After a month of strong weeks for FinTech funding, it was a slower week as companies head into the final month of 2025.
A total of $604m was raised across 17 FinTech deals, this week, marking a significant from the $2.1bn raised last week. This is also the first week in over a month where less than $1bn was raised by companies.
However, the amount of capital raised this week could be significantly higher than $604m. FinTech giant Revolut raised an undisclosed amount through a major share sale, which had valued the company at $75bn. The goal of the round is to provide liquidity to employees and bolster its investor relations. The transaction was led by Coatue, Greenoaks, Dragoneer and Fidelity Management & Research Company, with further backing from top-tier investors.
As for the location of this week’s deals, the US’ iron grip was weaker, despite still holding the top spot. The country accounted for six of the deals. These were Model ML, Numerai, Tidalwave, Opti, Vijil and Codenotary.
Saudi Arabia was home to the biggest deal of the week, a $125m investment into alternative SME financing platform Erad. The credit facility was led by Jefferies, with co-investment from Channel Capital. The capital has been earmarked to support more financing across the Gulf.
Erad was not the only Saudi Arabia-based FinTech to raise funds this week. RegTech startup STAMP raised $2m in its pre-seed round. Its investors were not disclosed, but the capital will help strengthen STAMP’s AI capabilities and broaden the scope of its compliance and governance tools.
The UK and Israel were also home to two FinTech deals this week. These were UK-based BKN301 and Revolut, while the Israeli companies were Guardio and Clover Security.
Other countries represented this week were Thailand (Roojai), Australia (Pay.com.au), Canada (Augmentt), Germany (Rencore) and India (Wealthy).
Research from FinTech Global this week claimed that global FinTech deal activity is expected to drop by a fifth in 2025. It found that during Q1-Q3 2025 recorded 2,654 deals, a 27% decline from the 3,625 deals completed in Q1-Q3 2024. However, despite the significant drop in deals, there was a smaller decline in capital raised. Total funding over the same period fell to $64.9bn, a 6% drop from the $69.3bn raised a year earlier.

In terms of sectors, it was a strong week for CyberTech and RegTech, which both recorded four deals. The CyberTech companies were Guardio, Clover Security, Augmentt and Codenotary, while the RegTechs were Opti, Vijil, Rencore and STAMP.
Elsewhere, there were three WealthTechs (Numerai, Wealthy and Revolut), two marketplace lending companies (Erad and Tidalwave), two infrastructure and enterprise software FinTechs (Model ML and BKN301), one InsurTech (Roojai) and one PayTech (Pay.com.au).
Here are the 17 FinTech funding rounds covered by FinTech Global this week:
Erad secures $125m for SME finance expansion
Erad, the Riyadh-based alternative financing platform for SMEs, has secured a major funding lift as it seeks to accelerate its growth across the Gulf region.
The company, which provides embedded finance tools to help small businesses access capital more easily, has struck a new partnership to support its next phase of expansion.
The business has obtained a $125m credit facility in a deal led by Jefferies, with co-investment from Channel Capital. Once finalised, the deal will become Jefferies’ first asset-backed financing transaction in the GCC and will strengthen the firm’s presence in Saudi Arabia.
Erad operates an alternative financing model that embeds working-capital solutions directly into supplier networks and business platforms. By integrating financing at the point of transaction, the company aims to remove the traditional barriers SMEs face when attempting to secure funding, particularly in fast-growing sectors such as e-commerce, retail and services.
The new capital will be deployed to scale embedded finance offerings across the Gulf and to support the firm’s growing base of SME clients in Saudi Arabia and the wider GCC. Funding earmarked for Saudi SMEs will be channelled through CMA-licensed direct financing funds managed by Erad Partners Capital. The facility provides significant headroom for expansion, particularly as the company continues to experience strong demand from SMEs.
The company highlighted its 6x year-on-year growth and more than $700m in funding requests as evidence of this demand. It also noted that regional SMEs contribute around 50% of GDP and employ two-thirds of the workforce, yet still face an estimated $250bn financing gap.
Guardio bags $80m as demand for consumer cyber soars
Model ML secures $75m to expand AI workflow product
Model ML, the global AI workflow automation platform for financial services, has raised $75m in a Series A round led by FT Partners.
