The FinTech sector had another good week for deals, with a total of $1.9bn raised across 20 deals.Â
This marked a slight decline on the total funding compared to last week, which saw a total of $2.2bn raised. However, deal activity increased, with five more deals completed this week.
Similar to last week’s colossal $1.5bn raise by UK-based Propel Finance, this week also featured a sizable funding round. WealthTech company iCapital raised an impressive $820m in a funding round that brings its valuation to over $7.5bn. The deal, which was co-led by T. Rowe Price and SurgoCap Partners, is aimed at helping the company bolster its global acquisition strategy, drive geographic expansion and support innovation. iCapital provides technology, data infrastructure, and end-to-end enterprise solutions that power investing at scale, suporting financial advisors, wealth managers, and asset managers.
There were four other deals to exceed $100m, this week. The second biggest FinTech funding round was secured by CyberTech platform Cato Networks. The company has secured $359m in a Series G round led by Vitruvian Partners and ION Crossover Partners.
It was followed by PropTech Bilt, which raised $250m in new primary funding, valuing it at $10.75bn. Bilt began as a service allowing renters to earn rewards on rent payments, but has evolved into a comprehensive platform that connects residents with local merchants and neighbourhood services.
German InsurTech giant wefox was also part of the $100m+ club, securing €151m ($176.6m) in a funding round to bolster its position in the European market. The funding includes a €76m capital raise from existing investors and €75m in refinancing from Searchlight Capital Partners’ credit fund.
The final company in this group was re:cap, a German FinTech which provides a capital operating system for the digital economy. It raised €125m ($146.2m) and will support its recent launch into the UK market.
In terms of the sectors, InsurTech and WealthTech proved the most popular, with each recording five deals.
The five InsurTech companies were wefox, INSHUR, Wrisk, RoofMarketplace and Stitch Studio, while the WealthTechs were iCapital, Moment, RedCloud, BridgePort and Tarmeez.
Following behind was PayTech and CyberTech with three deals apiece. Two, MWBS and Cariqa were the PayTechs and Cato Networks, AirMDR and RevEng.ai were the CyberTechs.
The other sectors represented this week were PropTech (Bilt), marketplace lending (re:cap), infrastructure and enterprise software (Gradient Labs) and RegTech (Castellum.AI).
A recent report from FinTech Global found that European WealthTech is had a strong Q2. Funding rebounded by two thirds QoQ, powered by a 3.7x surge in deals over $100m. During the second quarter of 2025, a total of $700m was invested across 35 deals, compared to the previous quarter which saw $418m raised through 24 deals.
While funding is up QoQ, it was a significant drop from the funding raised in Q2 2024. Funding was down down 53% from the $1.5bn raised in Q2.Â
As for the countries, the US was home to the lion share. The country was home nine of the deals this week. These were iCapital, Bilt, Moment, INSHUR, AirMDR, Castellum.AI, RoofMarketplace, BridegePort and Stitch Studio.
The UK was close behind with five deals; Wrisk, RedCloud, Gradient Labs, MWBS and RevEng.ai. While Germany was the only other country to record multiple deals (wefox. re:cap and Cariqa). The other countries represented this week were Israel (Cato Networks), Norway (Two) and Saudi Arabia (Tarmeez).
A recent report from FinTech Global found that the UK, France and Germany lead FinTech deal activity in 2024. The UK led the region with 466 deals, followed by France with 180 and then Germany with 158.
Here are the 20 FinTech deals covered on FinTech Global this week.
FinTech giant iCapital raises $820m for global growth
iCapital, a global FinTech company shaping the future of investing, has secured over $820m in its latest funding round, boosting its valuation to over $7.5bn.
The round was co-led by T. Rowe Price and SurgoCap Partners, with participation from State Street and additional commitments from existing investors Temasek, UBS, and BNY.
Founded in 2013, iCapital provides technology, data infrastructure, and end-to-end enterprise solutions that power investing at scale, enabling financial advisors, wealth managers, and asset managers to access and manage alternative investments, structured products and annuities alongside traditional investments on a unified platform.
The fresh capital will be used to accelerate iCapital’s global acquisition strategy, drive geographic expansion and support technology innovation across its services.
