Welcome to TechCrunch Fintech!
This week, we’re taking a closer look at significant valuation jumps, Stripe’s potential shareholder sale, an engaging conversation with an early-stage VC, and more exciting developments in the fintech space.
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The Big Story
The past week saw significant funding activity in the fintech space. Riyadh-based Tabby achieved a $3.3 billion valuation after securing $160 million in a Series E round, more than doubling its valuation in just 18 months. Similarly, India’s Zeta, a banking software provider, raised $50 million at a $2 billion valuation, up from $1.15 billion in 2021. Mercury is also reportedly in talks for a new funding round led by Sequoia at a valuation over $3 billion, which would double its current value.
Show Me the Money
Payments giant Stripe is exploring another shareholder sale, which could value the company at over $85 billion, according to multiple reports. Additionally, Raenest raised $11 million to expand its multi-currency accounts across Africa, while Affinity Africa secured $8 million in seed funding to enhance its financial products in Ghana.
Comulate closed a $20 million Series B round to expand its tech stack and scale operations, helping insurers manage billing and revenue operations more effectively. Furthermore, Carta, a cap table management firm, has settled two lawsuits alleging sexual harassment and discrimination, following a previous settlement in 2023.
Coinbase is working towards re-entering the Indian market after ceasing operations over a year ago. I had the pleasure of discussing fintech trends with Sheel Mohnot, general partner of Better Tomorrow Ventures, on TechCrunch’s Equity Podcast, where we explored topics ranging from his experience in a Justin Bieber video to the resurgence of fintech and the impact of social media on deal-making.
High-Interest Headlines
Notable funding announcements include Sardine AI’s $70M Series C for fraud detection and Vouch’s acquisition of StartSure Insurance Services along with its Series D funding round.
Varo CEO Colin Walsh has announced his successor, Gavin Michael. Additionally, Robinhood’s Q4 crypto revenue has seen a significant year-over-year increase of 700%.
Thank you for reading! For more fintech news, updates, and a dash of coffee talk, follow me on X @bayareawriter.
