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Hello reader,
Chinese and Indian companies usually dominate this newsletter and its funding list. This is no surprise, but it’s also nice when they feature firms from elsewhere.
This week, not only does fintech company Sipay fly Turkey’s flag – it tops the funding list.
Recent economic developments have brought to stark light how connected and interdependent the world’s countries are. (I’ll use the T word enough later in this edition, so I’m not using it now). If the landscape keeps changing, we might start to see more unexpected markets pop up in future editions.
Image credit: Timmy Loen
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals that recently took place.
The biggest deals by country
🇹🇷 Turkish fintech company Sipay has raised US$78 million in a series B funding round, resulting in a valuation of US$875 million. US-based Elephant VC led the equity round, with participation from QuantumLight, the investment firm founded by Revolut co-founder Nik Storonsky.
🇨🇳 Grand Hitek, a Chinese company that manufactures dry vacuum pumps needed in semiconductor chip production, has received US$62.5 million in strategic funding. The round was led by the Beijing New Materials Fund and included participating investors likeFuture Assets, Real Power Capital, and Fortune Capital.
🇮🇳 Juspay, an India-based fintech startup, has scored US$60 million in a series D round led by Kedaara Capital. Existing investors SoftBank and Accel also participated in this funding round.
🇵🇰 Haball, a Pakistani fintech company specializing in supply chain payments and financing, has locked in US$52 million in a pre-series A round. Funding included US$5 million in equity from Zayn VC and US$47 million in strategic financing from Meezan Bank, the largest Islamic bank in the country.
Startups that are raising funds
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