Fintech funding fun

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Hello reader,

There are lots of fintech firms in this week’s featured deals. While I’m not particularly enthralled with the industry, I can’t deny how its innovations over the years have changed how we live. For example, companies like Revolut and YouTrip have made paying for things overseas so much easier and safer – no need to carry around a fat stack of notes and worry about it the whole trip.

I might not understand the nuts and bolts of these industries, but anything that improves people’s quality of life is always welcome.

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 and M&As that recently took place.

— Winston

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The biggest deals by country

🇸🇬 UltraGreen.ai is a Singapore-based medtech firm, has signed a US$188 million investment agreement at an equity valuation of US$1.3 billion. The deal was led by 65 Equity Partners and Vitruvian Partners, with participation from August Global Partners.

🇸🇦 Headquartered in Saudi Arabia, Hala is a fintech company that provides embedded financial services to micro, small, and medium-sized businesses. It bagged US$157 million in a series B round led by TPG’s Rise Fund and Sanabil Investments.

🇮🇩 Indonesian firm Astro delivers groceries in Jakarta using a network of dark stores. It has reportedly secured US$51.9 million in a funding round led by Amazon.

🇵🇭 Salmon Group, a fintech company offering consumer lending and banking services in the Philippines, has raised US$50 million through a Nordic bond issue.

🇮🇳 India-based FinBox has closed a US$40 million series B round that saw participation from investors including A91 Partners, WestBridge Capital, and Aditya Birla Ventures. The fintech startup enables digital platforms to launch credit products.

Here’s the complete list of this week’s funding chart: 77 deals worth over US$780 million.

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Startups that are raising funds

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Behind the Glasswall

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Exclusive listicles

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Thoughtful Tidbits