2LINE NEXT
$140M, Capital| Equity | Japan | blockchain| Crescendo Equity Partners | https://line.me/en/
LinkedIn Overview:
“LINE Corporation is based in Japan and develops and operates the LINE app for smartphones. Since launching in June 2011, the LINE app has grown into a global service used in 230 countries, ranking first in the free app category in 60 countries...“
3Andalusia Labs
$48M, Series A, Capital | Equity| UAE| Blockchain | Lightspeed Venture Partners, Mubadala Capital, Pantera Capital, Framework Ventures, Bain Capital Ventures, Digital Currency Group | https://andalusia-labs.com/
Website Description:
“Andalusia Labs is one of the most impactful teams in blockchain leveraging deep experience from building massively scalable… “
4GFO-X
$30M, Series B, Capital| Equity | UK | Blockchain | M&G Investments| https://www.gfo-x.com/
LinkedIn Description:
“The UK’s first regulated and centrally cleared trading venue dedicated to digital asset derivatives authorised and regulated by the UK Financial Conduct Authority…“
5Pivot
$21.6M, Series A, Capital |Equity | France | Payments | Visionaries, Emblem, Anamcara, Oliver Samwer | https://www.pivotapp.ai/
LinkedIn Description:
“Pivot is a consumer-grade procurement software that helps companies keep their spend under control while enhancing their teams. Native integrations with ERPs and company tools allow implementation in just a few days, without the need for an integrator…“
