MoneyLion to Acquire Even Financial For $440M

Digital finance platform MoneyLion Inc. (NYSE: ML) is set to acquire embedded finance marketplace Even Financial Inc., its third acquisition this year after content studio Malka Media Group and algorithmic financial planning fintech startup WealthTech. The acquisition is expected to accelerate MoneyLion’s mission of providing financial access and advice to its clients.

The deal is expected to result in a total consideration to Even’s equity holders of up to $440 million, using a convertible financing structure that values MoneyLion at its initial public listing price of $10 per share. Even Financial has raised a total funding of $67 million till date from marquee investors including Goldman Sachs, American Express Ventures, Citi Ventures, F-Prime Capital, MassMutual Ventures, LendingClub, Canaan Partners, GreatPoint Ventures and AAF Management.

Founded in 2014 by Ian Rosen, Jarid Maged and Phill Rosen, New York based Even Financial is a search, comparison and recommendation engine for financial services.

Founded in 2013 by Chee Mun Foong, Diwakar Choubey and Pratyush Tiwari, MoneyLion is a digital finance platform for borrowing, saving, and investing.

Regtech Startup Incode Enters Unicorn Club With $220M Series B Funding Round

Identity verification startup Incode Technologies has raised $220 million in Series B funding round just seven months after a $25 million Series A round. The current round valued Incode at over $1 billion earning it the unicorn status. The regtech startup has raised over $255 million equity funding since inception. The Series B round was led by Softbank and General Atlantic and also witnessed participation from J.P. Morgan, Capital One Ventures, Coinbase Ventures, Silicon Valley CISO Investments as well as existing investors DN Capital, 3L Capital, Framework Ventures and DILA Capital.

Founded in 2015 by Ricardo Amper, San Francisco based Incode is a digital identity company that builds secure, omnichannel biometric identity products for frictionless banking, payment, hospitality and retail experiences.

Slice Turns India’s 41st Unicorn With $220M Series B Funding

Bengaluru based payment-tech Slice raised $220 million Series B funding round led by Tiger Global and Insight Partners at an estimated valuation of ~1 billion, making the fintech startup India’s latest unicorn. The round also witnessed participation from new investors Sunley House Capital, Moore Strategic Ventures, Anfa, as well as existing investors Gunosy, Blume Ventures and 8i Ventures. The startup has raised a total funding of $291 million till date.

Founded in 2016 by Deepak Malhotra and Rajan Bajaj, Slice offers payment cards with a focus on Gen Z and Millennials, and enables them to pay bills, manage expenses and unlock instant rewards.

Payhawk Raises $112M In Series B Funding Round Led By Greenoaks

London based B2B fintech startup Payhawk has raised $112 million in Series B funding round at an estimated valuation of $570 million. The round was led by San Francisco-based Greenoaks Capital, along with participation from existing investors including Earlybird Digital East, QED Investors and Eleven Ventures. The startup had raised a $20 million Series A round led by QED Investors earlier this year.

Founded in 2018 by Boyko Karadzhov, Hristo Borisov and Konstantin Dzhengozov, Payhawk is a financial system that combines credit cards, payments, expenses, and cash into one integrated platform, enabling financial officers and business owners to manage the entire spending lifecycle end-to-end.

Digital Asset Exchange Gemini Raises $400M Led By Morgan Creek

New York based cryptocurrency startup Gemini has raised $400 million in its first external funding round led by Morgan Creek Digital, a hedge fund backed by Morgan Creek Capital Management. The round also witnessed participation from ParaFi Capital, 10T Holdings, Newflow Partners, United Talent Agency, Jane Street Capital, K5 Global, Pantera Capital, Marcy Venture Partners, VanEck, BoostVC and WndrCo.

Founded in 2014 by brothers Tyler and Cameron Winklevoss, Gemini is a next-generation cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets.

Alt Raises $75M Series B Led By Spearhead

San Francisco based alternative asset platform Alt has raised $75 million in Series B funding round led by the angel group Spearhead. The round also witnessed participation from Seven Seven Six, Vibe Capital, Breyer Capital, Shrug Capital, Apollo Projects, Hyperguap, A* and a few angel investors.

Founded in 2020 by Leore Avidar, Alt is an alternative asset platform that allows individuals to buy, sell, and store sports cards. The current funding will help the fintech startup increase the scope of its alternative assets and expand its talent base.

South African Fintech JUMO Raises $120M Round Led By Fidelity

Cape Town based fintech startup JUMO has raised $120 million in a funding round led by Fidelity, bringing the total amount of (equity + debt) funding to over $260 million since inception. The round also witnessed participation from Visa and Kingsway Capital. Existing investors in the company who participated in previous funding rounds include Leapfrog, Goldman Sachs, Finnfund and Proparco.

Founded in 2015 by Andrew Watkins-Ball, JUMO is a Banking as a Service platform that uses AI to power financial services in emerging markets, and offers savings and credit products to entrepreneurs in emerging markets, as well as financial services infrastructure to partners such as eMoney operators, mobile fintech platforms and banks. 

Philippines Fintech Mynt Raises $300M At $2B Valuation

Mynt, Taguig based digital financial solutions provider and Philippines’ only unicorn, has raised over $300 million in funding, valuing the fintech at over $2 billion. The funding round was led by Warburg PincusInsight Partners and Bow Wave Capital Management. Mynt has raised $475 million funding till date and is partly owned by Globe Telecom, Ayala Corporation and Ant Financial.

Mynt, a wholly-owned subsidiary of Globe Telecom, provides financial services that include payments, remittances, loans, business solutions, and platforms. The fintech startup operates the popular mobile wallet service GCash in Philippines.

Indian Fintech Groww Grows Its Valuation To $3B In $251M Series E Funding Round

Bengaluru based fintech startup Groww has raised $251 million in Series E funding round led by Iconiq Growth, at a valuation of ~$3 billion, approximately tripling its valuation since it last closed Series D in April this year. The funding round also witnessed participation from Alkeon Capital, Lone Pine Capital and Steadfast Capital as well as existing investors Sequoia Capital India, Ribbit Capital, Y Combinator Continuity Fund, Tiger Global Management and Propel Venture Partners. The four year old startup has raised over $390 million till date.

Founded in 2017 by Harsh Jain, Ishan Bansal, Lalit Keshre and Neeraj Singh, Groww provides an investment platform that offers a new way of investing money with stockbroking and direct mutual funds.

Tiger Global Leads $298M Funding Round in TradingView

London based charting platform and social network for traders and investors TradingView has raised $298 million in a funding round led by Tiger Global Management at an estimated valuation of ~3 billion. The funding will fuel the startup’s plans to grow its brand globally and expand its offering by partnering and integrating its platform with brokerage houses. The fintech has raised over $338 million till date from DRW Venture Capital, Jump Capital, Insight Partners, iTech Capital, Techstars and a few angel investors.

Founded in 2011 by Constantine Ivanov, Denis Globa and Stan Bokov, TradingView is a financial information platform that provides traders and investors with charts, tools and social networking.

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