Significant participation also came from Y Combinator, QED, 13Books, Latitude and LocalGlobe. The raise comes just six months after the firm’s seed round and only twelve months after launch.
Use of proceeds from the round will focus on accelerating global expansion and deepening the company’s AI capabilities across key financial hubs. Model ML plans to build onboarding and customer success teams across San Francisco, New York, London and Hong Kong to support rising enterprise adoption.
The firm will also scale its AI engineering and infrastructure teams in New York and London, advancing its proprietary agentic systems and workflow automation modules. These investments aim to support seamless integration and deployment for its growing global client base.
Model ML, founded by brothers and repeat entrepreneurs Chaz and Arnie Englander, enables financial teams to build AI workflows that automatically generate client-ready Word, PowerPoint and Excel outputs directly from trusted data in exact prior formats. The platform is already deployed across several of the world’s largest banks, asset managers and consultancies, including two of the Big Four accounting firms.
The company’s agent workflows go beyond simple data retrieval or chat interfaces. They interpret schemas, reason across multiple sources, write code to extract and transform data, and generate full branded outputs such as long PowerPoint decks, diligence reports and investment memos.
Thai InsurTech Roojai raises $60m to drive regional growth
Thai InsurTech Roojai has secured $60m in new funding, with Apis Partners and Asia Partners leading the Series C round in a move aimed at boosting the firm’s regional expansion.
The company raised the funds to support ongoing expansion in Thailand and Indonesia while enabling strategic acquisitions that will strengthen its product suite and operational capabilities, according to FinTech News Singapore.
Commenting on the raise, Roojai co-founder and CEO Nicolas Faquet said, “Apis and Asia Partners bring deep and hands-on growth expertise. They will strengthen Roojai’s ability to continue its path of disciplined growth, product innovation, and facilitate our mission to bring straightforward and fair insurance to more customers throughout Southeast Asia.”
Roojai operates a fully digital model within the InsurTech sector, offering consumers streamlined access to coverage through its technology-driven platform.
Alongside motor insurance, its portfolio includes health, personal accident and travel insurance, with Indonesia becoming a growing focus of its regional strategy.
The latest funding will also help the firm develop its underwriting approach, which focuses on assessing individual customers rather than vehicles. Supported by risk-based segmentation, this method aims to deliver more competitive pricing, clearer premiums and faster customer service.
Pay.com.au raises AUD$53m ($34.7m) to boost global expansion
Pay.com.au, the Australian payments and rewards platform serving businesses across the country, has secured AUD$53m in fresh capital.
The company confirmed that the capital event, worth AUD$53m, was led by Morgans Corporate Limited and combines AUD$25m in new capital with AUD$28m raised through a secondary sell-down, claims Financial IT.
Investors are backing pay.com.au as it builds scale, with plans to expand locally and pursue new opportunities in the US, supported by partners including Amex.
Pay.com.au operates an end-to-end payments and rewards platform designed to help businesses earn value on everyday expenses. Its model, centred on PayRewards, enables users to earn points on a wide range of outgoings that traditionally do not generate rewards.
The new capital will support deeper investment in the company’s core payments and rewards offering, which reached an annualised gross revenue of AUD$246m for the quarter ending September 2025. Funding will also help accelerate its US market entry and extend its footprint across Australia.
According to the company, the raise was completed at a pre-money equity valuation of around AUD$633m, more than double the valuation reported a year earlier. This, it said, reinforces its position as one of Australia’s largest business loyalty ecosystems and reflects growing confidence in its model. The platform now supports rewards earned and redeemed through 16 global partners, including airlines and major card networks.
AI product security firm Clover secures $36m funding
Product security firm Clover Security, a company focused on safeguarding the next generation of AI-driven software, has secured $36m in funding.
The round was led by Notable Capital and Team8, alongside participation from SVCI. Clover is also backed by several well-known industry figures, including Wiz co-founders Assaf Rappaport and Yinon Costica, Cato Networks’ Shlomo Kramer, Rene Bonvanie, and senior executives from Snyk, CrowdStrike, Palo Alto Networks, Atlassian, and Google.
