Smaller deals dominated the FinTech sector this week, with a total of $637m raised across 21 deals.
Of the 21 deals, there were only five companies to raise raise more than $15m. Despite this, there were still three deals that exceeded $100m, with the largest deal of the week being a $200m Series E secured by Ramp.
Ramp, which offers an all-in-one financial platform for payments, corporate cards, procurement, travel booking, vendor management and automated bookkeeping, raised $200m in a round that boosted its valuation to $16bn. The investment was led by Founders Fund, which is the FinTech’s largest investor.
The other two deals to surpass $100m were private markets platform Juniper Square, which raised $130m, and full-stack observability platform Coralogix, which netted $115m.
This week’s total FinTech funding is a significant drop from the previous week, which saw a total of $1.42bn raised across 19 deals. Last week’s funding was bolstered by an impressive $540m Series C round raised by CyberTech Cyera.
Another notable difference between the weeks is the amount of CyberTech deals. Last week, CyberTech dominated the landscape with seven deals. However, there was just one CyberTech deal this week.
PayTech came out on top this week, accounting for eight deals in total. These were Salmon, Payabli, Tensec, GrailPay, SaturnX, Instapay, Glyde and Icon Solutions. It was then followed by six WealthTech deals (Juniper Square, Grifin, NaroIQ, XFOLIO, Colossus Digital and Carefull).
Infrastructure and enterprise software was the only other sector to record multiple deals this week. These companies were Ramp and Winch Farms.
The other sectors represented were CyberTech (Circumvent), InsurTech (Vertical Insure), RegTech (Supply Wisdom), data and analytics (Coralogix) and PropTech (Prop-AI).A total of $637m raised across 21 FinTech deals this week
In terms of location, the US housed the most deals. The country was home to 10 of the deals this week. Interestingly, it was also home to nine of the ten biggest deals of the week. The only other country to feature in the top ten was the Philippines with Salmon.
The US companies to secure funds this week were Ramp, Juniper Square, Coralogix, Payabli, Supply Wisdom, Tensec, Grifin, Vertical Insure, GrailPay and Carefull.
The UK and UAE were the only others to record multiple deals in the week. Glyde and Icon Solutions were the UK FinTechs, while SaturnX and Prop-AI were the UAE FinTechs.
Other countries represented this week included Germany (NaroIQ), Australia (Circumvent), Malaysia (Instapay), France (XFOLIO), Italy (Colossus Digital) and Nigeria (Winich Farms).
Recent research from FinTech Global found that the US cemented its global FinTech leadership in the first quarter of 2025, attracting half of the top deals.
The data also found that the global FinTech sector had a slow quarter with the total number of deals dropping from 1,838 in Q1 2024 to 845 in Q1 2025. Similarly, the total funding declined from $34.9bn to $21.6bn.
Here are the 21 FinTech deals covered on FinTech Global this week.
FinOps leader Ramp hits $16bn valuation with $200m raise
Ramp, a financial operations platform based in the US, has raised $200m in a Series E funding round that values the company at $16bn.
The round was once again led by Founders Fund, marking the firm’s continued commitment as Ramp’s first and largest investor.
The funding also drew participation from a broad group of high-profile investors, including Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.
Founded in 2019, Ramp offers an all-in-one finance platform that combines payments, corporate cards, procurement, travel booking, vendor management, and automated bookkeeping. The platform is designed to improve financial efficiency for businesses by using artificial intelligence to optimise how money and time are spent.
The newly secured capital will be used to enhance Ramp’s AI-powered product suite and further its mission of helping companies save both money and time. The company has stated that half of its customer base uses multiple tools within its integrated platform, which reflects the growing demand for comprehensive financial solutions.
Currently, Ramp serves over 40,000 businesses including prominent names such as CBRE, Shopify, Anduril, Notion, and Vercel. The platform supports more than $80bn in annualised transaction volume, and according to Ramp, it has helped customers save $10bn and 27.5m hours to date.
Private markets platform Juniper Square secures $130m Series D
Coralogix raises $115m to scale AI observability tools
Coralogix, a full-stack observability platform provider that leverages AI to optimise system monitoring and performance analytics, has secured $115m.
