Hello Fintech Friends,
This week's headline raise is Rogo, which closed a $160 million Series D to scale its agentic AI platform across Wall Street's biggest institutions. Also making waves: Salmon closed a $100 million dual-tranche round to deepen its banking and lending push in the Philippines, and Goldman Sachs Alternatives led a $60 million Series C into Kashable, the employer-sponsored credit platform.
Stablecoins continued to attract capital. Squads raised $18 million to scale Altitude, its stablecoin-native financial operating system, while Belo pulled in $14 million to expand its stablecoin-powered wallet across Latin America. Segura closed an $8 million seed to bring WhatsApp-first insurance distribution to brokers across the region.
On the fund side, Northwestern Mutual Future Ventures closed a $150 million Fund III targeting fintech and insurtech startups, and Illuminate Financial closed a $135 million Early Growth Fund backed by eight major financial institutions to invest in Series B+ enterprise AI and fintech companies.
Please find another week of fintech financing events below.
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Stat of the Week
Digital asset investment products saw $1.2 billion in inflows last week, a fourth consecutive week of gains. This pushes total assets under management to $155 billion, with Bitcoin alone responsible for $933 million of that figure and $4 billion in year-to-date inflows, according to CoinShares.
Venture Financing
Rogo raised $160 million in a Series D to scale its agentic AI platform for financial services.
Salmon secured $100 million ($60 million equity, $40 million public bond) to accelerate its banking and lending platform in the Philippines.
Comfi raised $65 million in a Pre-Series A to scale its B2B embedded finance and BNPL platform for SMEs across MENA.
Kashable raised $60 million in a Series C to expand its employer-sponsored financial wellness and credit platform, led by Goldman Sachs Alternatives’ Sustainable Investing.
Versana raised $43 million to modernize digital infrastructure for the broadly syndicated loan and private credit markets.
Fence raised $20 million to modernize the infrastructure of asset-backed finance.
Squads raised $18 million to scale Altitude, its stablecoin-native financial operating system for businesses.
Zamp raised $17 million to scale its AI-powered sales tax compliance platform for accounting firms.
pmtbox closed a $15 million seed round to expand its unified merchant commerce platform integrating payments, risk, and data.
Deutsche Börse Group led a $14 million Series A in Performativ, an AI-native wealth management operating system for private banks and larger European institutions.
Oolka raised $14 million in a Series A to build out its AI-powered credit management platform for Indian consumers.
Belo raised $14 million in a Series A to expand its stablecoin-powered digital wallet across Latin America.
Marloo raised $10 million in a seed round to expand its AI assistant for financial advisers.
MagicCube raised $10 million to expand its software-based security platform into biometrics, identity verification, and AI-driven device security.
Novio raised $10.5 million in a Series A to scale its fixed deposit-backed credit card app for underbanked consumers in India.
Segura closed an $8 million seed round to build its WhatsApp-first AI platform connecting insurers and brokers across Latin America.
Tapaya raised $1.2 million in a pre-seed to build software infrastructure enabling card payment acceptance on any device.
Blockworks raised an undisclosed amount in a Series A extension at a $192 million valuation to build data and trust infrastructure for onchain capital markets.
RiskX closed an undisclosed seed round to apply AI to the structured derivatives market in South Korea.
Venture Funds
Northwestern Mutual Future Ventures closed a $150 million Fund III to back emerging and growth-stage fintech and insurtech companies, bringing the firm's total venture capital allocation to $350 million.
Illuminate Financial closed a $135 million Early Growth Fund, its fourth fund and first to target Series B+ stage enterprise AI and fintech companies, backed by BNP Paribas, Citi, Deutsche Börse, HSBC, Jefferies, RBC, S&P Global, and TD Securities.
