Weekly update #13

Welcome to this edition of the weekly newsletter. The idea behind this activity is to gather all the information in the startup ecosystem in one place, with a special focus on the fintech market.

Recently a very interesting trend is taking place in the tech world: AI based device. The idea is pretty simple, instead of adapting current devices to new AI based feature, why don't we re-think the hardware to be build around an AI assistant?

The concept behind this idea is challenging, and it comes also from year of market with small innovation in terms of new devices. When's the last time you saw a smartphone e thought: "Wow this is really different!"

AI based devices are based exactly on this wow effect. You can think of PIN from Humane AI or R1 from rabbit inc., devices that are built around an AI assistant, that seems to challenge our idea of smartphone.

I can't think of a better example of how the startup ecosystem and the venture capital industry impacted more on the evolution of the technology, until the hands of the final users. Without push of innovation and capital to explore, new ideas like this one would have always be dreams in the drawer of founders. Now the real question is: will they be able to substitute the iPhone?

We will have to wait in order to see the answer, but in the meanwhile we saw some very interesting news in the market. Bilt Rewards raised $200 million to the crazy valuation of $3.1 billion, and the already well known VC Plural opened his second funds in two years, raising $400 million. Furthermore, the trend on AI is still strong, with the italian based Axyon AI raising a $3.9 million seed round.

But let's take a closer look at the main news of the last seven days:

Closed deals

• DailyPay, Inc. secures a $175 million funding round;
• Vertice close a stunning $25 million series B;
• Digital Onboarding, Inc. secures a $58 million investment;
• French startup Flowdesk closed a $50 million series B;
• HashKey Exchange just reached unicorn status after raising $100 million;
• FINAGG Technologies Private Limited just raised $11 million to boost the SME market in India;
• Colombian based ApproBE\_ just raised $2.3 million for his peer-to-peer lending platform;
• Qatar based KARTY raised a $2.3 million round for his digital wallet solution;
• Finance management startup Tandem - Couples App raised a $3.7 million seed round;
• Deposit management startup ModernFi raised $18.7 million;
• Ozone API secures £8.7 million in his latest funding round;
• Bilt Rewards just raised $200 million at the crazy high valuation of $3.1 billion;
• Danish fintech Safty just closed a $11.3 million funding round;
• BillingPlatform raised $90 million from FTV Capital;
• Sygnum Bank raised a stunning $40 million funding round;

Strategic moves on the market

• ZestMoney has been sold by Goldman to DMI ;
• Welsh, Carson, Anderson & Stowe acquires majority stake in the lending platform EquiLend;
• Kaspi.kz just went public on the Nasdaq, but it wasn't a great debut;
• Klarna's CEO announce an IPO could be very near for Swedish fintech giant;
• Goldman Sachs just boosted FundPark credit capabilities with a $500 million facility;
• The fintech giant Brex is once again cutting costs, laying off 20% of the staff;
• Girasol Payment Solutions acquired the Colombian based startup FinZi;
• Mondu secures $30 million to boost European expansion;
• Marstone, Inc. just closed an $8 million series B funding round;
• Alinea Invest raises $3.4 million in first seed funding round.

A special look in the Italian market

• List of most innovative fintech companies in Lombardia from EU Startup News;
• L'italiana Axyon AI chiude un round da €3.9 milioni;
• Doorway annuncia un aumento di capitale da €2.3 milioni;

Insights on the VC industry

• Plural launched the second fund in two years, raising $400 million;
• 11:FS just entered into the VC and accelerators market;
• Fasanara Capital announced the acquisition of Pollen VC;

Startups raising funds

• PopulaRise - The platform that allows companies of every dimension to promote themselves on social media through the collaboration with their clients. B2B2C SaaS. Raising $1M.
• Cents - Fintech companies that allow corporate to include charity payments on their checkout. B2B SaaS. Raising $1M. Round closed!
• Bitcoin People - Fintech company focused on crypto payments between corporate and cross countries. B2B, SaaS. Raising $500k.
• Tutornow - Edtech that provides an online tutoring platform for students with learning disorders. Raising $500k to $1M.
• Recivu - Fintech  startup trying to digitize the receipt flow by getting rid of papers. Looking for $150k in SAFE, already $50k committed.
• Weagle - B2B Tech startup that provides the very first browser designed for company, with total security for sensitive data. Raising $6 millions for their seed round.
• Reach Finance - Reach is the fintech platform for wealth accumulation for the Y&Z generations, they provide users with the tools to build wealth such as a budget tracker, a financial plan and a systematization of investments. Looking for $700k, with already $500k committed;
• wrapp.ai - A fintech startups that offers a virtual accountant and CFO that can help SMEs scale globally. Looking for $1 million, $750k already granted from public funds, looking to close the last $350k.
• Viewit - Fintech startup, providing smart solution to boost management and performances, get more financing and innovate. Raising $500k.

If you are a startup and want to be present in this list, please contact me directly.

If you are an angel investor or a VC interested in those companies, contact me for an intro!

Take also a look at the last edition of the newsletter, Weekly update #12.