The Series E round was led by NewView Capital, with participation from Canada Pension Plan Investment Board (CPPIB) and NextEquity, a venture firm established by former Apple executives Avie Tevanian and Fred Anderson.
Existing investors including Advent International, Brighton Park Capital, Revaia, Greenfield Partners, Red Dot Capital Partners, O.G. Tech, Joule Capital Partners, and Maor Investments also returned to support the round, which brings Coralogix’s valuation above $1bn.
Founded to transform how businesses approach observability, Coralogix provides AI-driven tools that help DevOps and engineering teams gain real-time visibility into their systems. The company’s technology focuses on detecting anomalies, improving system reliability, and accelerating root cause analysis across complex environments.
With the new capital, Coralogix plans to expand its AI and security capabilities, including further investment into its AI research centre. The funds will also support the continued development of its new AI agent, Olly, which is designed to make observability insights more accessible across the enterprise.
Olly, a recently launched AI agent, is positioned as a transformative tool that goes beyond conventional observability. Rather than merely surfacing data, Olly proactively guides users through questions, uncovers insights, and recommends actionable steps. The tool aims to make observability intuitive and useful for both technical and non-technical users, enhancing decision-making and operational efficiency.
FinTech firm Salmon secures $88m to expand in Philippines
Salmon has raised $88m to expand its presence in the Philippines and scale its operations across Southeast Asia.
The latest funding round comprises a $60m drawdown from a 3-year $150m Nordic bond framework and $28m in new equity. The equity portion attracted participation from leading US institutional investors, Antler Elevate, and existing shareholders including the International Finance Corporation, ADQ/Lunate, Northstar, Back in Black Capital, and prominent Filipino investors. The equity round was led by venture capital firm Spice Expeditions.
Salmon provides consumer credit and digital banking solutions through its financing company and a BSP-regulated bank in the Philippines. The company positions itself as a challenger to traditional banks in the region, focusing on providing innovative, tech-enabled financial services that enhance access to credit for underserved populations.
The capital raised will enable Salmon to strengthen its footprint in the Philippines and pursue broader expansion across Southeast Asia. The bond issuance also marks a milestone as the first Nordic bond ever issued by a technology firm in Southeast Asia.
The company currently offers four consumer credit products and is present both online and in over 3,000 locations nationwide. Its banking app ranks among the highest-rated in the Philippines, with 4.8 stars on the App Store and 4.7 on Google Play. Salmon’s BSP-regulated bank offers an 8.88% deposit rate, the highest in the country, which the firm attributes to its tech-driven efficiencies and lean infrastructure.
Payments platform Payabli lands $28m in Series B funding
Risk intelligence firm Supply Wisdom raises $14m
Supply Wisdom, a real-time risk intelligence platform powered by AI, has raised $14m in a Series B round and appointed Jenna Wells as its new CEO.
The investment was led by Jurassic Capital. The funding will be used to support product innovation and accelerate the company’s growth.
Based in the US, Supply Wisdom offers a SaaS platform that continuously monitors third-party and supply chain risks across multiple domains, including financial, cyber, ESG, operational, and compliance. The platform provides real-time alerts and predictive insights to help enterprises manage disruption and stay compliant.
Wells, formerly the company’s chief operating officer, brings nearly two decades of experience in intelligence and risk management across both public and private sectors. She has previously led third-party risk at Iron Mountain and Wellington and served as a US Marine Corps officer.
Tensec bags $12m to modernise SMB cross-border finance
Tensec, a company focused on transforming cross-border financial services, has raised $12m in a seed funding round aimed at disrupting the $190tn global payments market.
The investment round was led by Costanoa Ventures, with participation from Quiet Capital, WillowTree Investments, Cambrian VC, Ignia Partners, Montage Ventures, Renegade Partners, and Endeavor Scale Up Ventures.
Tensec offers a real-time, no-integration platform that enables global trading companies to deliver foreign exchange, cross-border payments, treasury services, and transaction banking directly to their clients—primarily small and medium-sized businesses (SMBs) that are often overlooked by traditional financial institutions.
