FinTech funding surged to nearly $2bn this week across 25 deals, as monster deals from Waystar and Capital on Tap stole the headlines.
Throughout the landmark week, the two deals roared past the much vaunted $500m mark, with Israeli CyberTech firm dream also securing a $100m tranche.
The USA and UK remained dominant in FinTech funding this week, securing the majority of deals and capital raised. Out of the 25 total deals, the USA led with 13, while the UK followed with 3, reinforcing their positions as traditional strongholds for financial innovation. However, funding activity extended well beyond these key markets, with companies in Israel, Germany, Czechia, the UAE, Australia, the Netherlands, and Canada also securing investments, showcasing the global reach of FinTech growth.
The largest US deals included Waystar’s $800 million raise in PayTech and SGNL’s $30 million in RegTech. The country also saw notable activity in CyberTech, InsurTech, and enterprise software, with firms like Covu ($22 million), DiligentIQ ($12 million), and Gomboc AI ($13 million) landing key funding rounds.
In the UK, Capital on Tap’s massive $750 million marketplace lending round led the way, followed by Nothreat’s $40 million CyberTech funding. The UK also saw a smaller but strategic infrastructure deal with E-Money Markets raising $0.7 million.
Beyond these powerhouses, Israel’s Dream secured $100 million in CyberTech, reinforcing the country’s reputation for security innovation. Germany’s Muffintech landed $3.5 million in InsurTech, while Czechia’s Whalebone raised $13.35 million, furthering the region’s cybersecurity ambitions. The UAE also saw an undisclosed InsurTech deal with MENA InsureLab, signaling investor interest in the Middle East’s growing FinTech ecosystem.
In Australia, MyPass raised $4.7 million in RegTech, supporting digital identity solutions, while the Netherlands saw a $10 million infrastructure deal with STACKS. Canada’s Glassbox also secured $1.2 million in enterprise software, rounding out a strong week for global FinTech funding.
This week’s FinTech funding covered a diverse range of sectors, with CyberTech and InsurTech leading the way with five deals each, followed closely by RegTech (four deals) and infrastructure & enterprise software (four deals).
Marketplace lending and PayTech saw two major deals each, driven by the week’s largest rounds, while WealthTech and ESG FinTech each recorded one deal.
The strong spread of investments highlights continued investor confidence across compliance, security, lending, and digital payments.
Waystar, a leading provider of healthcare payments software, has announced the pricing of its public offering of common stock.
The company, which facilitates healthcare transactions and financial operations for providers, serves around 30,000 clients across the U.S.
The offering involves 20 million shares of Waystar’s common stock, priced at $40 per share, raising $800m for investment funds managed by EQT AB, Bain Capital, and Canada Pension Plan Investment Board (CPP Investments), along with their affiliates. Additionally, these investors have granted underwriters a 30-day option to purchase up to 3 million additional shares.
Waystar itself is not selling shares and will not receive any proceeds from the offering. The transaction is expected to close on or around 24 February 2025, subject to standard closing conditions.
Waystar’s software is designed to simplify healthcare payments, enabling providers to focus on patient care while improving financial efficiency. The company’s platform processes over six billion healthcare payment transactions annually, handling more than $1.8trn in gross claims and covering nearly 50% of U.S. patients. Its technology serves major healthcare institutions, including 16 of the top 20 hospitals on the U.S. News Best Hospitals Honor Roll.
Capital on Tap lands £750m in new funding to expand SME credit services
Capital on Tap has secured two major funding facilities worth £750m to support its expansion and further enhance financial services for small businesses across the UK and US.
The company has established a £550m Master Trust facility with BNP Paribas and Citi, making it the first non-bank credit card master trust set up in Europe since 2015. This innovative structure is expected to improve Capital on Tap’s ability to scale its lending operations, enabling better access to funding for small businesses.
