INSUBCONTINENT EXCLUSIVE:
After a sluggish couple of years, fintech appears to be making a comeback.In the first quarter of 2025, fintech startups globally raised a
The average deal size of $17.7 million also marked the highest since 2021.Notably, several crypto-related startups are among those raising
technology companies, including some in the payments, banking, and fraud prevention sectors
Here are the United States -based fintech companies that raised $50 million or more so far in 2025, according to PitchBook data:AprilPlaid,
which connects bank accounts to financial applications, sold approximately $575 million worth of common stock at a $6.1 billion post-money
Research, BlackRock, and others, in addition to existing investors NEA and Ribbit Capital
The San Francisco-based company clarified that the financing was not, in fact, a Series E round, but rather a sale of common stock, which
involves a company directly issuing new shares to raise capital
This differs from a secondary share sale, which occurs when existing shareholders sell their shares to other investors without the company
receiving any new capital.Felix, a chat-based platform that aids Latino immigrants in the United States to send money abroad, raised $75
million in a Series B round
QED Investors led the round, which also included participation from Monashees, Switch Ventures, Castle Island, HTwenty, General Catalyst
Customer Value Fund, and Endeavor Catalyst.Rain, a Los Angeles-based startup offering an employer-integrated earned wage access (EWA) app
coupled with financial wellness features like overdraft alerts and spending trends, raised $75 million in a Series B round
The round was led by Prosus at a post-money valuation of $340 million.Ethic, a New York City-based tech-enabled asset management startup,
raised $64 million in Series D funding led by State Street Global Advisors
The round was raised at a $700 million post-money valuation, according to PitchBook.Luna Technologies, a Cincinnati, Ohio-based wealth
management platform, raised $63 million in a Series C round led by Sixth Street Growth
Existing backers Bank of America, Morgan Stanley, UBS, and TD Bank Group also participated.Tapcheck, a Plano, Texas-based on-demand pay
provider, secured $225 million in funding
The raise included a $25 million extension to its Series A round that was led by PeakSpan Capital, as well as a $200 million credit facility
from Victory Park Capital.MarchMercury, a digital banking startup, raised $300 million in primary and secondary funding at a $3.5 billion
investors Spark Capital and Marathon.Mesh, a crypto payments startup, raised $82 million in a Series B round led by Paradigm with
participation from Consensys, QuantumLight, Yolo Investments, and others
The company touted that the financing was secured using PayPal USD (PYUSD) stablecoin
San Francisco-based Mesh was valued at $482 million post-money, according to PitchBook.Flex, which offers personal finance software and
payments infrastructure for business owners, raised $25 million in equity funding while securing a $200 million credit facility
participation from Companyon Ventures, Florida Funders, MS-AD Ventures, AAF Management, and First Look Partners
Victory Park Capital provided the $200 million credit facility.ONE Amazon, a Miami-based provider of crypto-powered project services
intended to transform rainforest conservation into a market-driven investment opportunity, raised $105 million
Global Edge Worldwide Fund and Gorilla Technology provided the capital, according to PitchBook.Zolve, a neobank that helps provide financial
access to high-skilled and high-spending global citizens moving to the United States , raised $251 million in a new funding round,
comprising both equity and debt, as the startup aims to expand its presence and enter new geographies
Zolve raised $51 million in equity for its Series B round, led by Creaegis, with participation from HSBC, SBI, GMO, and DG Daiwa to support
Existing investors Accel, Lightspeed Venture Partners, Sparta Group, and DST Global also participated
San Francisco-based crypto-specialist asset manager,raised $70 million in a funding round led by Electric Capital at a post-money valuation
of $670 million, according to PitchBook
Blockchain Coinvestors, Highland Capital, Khosla Ventures, MIT Investment Management Company, MassMutual, Haun Ventures, ParaFi Capital,
General Catalyst, and a group of angel investors also participated in the financing.Sardine, which describes itself as an AI risk platform
for fraud, compliance, and credit underwriting, raised a $70 million Series C funding round led by Activant Capital
NAventures also participated in the financing
The San Francisco-based startup was valued at $680 million post-money, according to PitchBook.Raise, an online gift card marketplace with an
eye toward crypto, raised $63 million
Investors included Amber Group, Anagram (Cayman Islands), BlackPine, Borderless Capital, GSR, Haun Ventures Management, Karatage, Paper
Ventures, and Pharsalus Capital, among others.Candid Health, a revenue cycle management platform for healthcare providers, raised a $52.5
million Series C led by Oak HC/FT and existing investors
Capital, BoxGroup, and Y Combinator
The Series C valued the company at $250 million post-money, according to PitchBook.JanuaryPhantom, a developer of a crypto wallet designed
for decentralized finance and non-fungible tokens, raised a $150 million Series C round of funding at a $3 billion valuation
Francisco-based card issuing and embedded payments company, raised $90 million in a Series B round of funding led by Adams Street Partners
with participation from existing investors including Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners
nonprofits, raised $70 million in a minority growth investment led by Summit Partners, with participation from existing investor Telescope
Partners.Openly, a tech-enabled home insurance services provider, raised $193 million in a growth financing round co-led by Eden Global
Partners and Allianz X, the strategic growth investments arm of Allianz
Existing backers such as Advance Venture Partners, Obvious Ventures, Clocktower Technology Ventures, and Point Judith Capital also
participate in the financing.
