The FinTech sector experienced another red-letter week this week, with over $2.1bn raised across a healthy 25 deals.
It comes off the back of a powerful funding haul last week, where more than $1.5bn was raised, with UK-based wealth-management platform FNZ leading the way with a $650m equity raise.
This week, the top three leading rounds accounted for an eye-watering total of $1.6bn in funding. Digital asset platform Kraken bagged a huge $800m haul. Capital On Tap brought in £500m and Ramp, a financial operations platform, secured a handsome $300m primary financing raise.
The PayTech sector was the beneficiary of the strong week this week, with the industry accounting for a total of seven deals. Behind that on joint second was the CyberTech and InsurTech markets on four, RegTech on three, PropTech and WealthTech on two a piece, and Blockchain and Crypto, ESG and Financial Infrastructure on one.
Market-wise, the US once again dominated, securing a total of 18 deals. Trailing behind was the UK on 3 and Israel, Cayman Islands and Saudi Arabia on one deal a piece.
Here are this week’s deals.
Kraken secures $800m
Kraken, the globally scaled digital asset platform founded in 2011, has secured a substantial $800m raise to support its ambition of bringing traditional financial products on-chain.
The firm, which operates a vertically integrated and regulated infrastructure stack, has rapidly expanded its multi-asset ecosystem in recent months.
The company said the new funding will accelerate its strategy to bridge traditional financial services with digital and tokenised assets.
Capital on Tap closes £500m deal
Capital on Tap has announced the completion of its third asset-backed securitisation, “London Cards 3,” a £500m funding package backed by its credit card receivables.
The company said the new product was launched to secure scalable, long-term funding at a time when traditional lenders are tightening credit conditions.
This allows Capital on Tap to strengthen its support for small businesses, ensuring they can continue accessing credit despite wider market challenges.
Ramp unveils AI finance tools and bags $300m
Ramp, the financial operations platform backed by a broad range of global venture investors, has reached a valuation of $32bn following a $300m primary financing round alongside an employee tender offer.
The round was led by Lightspeed Venture Partners with participation from existing investors including Founders Fund, D1 Capital Partners, Coatue, GIC, Avenir Growth, Thrive Capital and several others.
New investors include Alpha Wave Global, Bessemer Venture Partners, Robinhood Ventures, 1789 Capital, Epicenter Capital and Coral Capital.
Federato secures $100m
Federato, the AI-native insurance software provider, has raised $100m in a Series D funding round.
The company said the latest funding underlines a growing shift in the insurance industry as firms move away from legacy “old core” systems and instead embrace platforms built with AI at their foundation.
Federato develops a full policy lifecycle platform powered by agentic AI. Its technology conducts complex analytical work and supports decision-making across underwriting processes, enabling insurers to focus on nuanced judgement and client relationships.
Doppel lands $70m
Doppel, the AI-native social engineering defence platform, has secured fresh backing as it steps up efforts to counter increasingly sophisticated cyber threats.
The company, which develops technology to identify, prevent, and respond to AI-driven social engineering attacks, has become one of the fastest-growing players in digital risk protection and human risk management.
The business has raised $70m in a Series C round led by Bessemer Venture Partners, bringing total funding to $124m and valuing the company at more than $600m.
Numeric secures $51m Series B
Numeric, the San Francisco-based AI accounting automation platform founded in 2020, has secured a $51m Series B round as it accelerates its transition from close management software into a comprehensive finance operations platform.
The funding aims to support Numeric’s expansion into a broader compound startup model, enabling it to build a unified data platform for enterprise finance teams. The raise brings the company’s total funding to $89m.
Numeric, which operates across San Francisco, New York and London, helps enterprise accounting teams reduce manual processes by automating data workflows and providing scalable, AI-powered tools.
Blackstone backs Norm Ai with fresh $50m
Norm Ai has secured a new investment of $50m from global asset manager Blackstone as it deepens its focus on AI-driven legal services.
The firm has raised $50m from Blackstone, channelled through Blackstone Innovations Investments and funds affiliated with Blackstone Growth. This additional capital reflects the expansion of an already established relationship between the two organisations.