In a separate transaction, Capital on Tap has doubled its corporate revolving credit facility with Blue Owl from £100m to £200m. This expansion will provide additional support for the company’s growing operations in the UK and US, reinforcing its commitment to small business growth.
Dream lands $100m in Series B to bolster national cybersecurity efforts
Dream, an AI firm focused on cybersecurity for national defense and critical infrastructure, has raised $100m in a Series B funding round.
This significant investment was led by Bain Capital Ventures and places the company at a valuation of $1.1bn. Other key investors include Group 11, Tru Arrow, Tau Capital, and Aleph, showcasing strong confidence in Dream’s innovative approach to cybersecurity.
Dream is dedicated to reshaping cybersecurity through advanced AI technologies. The firm specializes in creating AI models that simulate the strategies of both cyber defenders and attackers. This dual perspective enables Dream to preemptively counteract threats before they can cause harm, addressing the increasing sophistication and frequency of cyberattacks.
The newly acquired funds will be used to further develop Dream’s proprietary Cyber Language Model (CLM). This groundbreaking suite of language models is specifically tailored for cybersecurity operations, facilitating rapid and accurate threat detection and response. Additionally, the investment will support Dream’s strategic expansion into new markets that face significant cybersecurity challenges, ensuring broader access to their critical services.
AI-driven cybersecurity firm Nothreat secures funding at £40m valuation
Nothreat, an AI-driven cybersecurity company focused on securing IoT (Internet of Things) environments, has successfully closed its seed funding round, confirming a £40m valuation.
The investment, led by Algara Group, highlights growing confidence in Nothreat’s ability to tackle emerging AI-powered cyber threats.
The exact funding amount remains undisclosed.
Nothreat has developed AIoT Defend, a cutting-edge software-based firewall tailored for IoT devices. AIoT Defend is lightweight and designed to integrate directly into edge devices, providing real-time, adaptive protection. The system leverages advanced AI trained on high-quality data to detect and neutralise cyber threats, including zero-day attacks, while simplifying security management.
With the new funding, Nothreat plans to expand its AI security research and extend its market reach.
The company is working with Lenovo to enhance IoT security and is supporting cybersecurity efforts at COP29, a major climate conference organised by the United Nations. Additionally, it is securing the digital infrastructure of Pafos FC, a leading European football club.
The investment, led by Algara Group, highlights growing confidence in Nothreat’s ability to tackle emerging AI-powered cyber threats.
The exact funding amount remains undisclosed.
Nothreat has developed AIoT Defend, a cutting-edge software-based firewall tailored for IoT devices. AIoT Defend is lightweight and designed to integrate directly into edge devices, providing real-time, adaptive protection. The system leverages advanced AI trained on high-quality data to detect and neutralise cyber threats, including zero-day attacks, while simplifying security management.
With the new funding, Nothreat plans to expand its AI security research and extend its market reach.
The company is working with Lenovo to enhance IoT security and is supporting cybersecurity efforts at COP29, a major climate conference organised by the United Nations. Additionally, it is securing the digital infrastructure of Pafos FC, a leading European football club.
SGNL’s $30m funding boost to transform legacy access security
SGNL, a fast-growing identity-first security startup, has just secured a substantial $30m in Series A funding to propel its mission forward.
This significant financial injection is aimed at redefining how businesses safeguard their most vital assets.
The funding round was spearheaded by Brightmind Partners, a security-focused investment firm co-founded by Stephen Ward, a former partner at Insight Partners and ex-CISO of Home Depot with a background in cybersecurity for the Secret Service.
The round also saw participation from notable investors including Costanoa Ventures, Microsoft’s M12, and Cisco Investments, indicating a robust confidence in SGNL’s innovative approach. This latest round brings SGNL’s total funding to $42m since its inception in 2021.
The company plans to use the new funds to expand its go-to-market efforts, accelerate product development, and enhance customer support. These steps are critical as SGNL continues to grow its presence and redefine access management in a cloud-driven world.
