About those valuations…
In finance, determining net worth is based on numerous factors such as balance sheets, P&L statements, bank records, credit reports, etc. However, some don’t seem to use the same formulas; instead, they rely on information that isn’t always, shall we say, actual.
CB Insights tracks ‘unicorns’ valued at $1B or greater, but their tracker shows 85% of them are fake (unicorns, we assume). These are companies that chased the $1 billion valuation mark cuz it was:
-
- A status symbol
- Viewed as a way to recruit great talent
- Easy to get
Make no mistake: when the fire sale begins, it will impact deal activity.
Notable trends this week…
- A bad week for deals
- Taking more VCs to get the job done
- Foreign outpacing domestic deals
Up next are this week’s top 5 VC deals…
1Koho
$140.3M, Capital | Equity & Debt | Canada | Payments | PROPELR Growth, Rockefeller Capital, Drive Capital, TTV, BDC | https://www.koho.ca/
LinkedIn Overview:
“We want Canadians to be able to travel more, retire sooner, and live more balanced lives. With an app and a reloadable card, KOHO is a totally new approach to spending and saving…“
2Carmoola
£100 million, Capital| Equity | UK | Fintech | NatWest | https://www.carmoola.co.uk/
LinkedIn Overview:
“A game changing way to pay for your next car in minutes! Take control of your car finance through the Carmoola app...“
3Rogo
$18.5M, Series A, Capital | Equity| NYC | Fintech | Khosla Ventures, AltCapital, Original Capital, Mantis VC, AlleyCorp, BoxGroup, | https://rogo.ai/
LinkedIn Description:
“Generative AI for Finance.“
4SecondLive
$12M, Capital| Equity | UK | Blockchain | Crypto.com, Spark Digital, MetaEstate, TAISU Ventures, NewTribe Capital, BitValue Capital | https://secondlive.world/
Description courtesy of Crypto.news :
“SecondLive is a metaverse platform that lets users create their own avatars.”
5RD Technologies
$7.1M, Series A1, Capital | Equity | Hong Kong | Fintech | HongShan, Hivemind Capital, Aptos Labs, Hash Global, SNZ Capital, Solana Foundation, Anagram, Upward Capital, ZhongAn Digital Asset, HashKey Group, Dragonfly, Bright Venture, Eminent Vision | https://www.rd.group/
LinkedIn Description:
“RD Technologies deploys innovative fintech to build a business world interconnected by trust…”
