April fintech funding roundup: fintech funding hits twelve-month low

Quick Take

  • Fintech funding continues to show signs of falling off, with only $6.4 billion raised in April.
  • It is the lowest level of funding recorded by the sector since February last year. 

After failing to return to double-digit billions for two months consecutively in February and March this year, fintech funding hit a low of $6.4 billion in April. The last time funding levels in the sector were this low was February 2021. 

Read on to find out more about what happened in fintech last month. 


Despite an off month in March, the payments subsector returned to queen bee status. It raised $2 billion last month — the most of our five categories. 

Coda Payments, Singapore-based platform for digital content monetization, raised $690 million in funding last month. Investors included Smash Capital and Singaporean sovereign wealth fund GIC. 

USDC-issuer and payments infrastructure firm Circle announced a $400 million funding round last month along with a partnership with BlackRock as a strategic investor. Fidelity, Marshall Wace and Fin Capital also participated in the round. 

Philippines-based Voyager Innovations, the technology company behind payment platform PayMaya, raised $210 million at a $1.4 billion valuation. 

Indian credit card startup Cred raised $200 million from Singaporean sovereign wealth fund GIC. This will value the company at more than $6.5 billion. 

Luxembourgish payments startup Mangopay raised $75 million from US private equity firm Advent International — making it the company’s majority stakeholder. 

Financial management

In second place, financial management startups raised $1.4 billion last month, buoyed by mega raises from TaxFix and Remote. 

Remote, a jobs marketplace and workplace management service for remote workforces, raised $300 million in Series C financing. The round was led by SoftBank and featured participation from Accel, Sequoia and Index Ventures. 

Berlin’s TaxFix, an app that aims to simplify tax filing systems, raised $220 million in a round led by the Ontario Teachers’ Pension Plan. Index Ventures and Creandum also participated in the round. 

Wagestream, an app that advances an employee’s salary, raised $175 million as it announces its bid to become a financial super app for waged workers. 

SME-focused digital ledger app Treinta raised $46 million from PayU, a company billed as a PayPal for emerging markets. Launched only 18 months ago, it already has more than 4 million customers. 

French open banking platform Budget Insight raised $35 million from PSG Equity. Founded in 2012, the company uses APIs to allow its clients and their end-users to aggregate financial data and documents, and initiate transactions. 


This subsector is usually dominated by buy-now-pay-later firms, but last month saw real estate lenders and credit cards take center stage. 

Jaja Finance, a London-based neocredit card company, raised $150 million from private equity firms KKR and TDR Capital. 

Moove Africa, an African startup that uses a credit scoring system to provide vehicle financing, raised $105 million from investors including SpeedInvest and Kreos Capital. 

California’s The Change Company raised $88 million via a private placement. It aims to expand access to capital for low-income borrowers and communities. 

Trusting Social, an AI-based credit insight company covering consumers in Southeast Asia, raised $65 million in Series C funding. 

Stenn, a platform that finances SMBs that trade internationally, raised $50 million at a $900 million valuation. The funding came from a single investor — US private equity firm Centerbridge. 


Neo banks and banking-as-a-service startups raised $566 million last month. 

Starling Bank, a London-based neobank, raised $131 million from existing investors such as Goldman Sachs and the Qatar Investment Authority. It plans to use the financing to “build a war chest for acquisitions.” 

Brazil’s Stark Bank, a bank for tech companies, raised $35 million led by Amazon’s Jeff Bezos. Ribbit Capital and Lachy Groom also participated in the round.  

Copper Banking, a neobank for teenagers, raised a $29 million Series A from investors including Insight Partners and Panoramic Ventures. 

US-based neobank Cogni raised $23 million led by Hanwha Asset Management and Rok Capital as it announced a pivot into web3. 

Alpian, a Swiss app that combines banking services with personal wealth management, raised $20.5 million in a Series B extension. 


The wealthtech subsector normally brings in the big bucks but in April it only raised $548 million — the lowest of our five subsectors. 

Alternative asset platform CAIS announced a $100 million raise, valuing the company at unicorn status. This was a continuation of its $225 million in January and was led by Reverence Capital Partners. 

Ellevest, an investment platform focused on women, raised $53 million in Series B funding. The round was co-led by BMO Family Office and Contour Venture Partners. 

UK investment app Moneybox raised $46 million as it pushed into crypto. It plans to allow its customers to hold a “couple of percent” in BTC as part of a larger portfolio. 

Fundguard, an AI-powered SaaS investment management tool, raised $40 million in Series B funding. The round was led by financial giants Citi and State Street. 

Stake, an online platform for New Zealanders to invest in US shares, raised a $90 million Series A extension round. It included investors such as Tiger Global and DST Global Partners. 

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