Delfina raises $17m to transform maternal care with predictive AI technology
Delfina has secured $17m in a Series A funding round, signalling strong investor confidence in the company’s ability to reshape maternal healthcare through advanced AI technology.
The round was led by US Venture Partners (USVP) and saw participation from ARTIS Ventures, Mayo Clinic, Tokio Marine Future Fund, as well as existing investors including Story Ventures, SemperVirens, Bread and Butter Ventures, Boutique Ventures, and Chelsea Clinton’s Metrodora Ventures.
The San Francisco-based company leverages AI-powered predictive analytics and proactive care interventions to address the alarming maternal health crisis in the United States.
Delfina’s platform seamlessly integrates with primary prenatal care teams to create personalised, data-driven healthcare plans aimed at reducing maternal mortality and improving outcomes for mothers and babies.
CredCore raises $16m to accelerate AI-driven credit investing and management
AI-powered credit investment platform CredCore, which specialises in transforming debt capital markets for lenders and borrowers, has secured $16m in a Series A funding round.
The round was led by Avataar Ventures, with additional backing from Inspired Capital, Fitch Group, BellTower Partners, and senior executives from asset management and financial services.
CredCore is tackling inefficiencies in the enterprise credit sector, which sees $5trn in transactions annually but has been slow to adopt technological innovation.
The company’s AI-driven platform enhances deal execution by enabling customers to accelerate transactions and scale their teams and assets under management (AUM). The platform has gained significant traction, already supporting major asset managers and corporations in the US, overseeing over $650bn in AUM.
Cybersecurity firm Whalebone raises €13.35m to expand global footprint
Whalebone, a cybersecurity firm specialising in protecting telecommunications networks, has raised €13.35m ($14m) in Series B funding.
The investment round was led by London-based Unbound, with participation from existing investors, including Day One Capital and early angel investors.
The funding will support Whalebone’s strategic initiatives, including global expansion, customer success enhancements, and accelerating its product roadmap. The company also aims to strengthen its presence in the enterprise and public sectors while boosting its threat intelligence capabilities.
Whalebone provides cybersecurity solutions tailored for telecommunications providers, enterprises, and public institutions. The company’s technology delivers seamless protection against malware, phishing, and ransomware attacks, ensuring a secure digital environment without requiring software installation. Its technology is used by financial institutions to protect staff from online threats.
Gomboc AI raises $13m to revolutionise cloud security with deterministic AI
Gomboc AI, a cybersecurity startup focused on cloud security remediations, has raised $13m in seed funding to accelerate its efforts in automating security fixes.
The round included an $8m investment led by Ballistic Ventures, with continued backing from Glilot Capital Partners and Hetz Ventures, which had co-led the company’s initial $5m seed funding.
The company was founded to address the mounting security backlog that hampers business transformation. Its platform, developed by co-founder and CEO Ian Amit, aims to eliminate inefficiencies in cloud security management by automating the remediation of security vulnerabilities. Amit, a former chief information security officer (CISO), was driven by the overwhelming number of security tickets and vulnerability reports he encountered while overseeing security for 15 businesses under a single corporate entity.
Gomboc AI’s platform differentiates itself by using a deterministic AI engine rather than generative AI or static templates. The technology integrates with cloud infrastructure via Infrastructure as Code (IaC), enabling accurate, repeatable, and context-aware code fixes while maintaining functionality.
DiligentIQ lands $12m in Series A to enhance private equity due diligence
DiligentIQ, a NYC-based GenAI platform for private equity due diligence, has successfully closed a $12m Series A funding round in two tranches.
According to FinSMEs, the investment was spearheaded by FINTOP Capital and partner JAM FINTOP. This significant financial injection marks a pivotal moment for DiligentIQ as it aims to deepen its footprint in the private markets.
