Builders in Fintech — Monday 12 October: Ramp raises $1.9B, 4 more rounds
Ramp's reported $1.85 billion round at a $60 billion pre-money valuation, closed four months after its last raise, leads the edition. Capital reached fintech through other channels too: DailyPay went back to the ABS market, NeoGrowth drew fresh equity from FMO and Union Square Ventures raised $900 million. Airtel Money's London debut at £5.3 billion showed public investors pricing below early expectations, while AvaTrade and Behavox bought scale and capability through acquisitions.
The editor
The lead
Ramp raises about $1.85B led by Dragoneer and Thrive Capital at a $60B pre-money valuation, Bloomberg reports
Ramp has raised about $1.85 billion in a round led by Dragoneer Investment Group and Thrive Capital, with Founders Fund also writing a large check, at a $60…
Ramp's move from $44 billion to $60 billion in four months sets the private-market benchmark that every spend-management and finance-automation company will now be priced against.
Rounds · last 7 days: 33 · Funding Index (2026-W41): 236
Our news
AvaTrade agrees to acquire the majority of FXCM Group's business and brandAvaTrade has agreed to acquire the majority of FXCM Group's business and brand rights, bringing one of retail FX's oldest brands under the AvaTrade Group.
Image: fintechnews.ch Behavox acquires Zurich-based Apiax to extend its AI controls platform into cross-border and content complianceBehavox has acquired Apiax, the Zurich-based provider of embedded compliance software that turns financial regulation into machine-readable rules applied…
Image: latamfintech.co Cocos spins out Cocos Crypto as a standalone app as it turns into a bank in ArgentinaArgentine fintech Cocos has launched Cocos Crypto as a standalone app to buy, sell, hold, send and pay with crypto.
The rounds
Quick hits
Regulation
- TH Thailand's SEC has issued rules allowing locally listed bitcoin and ether ETFs from 16 October, with each fund required to keep at least 80% average exposure to one cryptocurrency. — The Block
- GB The UK has sanctioned three crypto exchanges and two payment services it says may have helped Russia evade financial sanctions, two of them handling transactions linked to the A7 network. — CoinDesk
Banking
- KE Cloud9, a Kenyan digital bank for cross-border payments, has secured an undisclosed investment from accelerator Alliance, taking its total funding to $1 million. — Disrupt Africa
Crypto
- JP SBI Group is preparing a digital asset joint venture with crypto infrastructure provider Mesh Connect and Money Forward. — Finextra
Payments
- US WEX and Mastercard plan a single payment platform for fuel, maintenance and other fleet expenses across Asia Pacific, combining Mastercard's network with WEX's fleet management business. — Fintech News Singapore
Insurance
- GB Konsileo has secured £5 million in growth funding led by Committed Capital for its commercial insurance broking platform, which automates administration and embeds compliance. — StartupMag
Other
- US Spectrum Equity has closed Fund XI at $2.5 billion in a single oversubscribed close, its largest fund, backing software, AI and data companies with $25 million to $250 million checks. — Fund Momentum
- AU Square Peg has closed more than A$1 billion across two funds, its early-stage Fund 6 and the follow-on Opportunities Fund 3, its largest raise to date. — Fund Momentum
Number of the day
236
34 rounds this week · baseline 14.42
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