Top 5 VC Deals of the Week in Fintech (5/12/24)

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

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Flat, as a pancake

VC deals are not going up or down—they are essentially flat ‘as a pancake’ month over month. Even AI isn’t pushing deal activity along as predicted within finserv (although there was a $1B deal in AI automotive/robotics this past week), as established companies add AI to their existing technologies without seeking funding. 

And let’s not mention unicorns; rumor has it they don’t like pancakes.

Some notable trends this week…

  • Funding activity picks up
  • More single than double-digit deals
  • Borders don’t define deals; foreign deals still outpace the U.S. deals

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


1Jeeves

$75M, Capital| Equity | FL | Payments | Community Investment Management | https://www.tryjeeves.com/

LinkedIn Overview:

“Finance tools for global teams – all in one place. Open multi-currency accounts, issue corporate cards, send cross-border payments, and manage expenses from one platform.

2Sophon

$60M, Capital| Equity | Blockchain layer 2 network | Blockchain | Maven 11, Paper Ventures, Spartan Group, SevenX Ventures| 

Courtesy of The Block:

“Sophon, a zkSync “hyperchain” or a Layer 2 network being built using Matter Labs’ modular, open-source framework ZK Stack, has raised around $60 million via a node sale.”

3Arbelos Markets

$28M, Seed | Equity & Debt | NYC | Crypto | Dragonfly Capital, Room40 Ventures, Selini Capital, Breed VC, FalconX, Circle Ventures, Paxos, P2 Ventures, Deribit, Chorus One, StarkWare, Immutable| https://arbelos.xyz/

LinkedIn Description:

Arbelos Markets is a trading firm providing principal liquidity across crypto derivatives markets, ranging from high-touch to programmatic…

4Daloopa

$18M, Series B | NYC | Fintech | Touring Capital, Morgan Stanley, Nexus Venture Partners | https://www.daloopa.com/

LinkedIn Description:

Use the most complete and accurate set of public company historicals to build and update your models in your preferred method and format with Daloopa… 

5Abyan Capital

$18M, Series A, Capital |Equity | Saudi Arabia | Wealthtech | STV, Wa’ed Ventures, RZM Investment | https://abyancapital.sa/

LinkedIn Description:

“Abyan is a robo advisor targeting the complete automation of investment and saving.

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