The company is designed to streamline the due diligence process in private equity investments. By leveraging advanced AI technology, DiligentIQ swiftly processes and analyses deal documents typically found in virtual data rooms (VDRs). This capability allows it to categorize and extract essential insights efficiently, thereby facilitating faster and more accurate decision-making for investment professionals.
With the new funds, DiligentIQ plans to scale its operations significantly. The primary use of the capital will be to expand the team, accelerate product innovation, increase integration capabilities, and enhance its go-to-market efforts. These strategic moves are geared towards supporting the company’s expansion and consolidating its position in the private market sector.
MANSA raises $10m to tackle liquidity challenges in cross-border payments
MANSA, a global FinTech firm specialising in cross-border payments, has successfully closed a $10m funding round.
The company aims to alleviate liquidity challenges for payment firms worldwide through its stablecoin-based solutions, according to FF News.
The funding round includes a $3m pre-seed investment led by Tether and co-led by Polymorphic Capital, with additional participation from Octerra Capital, Faculty Group, and Trive Digital.
An additional $7m in liquidity funding was secured from institutional investors, including corporate backers, quantitative funds, and alternative investment firms.
MANSA’s platform provides payment providers across emerging and mature markets with flexible liquidity solutions for cross-border transactions. By leveraging stablecoins, the company offers a faster, more cost-efficient way to settle payments while reducing transaction delays.
The new capital will be used to drive MANSA’s expansion into Latin America and Southeast Asia, where demand for efficient cross-border payment solutions continues to grow.
FinTech firm Stacks lands $10m to transform financial close with AI
Stacks, an AI-driven financial close platform, has raised $10m across two funding rounds led by EQT Ventures and General Catalyst.
The funding, which includes a $3m pre-seed round and a $7m seed round, also saw participation from s16vc and notable angel investors, including Mike Taylor, CFO of Gusto, and Simone Rüschenberg, CFO at Taktile.
Founded by former Uber and Plaid executive Albert Malikov, Stacks aims to address inefficiencies in financial close processes, which remain heavily manual and error-prone despite the availability of modern tools.
The company’s AI-powered solution streamlines workflows, integrating seamlessly with Enterprise Resource Planning (ERP) software, Excel, and collaboration tools like Slack. Stacks enables finance teams to reduce accounting risk, improve accuracy, and significantly cut down close times.
ElectronX raises $10m to drive US renewable energy trading expansion
ElectronX, a financial infrastructure firm focused on electricity derivatives trading, has raised $10m in a strategic investment round.
The funding was led by Systemiq Capital, with participation from Equinor Ventures, Shell Ventures and Innovation Endeavors.
ElectronX previously secured a $15m seed round in June 2024, led by Innovation Endeavors.
ElectronX specialises in electricity derivatives trading, offering financial tools designed to hedge intraday price risks. The platform aims to address challenges in the US energy sector, particularly as rising demand from data centres and renewable energy integration creates market volatility.
MirrorTab raises $8.5m to combat advanced browser-based cyber threats
MirrorTab, a cybersecurity firm specializing in advanced web application protection, has secured $8.5m in a seed funding round.
The investment was spearheaded by Valley Capital Partners, with significant contributions from GV, Ludlow Ventures, Altman Capital Fund, NextGen Venture Partners, and Alumni Ventures.
This cybersecurity company offers a dynamic solution to protect web applications by using isolation technology that obfuscates data, code, and APIs, effectively removing the browser as a potential attack surface. This approach allows sensitive business, personal, and financial information to be shared securely.
The fresh capital will be utilized by MirrorTab to further develop its innovative capabilities, enhance integrations, and broaden its commercial availability. These developments aim to fortify its offering in the face of increasingly sophisticated cyber threats.
MyPass raises A$7.5m to expand digital credentials platform across North and South America
MyPass Global, a technology company specialising in workforce onboarding, compliance, and credential management, has secured A$7.5m ($4.7m) in Series A funding.
The round was led by Australian venture capital firm OneVentures.
