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Just $389m was raised across this week’s 12 FinTech deals

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Just $389m was raised across this week’s 12 FinTech deals

The summer months continue to prove a slow period for FinTech deals, with just $389m raised across 12 deals. 

It was a similar picture to last week when just $361m was raised across 16 deals. The largest deal of that week was secured by PayTech Ingenico, which pulled in €150m.

While the total capital raised was quite small this week, the size of the undisclosed funding round from Socure might have painted a different picture. The RegTech giant closed a strategic investment round that was led by Summit Partners. This round put Socure’s valuation to $5.2bn.

To give a little more context to the deal, Socure’s previous funding round was a $450m Series E, which was closed in 2021. This close had brought the RegTech’s valuation to $4.5bn and proceeded a $100m Series D in 2020.

Socure was not the only FinTeh unicorn to secure funds this week, with UAE-based Fasset hitting the $1bn valuation following the close of a $68m round.  The round was led by SBI Group and followed Fasset’s $51m Series B that closed earlier this year

Only one deal surpassed the $100m mark this week, with Alice netting $140m to enhance its offering and bolster go-to-market efforts. The company helps companies to bolster their confidence in AI.

In terms of sector, WealthTech proved to be the flavour of the week. There were five WealthTech deals to close this week, including three of the five biggest deals. The WealthTechs were RQD* Clearing, Fasset, Standard Metrics, Multiplier and Itoflow.


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