From custody and private markets to credit data, last week saw Tangany, Allocate, and Spinwheel making moves. This edition also features Dylan Dryden (Intanify) on turning invisible assets—IP, data, code—into real financial value.
Deal highlights
Germany / Europe has been ahead on regulating digital assets (with MiCA), and it is good to see Tangany getting real traction among a slew of custody players.
Tangany, a BaFin-regulated digital asset custodian preparing for EU-wide expansion under MiCA, has successfully closed a €10 million Series A funding round. The financing was led by Baader Bank, Elevator Ventures / Raiffeisen Bank International, and Heliad Crypto Partners, with continued support from existing investors HTGF and Nauta Capital. Since its €7 million Seed round led by Nauta Capital in 2022, Tangany has doubled revenues and amassed $3 billion in assets under custody. The company now serves 700,000+ accounts across 60+ institutional clients, including FlatexDEGIRO, eToro, and Bitvavo.
Interesting to see Allocate finding a private markets beachhead among US wealth advisors with venture capital, then expanding into private equity and private credit. Europe’s Moonfare and Stableton (more retail rather than advisors), Titanbay (more advisors than retail) mainly focus on PE and pre-IPO.
Allocate Raises $30.5 Million Series B to Modernize Private Market Investing…Private market investing is growing rapidly, yet only about 26% of the 17,000 wealth advisors in the U.S. currently allocate programmatically to alternatives. They often cite complexity, disconnected workflows, and administrative burden as barriers… Allocate has broadened its coverage beyond venture capital to private equity and private credit — helping wealth advisors and large global family offices use modern software to build and manage high-quality, personalized portfolios…Since launch, Allocate has scaled to over $2.5 billion on the platform and now serves over 1,200 wealth advisory firms and institutional family offices
Spinwheel raised additional funding after its $30 million Series A for its “Debt APIs that provide real-time, verified consumer and credit data and the ability to process payments inside of your existing workflow…all with just a phone number and birthdate!” Europe’s total household debt is about half of the US as per CEIC data, but Open Banking likely makes things much easier here.
Households in the United States collectively owe more than $18 trillion, up nearly 30% from 2020, with mortgages accounting for more than 70% of the total figure. Other common liabilities include credit cards, auto loans and student loans. As consumers accumulate debt, it gets harder to manage and keep up. Nearly 12% of people in the United States with credit card debt are delinquent, up from about 6% in 2014.
Q&A with Dylan Dryden of Intanify: Valuing intangible assets (IP, data, code, etc.)
In this interview, Dylan shares how the idea came about, how Intanify is already transforming the way innovative businesses are financed, and his vision for the future of the intangible economy.
1. Tell us a bit about yourself, and how you got the idea for Intanify.
My background spans investment banking and being a CFO, which gave me a front-row seat to one of the most frustrating market failures in modern finance.
90% of modern company value sits in intangible assets –IP, data, your trade secrets, your proprietary algorithms – but traditional finance treats it like it doesn’t exist.
Companies which have raised and built $10s of million in value have no assets according to accounting. That is obviously to do with accounting standards not economic reality.
That disconnect between actual company value and what financial systems could recognise led me to co-found Intanify with CTO Viet Lee. Our mission is to create the missing balance sheet for the modern economy – making invisible intellectual property and intangible assets visible to unlock better financing for innovative businesses.
The war for capital shouldn’t be won by whoever owns the most PP&E.
Read more from the interview here: http://www.fintechforum.de/qa-with-dylan-dryden-of-intanify-valuing-intangible-assets-ip-data-code-etc/
Read on for more on the founders and investors in the news last week. If you building or backing “what’s next in finance” and want to spread the word with our network of 20K+, reach out to Samarth Shekhar or Frank Schwab.
