New FinTech unicorn activity during October reaches highest level in 2023

New unicorn levels have picked up in October with nine reaching status in the month, the highest levels since the same period last year. FinTech unicorns accounted for a third of these across three different sectors: RegTech, Lending Technology and Infrastructure & Enterprise Software. The FinTech companies reaching unicron status include:
Prove, an identity authentication platform headquartered in New York, secured $40 million in funding, with leading investments from strategic backers Capital One Ventures and MassMutual Ventures. This funding round placed the 15-year-old company’s valuation at $1 billion.

Lendbuzz, a startup specializing in car financing and based in Boston, raised a total of $45 million in equity and $300 million in debt, with primary support coming from insurance holding company Group1001. This eight-year-old company’s valuation now stands at $1.1 billion.

Sydney, Australia, has birthed its latest unicorn company in the form of Employment Hero, a provider of HR and payroll services. Joining a select group of ten other current unicorns from the continent, this cloud-based firm secured a substantial $267 million in Series F funding, with TCV leading the way. The company, which has been in operation for nine years, is now valued at $1.3 billion.

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