Top 5 VC Deals of the Week in Fintech (3/4/24)

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

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Banks are betting (on AI) …

A shift is occurring, with banks betting on startups to deliver solutions ahead of their competition. Payments, blockchain, fintech, and wealth tech startups are developing technology faster than banks- with banks very aware they must seek outside technology. A key feature: AI.

“(S)ome banks are more prepared for the AI boom than others.
The top 3 players in the CBI Retail Bank AI Readiness Index are building moats via
internal R&D, IP, and key AI hires: Capital One, JP Morgan Chase & Co., and RBC”- 2024 Tech Trends, CB Insights.

Some notable trends this week…

  • Lots of blockchain deals
  • Foreign deals are dominating
  • New VC funders making the leader board

Up next are this week’s top 5 VC deals…


1Passes

$40M, Series A, Capital| Equity | FL | Blockchain | Bond Capital, Ramtin Naimi, Michael Ovitz, Emma and Jens Grede, Alexandra Botez | https://www.passes.com/

Website Overview:

“When we launched 14 months ago, our goal was to create a meaningful income source for creators via our subscription and CRM product…”

2Avail

$27M, Seed, Capital| Equity | Modular blockchain project | Blockchain | Founders Fund, Dragonfly, SevenX Ventures, Figment Capital, Nomad Capital | https://www.availproject.org/

LinkedIn Overview:

“Avail is a modular blockchain built to scale future blockchains.

3Xcelerate

$25M, Capital | Equity| Singapore | Fintech | Federated Hermes Private Equity, Altair Capital, Exacta Capital Partners | https://xcelerateltd.com/

LinkedIn Description:

Xcelerate, a Singapore headquartered platform, is creating a Governance, Risk and Compliance (GRC) investment and operational organization to offer comprehensive GRC solutions to clients across markets with a strategy to grow both organically and through acquisitions...

4Ether.fi

$23M, Series A, Capital| Equity | Cayman Islands | Blockchain | Bullish Capital, CoinFund | https://www.ether.fi/

LinkedIn Description:

EtherFi is a decentralized non-custodial ETH staking protocol. It is the only staking protocol that allows stakers to retain control of their keys while delegating validator operations to node operators.

5Helcim

$20M, Series B, Capital |Equity | Canada | Payments | Headline, Clocktower Ventures, Vesey Ventures, SilverCircle, Information Venture Partners, Aquiline Technology Growth | https://www.helcim.com/

LinkedIn Description:

“Helcim provides Canadian & American businesses an opportunity to accept credit card payments at affordable & transparent rates…”

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