Funding Rounds
MEGA Raises USD 2M Led by Spintop Ventures to Transform Order-to-Cash Management With Compliant AI Voice Agents
MEGA, the AI voice agent platform purpose-built for order-to-cash (O2C) management, today announced a USD 2m pre-seed funding round led by Spintop Ventures, a Nordic early-stage venture capital firm with 15 years of experience scaling software-based technology companies. The investment will accelerate MEGA’s growth across Europe, expand its engineering and commercial teams, and strengthen its position as the compliance-first standard for AI-driven O2C management.
O2C workflows, the end-to-end process that manages a customer from order placement through delivery and payment collection, is highly regulated. Every customer interaction involves mandatory steps like identity verification and call recording disclosures – tasks that are simple but repetitive for human agents, yet highly resource-intensive when handled at scale.
Plural Closes $7M Seed Funding
Plural, a San Francisco, CA-based provider of a tokenized asset management platform powering the electron economy, raised $7M in Seed funding.
The round was led by Paradigm, with participation from Maven11, Volt Capital, and Neoclassic Capital.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO and Founder Adam Silver, Plural builds the financial infrastructure for the electron economy. Through tokenization and smart contract automation, it turns real-world energy assets, ike solar, batteries, and data centers, into scalable, programmable investment products. Its platform enables investors to access high-yield infrastructure investments that have historically been too small, complex, or fragmented for traditional capital markets. By combining regulatory compliance with structured deal execution.
The raise brought the total funding to nearly $10M.
https://www.finsmes.com/2025/09/plural-closes-7m-seed-funding.html
Advisor.com Announces $9 Million Seed Round Investment from Walkabout Ventures, Long Ridge Founder Jim Brown
Jim Brown
Capital to accelerate customer acquisition, enhance AI-powered technology, and expand advisor network
NEW YORK & CHARLESTON, S.C.–(BUSINESS WIRE)–Advisor.com, the fast-growing platform transforming how individuals discover and receive financial advice, announced a $9 million seed round led by Walkabout Ventures, with participation from Long Ridge Private Equity Partners Founder and Managing Partner Jim Brown.
The capital infusion allows Advisor.com to further address the growing number of investors who aren’t being served by current market offerings. This includes the growing group of professionals with investible assets under $500,000.
Specifically, Advisor.com will leverage the investment to grow its marketplace by accelerating customer acquisition, enhancing its AI-powered advisor-matching technology, and expanding its network of top-tier advisors. The network includes market leaders Creative Planning, Edelman Financial Engines, Empower, Fisher Investments, Pure and Vanguard.
Stablecoin startup Obita raises $10m
Hong Kong-based stablecoin-powered cross-border payments infrastructure provider Obita has raised over $10 million in an angel funding round.
The round was co-led by Vision Plus Capital and Mirana Ventures, with participation from Legend Capital, HashKey Capital, and Web3.com Ventures.
With stablecoins at its foundation, Obita is building a blockchain-native payment network under its Obita Mesh framework.
The startup says it is taking on industry pain points such as high foreign exchange costs, delayed settlements, and insufficient fund flow transparency, by integrating enterprise-grade compliance systems, cross-border clearing networks, and unified treasury management tools.
The company has an initial focus on high-growth markets in Southeast Asia, Central Asia, Africa, and Latin America.
https://www.finextra.com/newsarticle/46529/stablecoin-startup-obita-raises-10m
German digital asset custodian Tangany raises €10 million
Tangany, a BaFin-regulated digital asset custodian preparing for EU-wide expansion under MiCA, has successfully closed a €10 million Series A funding round.
The financing was led by Baader Bank, Elevator Ventures / Raiffeisen Bank International, and Heliad Crypto Partners, with continued support from existing investors HTGF and Nauta Capital.
Since its €7 million Seed round led by Nauta Capital in 2022, Tangany has doubled revenues and amassed $3 billion in assets under custody. The company now serves 700,000+ accounts across 60+ institutional clients, including FlatexDEGIRO, eToro, and Bitvavo.