With the newly secured capital, Tensec plans to accelerate its global expansion, particularly targeting the APAC and EU markets. The firm anticipates supporting $30bn in annual trade volume through its platform, up from the current $10bn. The funding will also be used to enhance product features and scale the company’s infrastructure.
The company’s platform provides end-to-end financial services without the need for APIs or coding, enabling onboarding in minutes. Clients benefit from real-time FX rates, compliance automation, and access to banking services in over 150 countries and 70 currencies, supported in the US through Stearns Bank, Member FDIC.
Investment app Grifin raises $11m Series A for growth
Grifin, a US-based FinTech company that links investing to consumers’ daily spending habits, has raised $11m in a Series A funding round.
The round was led by Nava Ventures, with backing from TTV Capital, Draper Associates, Gaingels, Nevcaut Ventures, and Alloy Labs. Freddie Martignetti, partner at Nava Ventures, will also join Grifin’s board of directors as part of the deal.
Grifin offers a unique mobile app that automatically invests in the brands users spend money on in real life. For example, when a user buys something from Walmart or Starbucks, the app invests $1 in that company’s stock. This automation is designed to demystify investing and make stock ownership feel natural and accessible to everyday consumers.
The newly raised capital will be used to expand the team, form new partnerships with HR platforms and consumer brands, launch family investment plans, and further develop Grifin’s product to meet growing user demand. The company also intends to add new features that support long-term wealth-building and accessibility for under-invested groups.
The company’s model is especially focused on closing the investment gap in the US, where 86% of Americans don’t own stock directly and 73% have no money in retirement accounts or mutual funds. By connecting investment to behaviour, Grifin hopes to build confidence in users and create habitual investing practices.
Vertical Insure lands $8.5m raise
Vertical Insure, a Minneapolis-based InsurTech has raised $8.5m in equity financing, as disclosed in a Form D filing with the SEC on 12 June.
The round began on 2 June and included 12 investors, according to the Coverager. With this latest raise, Vertical Insure’s total disclosed funding stands at $14.52m across three rounds.
Vertical Insure’s core offering enables B2B SaaS platforms—particularly in sectors such as travel and youth sports—to embed insurance products into their platforms.
These include gap medical, trip cancellation, event liability, and refund protection options. The startup’s strategy aims to improve accessibility and customer conversion for partner platforms through seamless coverage options.
The proceeds from the latest round are expected to be channelled into enhancing its platform, expanding insurance offerings—especially in travel and sports—and scaling its go-to-market strategy through new partnerships and integrations.
Bank payments platform GrailPay secures $6.7m funding round
GrailPay, a New York-based risk platform for bank payments and ACH payment processing, has raised $6.7m to fuel its growth.
The funding round was led by Construct Capital, with participation from Commerce Ventures, Broadhaven Ventures, Soma Capital, Grasshopper Bank, and a network of FinTech operators and angel investors. This latest investment follows an earlier round led by Noemis Ventures.
Founded in 2021, GrailPay provides integrated infrastructure for FinTechs and financial institutions to move money faster and more securely. Its platform is designed to address the long-standing risks associated with ACH transactions by applying modern intelligence and predictive analytics throughout the payment lifecycle.
The company plans to use the new capital to expand its product and engineering teams, strengthen its go-to-market operations, and introduce new features.
ACH transactions remain central to the U.S. financial system, processing over $86tn last year. However, the sector still struggles with fraud, credit risk, and operational issues. While credit card networks have benefitted from years of innovation, bank payments often rely on outdated systems and manual reviews.
GrailPay’s technology delivers real-time signals and predictive analytics for account enrolment, transaction monitoring, and merchant underwriting. Its solutions are used by payment platforms, lenders, FinTech firms, and software vendors to minimise failed payments, improve decision-making speed, and automate various processes. The platform’s modular design allows customers to use its intelligence features independently or alongside its ACH processing capabilities.
