The FinTech sector closed 39 funding rounds this week on a strong week for the sector.
Overall, throughout the plethora of tranches, just over a mammoth $1.4bn was raised on a superb week for the space – even edging out last week’s $1.2bn success.
In the top deals of the week charts, HSBC led the way with a $250m private loan for Hong Kong’s FundPark, with $200m from HSBC itself and $50 million from partners. This funding will help FundPark support SMEs in China’s eCommerce sector.
Boston-based Hometap announced a groundbreaking $217 million securitisation of home equity investment (HEI) assets. The transaction included two tranches, enhancing liquidity for homeowners seeking alternative financing amid economic challenges.
Furthermore, Slide Insurance secured a $175m senior credit facility led by Regions Bank, with Synovus Bank and Texas Capital Bank participating. This funding will aid Slide Insurance in refinancing existing debt and driving both organic and inorganic growth initiatives.
In terms of sector-by-sector statistics, FinTech led the way as usual, bagging 19 of the deals, but there was plenty of representation from all corners of the space. RegTech, InsurTech, and WealthTech all saw fruitful weeks, with six, five, and five deals respectively being secured in the relevant spaces.
CyberTech and PayTech also saw success, with each subsector seeing a pair of deals land each.
On the international scene, USA continued its monopoly of the funding stakes, with another impressive week, with 15 of the deals coming from the land of the free.
But despite this there was a plethora of deals from all corners of the globe on a truly worldwide week for the sector.
The UK continued its position as the perennial bridesmaid of FinTech funding with eight deals, but it was also a strong week for Canadian FinTech as they saw two firms bag deals.
A host of other nations secured a solitary deal, highlighted by the surprise inclusion of Luxembourg.
The other nations to land funding deals this week were: Mexico, India, Romania, The Phillipines, France, Israel, Puerto Rico, Singapore, Ireland, Hong Kong, UAE and Germany.
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