Martin Kreitmair, CEO and co-founder, says: “This Series A round represents more than just capital; it’s a strong signal of institutional trust in Tangany’s vision and infrastructure. We’re proud to welcome well-established European institutions as shareholders, further strengthening our position within the financial sector.”
https://www.finextra.com/newsarticle/46521/german-digital-asset-custodian-tangany-raises-10-million
Pave raises $14m for AI-driven portfolio management platform
Pave Finance, a provider of AI-powered, institutional-grade, personalised wealth management software, has raised $14 million in seed funding.
Founded by veterans from the likes of Goldman Sachs, JP Morgan and Morgan Stanley, Pave helps investment advisors customise, personalise and automate portfolio construction and management.
Wealth advisors spend an average of 18 hours a week managing portfolios, says Pave. This time commitment leaves advisors unable to scale without sacrificing client customisation.
The startup’s proprietary software platform aims to solve this by combining an alpha scoring algorithm, optimisation engine and trading platform to deliver personalised portfolios aligned to each client’s goals and risk profile.
https://www.finextra.com/newsarticle/46538/pave-raises-14m-for-ai-driven-portfolio-management-platform
Flex Raises $15M to Unlock $150B in Untapped Pre-Tax Spending for Leading Health & Wellness Retailers
New funding fuels enterprise partnerships with Dermstore, iFit, and Therabody—bringing HSA/FSA payments to millions of consumers
SAN FRANCISCO, Sept. 02, 2025 (GLOBE NEWSWIRE) — Flex, the leading platform that enables health and wellness brands to accept Health Savings Account (HSA) and Flexible Spending Account (FSA) payments, has raised $15 million in Series A funding, bringing its total capital raised to $18 million. The round was led by First Round and Core VC, with participation from Cameron Ventures, Rethink Impact, Y Combinator, and Liquid2. This investment will accelerate Flex’s push into the enterprise market, empowering more retailers to capture a share of the $150B+ pre-tax spending opportunity.
PayPal leads funding round in agentic AI firm Kite
PayPal Ventures has led an $18 million funding round in Kite, a company building the trust infrastructure for AI-generated autonomous payments.
PayPal was joined by General Catalyst, 8VC, Samsung Next, Alumni Ventures, SBI US Gateway Fund, Vertex Ventures, Dispersion Capital, Avalanche Foundation, GSR Markets, LayerZero, Hashed, HashKey Capital, Animoca Brands, Essence VC, and Alchemy.
The new financing brings total cumulative funding for the vendor to $33 million.
The company, formerly known as Zettablock, recently launched Kite Agent Identity Resolution, a product that enables autonomous agents to authenticate, transact, and operate independently in real-world environments. The system delivers programmable identity, native stablecoin payment, and policy enforcement on a blockchain optimised for autonomous agents.
https://www.finextra.com/newsarticle/46535/paypal-leads-funding-round-in-agentic-ai-firm-kite
Dispatch Raises $18 Million in Series A Funding to Further Advance AI-Ready Data Infrastructure for Financial Advisors
Funding underscores demand for clean, connected client data across wealth management
NEW YORK–(BUSINESS WIRE)–Dispatch, the first wealthtech solution enabling effortless client data management, today announced the successful completion of an $18 million Series A funding round, bringing its total capital raised to $30 million. The round was led by Brewer Lane Ventures, with participation from New York Life Ventures, MassMutual Ventures, Perceptive Ventures and existing investors F-Prime, Flyover Capital, and Fika Ventures.
The new capital will be used to accelerate investment in agentic workflows and AI-driven data orchestration. Dispatch is built with intelligent automation at its foundation, enabling wealth management firms to eliminate repetitive data tasks, streamline client onboarding and dynamically reconcile client information across multiple systems.
Reggora Announces Official Release Date for 24-Hour Appraisal Solution; Secures $18M from Centana Growth for Expansion
The appraisal technology company is set to launch a nationwide solution that allows lenders to close loans significantly faster without sacrificing quality or compliance.