Since launch, iCapital has invested over $700m into its platform and completed 23 strategic acquisitions, including Mirador, AltExchange, and Parallel Markets, as it expanded to 1,875 employees across 16 offices worldwide. It supports more than 750 product providers and over 3,000 wealth management firms, with platform growth including 2,100 funds and 114,000 active financial professionals.
Goldman Sachs acted as financial advisor and placement agent, with Ropes & Gray as legal advisors to the transaction.
Cato Networks raises $359m to expand secure cloud platform
Cato Networks, a leading secure access service edge provider, has raised fresh capital to advance its position in the cybersecurity market. The company, recognised for redefining enterprise security, continues to push boundaries in AI-powered networking.
The company has secured $359m in a Series G round led by Vitruvian Partners and ION Crossover Partners. Existing backers Lightspeed Venture Partners, Acrew Capital and Adams Street Partners also participated. The new round lifts Cato’s total funding to over $1bn and values the business at more than $4.8bn.
Cato Networks is known for pioneering SASE—a cloud-native platform that merges security and networking. Since introducing the concept in 2015, the company has been at the forefront of transforming how enterprises manage and protect their digital operations, especially in the age of AI.
The latest funds will help Cato Networks strengthen its AI security capabilities, ramp up research and development, and expand globally. Key areas of focus include enhancing tools for digital experience monitoring, LAN security, IoT/OT protection, SD-WAN, SSE, XDR, and zero trust network access—all built natively into its single platform.
Cato said it plans to grow its global partner ecosystem and customer teams to meet the rising demand for unified security and networking solutions. The company believes its platform, which replaces fragmented legacy infrastructure, gives organisations a more agile and resilient way to protect data and operations.
Bilt bags $250m to grow housing and commerce network
Bilt, a housing and neighbourhood commerce FinTech platform, has secured a fresh funding round as it looks to deepen its position in the market.
The company has raised $250m in new primary funding, valuing it at $10.75bn. The round was led by General Catalyst and GID, with further investment from United Wholesale Mortgage.
Bilt began as a service allowing renters to earn rewards on rent payments, but has evolved into a comprehensive platform that connects residents with local merchants and neighbourhood services. The company’s network now includes one in four apartment buildings in the United States and has partnered with over 40,000 merchants nationwide.
The new capital will be used to accelerate Bilt’s expansion plans, including scaling its neighbourhood commerce services, expanding its network of merchants, and investing in its AI-powered neighbourhood concierge that connects residents with personalised local offers. The company aims to process over $100bn annually in housing spend by the end of the year, drive over $10bn in annual neighbourhood merchant transactions, and cross $1bn in revenue by Q1 2026.
Bilt is also preparing to launch Bilt Card 2.0, developed in partnership with Cardless, offering three card options including a no-fee option and premium cards with annual fees of $95 and $495. The new card lineup, set for launch in February 2026, will transition current cardholders from Wells Fargo to the new issuing partner, with enhanced rewards including points on rent and mortgage payments.
InsurTech wefox secures €151m ($176.6m) to boost MGA expansion
Wefox, an InsurTech specialising in smart insurance distribution and MGA services, has raised €151m to support its new growth strategy.
The funding includes a €76m capital raise from existing investors and €75m in refinancing from Searchlight Capital Partners’ credit fund.
Wefox provides technology-driven insurance distribution, working with brokers and insurers to deliver digital MGA services and retail insurance under brands like TAF in the Netherlands.
The fresh funding will help wefox strengthen its positions in Austria, the Netherlands and Switzerland, and expand its MGA and smart insurance distribution internationally.
The company has also reshaped its board following the refinancing, with Searchlight partner Prateek Puri and wefox CEO Joachim Müller joining, while Julian Teicke, Fabian Wesemann, Dario Fazlic and Nikolaus Frei have stepped down.
FinTech re:cap lands €125m ($146.2m) to scale UK expansion
Berlin-based FinTech re:cap, which provides a capital operating system for the digital economy, has announced its official expansion into the UK as it looks to scale its flexible funding and capital planning platform for tech companies.
The company has secured a €125m credit facility for onward lending, backed by HSBC Innovation Banking UK and Avellinia Capital.
