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This past week saw a LOT of movement in funding, acquisitions and other forward-leaning developments.
See below for some highlights.
Pinned to the Top
Insurance, is moving fast?
If you haven't noticed, insurance has been an ultra-hot sector for VCs and startup founders.
From digital-first insurance providers to AI-enabled risk measurement tools to customer-focused SaaS plays, venture investors have poured over $20 billion into the space over the past three years.
And many are moving so fast - they're reaching exit stage - with many reaching IPO or being acquired by traditional carriers to drive their innovation and or revenue strategies.
This white-hot sector is showing no signs of abating in 2021, as companies Like Oscar, Hippo and others list themselves on the public markets, and creating attention for their outsized returns.
Crunchbase has a terrific deep dive on the topic here -->
Last week Paypal acquired Curv, a crypto-security company that makes digital wallets more secure and easy to use.
This is one of many moves by big fintech companies indicating cryptocurrency and digital assets are here to stay.
Paypal has also announced plans to expand their crypto products abroad and to let users buy and sell items using crypto. In short: digital assets are gaining trust.
Whether you already get crypto or are just starting to understand what’s going on - it's time to pay real attention to this space.
Eco, a San Francisco-based cryptocurrency payments platform, raised $26 million led by Andreessen Horowitz. More here ->
Clocr, an all-in-one digital legacy planning platform have announced three pending patents, including one in security, and are paving the way for the future of digital assets (including crypto). More here ->
Unchained Capital, a bitcoin native financial services company, closed a $5.5M seed round led by institutional Bitcoin technology and financial services firm NYDIG. More here ->
Codat, a API-based platform for business data, has received strategic investments from PayPal Ventures and American Express Ventures. The company uses a single API to directly ‘plug in’ to the software used by small businesses - allowing banks, fintechs and other FS players to access everything from the company’s accounting software to payment terminals recording real-time transactions. More here ->
Starling, the British digital challenger bank, raised £272 million in Series D funding at a £1.1 billion pre-money valuation. Fidelity led, and was joined by Qatar Investment Authority, Railpen and Millennium Management. More here ->
Wealthsimple, the Toronto-based FinTech startup has launched its new consumer payment app, Wealthsimple Cash, for users across Canada. More here ->
More news from Canada - Interac Corp. has been selected as the exchange solution provider for the Real-Time Rail (RTR). More here ->
And finally on the Canada front - Koho has secured $70 million CAD in Series C financing. The Toronto startup raised the capital as it aims to increase the utility and adoption of its alternative financial service offerings. More here ->
Dosh, a payment platform that partners with businesses to offer cash-back deals, announced they are being acquired by Cardlytics for $275M in cash and stock. Dosh had previously raised $87M dollars, while Cardlytics has a market cap of nearly $3.6B. More here ->
M1 Finance, a Chicago-based automated money management platform, raised $75 million in Series D funding at a valuation north of $3.5 billion. More here ->
Paperwork, is helping families stay organized and prepared via a recently launched app that collects all key docs (life insurance, wills, etc.) and makes recommendations accordingly. More here ->
Cheese, a Pasadena, Calif.-based digital banking platform aimed at Asian Americans and immigrants, raised $3.6 million in seed funding. More here ->
Moonfare, a German platform for investing in private equity funds, has been sold a minority stake in the company to Fidelity. More here ->
Gatsby, a New York-based stock and options trading app, raised $10 million in Series A funding from Techstars Ventures, Beta Bridge Capital and SeedInvest. More here ->
Alkami, a provider of digital banking solutions for banks and credit unions, filed for a $100 million IPO. It plans to list on the Nasdaq. More here ->
AgencyMVP, an Austin, Texas-based P&C insurance sales lead platform, raised $3.5 million in seed funding led by Silverton Partners. More here ->
REIN, an embedded insuretech, brings the world's leading brands and insurers together by powering complex embedded insurance programs with ease and flexibility. More here ->
Hi Marley, a Boston-based messaging platform for insurers, raised $25 million in Series B funding. More here ->
GloveBox, a mobile platform for insurance agents, raised $3 million in seed funding. More here ->
From the Stash
InsureTech: How two LinkedIn veterans are upgrading the insurance industry's messy 'plumbing' | Fortune — fortune.com AgentSync, founded by a wife-and-husband duo and backed by Marc Benioff, aims to make it easier for insurers to team up with new agents.
5 Things You Must Do to Become a True Digital Banking Competitor — thefinancialbrand.comFunctionality is the foundation, but it won't differentiate your institution. Four other user experience elements are required.
Reports / Webinars
Gonna catch this years Bank Automation Ignite event. If you need it - save 10% on registration using code SHARE10.
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