Norm Ai provides legal and compliance automation tools used by global banks, hedge funds, insurers, and other major asset managers.
Maybern secures $50m Series B
Maybern, the New York-based operating system for private funds, which develops AI-driven infrastructure for alternative asset managers, has secured $50m in Series B funding.
The company said the fresh capital is needed to accelerate the development of its AI-powered infrastructure aimed at modernising back and middle-office processes across the booming $16trn global alternatives market.
Founded to tackle long-standing structural issues in fund management, Maybern builds infrastructure that unifies performance, investor and investment data into a single source of truth.
Maxima secures $41m
Maxima, the agentic AI platform focused on accounting automation, has raised $41m across its Seed and Series A rounds.
The investment came from Redpoint Ventures, Kleiner Perkins and Audacious Ventures, alongside participation from finance and technology leaders including former BlackLine CMO and chief strategy officer Andres Botero, former BlackLine SVP of operations Eric Borrmann, Rubrik CFO Kiran Choudary, Vanta CFO David Eckstein, and Super Bowl champion and Liquid 2 managing partner Joe Montana.
The company, which aims to redefine month-end close processes, uses AI agents to co-prepare financial reports with accounting teams to improve accuracy, consistency and auditability.
Chargeflow launches AI suite after $35m Series A
Chargeflow, the AI-powered chargeback automation platform used by more than 15,000 merchants worldwide, has secured a $35m Series A funding round, including a $10m debt facility.
The round was led by Viola Growth, with participation from existing investor OpenView Venture Partners, bringing the company’s total funding to $49m.
The funding aims to accelerate the company’s development of a complete end-to-end chargeback automation suite and to support global expansion as enterprise demand rises rapidly.
Apono raises $34m Series B
Apono has secured $34m in a Series B round led by USVP, with additional participation from Swisscom Ventures, Vertex Ventures, 33N Ventures, and existing investors.
The latest round brings the firm’s total funding to more than $54m and follows a year in which the company achieved a fourfold rise in client adoption.
The company said the new funding was driven by surging enterprise demand for dynamic, real-time permissioning as organisations face an explosion of cloud permissions.
ElectronX makes $30m raise
ElectronX, the US-regulated energy exchange created to address volatile short-term electricity price exposure, has closed a $30m Series A funding round led by returning investor DCVC.
The company said the new capital will help accelerate the roll-out of its direct-access power derivatives market as demand for electricity in the US continues to grow. The platform is scheduled to launch next month.
TMT ID raises £30m
TMT ID, a company that helps global organisations verify users and prevent fraud, has secured a £30m investment from BGF.
The funding marks a major step for the firm as it looks to scale its technology and strengthen its role in tackling cybercrime and digital identity risks.
The £30m injection comes from BGF, recognised as one of the UK and Ireland’s most active growth capital investors.
Stuut Technologies secures $29.5m raise
Stuut Technologies, the AI accounts receivable automation company, has secured $29.5m in a combined Series A round.
The investment was led by Andreessen Horowitz, with participation from Activant Capital, Khosla Ventures, 1984.vc, Page One Ventures, Vesey Ventures, Carya Venture Partners, and Valley Ventures.
Nudge Security secures $22.5m
Nudge Security, a leading innovator in SaaS and AI security governance, has secured a $22.5m Series A funding round.
The investment was led by Cerberus Ventures, with additional participation from existing backers Ballistic Ventures, Forgepoint Capital and Squadra Ventures. Alongside the new capital, Cerberus Ventures’ Morgan Mahlock will also join the company’s board.
The company said the new raise was driven by the rapid expansion of AI across enterprise SaaS ecosystems.
Modern Life secures $20m
Modern Life, an AI-powered life insurance brokerage transforming how advisors serve their clients, has raised $20m in Series A funding.
The company plans to use the new funding to accelerate the growth of its AI-driven platform, expand strategic partnerships nationwide, and continue product development.
By doing so, Modern Life aims to further simplify the advisor experience and enhance client outcomes in a $175bn U.S. life insurance market, where approximately 90% of policies are sold through advisors.