The new facility aims to support re:cap’s further international expansion.
Founded in 2021, re:cap enables high-growth companies to secure non-dilutive capital and manage liquidity, forecasting and debt financing through its platform, which integrates flexible debt, real-time liquidity management and capital planning tools.
The expansion into the UK marks a pivotal step for re:cap as the country represents the world’s second-largest tech funding market, it said.
Fixed-income FinTech Moment secures $36m Series B
Moment, a FinTech firm founded by former Citadel Securities and Jane Street quants, is focused on automating trading and portfolio management workflows for fixed income teams across financial institutions.
The company has secured $36m in a Series B funding round led by Index Ventures, with participation from Andreessen Horowitz, Lightspeed Venture Partners, Venrock, Neo and Contrary Capital.
Moment specialises in unifying trading, research, portfolio optimisation, reporting and compliance monitoring into a single platform, enhancing the efficiency of fixed income teams within financial institutions through automation.
With the new funds, Moment plans to accelerate its growth, enhance its partnerships with financial institutions, and invest further in research and development while expanding its team in New York City.
Moment’s platform allows institutions to execute thousands of trades within seconds using automated execution rules, optimise tax-sensitive portfolios across large account volumes, and utilise AI-powered workflows to generate portfolios and client reports rapidly. By embedding engineers with major clients, the company co-develops transformation roadmaps while delivering practical solutions in production.
The company recently announced a strategic partnership with LPL Financial, the largest independent broker-dealer in the US with over $2tn in assets under management.
INSHUR raises $35m to drive US and AV insurance growth
INSHUR has raised $35m from Trinity Capital to drive its US expansion and strengthen its position in autonomous vehicle insurance.
The funding aims to fast-track INSHUR’s profitability while supporting capacity insurers, platform partners, and drivers within the on-demand economy.
The InsurTech will invest the capital in R&D to advance AI technologies for underwriting and real-time pricing, which are crucial for on-demand and autonomous vehicle policies.
INSHUR is also scaling its services for platforms like Uber and car rental businesses. Initiatives such as its ‘Period Z’ programme for rental fleets and its participation in Uber’s ‘Bring Your Own Insurance’ scheme are designed to help drivers maintain flexibility and control over their earnings.
InsurTech Wrisk raises £12m ($16.2m) for Europe growth
Wrisk, an InsurTech focused on embedded automotive insurance, has raised £12m in a Series B round to accelerate its European growth.
The round was co-led by Mundi Ventures and Opera Tech Ventures, the venture arm of BNP Paribas. Existing investors QBN and Volution also took part.
Wrisk offers a data-driven platform for automotive brands to deliver embedded, branded insurance throughout the ownership journey, covering quoting, renewal and claims within a digital experience.
The new funding will support Wrisk’s European expansion, with the company building its team in Munich and using its regulatory licences to grow in the region and help UK partners scale.
The company already supports brands like BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover and Stellantis, reporting triple-digit revenue growth in 2024 and over 100,000 policies written.
Wrisk uses real-time data to improve pricing, claims and customer engagement for automotive clients, backed by its proprietary embedded data framework that integrates connected car systems and telematics.
Cybersecurity firm AirMDR bags $15.5m seed funding
AirMDR, an AI-native Managed Detection and Response (MDR) company, is aiming to bring enterprise-grade cybersecurity to small and medium-sized businesses at an affordable price.
The firm has raised $15.5m in seed funding led by Race Capital, with participation from Foundation Capital and Storm Ventures. The total includes a new $10.5m investment added to its earlier $5m seed round.
AirMDR uses an AI SOC platform that handles most tasks typically managed by human analysts, including triage and response, while maintaining oversight by a 24/7 human analyst team.
The new funding will help AirMDR scale its sales and marketing efforts and invest further in the development of its AI SOC technology to meet growing demand from enterprises and managed security providers
B2B FinTech Two lands €13m ($15.2m) to scale payments platform
Two, a leading European B2B payments platform, has secured €13m in fresh funding, with the round led by Idékapital and Shine Capital.
The raise also saw participation from new investor Investinor, alongside existing backers Antler, Sequoia Capital, Alliance Ventures, Arkwright and Local Globe.
