Builders in Fintech — Wednesday 14 October: Causa Prima raises $20M, 3 more rounds
ID Finance's €545 million in debt and equity leads the edition, one of the largest raises by a Spanish fintech in years, aimed at making its Plazo app Spain's default consumer credit platform. Archa paired fresh equity with a debt facility to fund its own loan book. Elsewhere, Visa won Beijing's approval to prepare a domestic clearing business, Upgrade applied for its own bank charter, and India pushed its UPI merchant fee back until after Diwali.
The editor
The lead
ID Finance raises €545M in debt and equity to scale its Plazo app in Spain
Barcelona-based ID Finance has raised €545 million in a mix of debt and equity, which the company calls one of the biggest rounds by a Spanish fintech in…
A profitable Spanish consumer lender raising at this scale, with debt in the mix, gives Plazo the balance sheet to compete with banks on short-term credit and buy now, pay later.
Rounds · last 7 days: 16 · Funding Index (2026-W41): 236
Our news
Image: bloomberg.com Sprints closes its fifth fund at €725M ($810M)Sprints, the London-based growth investor, has closed its fifth fund at €725 million ($810 million), according to Bloomberg.
Image: cnbc.com Visa wins approval from the People's Bank of China to prepare a domestic card clearing businessVisa has received approval from the People's Bank of China to begin formal preparations for a domestic bank card clearing institution.
Image: techcrunch.com India delays its UPI merchant fee after pushback from retailersThe National Payments Corporation of India has postponed the 0.4% fee on eligible UPI merchant transactions above ₹2,000 (about $21) that was due to start on…
Image: americanbanker.com Upgrade applies for a Nevada industrial bank charter to launch Upgrade BankUpgrade has filed applications with the Nevada Financial Institutions Division and the FDIC to set up Upgrade Bank, a Nevada-chartered, FDIC-insured industrial…
Image: prnewswire.com Rain launches embedded stablecoin wallets at the centre of its payments platformRain has launched Rain wallets, embedded stablecoin wallets that its partners can offer inside their own apps.
Image: hercle.com Hercle registers with FINTRAC in Canada, its first regulatory footprint in the AmericasHercle, an institutional cross-border payments and treasury infrastructure provider, has completed its registration with the Financial Transactions and Reports…
The rounds
| Company | Round | Lead investor | Amount |
|---|---|---|---|
| Causa Prima source | Seed | Base10 Partners | $20M |
| ID Finance source | Debt and equity | — | €545M |
| reebuild source | Seed | Fortino Ventures | €3M |
| Archa source | Equity round and debt facility | — | AUD 61M |
Quick hits
Banking
- FR Crédit Agricole has agreed to buy all of German Mittelstand lender IKB Deutsche Industriebank from Lone Star Funds, with completion expected in the second quarter of 2027. — Crédit Agricole
Crypto
- RU Sberbank, Russia's largest bank, has joined the Bank of Russia's register of crypto exchange providers and plans to open crypto trading to all clients on 1 December. — CoinDesk
Number of the day
236
34 rounds this week · baseline 14.42
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