This week’s roundup of the Top 5 VC deals in digital wealth leaves several $100M+ deals off the list. Here we are again, with every deal in excess of $100M and three offshore.
- Our top deal this week goes to wealthtech firm DriveWealth with a whopping $450M, Series D round. The wealthtech category is really getting noticed lately in the VC world;
- NIgeria and the UK both made this week’s list with cross-border payments platforms;
- An American “next generation corporate card” company and a Brazilian lending platform for SMBs rounded out our Top 5 list.
Without further ado, here are this week’s top 5 fintech VC deals for the week below…
- Ramp | $300M, Series C | NYC-based corporate spend mgt & card platfor | Founders Fund, Redpoint Ventures, Thrive Capital, D1 Capital Partners, Spark Capital, Coatue, Iconiq, Altimeter, Stripe, Lux Capital, A* Partners, Definition Capital, Vista Public Strategies, Honeycomb, Kinetic |
LinkedIn Firm Overview: “Ramp is a technology company building the next generation corporate card to save businesses money. We’re redesigning how corporate spend should be managed from the ground up to save time, money, and ensure control. We provide companies higher card limits, insightful saving opportunities, automated expense management, lightning fast receipt matching, seamless accounting integration, and more….” - Opay | $400M, Series C | Nigerian payments platform for mobile | SoftBank Vision Fund 2, Sequoia Capital China, Meituan, Redpoint Ventures China, Source Code Capital, SoftBank Ventures Asia, 3W Capital |
LinkedIn Firm Overview: “OPay is designed to make financial services more accessible to everyday customers –– whether it’s for the bills they have to pay, or the transfer & withdrawal of money; OPay’s a platform that truly serves its users in the most convenient way.”
- Zepz (previously WorldRemit) | $292M, Series E | British cross-border payments platform | Farallon Capital, Leapfrog, TCV, Accel |
Firm Website: “Our brands offer market-leading speed and accessibility and provide a world-class customer experience. We build innovative solutions that offer choices to solve customer problems.”
- DriveWealth| $450M, Series D | NJ-based brokerage infrastructure platform | Accel, Insight Partners, Greyhound Capital, Softbank Vision Fund, Point72 Ventures |
LinkedIn Firm Overview: “DriveWealth is a financial technology firm pioneering embedded finance, fractional investing in US equities, and API-driven brokerage infrastructure. We’ve built patent-pending technology to fractionalize US equities and were the first to receive a license to do so in 2015. We help banks, fintechs, RIAs, and global brands build investing experiences in 153 countries. Some of our partners are Revolut, Hatch, MoneyLion, Stake, and Avenue.“
- Cora | $116M, Series B | Brazilian SMB lending platform | Greenoaks Capital, Tiger Global, Tencent, Kaszek, QED, Ribbit Capital |
LinkedIn Firm Overview: (translated from Spanish via Google Translate) “Made with care, respect and admiration for those who are dedicated, Cora exists to simplify the financial administration of small and medium-sized companies, so that you, self-employed or entrepreneur, can focus on what is most valuable: your time in your business.”
We’ll be back next week with more news on fintech VC funding.
