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This week, we take a look at how much funding fintech startups have raised in 2024, a number of funding deals, Plaid's reported revenue growth over the past year, and more.
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big story
Global funding for fintech startups continues to decline. According to CB InsightAccording to the State of Fintech 2024 Report, fintech startups around the world raised a total of $33.7 billion last year, a 20% decrease from the previous year. The number of transactions also fell by 17% to 3,580 transactions. But there are at least some bright spots. The fintech industry's annual funding decline was the smallest in three years. In addition, funding recovered and ended the year on a strong note, reaching $8.5 billion in Q4 2024, an 11% increase compared to Q3 2024. CB Insights also reported that the median fintech deal size increased 33% annually to $4 million.
dollars and cents
RemfiThe London-based immigration financial services platform has raised $53 million in new funding, which it will use to acquire more customers and accelerate its expansion efforts into more countries. It's planned.
rechargeEurope's leading player in online prepaid payments has secured a €45 million debt facility with ABN AMRO as it looks to expand its market through a series of M&As and move towards fintech-style services.
french startup hyper line wants to build the next generation Chargebee. The company raised its first funding round of 4 million euros ($4.1 million at current exchange rates) from Index Ventures in 2023. Now, Index Ventures is doubling down on this investment, investing an additional $10 million in the startup.
benchAn accounting startup that went bankrupt over the holidays filed for bankruptcy in Canada on January 7, revealing massive debts, according to documents obtained by TechCrunch. The filings (one with Bench and one with 10Sheet, Bench's original name) show that Bench had $2.8 million in cash on hand by the end of its lifespan, but $65.4 million in cash. This indicates that they were in debt. Charles Lorre digs deep here.
More fintech IPOs?! Trading platforms Etro The company has reportedly secretly filed for an IPO in the United States that could value it at more than $5 billion. Israel-based eToro, which competes with companies like Robinhood, told TechCrunch it “does not comment on IPO rumors.”
Amazon agrees to acquire Indian buy now, pay later startup Axiois further expanding into financial services in one of the fastest growing markets.
A Swiss-based startup founded by former SoftBank veteran Akshay Naheta. Distributed Technology Research (DTR)is attempting to bridge the gap between traditional banking and blockchain technology, joining an army of companies seeking to modernize the global payments infrastructure.
Barclays' rise is It will be closed in 2025.
people move
Synterra hired its first CFO, Matias Pino.
Mark Fiorentino announces departure index ventures participate bain capital As “the newest partner charged with supporting next-generation, growth-stage, AI-native vertical SaaS and fintech startups.”
Interesting headlines
Last year was a good year for me plaid pattern. Bloomberg reported that Plaid, which provides infrastructure that connects fintechs and banks, saw its revenue soar more than 25% last year.
Cryptocurrency wallet provider phantom technologies It raised $150 million in a funding round at a valuation of $3 billion. Sequoia Capital and Paradigm co-led the round.
Thank you for reading. See you next week!
