## Fintech’s 2025 Resurgence: US Startups Attract Massive Funding
After a period of relative slowdown, the fintech sector is showing strong signs of recovery in 2025. A recent report from CB Insights reveals that fintech startups globally secured a combined $10.3 billion in funding during the first quarter of the year, marking the highest level since the first quarter of 2023. The average deal size also saw a significant jump, reaching $17.7 million – a figure not seen since 2021.
This resurgence is particularly evident in the United States, where 19 fintech startups have already raised over $50 million each in 2025. Investor interest spans various sub-sectors, including crypto, payments, banking, and fraud prevention, indicating a broad-based confidence in the future of financial technology.
Here’s a breakdown of the US-based fintech companies that have secured substantial funding rounds so far this year, according to PitchBook data:
**April**
* **Plaid:** The connectivity giant, linking bank accounts to financial applications, raised approximately $575 million through the sale of common stock, valuing the company at $6.1 billion post-money. Franklin Templeton spearheaded the round, joined by new investors like Fidelity Management and Research and BlackRock, alongside existing backers NEA and Ribbit Capital.
* **Felix:** This chat-based platform assisting Latino immigrants in the US with sending money abroad closed a $75 million Series B round. QED Investors led the investment, with participation from Monashees, Switch Ventures, Castle Island, HTwenty, General Catalyst Customer Value Fund, and Endeavor Catalyst.
* **Rain:** Based in Los Angeles, Rain offers an employer-integrated earned wage access (EWA) app paired with financial wellness features. The startup secured $75 million in a Series B round led by Prosus, resulting in a post-money valuation of $340 million.
* **Ethic:** The New York City-based tech-enabled asset management startup raised $64 million in Series D funding, spearheaded by State Street Global Advisors. This round valued the company at $700 million post-money.
* **Luna Technologies:** This Cincinnati, Ohio-based wealth management platform secured $63 million in a Series C round led by Sixth Street Growth, with participation from existing backers like Bank of America, Morgan Stanley, UBS, and TD Bank Group.
* **Tapcheck:** Based in Plano, Texas, this on-demand pay provider secured a substantial $225 million in funding, comprised of a $25 million extension to its Series A round (led by PeakSpan Capital) and a $200 million credit facility from Victory Park Capital.
**March**
* **Mercury:** This digital banking startup raised $300 million in primary and secondary funding during a Series C round led by Sequoia. The funding doubled the company’s valuation to $3.5 billion post-money. Coatue, CRV, Andreessen Horowitz, Spark Capital, and Marathon also participated.
* **Mesh:** A crypto payments startup, Mesh, raised $82 million in a Series B round led by Paradigm, with contributions from Consensys, QuantumLight, Yolo Investments, and others. Notably, the financing was secured using PayPal USD (PYUSD) stablecoin. The San Francisco-based company was valued at $482 million post-money.
* **Flex:** Focused on providing personal finance software and payments infrastructure for business owners, Flex raised $25 million in equity funding alongside a $200 million credit facility. Titanium Ventures led the equity round, with Victory Park Capital providing the credit facility.
* **ONE Amazon:** This Miami-based provider of crypto-powered project services for rainforest conservation raised $105 million from Global Edge Worldwide Fund and Gorilla Technology.
* **Zolve:** This neobank provides financial access to high-skilled global citizens moving to the US. The company raised $251 million in a new funding round, including $51 million in equity, led by Creaegis, with participation from HSBC, SBI, GMO, and DG Daiwa. Accel, Lightspeed Venture Partners, Sparta Group, and DST Global also participated.
**February**
* **Bitwise:** A San Francisco-based crypto-specialist asset manager, Bitwise, raised $70 million in a round led by Electric Capital, resulting in a post-money valuation of $670 million.
* **Sardine:** Describing itself as an AI risk platform for fraud, compliance, and credit underwriting, Sardine raised a $70 million Series C funding round led by Activant Capital. The funding valued the San Francisco startup at $680 million post-money.
* **Raise:** This online gift card marketplace with a focus on crypto raised $63 million with investors including Amber Group, Anagram (Cayman Islands), BlackPine, Borderless Capital, GSR, Haun Ventures Management, Karatage, Paper Ventures, and Pharsalus Capital.
* **Candid Health:** Candid Health, a revenue cycle management platform for healthcare providers, raised a $52.5 million Series C led by Oak HC/FT and existing investors. The round valued the company at $250 million post-money.
**January**
* **Phantom:** This developer of a crypto wallet designed for decentralized finance and non-fungible tokens raised a $150 million Series C round at a $3 billion valuation. Sequoia Capital and Paradigm co-led the financing.
* **Highnote:** A San Francisco-based card issuing and embedded payments company, Highnote, raised $90 million in a Series B round led by Adams Street Partners, bringing its valuation to over $750 million.
* **Fundraise Up:** Based in Brooklyn, Fundraise Up is a fundraising platform for nonprofits. The company raised $70 million in a minority growth investment led by Summit Partners.
* **Openly:** Openly, a tech-enabled home insurance services provider, raised $193 million in a growth financing round co-led by Eden Global Partners and Allianz X.
This wave of investment signals a renewed confidence in the fintech sector and suggests a promising future for innovation and disruption within the financial services landscape. As these startups continue to grow and evolve, they are poised to reshape how we interact with money and financial services in the years to come.
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