Turn it Up!
The ‘funding winter’ of 2023 is behind us, and forward-thinking suggests that 2024 will be the year to thaw out the startup funding scene. The area set to be most impacted is financial services, according to Crunchbase;
“There are three areas of meaningful investment in 2024: The next generation of fintech infrastructure, finance tech for underserved industries, and the CFO software stack.”
While great strides were made in fintech during the pandemic, the slowdown set the stage for declining funding and startup failures. Now, hit the reset button because now is the time to TURN IT UP!
Some notable trends this week:
- Foreign deals dominate
- Payments and blockchain see the $$
- Fewer investors, but bigger awards (finally)
Up next are this week’s top 5 VC deals…
1DailyPay
$175 M Capital| Equity | NYC | Payments | Carrick Capital Partners, Citi| https://www.dailypay.com/
LinkedIn Overview:
“DailyPay, Inc., powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone…”
2Pliant
$117.4M, Series A, Capital| Equity& Debt | Germany | Payments | Molten Ventures, SBI Investment, Alstin Capital, Motive Ventures, Varengold Bank | https://www.getpliant.com/en/
LinkedIn Overview:
“Pliant offers companies the digital credit card solution for maximum flexibility and savings: fully digital card and receipt management, Pliant app as well as physical and virtual cards including attractive cashback – seamless integration into existing finance and accounting software guaranteed…“
3Hashkey Group
$100M, Series A, Capital | Equity| Hong Kong | Blockchain | Undisclosed | https://support.hashkey.com/hc/en-gb
LinkedIn Description:
“Founded in 2018, HashKey Group is the leading Web3 infrastructure developer and virtual asset group in Asia. HashKey provides an ecosystem of products and services including a regulated exchange, custody solution, brokerage, venture capital, asset management and node validation services…“
4Digital Onboarding
$58M, Capital| Equity | MA | Fintech | Volition Capital | https://www.digitalonboarding.com/
LinkedIn Description:
“The Digital Onboarding adoption platform helps banks and credit unions turn account openers into engaged and profitable relationships…“
5Flowdesk
$50M, Series B, Capital |Equity | France | Blockchain | Cathay Innovation, Cathay Ledger Fund, Eurazeo, ISAI, Speedinvest, Ripple, Bpifrance | https://www.flowdesk.co/
LinkedIn Description:
“Flowdesk is a globally-based financial technology company with offices in Paris, New-York and Singapore. Founded in 2020, Flowdesk combines significant experience from traditional markets with acute knowledge of algorithmic trading and crypto…“