Clover develops AI-powered product security tools that embed intelligent agents directly into widely used development and collaboration environments, including Confluence, Jira, GitHub, Cursor, and Slack. Rather than waiting for vulnerabilities to appear, the platform aims to identify design-stage security weaknesses and guide developers to build securely from the outset.
The fresh investment will support the company’s efforts to strengthen its product suite and scale its design-driven approach to product security. The funding will also enable Clover to meet rising demand as organisations accelerate towards AI-native development and face increasingly complex security environments.
Clover’s technology works by replicating the reasoning of experienced security engineers. Its agents analyse how systems behave, anticipate where flaws may emerge, and apply established security principles during the earliest planning stages. This is designed to reduce repetitive, manual work for security teams and give developers real-time guidance without disrupting their workflow.
BKN301 acquires Planky alongside new Series B extension
BKN301 Group, a global FinTech architecture provider, has reinforced its expansion trajectory with a €33m ($38.2m) Series B extension, accompanied by the acquisition of Planky, a UK-based AI-powered financial analytics firm.
The company sought to raise fresh funding to accelerate its digital banking architecture rollout across EMEA, strengthen its technological capabilities, and fuel an ambitious M&A roadmap. The addition of Planky also supports BKN301’s drive to deepen its AI and data analytics strengths.
BKN301 provides a cloud-native digital banking architecture designed to help banks and FinTech firms modernise legacy environments without disrupting existing operations. Its platform offers long-term scalability through a proprietary suite built on three components: the API Orchestrator, Data Decoupling Layer, and Business Logic Engine. These collectively enable financial institutions to expand services, integrate new capabilities, and enhance resilience.
The newly acquired Planky brings advanced machine learning models that specialise in real-time financial insights, behavioural scoring, and predictive analytics. These capabilities will be integrated into BKN301’s platform to deliver more intelligent, personalised and compliant digital banking experiences for clients.
Numerai lands $30m to scale AI-powered hedge fund
Numerai, an investment firm that builds its portfolio using machine learning models and crowdsourced data science, has secured fresh capital of $30m.
The investment was led by several major university endowments, with participation from existing backers Union Square Ventures, Shine Capital and Paul Tudor Jones. The deal places Numerai at a $500m valuation, marking a five-fold increase since its previous valuation in 2023.
Numerai operates an AI-powered hedge fund that aggregates insights from thousands of data scientists around the world. Its platform blends these models into what it calls a “Meta Model”, which informs trading strategies across global equities. The firm has been known for its unconventional approach to investment management, combining crowdsourced intelligence, cryptographic incentives and machine learning.
The new capital will support Numerai as it scales its operations and accelerates the expansion of its investment capacity. According to the company, the equity raise follows a series of major milestones, including securing up to $500m in capacity from J.P. Morgan and purchasing $1m worth of NMR, its native token, on the open market to enhance alignment with its community. The fresh funding will also support the company’s ambition to grow its assets under management (AUM) towards the $1bn mark and beyond.
Additional information outlined by Numerai highlights a period of rapid expansion. Over the past three years, AUM has climbed from roughly $60m to $550m, with an additional $100m added in the past month alone. In 2024, its Meta Model delivered a net return of 25.45% with only a single down month. The company is also increasing its physical footprint by moving into larger headquarters in San Francisco and preparing to open a new office in New York.
Tidalwave raises $22m to scale AI mortgage automation
Tidalwave has raised $22m in a Series A round as the company looks to accelerate its reach across the U.S. lending market.
The round was led by Permanent Capital, with participation from D.R. Horton, Inc., and follow-on backing from Engineering Capital. This latest investment brings the company’s total funding to $24m.
The funding round marks a significant step for the company, which aims to modernise one of the most manual and fragmented parts of the U.S. financial system. Tidalwave operates in the mortgage technology sector, deploying autonomous software agents to streamline end-to-end tasks such as verification and underwriting. Its model is designed to support lenders struggling with outdated workflows that continue to rely on manual data entry and disconnected systems.
