A $100m funding round secured by ESG FinTech Watershed was the highlight of a slow week of FinTech funding round deals.
The slow week for investment saw only a total of 12 deals finalised, for a relatively paltry sum of $317.3m – a massive drop off from last week’s total of over $1bn.
Watershed’s staggering tranche salvaged this. It was so impactful that it accounted for almost a third of the total investment secured in the space.
The pioneering firm, which operates in the climate economy sector secured the deal in a monumental Series C funding round, which propelled its valuation to an impressive $1.8bn. Greenoaks spearheaded this funding injection, with significant contributions from Kleiner Perkins, Sequoia, and other existing stakeholders.
Across the globe, the USA dominated the funding landscape, securing a lion’s share of the investment, with 9 deals. Meanwhile, Canada, Switzerland, and Chile also joined the funding fray with one deal each.
Interestingly, the UK, a usual FinTech hub, did not register any deals during this period.
The funding landscape was diversely populated with sub-sectors making significant strides. General FinTechs performed well with 3 deals, while InsurTech and RegTech took the lead with 4 deals each. WealthTech secured one substantial deal, contributing to the overall momentum.
Here are this week’s FinTech funding rounds:
ESG FinTech Watershed raises $100m, hitting $1.8bn valuation
NEA spearheads Metronome’s $43m Series B investment round
Oasis Security clinches $40m for cutting-edge non-human identity solutions
AVLA secures $25m to enter US market
MIC Global bags $6m in funding round led by Launchpad Capital
The funding round also saw participation from Greenlight Re, Ironsides Partners, and existing investors, according to The Coverager.
This funding round marks a significant milestone for MIC Global, reinforcing its position as a key player in the microinsurance sector.
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