NaroIQ raises $6.5m to simplify ETF creation and access
Berlin-based NaroIQ, a FundTech company focused on digitising ETF and fund creation, has secured $6.5m in seed financing to accelerate the growth of its modular infrastructure platform for asset managers and fund initiators.
The round was led by Magnetic Capital and included participation from Redstone, 14Peaks Capital and Angel Invest. Existing investors General Catalyst and Discovery Ventures also increased their investment in the company.
NaroIQ enables capital management companies and digital platforms to launch and manage ETFs and funds efficiently, by offering a plug-and-play infrastructure that streamlines fund issuance and administration. The firm positions itself at the forefront of the transition from mutual funds to ETFs, aiming to make fund creation more accessible and cost-effective.
The firm is responding to mounting pressure in the asset management industry, where rising administrative costs and margin compression have created barriers for smaller players. NaroIQ believes its modular and technology-first approach is essential to preserving a diverse and competitive fund ecosystem, countering the growing dominance of a few major providers.
Circumvent lands $6m to scale AI cloud security platform
Australian cloud security company Circumvent has raised $6m in seed funding to accelerate its AI-driven platform aimed at transforming how enterprises handle security alerts and remediation.
According to Security Week, the round was led by Paladin Capital Group, a global investor known for backing early-stage cyber and national security-focused firms.
Circumvent’s platform leverages artificial intelligence to correlate and enrich security alerts from diverse sources—including cloud providers, open-source platforms, and third-party security tools. By aligning alerts with real-time business context, it enables enterprises to filter out noise, prioritise actual risks, and streamline remediation through intelligent automation.
The funding will be used to drive product development and strengthen customer engagement. The company plans to retain its R&D operations in Australia while setting up a commercial headquarters in San Francisco, a strategic move aimed at expanding its presence in the US market and enhancing support for global clients.
Circumvent’s platform includes a Multi-Agent AI System that learns from a company’s environment and integrates remediation tasks into existing DevSecOps workflows. The system supports one-click fixes directly through customers’ code repositories and helps firms enforce tailored security policies aligned with compliance standards.
FinTech SaturnX lands $3m to scale cross-border payments
SaturnX, a Dubai-based stablecoin payments infrastructure company, has raised $3m in a seed funding round.
The round was led by White Star Capital, with additional backing from strategic institutional investors.
The company, founded by Mirnas Brescic, offers an API-first platform designed to simplify stablecoin-based cross-border payments for businesses and financial institutions. In its first five months of operation, SaturnX has already processed more than $250m in transaction volume while maintaining profitability.
With the new capital, SaturnX plans to accelerate its expansion into key payment corridors across Southeast Asia, targeting markets such as the Philippines, Bangladesh, Indonesia and Pakistan. The funds will also help bolster its regulatory framework and further develop its end-to-end API platform tailored for enterprise-grade stablecoin payments.
SaturnX aims to position itself as a vital backend provider for borderless payments by modernising cross-border money movement through instant, low-cost stablecoin transfers for financial institutions, FinTechs, and remittance providers.
The company operates by pre-funding stablecoin liquidity pools in strategic markets, offering real-time FX pricing aggregation, and ensuring compliance through partnerships and licensing frameworks. Its main payment corridor between the Gulf region and South Asia already supports hundreds of millions in annual volume.
Instapay raises $3m to expand cross-border remittances
Malaysian FinTech firm Instapay Technologies has successfully closed a $3m Series A2 funding round, backed by a consortium of US-based family offices and existing investor ACA Investments, a Japanese investment firm headquartered in Singapore.
This fresh capital injection will support Instapay’s efforts to expand its product suite and enter new markets, according to a report from TNGlobal.
Instapay’s platform is tailored to the financial needs of workers in Malaysia, providing a mobile-linked Mastercard for seamless salary disbursements. The solution is regulated by Bank Negara Malaysia and promotes both payroll efficiency and financial inclusion for underserved populations.
Operating in Malaysia—a key destination for low-skilled migrant workers from across South Asia—Instapay is focused on helping employers manage payroll in a compliant and inclusive manner. At the same time, it aims to integrate workers into the digital economy, offering them secure and convenient ways to receive wages, make purchases, and send money home.
