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Hello reader,
A recession can mean many things – cutbacks, layoffs, plummeting share prices – but it doesn’t mean a unicorn drought.
Case in point: This week’s top fundraiser, FinAccel, joined the unicorn club after a US$140 million series D funding round pushed its valuation to more than US$1.6 billion.
Apart from that milestone, the Indonesia-based fintech firm’s share price has almost tripled compared to its previous funding round in 2019.
Here’s hoping FinAccel is only the first of many unicorns we’ll still see thrive in these tough times.
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 and M&As that recently took place.
The biggest deals by country
🇮🇩 FinAccel: The Indonesia-based fintech firm bagged US$140 million in series D money from Cathay Innovation, Endeavor Catalyst, GMO Global Payment Fund, Jungle Ventures, Mirae Asset Venture Investment, Openspace Ventures, and Square Peg Capital.
🇨🇳 Xunshi Technology: The Chinese 3D printing company raised US$100 million in series D funding from CD Capital, Marathon Venture Partners, Visionfund, Yiheng Capital, and ZWC Partners.
🇮🇳 Adda247: The Indian edtech platform got US$35 million in series C funding from Asha Impact, Google, Info Edge India, and WestBridge Capital.
M&As
Startups that are raising funds
Killer pitch decks
Exclusive listicles
Thoughtful reads
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