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A total of $541m was raised this week across 16 FinTech deals

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A total of $541m was raised this week across 16 FinTech deals

It was a modest week for FinTech deals this week, with a total of $541m raised across 16 deals. 

This represented a significant drop from the previous week, which saw $2.8bn raised across 17 deals. However, the lion share of the funding from that week came from the colossal $1.85bn investment secured by Ramp.

Despite the small total funding for the week, more than half was accounted for by just two deals.

The biggest deal of this week was secured by California-based infrastructure and enterprise software company Whop. It closed its Series D round at a $5.1bn valuation, coming just months after a $200m strategic investment from Tether had valued the business at $1.6bn.

Salmon, a philippine banking and lending platform, was the only other FinTech to break the $100m mark this week. The software developer netted $140m as it looks to expand its product line across the country.

The infrastructure and enterprise software was the strongest subsector of the week accounting for six of the 17 deals. These were Whop, Salmon, CapitalOS, Prism Data, ScribeUp and Vrtx.

Following behind were the RegTech and CyberTech sectors, which recorded three deals apiece. The RegTechs were Mural, Pennant and CoComply, while the CyberTechs were Opsin, Ultra Security and Asymptote Labs.

Rounding of the deals were marketplace lending and InsurTech with two deals each. The lending FinTechs were Cognitive Credit and Plinto, and the InsurTechs were Slingshot Insurance and Cachet.

The WealthTech subsector did not secure any deals this week, despite it having a very strong Q3.


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