Builders in Fintech — Wednesday 28 October: Cloud Commitments raises $5.6B, 7 more rounds
Guidewire agreed to buy hyperexponential for $1.7 billion in cash, paying to own the AI layer that prices commercial insurance risk. Wealthsimple raised up to C$425 million at a C$13.8 billion valuation, Bizcap closed a $175 million facility for North America and Hyphenate raised $45 million for autonomous finance. The Bank of England ordered a review of Revolut's product approvals, while Apple Pay and Google Pay went live in Uzbekistan.
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The lead
Guidewire agrees to acquire hyperexponential for $1.7B in cash
Guidewire has signed a definitive agreement to acquire London-based hyperexponential for a base price of $1.7 billion in cash, with up to $400 million more in…
Guidewire is paying $1.7 billion to own the underwriting AI layer it used to partner for, signalling that core-system vendors will buy agentic decision tools rather than leave them to independent startups.
Rounds · last 7 days: 43 · Funding Index (2026-W43): 228
Our news
ACI Worldwide and Circle bring USDC settlement to payments infrastructure in ColombiaACI Worldwide and Circle have announced a collaboration to show how USDC settlement can be built into existing banking and payment infrastructure, starting…
- Planet partners with YouLend to bring embedded working-capital funding to merchants across Europe
Planet, a global provider of payments and software for retail and hospitality, has partnered with embedded financing platform YouLend to give small and…
- TBC Bank Uzbekistan rolls out Apple Pay as Apple Pay and Google Pay go live in the country
TBC Bank Uzbekistan has brought Apple Pay to its customers on the day Apple Pay and Google Pay went live in Uzbekistan, 27 October.
Image: pymnts.com Mastercard and MrBeast's Beast Industries team up on co-brand creator and consumer cardsMastercard and Beast Industries, the company behind YouTube creator MrBeast, announced on 26 October a partnership to build co-brand consumer and creator card…
Image: pymnts.com Bank of England orders a review of Revolut's product approval processes, FT reportsThe Bank of England's Prudential Regulation Authority has ordered a review of how Revolut approves new products, the Financial Times reported on 27 October,…
- Bizcap closes a $175M credit facility for North American growth
Bizcap has closed a $175 million credit facility with what it calls a leading US institutional credit manager, which is not named.
The rounds
| Company | Round | Lead investor | Amount |
|---|---|---|---|
| Cloud Commitments source | Series C | Pivot Investment Partners | $5.6B |
| OriginPoint source | — | — | $200M |
| Nclude Fund source | Fund close | — | $112M |
| Hyphenate source | Series A | Nexus Venture Partners | $45M |
| Luxor source | — | — | $16M |
| Cancore source | Seed | — | $7.2M |
| Wealthsimple source | Equity round | GIC | CAD 425M |
| Ripple source | — | — | Undisclosed |
Quick hits
Other
- US Disruptive announced a $10 billion Flagship Fund, its first blind pool, to back at least 10 late-stage AI and defense companies with checks of up to $1 billion. — TechCrunch
- FR Aquiti announced the final close of its AVA1 fund at nearly €60 million to back pre-Seed and Seed founders across the Greater Southwest of France, aiming for 25 to 30 companies. — EU-Startups
Lending
- HK Riverchain, a Hong Kong working-capital fintech for construction contractors, secured a US$10 million funding commitment from dLab Asset Management to fund the receivables it originates. — PR Newswire
Crypto
- US Ripple and Robinhood partnered on RLUSD for institutional settlement, with Robinhood adopting Ripple Treasury for its own operations and Ripple Prime for financing through Bitstamp. — Ripple
Insurance
- US Archera closed a $15 million Series C led by Pivot Investment Partners, bringing total funding to $38.3 million, to expand insurance-backed guaranteed commitments on cloud and AI spend. — PR Newswire
Number of the day
228
41 rounds this week · baseline 18
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