Mate raises $15.5m
Mate has officially emerged from stealth after securing a $15.5m seed investment from Team8 and Insight Partners.
The fresh capital will be used to expand its engineering organisation, deepen design-partner collaborations and prepare the company for wider enterprise deployment.
The company said the launch comes amid unprecedented pressure on security teams, who are facing rising alert volumes, greater data flows and persistent staff shortages.
Backflip secures $10m investment
Backflip, a leading real estate FinTech platform transforming how investors access and deploy capital, has announced the formation of its new tech-enabled asset manager, Backflip Asset Management.
The company, known for its vertically integrated technology and capital solutions for residential real estate investors, now holds approximately $175m in assets under management.
The development of the new subsidiary comes as Backflip responds to increased demand from institutional private credit investors, prompting the firm to evolve its model and better align technology with capital deployment.
Condukt raises $10m
Condukt, the next-generation compliance platform for financial services, has raised US$10m in a seed round led by Lightspeed Venture Partners and MMC Ventures, with additional participation from Cocoa Ventures.
The new capital will support Condukt’s mission to modernise know-your-business (KYB) processes and reposition compliance as a driver of growth, operational efficiency and trust, rather than a cost centre.
Founded in May 2023, Condukt is designed to help regulated companies manage compliance more effectively.
Ghanem secures $7.1m
Ghanem, the digital real estate platform specialising in fractional ownership solutions, has raised $7.1m from Al-Romaih Group, a Saudi investment group with experience in the real estate and financial sectors.
The funding aims to support Ghanem’s vision of enabling individuals and institutions to access real estate investment opportunities that offer transparency, flexibility and lower entry points for a wide range of investors.
The company operates under the Regulatory Sandbox of the Real Estate General Authority (REGA), which it states strengthens investor confidence and reflects its commitment to regulatory standards.
InsurTech Pibit AI bags $7m
InsurTech startup Pibit AI, which builds AI-powered underwriting technology for insurers, has secured $7m in fresh funding as it looks to accelerate development of its platform and expand its team.
The funding round was led by Stellaris Venture Partners, with returning investors Y Combinator and Arali Ventures also participating, according to beinsure.
The latest injection brings Pibit AI’s total capital raised to $7.5m across two rounds, according to the company.
Thrivory launches ThriveNow API after $3.5m raise
Thrivory, a healthcare AI specialist focused on eliminating reimbursement delays, has announced a combined $3.5m equity raise and access to up to $25m in credit as it scales its real-time payment technology for medical providers.
Thrivory’s funding round was led by Redesign Health, with a scalable accordion credit facility anchored by Trinity Capital.
The company introduced its new ThriveNow API in response to widespread cash-flow constraints faced by healthcare providers, who often wait months to receive insurer reimbursement.
Deduction’s Taylor, CPAI debuts with $2.8m funding
Deduction, a US-based FinTech specialising in AI-driven tax automation and human-CPA-supported services, has launched “Taylor, CPAI,” which it describes as the first AI tax accountant designed specifically for consumers.
The company has emerged from stealth alongside a $2.8m pre-seed funding round led by One Way Ventures and Creator Ventures, with participation from Alpine VC, Intuition, Charley Moore of Rocket Lawyer, and angel investors from OpenAI and Robinhood.
Sencillo secures £350k
Sencillo, the FinTech start-up focused on modernising education financing for families, has raised over £350,000 in a pre-seed funding round.
The round was led by Fuel Ventures and supported by a group of strategic angel investors and senior industry executives.
The new product has been introduced in response to rising education costs across the UK, with families now spending significant sums each year on early years childcare, private schooling and university education.
Tether backs Ledn with strategic investment
Ledn, a global digital asset-backed lending platform, has received a strategic investment from Tether, one of the world’s largest digital asset company and issuer of USDT.
The company said the reason for securing new funding, despite Ledn being profitable, is to align itself more closely with a strategic partner whose success is intertwined with that of its clients. The goal is to pair USDT with Ledn’s established position in digital asset-backed lending.
Ledn provides a suite of digital asset-backed financial services, offering lending solutions and interest-earning products to clients across multiple markets.
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