Builders in Fintech — Tuesday 20 October: The Philippines Salmon Group raises $140M, 7 more rounds
The lead
Plata crosses $1B in annual recurring revenue less than 3.5 years after launch, with 4M customers in Mexico and profitability in sight
Plata, the Mexico City-based digital bank, said its annual recurring revenue crossed $1 billion in September, less than three and a half years after launching…
A regulated bank that writes its own core system has reached $1 billion of revenue in under four years, which resets what incumbents and challengers in Latin America are measured against.
Rounds · last 7 days: 38 · Funding Index (2026-W42): 204
Our news
Image: pymnts.com Ramp applies to the OCC for a national trust bank charter to custody digital assets, days after its $60B valuationRamp has applied to the Office of the Comptroller of the Currency to form Ramp National Trust Bank, a national trust bank that would offer fiduciary investment…
Image: coindesk.com JPMorgan deploys its JPM Coin deposit token on Ethereum mainnet for institutional clients, moving beyond Base and its private Kinexys networkJPMorgan has made JPM Coin, a token representing dollar deposits at the bank, available to institutional clients on the Ethereum mainnet.
Revolut secures a Gibraltar DLT licence for a new entity, Revolut Global Digital Assets, to take crypto trading, custody and staking beyond the UK and EEAThe Gibraltar Financial Services Commission has authorised Revolut Global Digital Assets Limited, a newly established Revolut subsidiary, to conduct…
The rounds
| Company | Round | Lead investor | Amount |
|---|---|---|---|
| The Philippines Salmon Group source | — | — | $140M |
| Meow source | Series B | — | $31.6M |
| Meow source | Series B | Stifel Financial | $31.6M |
| Opsin source | — | SYN Ventures | $21M |
| Prism Data source | Series A | Story Ventures | $20M |
| Saudi Vrtx source | Pre-seed | — | $3.6M |
| CapQuest source | Pre-seed | Oraseya Capital | $1M |
| Hyperlayer source | Series A2 | Flintlock Capital | £19.5M |
Quick hits
Banking
- US ScribeUp raised a $13 million Series A led by Curql Collective, $10 million of equity plus a $3 million venture debt facility, to embed recurring bill and subscription management inside banking apps. — Banking Dive
Payments
- SG Thunes and Coinbase partnered to connect Thunes' Direct Global Network for local payouts with Coinbase's stablecoin infrastructure, covering supplier payments, gig worker payouts and remittances. — Fintech News Singapore
- US Square consolidated its credit, debit and prepaid card programmes on Marqeta's platform, migrating the Square Credit Card on the American Express network without disrupting existing cardholders. — PYMNTS
Crypto
- US Stripe is adding euro, Brazilian real, Mexican peso and Colombian peso support to its stablecoin cards with Plasma as design partner, with a target of more than 100 countries in 2027. — Fintech News Singapore
- US Mastercard launched Stablecoin Security, an API that scores stablecoin payments for fraud, scam and sanctions risk before funds move on-chain, with Borderless.xyz and Keyrails as initial partners. — Mastercard
Number of the day
204
33 rounds this week · baseline 16.17
How the Funding Index worksFrom the podcast
TBC Group is listed in London and is a member of the FTSE 250. — Banking in Central Asia with Nika Kurdiani (Episode 53)
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