Builders in Fintech — Monday 9 November: Synctera raises $24.5M, 7 more rounds
Revolut put a number on its Latin America plan, at least $1 billion over several years, days after its $115 billion valuation, while National Bank of Canada agreed to buy Embark for about C$226 million. On the rails side, Stripe supplies the compliance layer for USDC purchases in Samsung Wallet and Coinbase now lends USDC against tokenised gold. Regulators were active too, with the OCC's AI examiner framework and Greece's crypto tax law.
The editor
The lead
Revolut commits at least $1B to Latin America, with Brazil its largest expansion market
Revolut has set aside at least $1 billion for Latin America, executives told journalists in São Paulo on 5 November.
Revolut is backing licence-led entry in Latin America with at least $1B, raising the bar for local neobanks that compete on banking licences rather than apps alone.
Rounds · last 7 days: 31 · Funding Index (2026-W45): 181
Our news
Europe's fintech Series B and C deal count drops by close to halfFewer European fintechs are closing Series B and C financings than a year ago, with the count down by nearly 50%.
Thailand's SEC targets Bitget, VCEX and Coins TH in crypto crackdownThailand's SEC is tightening its grip on crypto firms, with enforcement steps involving Bitget, VCEX and Coins TH on licensing and compliance grounds.
Banks now almost all use AI, FT Longitude, SAS and Microsoft poll showsAI has become nearly universal at financial institutions, aiding decisions in credit, treasury and enterprise risk, according to research from FT Longitude, SAS and Microsoft.
Can an AI agent use your fintech product? We checked 1,392 of themBuilders in Fintech scored 1,317 fintech products against five checks an AI agent needs to pass.
Greece approves a 10% tax on crypto gains and 15% on staking and lending incomeGreece's parliament has approved a tax framework for crypto assets: 10% on individual capital gains, with the first €500 of annual gains exempt.
OCC issues supervisory framework for examiners on banks' use of AIThe Office of the Comptroller of the Currency has issued Bulletin 2026-54, a supervisory framework that helps examiners evaluate how banks use what it calls…
Wealthsimple unveils AI assistant Penny among 12 new releasesWealthsimple unveiled Penny, an AI assistant inside its app, together with 11 other releases at its Wealthsimple Presents showcase in Toronto on 5 November.
Coinbase lets US users borrow USDC against tokenised gold PAXG through MorphoCoinbase has added PAX Gold (PAXG), a tokenised gold asset issued by Paxos, as collateral for USDC loans in Coinbase Borrow.
The rounds
| Company | Round | Lead investor | Amount |
|---|---|---|---|
| Growth source | Late-stage round | — | $650M |
| Kalepa source | Series B | Updata Partners | $75M |
| Synctera source | Growth-stage round | — | $24.5M |
| Uranium Digital source | Series A | Blockchain Capital | $16.5M |
| firmly source | Series A | Squarepoint Capital | $15M |
| Guava source | Seed | Acrew Capital | $12.5M |
| PowerUp Money source | Early-stage round | Flourish Ventures | $10M |
| Monzo source | Late-stage round | — | £7.5B |
Quick hits
Banking
- GB Starling Bank announced its first business credit card, with uncapped 1% monthly cashback, no annual or foreign exchange fees and limits of £2,000 to £100,000, offered first to selected limited companies. — Starling Bank
Payments
- IN Cashfree added WebMCP support to its hosted checkout so browser AI agents can read orders and show a UPI QR code, while the shopper approves each payment. — Cashfree Payments
Regulation
- SG MAS proposed quantum-safe migration guidance for financial institutions, with plans due from critical infrastructure owners by 30 June 2027 and all remaining systems moved by 31 December 2034. — Fintech News Singapore
Number of the day
181
30 rounds this week · baseline 16.58
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7,224 companies · 7,681 investors · 9,598 rounds. Connect via MCP.