Enterprise WealthTech XFOLIO lands $2m seed funding
XFOLIO, a French and Lebanese-based FinTech company redefining institutional wealth management, has successfully closed a $2m seed funding round.
The investment was fully provided by Middle East Venture Partners (MEVP), and will enable XFOLIO to accelerate its product development, expand into new markets across MENA and Europe, and form strategic partnerships.
Founded in 2024 by serial entrepreneur Anis Rahal, who previously founded TreasuryXpress before it was acquired by Bottomline Technologies, XFOLIO offers a unified platform that merges portfolio management and treasury automation into a single cloud-based system.
The platform is designed to help financial institutions, family offices and wealth managers consolidate, automate and visualise both bankable and non-bankable assets. It leverages financial messaging standards to deliver a first-of-its-kind application that addresses growing demand for streamlined digital solutions.
The newly secured capital will support the company’s go-to-market strategy and fund the development of AI-powered recommendation tools and cross-bank trading features.
Prop-AI secures $1.5m to revolutionise real estate with AI
Dubai-based Prop-AI, an AI-driven PropTech company transforming how individuals and institutions navigate the property market, has raised $1.5m in pre-seed funding.
The funding round was led by MENA-focused investor Plus VC, with participation from Joa Capital, Select Ventures, Oraseya Capital, and Plug & Play, according to a report from Wamda. The round also drew backing from strategic angel investors and family offices across Saudi Arabia and Bahrain.
Founded in 2023, Prop-AI aims to simplify property discovery, analysis, and decision-making using artificial intelligence and machine learning. Its technology streamlines real estate evaluations for a wide range of users, from first-time buyers to institutional investors, allowing them to make data-informed decisions in fast-moving markets.
The newly secured capital will support Prop-AI in scaling its AI capabilities and strengthening regional data integration. It also plans to expand partnerships with developers, brokerages, and financial institutions across MENA. Additionally, the company is launching a refreshed user interface and advanced features such as an interactive investor map, which aggregates key market data to guide investment strategies more intuitively.
Colossus Digital secures €1m ($1.1m) from SBI Ven Capital
Colossus Digital, a Rome-based FinTech firm specialising in institutional digital asset solutions, has secured €1m in new funding.
The bridge round was led by SBI Ven Capital, which invested through its joint fund alongside Sygnum Bank and Azimut Group. The funding aims to support the continued development of Colossus Digital’s Institutional Hub, a B2B marketplace designed to streamline institutional access to staking and governance services.
Colossus Digital operates a platform that allows regulated custodians and top-tier validators to connect through its Institutional Hub. The platform enables digital asset holders to engage with staking, governance, and DeFi protocols directly from custody accounts. Supporting transactions across more than 25 blockchains and numerous validators, the solution offers native, compliant, and verifiable access to yield-generating services for institutions.
The newly secured funds will help Colossus Digital further scale the Institutional Hub, improve custody-to-staking workflows, and expand its global client base.
FX FinTech Glyde raises £450k to reshape global transfers
Glyde, a UK-based FinTech company aiming to bring greater transparency and control to foreign exchange, has raised £450,000 in pre-seed funding.
The round was led by Fuel Ventures, an investor known for backing early-stage technology firms. The new capital will be used to expand Glyde’s engineering team, speed up product development, and grow the company’s presence in the UK and international markets.
Founded by brothers Ellis and Nathan Taylor, Glyde is building a cross-border currency platform designed to serve freelancers, global earners, and growing businesses. The platform allows users to send, receive and convert money across more than 50 currencies—without brokers, middlemen, or hidden fees.
Unlike traditional providers, Glyde users can select their own exchange rates, giving them full visibility and improved cost control. The company claims users can save up to three times the fees typically charged by leading players such as Revolut.
To further its mission of transparency in the FX market, Glyde has launched an online calculator that exposes hidden fees charged by other providers. The calculator does not require user data and offers a real-time comparison of true currency exchange costs.
FinTech firm Carefull secures funding from CIBC Innovation
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