FinTech funding passed the $1bn mark this week across the 23 deals – following two mega deals – including one worth a monstrous $500m.
Across this week’s mega deals, two stood higher than the rest, bolstering this weeks’ figures massively with $729m between them.
Databricks, a leading analytics and AI platform, produced the biggest fish, landing $500m in a round led by T. Rowe Price Associates. They were supported by India’s leading B2B SaaS FinTech company, Perfios, who themselves snagged a whopping $229m in their Series D round.
Whilst the pair produced the vast majority of this weeks’ $1.069,375bn, there were still large coups elsewhere, as Beam Benefits landed $40m in the highest InsurTech deal of the week, while US cybersecurity company DER bagged $39m in their own right.
DER’s funding was one 12 US FinTech deals over the past seven days, as the global powerhouse continued their dominant run as the lead producer of deals in the space. The UK followed behind, albeit distantly with four deals done, in a case of normal service being resumed for the two nations.
No other country secured more than the solitary deal, but France, Estonia, Australia, India, Italy, and Switzerland were all represented in a diverse week for FinTech funding rounds.
The aforementioned Perfios deal even saw India secure a higher amount of capital this week than any other nation outside of the United States. The southeast Asian nation landed $229m, dwarfing the $37.25m secured by the United Kingdom.
In terms of sector-by-sector numbers, FinTech and RegTech led the way with six deals apiece, ahead of CyberTech, in a productive week for organisation’s focusing on sectors related to anti-fraud and compliance.
WealthTech secured three deals, InsurTech landed two, while the PayTech space only had one deal, for Australian firm, AMP.
Here are the 23 funding rounds from the past week.
Databricks valuation skyrockets to $43bn after $500m funding round
Databricks, a leading analytics and AI platform, announced today that it has successfully raised $500m in a new funding round.
The round was led by T. Rowe Price Associates, joined by new investors Nvidia and Capital One Ventures.
Founded in 2013 by the original creators of Apache Spark, Databricks has made a name for itself with its unique “lakehouse” platform. This platform combines the functionalities of data warehouses and data lakes, unifying data, analytics, and AI on a single cloud-based platform. Customers can govern, manage, and derive insights from their enterprise data more effectively, accelerating their AI and analytics projects.