Top 5 VC Deals of the Week in Fintech (7/8/24)

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

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A Different Game

2024 is shaping up to be a positive for startups, according to data provided by CB Insights on deals for the first half of the year:

  • Venture funding climbs for a second straight quarter, reaching $65.7B, up 8% quarter-over-quarter (QoQ).
  • At $14.4M, the average deal size is up 17% this year vs. 2023
  • AI startups are dominating global funding, capturing 28% in Q2’24
  • The US is attracting significant exit activity, with exit share rising 4 percentage points QoQ to 39%
  • Fintech funding rebounds 19% QoQ to hit $8.9B— a 5-quarter high

-Courtesy CB Insights State of Venture Q2’24 Report. Download here; it’s worth the read! 

Some notable trends this week…

  • The Payments sector continues to attract traditional banking VCs
  • Fewer rounds but more significant funding
  • Domestic deals keeping up with international

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


1Ascend Money

$195M, Capital | Equity | Thailand | Payments | Mitsubishi UFJ Financial Group, Inc. (MUFG), Finnoventure Private Equity Trust I | https://www.ascendmoneygroup.com/

LinkedIn Overview:

“Ascend Money is a FinTech startup company with the mission of improving the lives of the “underbanked” population in the ASEAN region…”

2Netevia

$120M, Capital| Equity | Miami | Payments | WhiteHorse Capital | https://netevia.com/

LinkedIn Overview:

“Simplifying payments across multiple channels through a single platform of integration.”

3Simply Asset Finance

£120M, Capital| Equity | UK | Wealthtech | Bank of America | https://simply.finance/

LinkedIn Description:

Simply provides asset finance to small and medium-sized businesses to help them purchase equipment, free up working capital and invest in growth…

4Dash Technology Group

$20M, Capital | Equity| Australia | Wealthtech | Bailador Technology Investments | https://dash.com.au/

LinkedIn Description:

DASH Technology Group is the first advice technology solutions company to focus on solving problems across the end-to-end adviser experience. DASH offers highly flexible and easy to implement solutions built for a post-Covid world enabling financial advisers…

5Rainforest

$20M, Series A, Capital | Equity | Atlanta | Payments | Matrix Partners, Accel, Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, Ardent Venture Partners | https://www.rainforestpay.com/

LinkedIn Description:

“Rainforest is a Payments-as-a-Service (PaaS) provider. We help software companies build and optimize embedded financial services so that they can provide a best-in-class payments experience…

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