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FinTech funding tops $2.8bn as Ramp leads with $1.85bn raise

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FinTech funding tops $2.8bn as Ramp leads with $1.85bn raise

More than $2.8bn was raised across FinTech funding rounds this week, compared to $1.33bn last week, with 17 deals across artificial intelligence, payments, insurance, cybersecurity, lending and financial infrastructure.

The biggest raises came from Ramp, which secured $1.85bn at a $60bn valuation, and ID Finance, which announced a €545m equity and debt package to scale its Plazo business in Spain. Stand also raised $70m at a $1bn valuation, while Archa secured a $61m funding package.

Artificial intelligence was one of the strongest themes this week, featuring in funding for cybersecurity, commercial insurance automation, business spending analysis and real estate investing. Payments and financial infrastructure also scored investment, alongside funding for open banking, tokenised investment funds, business lending and digital banking. Cybersecurity companies Harmonic Security and Reach Security raised $50m and more than $50m respectively, reflecting continued investment in enterprise security.

The funding spanned the US, Europe and Australia, with deals across insurance, lending, payments and enterprise technology. European rounds included ID Finance’s €545m package, French software provider Wiremind’s €35m raise and Manchester-based Fruga’s £1m funding round. Australia also featured, with Archa securing $61m and Melbourne-based RedOwl raising $5.3m in seed funding led by Tidal Ventures.

PayTech dominated with five deals, including business spending, open banking, billing disputes, payments and digital banking. InsurTech followed with three deals, including funding for catastrophe-resilient home insurance, commercial insurance automation and insurance rewards. CyberTech, Marketplace Lending and Infrastructure & Enterprise Software each recorded two deals, while WealthTech, Data & Analytics and PropTech each accounted for one deal.


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