Founded in 2021, Two provides a fully productised B2B payments infrastructure, offering instant upfront payments to sellers, flexible net terms for buyers, and AI-powered fraud prevention. Its platform includes proprietary risk engines, Frida and Delphi, and an end-to-end onboarding solution, serving over 200 merchants across the Nordics and Europe.
The new funding will support Two’s expansion into the US and Western Europe while enhancing its payment infrastructure. Within three months of its US launch, the region already accounts for over 20% of the company’s revenue.
Two has been riding a wave of momentum, with revenue and payment volume expected to increase by over 150% year-over-year in 2025. It has formed partnerships with Visa, ABN AMRO, Qliro, Avarda and Wikinggruppen.
FinTech RedCloud secures $13.5m in private placement
RedCloud, a FinTech company that operates a B2B trading platform for fast-moving consumer goods, has announced it has entered into a securities purchase agreement with institutional and accredited investors.
The agreement will see RedCloud raise around $13.5m in gross proceeds before fees, with the company’s largest current shareholder and one of its directors investing $7.5m in the round.
Roth Capital Partners acted as the exclusive placement agent, while Clear Street served as financial advisor on the transaction.
RedCloud’s platform is designed to solve the persistent challenge of unlocking and enabling access to key purchase and sales data between brands, distributors and retailers across high-growth consumer markets.
The company uses artificial intelligence to help retailers make faster and more informed B2B purchasing and inventory decisions, streamlining the complexity of managing large product catalogues.
The private placement includes the issuance of 9,000,000 ordinary shares and accompanying warrants to purchase an additional 18,000,000 shares, with a combined purchase price of $1.50 per share and accompanying warrants.
FinTech Gradient Labs raises $13m to expand AI platform
Gradient Labs, an AI platform focused on financial services, has raised $13m in a Series A funding round to accelerate its mission to transform customer operations within the financial sector.
The investment round was led by Redpoint Ventures, with additional backing from Exceptional Capital, Liquid 2, LocalGlobe, Puzzle Ventures and a group of angel investors.
The company has developed the first compliant AI platform designed specifically for the financial services industry, focusing on automating customer support and operational processes across payments, lending, insurance, and wealth management.
Gradient Labs plans to use the fresh capital to support its expansion into the US.
Since its launch in November 2024, Gradient Labs has onboarded FinTech firms across Europe, including Plum, Zego, Lendable, Yonder, Nala, and Sling. It has also partnered with one of the largest regulated banks in the UK, marking the first live deployment of an autonomous AI customer support agent within a major regulated bank, it said.
MWBS raises £9m ($12.1m) to grow UK merchant payment software
Modern World Business Solutions, an award-winning FinTech innovator in the UK’s merchant services and payments software sector, has secured £9m in growth funding to drive the next phase of its expansion.
The funding has been raised from undisclosed investors and will enable the company to increase its team from 60 to more than 200 employees over the next 18 months while expanding into underserved areas of the merchant services and software market.
Modern World Business Solutions, known for its acquirer-agnostic and brand-neutral model, simplifies the way UK businesses access and manage card payment solutions. The company’s approach allows SMEs and growing enterprises to compare, customise and deploy the most suitable payment solutions without being tied to a single acquirer, processor or hardware provider, ensuring merchants receive payment systems tailored to their specific needs.
The fresh funding will support rapid hiring across sales, development, customer success, and compliance functions. It will also be used to enhance MWBS’s infrastructure for onboarding, merchant switching, and delivering real-time transaction insights, while deepening market reach in the hospitality, retail, professional services, and e-commerce sectors.
The company’s platform enables businesses to easily compare merchant service offers, transaction rates, hardware, and settlement timelines, promoting transparency and cost efficiency. This expansion aligns with rising demand for independent and comparable payment services, driven in part by regulatory changes from the Payment Systems Regulator that have made it easier for businesses to switch providers.
In recent years, Modern World Business Solutions has received multiple industry awards for its commitment to technology innovation and scalable FinTech solutions designed to support business growth.
