Top FinTech funding rounds in the Americas: April 2021

By Pavithra R

The rise of new FinTech startups, new-to-bank population and technological advancements have paved the way to an upsurge in FinTech evolution. With individuals getting familiarised to use digital ways of conducting their banking transactions, the trend is expected to continue even post the COVID-19 era. Mentioned below is the list of 5 FinTech companies that have raised funds this month.

Plaid

Plaid, a FinTech company democratizing financial services through technology, has announced raising $425m Series D financing. The funding round saw participation from new investors Altimeter Capital, Silver Lake, and Ribbit Capital along with existing investors, including Andreessen Horowitz, Index Ventures, Kleiner Perkins, New Enterprise Associates, Spark Capital, and Thrive Capital.

The new funding will help Plaid to better support developers across all industries & continue to unlock financial freedom for everyone. The FinTech is planning to use the investment to help scale the platform to support the massive growth in fintech, and enable the next generation of digital financial services. The firm also has plans to continue to grow its team and is hiring over 400+ roles across all teams.

Brex

Brex, reimagining financial systems for growing businesses, has announced securing $425 mn in Series D investment round led by Tiger Global, bringing the company at a valuation of over $7.4 bn.

Founded in 2017 by Henrique Dubugras and Pedro Franceschi, Brex is reimagining financial systems so every growing company can realize their full potential. The FinTech in Q1 2021 alone, grew total customers by 80% with total monthly customer additions increasing by 5x.

The investment round saw participation from new investors TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners LP, Valiant Capital Management and Base10, with participation from all existing major investors including Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital, Lone Pine Capital and IVP.

Greenlight

Greenlight Financial Technology, the FinTech company aiming to help parents raise financially-smart kids, has announced securing $260 mn in Series D funding.

The series was led by Andreessen Horowitz with participation from return investors TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND, Fin VC, Goodwater Capital, as well as new investors Wellington Management, Owl Ventures and LionTree Partners. The new finance brings the FinTech’s total funding to over $550 mn and increases its valuation from $1.2 bn to $2.3 bn in a six-month period.

The firm is planning to use the new funding to accelerate product development to add more financial services to Greenlight‘s platform and to invest further in strategic distribution partnerships and geographic expansion to reach more families. The capital will also be used to hire more talent with plans to add 300 new employees with a focus on engineering over the next 2 years.

Current

New York-based leading challenger bank Current aimed to serve Americans overlooked by traditional banks has announced securing $220 mn in Series D funding. The investment tripled its valuation to $2.2 bn in just five months.

New investor Andreessen Horowitz led the round for the financial platform, which has now raised over $400 million in total funding. The round saw participation from investors including Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management and EXPA.

The fundraise follows a year of tremendous growth for Current, which has nearly 3 mn members. The new capital will allow Current to grow the company and its member base as well as build integrated products with some of today’s most relevant creators.

Signifyd

Signifyd, a leading provider of digital trade protection has announced securing $ 205mn E-series growth equity financing led by Owl Rock Capital, with participation from financial services provider FIS and management organizations Canada Pension Plan Investment Board (CPP Investments) and Neuberger Berman Investment Advisers.

The new funding values ​​the company at $1.34bn and incorporates significant resources to expand its trade protection platform and identity graphic globally, through digital purchases and payments. The combination of the investment and accompanying experience will help the company accelerate its expansion in Latin America and continue its growth in Europe, Middle East and Africa (EMEA).

Signifyd will continue its legacy of achieving a better customer experience by protecting and optimizing identity-centric commerce. the firm created a marketplace for guaranteed fraud protection against all chargebacks, including those resulting from consumer abuse. The firm designed its powerful business protection platform to provide comprehensive fraud protection, abuse prevention, and payment optimization.

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