The fresh capital will be used to accelerate MyPass’ expansion into North and South America while also driving product development.
Founded in Australia in 2013, MyPass has developed a digital Skills Passport designed to empower workers by allowing them to manage their training and competency records. The platform offers a centralised, portable, and digital solution for verifying qualifications.
More than 1,300 companies globally use MyPass to manage over 110,000 contractors. In 2024 alone, the platform onboarded 350 new organisations and validated more than 246,000 documents.
SRA Watchtower secures $4m to enhance FinTech risk management tools
SRA Watchtower, a financial technology platform, announced the successful closure of a new $4m funding round.
This round was spearheaded by existing investors FINTOP Capital, JAM FINTOP, and EJF Capital, underscoring their continued confidence in the company’s trajectory.
The platform, which specializes in offering advanced risk management and business intelligence solutions, has secured $4m to push forward its growth and expansion efforts. The recent acquisition of Lumio Insight, a move that has significantly bolstered its technological capabilities, further highlights this growth phase.
SRA Watchtower provides a comprehensive suite of tools that cater to the needs of bank leaders and risk committees, delivering essential data for informed decision-making. The platform is renowned for its holistic approach to risk and business intelligence, integrating powerful data analytics to support the financial industry’s evolving demands.
Berlin-based InsurTech muffintech secures €3.5m to scale AI-driven insurance solutions
Berlin-based InsurTech startup muffintech has raised €3.5m to enhance its AI-powered solutions designed for insurance companies and brokers.
The funding round was led by ff Venture Capital and Techstars, with participation from several Angel investors with deep roots in the insurance sector, according to EU-Startups.
Notable backers include former Ergo CEO Torsten Oletzky, former Gothaer board member Oliver Brüß, former insurance manager Stefan Liebig, InsurTech investor Daniel Feyler, and several prominent ‘finfluencers’. An additional €800k was provided through Investitionsbank Berlin’s IBB Pro FIT programme.
Glassbox launches AI-driven financial tools with $1.2m pre-seed funding
Glassbox, a Toronto-based startup specializing in financial technologies, has completed a pre-seed funding round, raising $1.2m.
The investment was spearheaded by FinTech Collective (New York) and StandUp Ventures (Toronto), with additional capital from Watertower Ventures (Los Angeles). This influx of funds marks a significant milestone for the young FinTech firm.
The company is on a mission to transform the traditional corporate finance sector. Glassbox aims to introduce a new era of financial tools that replace outdated, cumbersome spreadsheet models with a cutting-edge AI-compatible financial analysis platform. For decades, finance teams have been bogged down by complex Excel files and manual, error-prone processes. Glassbox’s innovative approach promises to streamline these workflows significantly.
The funds will primarily be used to expand Glassbox’s team and accelerate the development and market launch of their flagship product. This platform is designed to enhance real-time collaboration among finance professionals and integrate artificial intelligence to refine financial analysis and decision-making processes.
Atria AI raises £720k to transform legal workflows with generative AI
Atria AI, a provider of generative AI solutions for the legal industry, has secured £720,000 in a pre-seed funding round.
The investment was led by Fuel Ventures, with participation from a group of angel investors. The funding aims to support Atria AI’s mission of enhancing legal workflows through artificial intelligence.
The UK-based startup was founded by former top-tier lawyers and an ex-Googler, combining expertise in law and AI to create advanced legal technology. Its flagship product, Pathfinder, is an AI-powered platform designed to assist lawyers in managing key tasks such as tracking deadlines, obligations, and case timelines. The solution helps firms access actionable insights and bolster data security and compliance.
The newly raised capital will help Atria AI expand its suite of AI-driven solutions, with a particular focus on partnering with law firms to co-develop new platform modules.
E-Money Markets bags £700K to enhance SME payment tech
E-Money Markets, a London-based FinTech startup, has successfully raised £700,000 in pre-seed funding.
