Builders in Fintech — Wednesday 21 October: LearnVest raises $450M, 9 more rounds
Two fintech IPOs priced on opposite sides of the world and both held. Mynt, the GCash owner, listed in Manila after a $965 million offering, the largest in Philippine history, at a valuation near $7 billion, while MNT-Halan closed up 6.6% in Cairo after Egypt's biggest IPO since 2021. Tradeweb paid $1.97 billion for credit marketplace Trumid, and in the rounds Tether led $15 million into Mural, Inspired Capital closed a $450 million fourth fund and Stifel took a strategic stake in Meow.
The editor
The lead
Mynt lists in Manila after raising PHP 60.9B ($965M) in the Philippines' largest IPO, valuing the GCash owner at about $7B, and earmarks $90M for lending
What is new: Mynt lists in Manila after raising PHP 60.9B ($965M) in the Philippines' largest IPO, valuing the GCash owner at about $7B, and earmarks $90M for lending
A profitable Southeast Asian wallet can now price a $965 million IPO at home and fund its lending book from public markets, a route the region's other super apps will be measured against.
Rounds · last 7 days: 42 · Funding Index (2026-W42): 204
Our news
Image: tradeweb.com Tradeweb agrees to acquire credit trading marketplace Trumid for about $1.97B, adding dealer and buy-side protocols across the bond lifecycleTradeweb Markets has signed a definitive agreement to acquire Trumid Holdings, the electronic credit trading marketplace, for a purchase price of about $1.97…
Image: zawya.com MNT-Halan closes up 6.6% on its first day in Cairo after Egypt's biggest IPO since 2021, valuing the Egyptian business at about $770MWhat is new: MNT-Halan closes up 6.6% on its first day in Cairo after Egypt's biggest IPO since 2021, valuing the Egyptian business at about $770M
The rounds
| Company | Round | Lead investor | Amount |
|---|---|---|---|
| LearnVest source | Fund IV (final close) | — | $450M |
| Bank First source | — | — | $23.8M |
| Mural source | Series A | Tether | $15M |
| ScribeUp source | Series A | Curql Collective | $13M |
| ScribeUp source | Series A | — | $13M |
| HoneyB developer source | Seed | — | $5M |
| European Investment Bank source | Fund III (commitment) | European Investment Fund | €20M |
| Plinto source | Pre-seed | — | €2.9M |
| Rulen source | Seed | VC Partners | €1.8M |
| CoComply source | — | — | £1.9M |
Quick hits
Payments
- US Cross River's parent CRB Group agreed to acquire Accrue, a branded wallet and stored-value platform for merchant loyalty, with founder Michael Hershfield joining to build out Cross River's embedded finance stack; terms were not disclosed. — Cross River
- US Western Union selected Noah's stablecoin infrastructure to power its Receiver Redirect service, enabling stablecoin transfers in more than 60 currencies across over 200 countries and territories for its 150 million-plus customers. — Noah
- GB Checkout.com signed a global partnership with Samsung Electronics covering Galaxy Store and Samsung.com payments in the EU and North America, and will make Samsung Pay available to its merchants through Flow from 31 October. — Checkout.com
Banking
- US Mercury crossed $1 billion in annualised revenue, up around 50% year on year, with more than 450,000 customers, and is launching a payroll service, CEO Immad Akhund said on the Newcomer podcast. — Newcomer
Crypto
- CH FINMA approved the first spot bitcoin ETF for Swiss retail investors, granting an exemption from diversification rules while requiring custody safeguards and clear warnings about volatility and losses. — The Defiant
Regulation
- FR France's National Assembly adopted amendment I-3898 to the 2027 budget by 38 votes to 37, removing the tax deferral on crypto-to-stablecoin swaps so they fall under the 31.4% capital gains levy from January 2027. — CoinDesk
Number of the day
204
33 rounds this week · baseline 16.17
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