Weekly update #6

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.

While Apple is still looking for the right partner for his fintech operations, Google unveiled a stunning video of his new AI model Gemini, capable of understanding different kind of input, including visuals.

In the #Fintech market, Trade Republic was finally able to obtain a banking license in Germany, something that Revolut is trying to do in UK since a couple of years now. Speaking about Revolut, they recently launched a new branch in Italy, appointing a new country manager.

In the Italian market the promising fintech startup Cents raised €1.15 millions, and it seems to be in a very good track for the product market fit. Also Change Capital raised €2.5 millions from Banca Valsabbina using SFP. At the same time we saw Bending Spoons laying off the entire team of Filmic Inc., the video making startup recently acquired.

But let's take a closer look at the main news.

Closed deals

• BlueVoyant closed a stunning $140 millions funding round to innovate cybersecurity in Fintech;
• QuantoPay announced a $150 million funding round while attending COP28;
• Keyless spins out from Sift and close a $6 millions funding round;
• Kahuna raised $21 millions in series B funding round;
• RecargaPay closes a $14.1 millions funding round;
• January wants to get americans out of debt, and closes a $12 millions funding round;
• Canapi Ventures just raised $750 millions for a fintech focused fund;
• Scalable Capital raises $60 millions extending his series E;
• KOHO raises $86 millions, being valued almost $800 millions now;
• Wormhole closes a $225 millions funding round, with a valuation of $2.5 billions;
• Triple raises $7.5 millions seed round to transform financial data.

Strategic moves on the market

• SIGNA Group of Companies declared insolvency, in a move that could shake the entire financial system in Europe;
• Spotify lay off 17% of the workforce;
• SoFi is coming out of the crypto market, migrating all customers to Blockchain.com;
• Coinbase released a feature to offer payments through different social media platforms;
• Visa finally obtained the green light for his acquisition of Pismo for $1 billion;
• Trade Republic obtained a banking license in Germany;
• Navan cuts 5% of his staff after news of the delayed IPO;
• ZestMoney, once backed by Goldman Sachs, is shutting down all operations;
• Google presents a stunning video of his latest AI tool, Gemini;
• Revolut aim to expand in Italy, setting up a new branch and targeting 2 million users;
• Rakuten is trying to sell the majority in his digital bank, Rakuten bank.

A special look in the Italian market

• Bending Spoons lay off the entire team of Filmic Inc., startup acquired last year;
• Cents close a wonderful $1.15 millions pre-seed round;
• Change Capital raises €2.5 millions from Banca Valsabbina.

Take also a look at the last edition of the newsletter, Weekly update #5.

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.

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!

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