According to FinTech Finance, this early investment, spearheaded by CH-1 Investment Group along with several angel investors, is set to boost the company’s technological framework and product offerings.
The startup specializes in financial technology, focusing primarily on foreign exchange and international payment solutions tailored for small to medium-sized enterprises (SMEs). E-Money Markets Ltd is addressing the gap in the market by providing advanced, yet user-friendly financial tools without the need for complex integrations.
The newly acquired funds are earmarked for several critical areas: enhancing the company’s technological infrastructure, expanding its range of FX and payment products, obtaining necessary regulatory licenses, and forging strategic partnerships within the FX brokerage industry. This financial injection is poised to facilitate wider adoption of their services, catering especially to brokers and SMEs.
Tax compliance SaaS Notice Ninja secures $500k seed investment for growth
Notice Ninja, a tax compliance SaaS platform, has raised $500k in a seed funding round from an existing investor.
The investment reflects confidence in the company’s innovative approach to automating tax notice compliance.
The company provides AI-powered tax notice compliance solutions that streamline processes for tax departments, payroll providers, professional employer organisations (PEOs), and corporations worldwide. By leveraging automation and machine learning, Notice Ninja aims to eliminate inefficiencies and reduce penalties associated with manual tax compliance processes.
The fresh capital will be used to accelerate product development, enhance market reach, and strengthen strategic partnerships.
Gracie Point raises fresh capital to fuel expansion in life insurance premium finance
Gracie Point, a global provider of life insurance premium finance, has successfully closed an equity capital raise backed by Searchlight Capital Partners and Hudson Structured Capital Management (HSCM Bermuda).
The funding will support the company’s ongoing expansion efforts.
The financial details of the capital raise were not disclosed. However, this marks Gracie Point’s fifth successful funding round since its inception. Searchlight, a private equity investment firm, and HSCM Bermuda, a specialist in re/insurance investments, bring not only capital but also deep industry expertise to help the company scale its operations.
Gracie Point specialises in life insurance premium financing, offering advisory services that integrate insurance, financing, and loan servicing. The company caters to affluent, high-net-worth, and ultra-high-net-worth clients, working closely with insurance agents and brokers to provide tailored financing solutions. With offices in New York, Toronto, and Hong Kong, Gracie Point serves clients across North America and Asia.
MENA InsureLab secures backing from TIC to boost InsurTech innovation
MENA InsureLab, an InsurTech accelerator and venture builder, has secured strategic backing from TIC Technology Innovation Capital, a US-based venture capital firm.
The investment comes from TIC’s $100m fund, which focuses on supporting early-stage technology companies. The firm employs a unique investment model, providing both financial backing and software development services in exchange for equity.
MENA InsureLab was founded to drive digital transformation in the insurance industry by fostering partnerships between established insurers and emerging startups. The accelerator aims to connect insurance firms with cutting-edge technological solutions, facilitating their adoption and integration.
With the fresh backing from TIC, MENA InsureLab intends to expand its operations, offering more funding opportunities, mentorship programmes, and market access for InsurTech ventures across the MENA region.
Youth digital banking firm Incent secures investment from Tyfone to enhance financial education
Incent, a leading provider of youth digital banking solutions for banks and credit unions, has received an investment from Tyfone, a digital banking solutions provider.
The investment aims to support Incent’s mission of equipping financial institutions with tools to promote financial literacy and responsible money management among children and teens.
The financial details of the investment were not disclosed.
Incent offers a fully integrated youth banking platform designed to build long-term relationships between financial institutions and their customers. The platform provides a secure, real-world banking experience tailored to children and teens, allowing banks and credit unions to maintain account ownership and transition young users to adult accounts when they turn 18.
With Tyfone’s backing, Incent plans to scale operations, expand its product offerings, and extend its reach to more financial institutions, parents, and children. The company remains an independent entity and will continue to provide an agnostic solution that integrates seamlessly with existing digital banking platforms.
