After a few years late, FinTech appears to be making a comeback.
According to a CB Insights survey, in the first quarter of 2025, Fintech startups raised a total of $10.3 billion worldwide. The average transaction size was $17.7 million, marking its highest mark since 2021.
In particular, some crypto-related startups are one of those that will raise a large round in 2025.
However, investors are also supporting other types of financial technology companies, including payments, banking and some of the fraud prevention sector. According to Pitchbook data, the US-based fintech companies that have raised more than $50 million so far in 2025 are:
April
Plaid, which connects its bank account to its financial application, sold approximately $575 million worth of common stock at a money valuation of $6.1 billion. Franklin Templeton led the “oversubscribe” raises, including existing investors NEA and libbit capital, as well as participation from new supporters including Fidelity Management and Research, BlackRock and more. The San Francisco-based company has revealed that the funding is not actually a Series E round, but rather a sale of common stock. This is different from secondary stock sales that occurs when existing shareholders sell shares to other investors without receiving new capital. Felix, a chat-based platform that helps US Latino immigrants send money abroad, has raised $75 million in the Series B round. QED Investors led the round. This includes participation from Monashee, Switch Ventures, Castle Island, Htwenty, General Catalyst Customer Value Fund and Endeavor Catalyst. Rain is a Los Angeles-based startup that offers an employer-integrated Wage Access (EWA) app, paired with financial wellness features such as overdraft alerts and spending trends, raising $75 million in the Series B round. The round was led by Prosus in a post-money valuation of $340 million. Ethic, a New York-based high-tech asset management startup, has raised $64 million in Series D funding led by State Street Global Advisors. According to Pitchbook, the round was raised at a post-money valuation of $700 million. Luna Technologies, a Cincinnati, Ohio-based wealth management platform, raised $63 million in the Series C round, led by Sixth Street Growth. Existing Backers Bank of America, Morgan Stanley, UBS and TD Bank Group also participated. TapCheck, a Plano, Texas-based on-demand paid provider, has secured $225 million in funding. The pay raise included a $25 million extension of the Series A round led by Peakspan Capital and a $200 million credit facility from Victory Park Capital.
march
Digital banking startup Mercury has raised $300 million in primary and secondary funding with a $3.5 billion money valuation. New investors Sequoia led the latest round (Series C) along with existing backers Coatue, CRV, Andreessen Horowitz and other new investors Spark Capital and Marathon. Mesh, a startup at Crypto Payments, has raised $82 million in the Series B round, led by paradigms from Consensey, Quantumlight, Yolo Investments and more. The company touted that funding was secured using PayPal USD (PYUSD) Stablecoin. According to Pitchbook, San Francisco-based Mesh was valued at $482 million in money. Provides personal financial software and payment infrastructure for business owners, Flex has raised $25 million in equity funding while securing a $200 million credit facility. The stock funds were raised at a valuation of just under $250 million. Titanium Ventures led the Flex equity round. This includes participation from Companyon Ventures, Florida Funders, MS&AD Ventures, AAF Management and First Look Partners. Victory Park Capital provided $200 million in credit capabilities. Amazon, a Miami-based provider of crypto-driven project services aimed at converting Rainforest conservation into market-driven investment opportunities, has raised $105 million. According to Pitchbook, the Global Edge Worldwide Fund and Gorilla Technology provided capital. Zolve has raised $251 million in a new funding round that will help startups provide financial access to highly skilled, highly spending global citizens moving to the US as they aim to expand their presence and enter new regions. Zolve raised $51 million in stock in the Series B round led by Creaegis, supporting expansions from HSBC, SBI, GMO and DG Daiwa. Existing investors Accel, Lightspeed Venture Partners, Sparta Group and DST Global also participated. Additionally, the round included $200 million in debt to purchase Expas books from partner banks to take on the risk.
February
According to Pitchbook, Bitwise, a San Francisco-based Crypto Specialist asset manager, raised $670 million in a funding round led by electricity capital. Blockchain Coin Bettors, Highland Capital, Khosla Ventures, MIT Investment Management Company, MassMutual, Haun Ventures, Parafi Capital, General Catalyst, and Angel Investors groups also participated in the fundraising. Sardine, described as an AI risk platform for fraud, compliance and credit underwriting, has raised a $70 million Series C funding round led by Activant Capital. Andreessen Horowitz, NYCA Partners, Google Ventures, Geodesic Capital, Cross Creek Capital, Moody’s Analytics, Experian Ventures and Naventures also participated in the fundraising. According to Pitchbook, the San Francisco-based startup was valued at $680 million in money. Raise, an online gift card market that looks at Raise, Crypto, has raised $63 million. Investors include Amber Group, Anagram (Cayman Islands), Black Pine, Borderless Capital, GSR, Horn Venture Management, Caratage, Paper Ventures, Falsaros Capital, and more. Candid Health, a revenue cycle management platform for healthcare providers, has raised a $52.5 million Series C, led by Oak HC/FT and existing investors. The round took place six months after Candid’s $29 million Series B. This was led by 8VC and was attended by the first round of returnbackers Capital, BoxGroup and Y Combinators. According to Pitchbook, the Series C valued the company as a $250 million post-money.
January
Phantom, a developer of crypto wallets designed for decentralized finance and inappropriate tokens, has raised $150 million Series C round funding at a $3 billion valuation. Sequoia Capital and Paradigm also includes participation from A16Z Crypto and Variant. Highnote, a San Francisco-based card issuance and embedded payments company, raised $90 million in Series B round funding led by Adams Street partners, and participated from existing investors including Oak HC/FT, Costanoa, Westcap and Pinegrove Venture Partners. According to Forbes, the round valued the company more than $750 million. Fundraise Up, a Brooklyn-based fundraising platform for nonprofits, has raised $70 million in minority growth investments led by summit partners, with participation from existing investor telescope partners. Openly, the tech-enabled home insurance service provider has raised $193 million in a growth financing round co-led by Allianz’s strategic growth investment arm Eden Global Partners and Allianz X. Existing supporters such as Advance Venture Partners, obvious ventures, Clocktower Technology Ventures and Point Judith Capital are also taking part in the fundraising.
Source link