The company’s approach uses agentic AI to remove friction throughout the mortgage lifecycle, cutting processing times and reducing human error. Tidalwave’s direct integrations with Fannie Mae and Freddie Mac provide instant underwriting verification, while links with Plaid, Argyle and Truv enable real-time checks on income, employment and assets. The aim is to reduce delays for borrowers and cut costs for lenders, with research from Freddie Mac indicating that automation tools can lower origination costs by around $1,500 per loan.
Tidalwave plans to use the new funding to accelerate adoption of its platform, with projections that its technology could process more than 200,000 loans each year. This would represent around 4% of the $1.46tn in U.S. mortgage originations expected in 2026, according to the Mortgage Bankers Association. The company also intends to expand the buildout of its intelligent AI agents, enhancing support for borrower engagement and lender productivity.
Over the past six months, several mortgage industry players, including NEXA Lending, First Colony Mortgage and Mortgage Solutions, have adopted Tidalwave’s platform. The company said these firms have used its technology to improve application flows, speed up approvals and reduce paperwork.
Opti launches AI identity platform after $20m seed
Opti, an AI-native identity security platform founded in 2024, has raised $20m in seed funding.
The round was led by YL Ventures, Mayfield Fund and Hetz Ventures, joined by Squared Circle Ventures, LocalGlobe, Maple Capital and cybersecurity pioneer Shlomo Kramer. The capital will support rapid product expansion and global scaling.
The company launched its new platform in response to organisations’ ongoing struggles with ineffective IAM tools, which rely heavily on manual processes. With identity complexity surging, Opti aims to deliver fully automated protection that reduces vulnerability exposure and enhances operational efficiency.
Opti develops AI-powered identity and access management technology using GenAI and domain-specific LLMs. Its system interprets user, access and system relationships to improve enterprise security, compliance and productivity.
The platform provides real-time detection of identity vulnerabilities, misconfigurations and overprivileged access. It offers validated least privilege recommendations and uses agentic AI orchestration to verify and execute access corrections with human oversight.
MSP security platform Augmentt secures $18m funding
Augmentt, a fast-growing SaaS provider specialising in security automation for MSPs, has secured fresh investment to accelerate its expansion plans.
The company, which offers tools to unify and secure Microsoft 365 environments, has been gaining traction among MSPs seeking more efficient ways to monitor and manage client systems.
The firm has raised CAD $18m in a Series A round led by Camber Partners, a New York-based growth equity investor focused on scaling high-velocity B2B software companies. The new capital marks a major milestone for Augmentt as it looks to step up its product expansion and commercial reach.
Augmentt’s platform gives MSPs a centralised way to oversee tenant posture, automate security processes and gain visibility across Microsoft 365 and other cloud environments. As labour shortages, compliance pressures and rising customer expectations intensify, MSPs have turned to automation to maintain profitability while improving service and security standards. The company positions itself as a core enabler of this shift, helping partners deliver stronger security and scalable operations.
Funding from the latest round will support rapid development across Augmentt’s product roadmap, alongside expanded go-to-market activity and deeper strategic partnerships. The aim is to bolster its offering in line with increasing MSP demand for unified tools that enhance security oversight and reduce operational burden.
AI resilience firm Vijil secures $17m funding
Vijil, an enterprise AI resilience platform, has secured fresh backing as it looks to help organisations safely scale the use of AI agents in production environments.
The company has raised $17m in a round led by BrightMind Partners, with participation from Mayfield and Gradient. This new capital brings Vijil’s total funding to $23m, marking a significant milestone in its expansion.
Vijil operates a platform designed to enhance the reliability, security, and governance of AI agents. Its technology continuously improves the resilience of agentic systems using reinforcement learning driven by real-world telemetry. The firm has positioned itself as a key enabler for businesses that want to adopt AI agents but lack the necessary tooling or in-house expertise to manage operational risk.
The new funds will be used to accelerate deployments of the Vijil platform. The company aims to help enterprises shorten the time it takes to verify trust, reduce compliance costs, and achieve stable large-scale rollouts of agentic technologies.
