The past week witnessed a surge in funding for fintech startups, echoing the heady days of 2021.
Riyadh-based Tabby ascended to become the most valuable fintech in the Middle East and North Africa (MENA), securing $160 million at a $3.3 billion valuation. This impressive jump from its previous $1.5 billion valuation in 2021 reflects the company’s expansion beyond buy now, pay later.
India’s Zeta, a banking software provider, raised $50 million at a $2 billion valuation, surpassing its 2021 valuation of $1.15 billion. Reports also indicate that Mercury is preparing to raise capital at a valuation exceeding $3 billion, doubling its previous valuation.
In other funding news, payments giant Stripe is reportedly in talks for a shareholder sale that could value it at $85 billion or more.
African fintechs also saw significant investment. Raenest (Nigeria) raised $11 million for expansion across Africa, while Affinity Africa (Ghana) secured $8 million for expanding its financial offerings.
Comulate (US) closed a $20 million Series B round to enhance its tools for insurance billing and revenue management.
The recent funding boom has raised comparisons to 2021, a year of unprecedented fintech investment. Observers anticipate that 2025 could see a continuation of this trend.
In other news, Carta settled two lawsuits alleging sexual harassment and discrimination. Coinbase is preparing to re-enter India after ceasing operations a year ago.
Stay tuned for the latest fintech developments and insights by following @bayareawriter for breaking news and industry analysis.
Original source: Read the full article on TechCrunch
