Mount Rainier, Washington
Hello Fintech Friends,
Today’s newsletter is brought to you by our friends at Visa.
I enjoyed sitting down with Adyen and their customer Jackrabbit Pay this week to talk about how Jackrabbit uses Adyen's embedded finance products to help out their own customers, mostly local performance and fitness businesses.
The conversation follows a recent Boston Consulting Group and Adyen study that shows that 80% of the massive $185 billion embedded finance market still remains untapped, especially for small businesses.
Over the past two years, the industry has grown 25%, allowing customers to tap products like business loans (for their own end users) from new sources outside of banks.
By the way, for those of you at Money2020, we'll be co-hosting our annual kickoff party with Adyen this year! 🙌
Hope to see you there.
- Nik
Please find another week of fintech financing events below.
Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm
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News coverage written and provided by Rachel Chang.
Stat of the Week
Fintech companies raising Series A funding in the past 24 months had $4M in median annual revenue, up from just $1M four years ago.
Venture Financing
Tempo raised $500 million in Series A, valuing the payments-focused blockchain developed by Stripe and Paradigm at $5 billion for stablecoin payments.
Plataraised$250 million as it moves to become a fully licensed bank to democratize financial services for Mexico’s underbanked population, with a valuation at $3.1 billion.
Moniepointraised $200 million in Series C to strengthen its merchant-banking platform and push cross-border expansion in Africa.
CurbWasteraised $28 million in Series B to scale a vertical SaaS and embedded payments platform used by independent and national waste haulers across the U.S.
GradBridge raised $20 million in Series A from Acorn Investment Partners to expand its platform for second-look private student lending.
Kardraised$15 million to support expansion of its API-first rewards infrastructure for banks, fintechs, and loyalty programs.
Brico raised $13.5 million in Series A to grow its AI-powered platform automating state and federal licensing for financial institutions.
Cybridraised $10 million in Series A to scale stablecoin and fiat payments infrastructure for financial institutions, remittance providers, and B2B payment firms in the U.S. and Canada.
TabSenseraised $5 million to develop its AI agentic point-of-sale platform for restaurants and cafés to scale efficiently.
Quiltt raised $2.6 million to simplify open banking integrations for fintechs and financial institutions through its unified API platform.
Piere raised $2.1 million in pre-seed to build its AI-powered platform that creates and automatically executes highly personalized financial plans for consumers.
Lette AIraised $1.4 million in pre-seed to modernize property management operations with its agentic AI operating system.
Debt Financing
Tensecraised a $60 million credit facility to support higher transaction volumes and expand wallet share for its cross-border payments and financial tools.
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