Castellum.AI secures $8.5m to expand AML platform
Castellum.AI, a FinTech firm specialising in AI-powered financial crime compliance, has raised $8.5m in a Series A round.
The round was led by Curql, which is backed by credit unions including Navy Federal, with participation from BTech Consortium and Framework Venture Partners, alongside existing investors Spider Capital, Remarkable Ventures and Cameron Ventures.
The company offers a compliance platform that integrates in-house risk data with AML and KYC screening, using AI agents to reduce false positives and review times for financial institutions.
With the new funding, Castellum.AI plans to deepen integrations with banks, credit unions and digital asset exchanges, providing tools that speed up compliance checks while maintaining regulatory oversight.
The company shared that its AI agents have passed CAMS practice exams and are being positioned to meet certification standards. Castellum.AI also helps reduce switching costs for clients by layering its AI agents onto existing systems.
InsurTech RoofMarketplace raises $7m for growth
EV payments platform Cariqa secures €4m ($4.6m) seed funding
Cariqa, a Berlin-based platform for electric vehicle (EV) charging payments and pricing, has raised €4m in seed funding.
The round was co-led by Contrarian Ventures and Anthemis Group, with participation from Anthemis Group Female Innovators Lab, Earth, Golden Egg Check, and Techstars.
Cariqa is focused on addressing inefficiencies in Europe’s EV charging market, which faces challenges due to fragmented payment systems, opaque pricing, and excessive intermediaries.
The company provides an end-to-end billing and pricing platform designed for charge point operators, enabling consistent, transparent pricing and reducing operational costs across customer channels.
The company plans to use the new capital to further develop its infrastructure-first platform and scale its reach across Europe and into other markets.
RevEng.ai secures $4.15m to boost software security
RevEng.ai, a cutting-edge start-up, is building foundational AI models to detect security threats and hidden vulnerabilities in software supply chains.
The company has confirmed a $4.15m seed funding round led by Sands Capital, with additional backing from In-Q-Tel Capital, IQ Capital and Episode 1.
RevEng.ai develops AI-driven tools that help organisations detect unsafe code embedded deep within the software they use, all without needing access to the original source code.
With fresh capital in hand, the company plans to speed up development of its proprietary AI models, expand its team, and grow its presence in the U.S. to tackle the rising costs of cybercrime and ransomware attacks.
RevEng.ai highlighted that today, nearly half of organisations are likely to experience a software supply chain attack, driven by AI-generated code, open-source dependencies, and opaque third-party software components. Its AI Binary Analysis Platform is designed to analyse and deconstruct any piece of software automatically, exposing hidden backdoors, malicious code or zero-day vulnerabilities to keep supply chains secure and compliant.
BridgePort lands $3.2m for seed round
BridgePort, a digital asset company specialising in off-exchange settlement middleware, has raised fresh capital to expand its operations.
The company has secured $3.2m in seed funding in a round led by Further Ventures, with additional backing from Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures.
BridgePort provides a secure, agnostic middleware platform that connects exchanges, custodians, and trading firms, helping institutions to improve capital allocation and post-trade processes. Its system removes the need for prefunding and reduces credit and settlement risk by using real-time messaging and coordinated collateral management. The setup aims to boost capital efficiency while ensuring interoperability across institutional digital asset markets.
The new funds will be used to accelerate platform development and expand BridgePort’s team.
The platform is now live in production on AWS and offers integration through REST APIs, FIX protocol, and bespoke connectivity.
BridgePort is actively onboarding exchanges and regulated custodians to expand its settlement network. Future updates will include enhanced collateral management features and deeper pre-trade credit capabilities.
AI-powered InsurTech Stitch Studio raises $3m seed round
Stitch Studio, an Oregon-based InsurTech startup that builds AI agents for the insurance industry, has raised $3m in a seed funding round led by ManchesterStory.
Founded in 2024, the company enables carriers, brokers and managing general agents to automate key insurance workflows, including underwriting, claims and operations, using its purpose-built AI Studio platform, according to the Coverager.
The funding will help Stitch accelerate its go-to-market strategy, deepen its AI capabilities tailored for insurance, and expand adoption among insurance stakeholders.
Saudi FinTech Tarmeez secures funding led by stc’s Tali
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