The announcement comes shortly after Vijil was named a Gartner® Cool Vendor in the 2025 Cool Vendors
in Agentic AI Trust, Risk and Security Management (TRiSM) report. The company highlighted growing customer adoption, with SmartRecruiters among those using Vijil to compress their time-to-trust by 75%. Vijil said its platform enables companies to build, test, deploy, and strengthen AI agents without compromising security or governance.
AI cybersecurity firm Codenotary secures $16.5m funding
Codenotary has secured fresh backing of $16.5m to accelerate the reach of its technology.
The firm, which works with financial institutions, government bodies and defence organisations, is positioning itself at the forefront of automated software integrity and trust management as security risks continue to escalate worldwide.
The company has raised $16.5m in new financing from a group of new and existing investors. The fresh injection of capital comes as demand intensifies for technologies that can keep pace with the complexity of modern digital infrastructure and the growing risks surrounding software vulnerabilities and compromised systems.
Codenotary provides an intelligent platform designed to deliver end-to-end visibility, instant policy enforcement, audit trails and automated trust decisions across distributed applications. Its technology plays a central role in supporting enterprises that are moving away from manual verification processes and towards deterministic, AI-powered approaches to cybersecurity and compliance.
The new funding will help the company scale its engineering and sales teams while supporting expansion into additional markets, including the UK and Asia. The firm has reported a sharp rise in adoption as organisations seek to strengthen resilience and modernise their approach to software trust, vulnerability assessments and regulatory compliance.
Governance platform Rencore lands $15m funding
Rencore, a Germany-based enterprise software company specialising in cloud and AI governance for Microsoft environments, has raised fresh capital to extend its Series A round to $15m.
The latest funding was led by European technology investor Hi Inov, with continued backing from existing investors UVC Partners and Capnamic Ventures. The new investment brings the total Series A to $15m and marks a meaningful expansion of support for the company’s push into international markets.
Rencore provides a cloud-based governance platform designed to help large organisations manage collaboration, security, compliance, automation and AI-driven services across Microsoft 365, the Power Platform and tools such as Copilot and enterprise agents. Its technology enables IT and compliance teams to gain visibility across sprawling environments, apply policies, reduce risk and automate remediation across collaboration and AI data sources.
The company plans to use the fresh capital to accelerate its expansion across Europe and North America, while further strengthening its AI and Agent Governance capabilities. The funding will also support the growth of its product and engineering teams, as well as scaling its go-to-market operations through closer work with enterprises, system integrators and managed service providers.
Rencore has built its reputation on Microsoft 365 governance and has recently extended its platform to cover advanced capabilities for AI and Agent Governance, an area becoming increasingly important as organisations deploy Copilot and other AI systems at scale. The company said demand is rising sharply as CIOs and IT leaders look for ways to maintain control, ensure responsible AI use and meet new standards for trust, risk and security.
Runlayer raises $11m to secure enterprise MCP tools
Runlayer has raised $11m to expand its platform as demand for safe AI integration intensifies across industry.
The company has secured $11m in a seed round led by Keith Rabois at Khosla Ventures, with participation from Felicis. Additional supporters advising the firm include David Soria Parra, the Co-Creator of MCP at Anthropic, and Travis McPeak, the Head of Security at Cursor. AI-native companies such as Gusto and Opendoor are already using Runlayer’s technology in production.
Runlayer specialises in helping organisations manage the growing security risks associated with MCP, a rapidly adopted standard that enables AI systems to connect directly to tools, systems and production data. With more than 18,000 MCP servers now active, the company highlights that around 10% are malicious, while many more are easily exploitable. The firm argues that enterprise teams currently lack sufficient visibility and control over how AI tools interact with sensitive systems, leaving businesses with a stark choice between blocking MCP entirely or accepting significant operational risk.
The new capital will support Runlayer’s plans to scale enterprise-grade MCP security infrastructure. This includes expanding threat detection capabilities, enhancing fine-grained permission controls integrated with identity providers, improving observability across AI-driven actions, and developing a curated MCP catalogue to ensure developers only access vetted, trustworthy tools. The company intends to make the platform deployable either within a customer’s virtual private cloud or via its own cloud environment, strengthening operational flexibility.
Wealthy launches new AI tools after Rs 130 Cr ($14.5m) raise
STAMP raises $2m to grow Saudi AI compliance platform
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