Welcome to TechCrunch Fintech!
This week we’re looking at some big valuation jumps, how Stripe is paying attention to another shareholder sale, and colorful conversations with early stage VCs!
Subscribe to our list of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 8am.
Big story
Last week was good when it came to fundraising for fintech startups. Riyadh-based Tabby has become the most valuable fintech in MENA after winning $160 million in the Series E round and securing $160 million at a valuation of $3.3 billion . That’s twice the $1.5 billion valued just 18 months ago. It’s impressive. And India’s Zeta, a provider of banking software for banks and fintech startups, has raised $50 million from strategic investors at a valuation of $2 billion. This is up from the $1.15 billion price tag (primoney) that was won in 2021. Meanwhile, Mercury is reportedly in talks to raise capital in a new round led by Sequoia at a valuation of over $3 billion. (The company had no comments when TechCrunch reached out.) If these deals are a sign of what 2025 will look like, I’m supporting myself. Start getting flashbacks for 2021. (Not at all, but still…)
Show me the money
Sources familiar with multiple reports and issues say the huge stripe of payment infrastructure is giving talks about another shareholder sale that could potentially value the company for at least $85 billion.
Lagos-based Raenest, which offers multi-currency accounts, raises $11 million in a funding round led by QED investors, expanding its reach across Africa.
Ghanian Fintech Affinity Africa has raised $8 million in seed funding to further expand its financial products across the country, a dominant financial tool by mobile money.
Building tools to help insurers manage their claims and revenue operations, Comulate is a $20 million Series B used to expand Tech Stack to cover more features and expand operations The round has been closed.
Cap table management company Karuta made the headline in 2020 when former marketing VP Emily Kramer filed a lawsuit alleging gender discrimination and retaliation. The case was resolved in 2023. However, since then, Karuta has settled two other lawsuits filed by a woman who worked for the company and suspected of sexual harassment and discrimination. Charles Roll has more about this.
Crypto Exchange Coinbase is working to re-enter India more than a year after officially suspending its operations in the world’s most populous countries.
There was an absolute explosion talking to Sheel Mohnot, general partner at Better Tomorrow Ventures for TechCrunch’s equity podcast. We’ve seen him on Justin Bieber’s video, from how social media helped him win deals, to how I think Fintech is making a major comeback. We chatted about everything.
High profits
Speaking of Mega Raise, fraud detection startup SARDINE AI concludes its $70 million Series C.
Warranty obtains StartSure Insurance Services. Raise Series D funding
Varo CEO Colin Walsh taps Gavin Michael to take over him
Robinhood’s fourth quarter crypto revenues rose 700% year-on-year
Thank you for reading! Until next week… Follow me on X @bayareawriter to break Fintech news. Posts about coffee, etc.