BOSTON, MA / ACCESS Newswire / September 4, 2025 / Reggora, a leading appraisal technology company modernizing residential real estate valuation, today announced a $18 million funding round led by Centana Growth Partners. The investment empowers Reggora to double down on product innovation, with the company’s most ambitious solution yet: the rollout of their 24-hour appraisal product set to redefine speed and efficiency in mortgage lending.
Utila Secures $22 Million Series A Extension Amid Surging Demand for Stablecoin Infrastructure
Utila Secures $22 Million Series A Extension Amid Surging Demand for Stablecoin Infrastructure
New York City and Tel Aviv – Utila has closed a $22 million Series A extension round just six months after announcing its Series A, bringing its total A round to $40 million and nearly tripling the company’s valuation.
The extension, led by Red Dot Capital Partners with participation from Nyca, Wing VC, DCG, Cerca Partners, Funfair Ventures, and SilverCircle, brings the total funding to more than $51 million and reflects the explosive demand for Utila’s digital asset operations platform as organizations worldwide adopt stablecoins for payments, treasury management and operational workflows.
https://utila.io/blog/utila-secures-22-million-series-a-extension/
TransBnk secures $25 million in funding from Bessemer Venture Partners – Techcrunch
Combined with this most recent funding, TransBnk has raised around $26 million in total, increasing its valuation seven times according to the Indian startup’s leadership team.
According to Techcrunch, Transbnk enables approximately 110 million transactions a month, covering 11,000 bank accounts and utilising over 1,500 APIs.
Transbnk secured $25 million in its Series B funding round from Bessemer Venture Partners which included $4 million in secondary and saw participation from Fundamentum, Arkam Ventures, 8i Ventures, Accion, and Japan’s GMO Venture Partners.
With plans to expand beyond India and enter Southeast Asia and the Middle East, growth is definitely a priority for Transbnk. In addition to building out its infrastructure platform layer, plans are underway to expand to real estate, pharma, and renewable energy.
Spinwheel Secures Strategic Investment from Citi Ventures to Accelerate the Future of the Consumer Credit Ecosystem
Spinwheel is making real-time consumer credit data and payments instant, integrated, and intelligent
OAKLAND, Calif.–(BUSINESS WIRE)–Spinwheel, the agentic AI-powered credit data and payments platform, today announced a strategic investment from Citi Ventures. The funding will support Spinwheel’s continued go-to-market growth, expand its agentic AI platform, and build out its data sets and product offerings. In addition, Citi Ventures will advise Spinwheel on product use cases that matter most to the largest financial institutions.
This investment marks a significant milestone in addition to Spinwheel’s $30 million Series A round announced in June. Citi Ventures joins other leading investors, including F-Prime, QED Investors, Foundation Capital, Core Innovation Capital and Fika Ventures in backing Spinwheel’s bold vision to rewire how real-time credit data is accessed, activated, and embedded.
ModernFi Raises $30 Million Series B Strengthening Its Position as Foundational Infrastructure for the U.S. Banking System
Intercontinental Exchange joins Canapi, Andreessen Horowitz, and other leading firms in backing ModernFi’s mission to support the growth and competitiveness of banks and credit unions nationwide
ModernFi, the leading technology provider for deposit management, today announced a $30 million Series B funding round. Led by Canapi Ventures, with participation from Andreessen Horowitz, Curql, Remarkable Ventures, and new investor Intercontinental Exchange, Inc. (NYSE: ICE), the round brings ModernFi’s total funding to over $60 million. This investment reflects growing institutional recognition of ModernFi’s role as critical infrastructure for deposit stability and liquidity management in the post-2023 banking landscape.
Allocate Raises $30.5 Million Series B to Modernize Private Market Investing
SAN FRANCISCO–(BUSINESS WIRE)–Allocate today announced the close of a $30.5 million Series B round, bringing the company’s total capital raised since inception to $64 million. The company, which has over $2.5 billion in assets on platform, was backed by Portage Ventures with participation from Andreessen Horowitz, M13, and Fika Ventures.
With this new capital, Allocate will accelerate development of its private market AI and workflow automation capabilities and expand integrations to drive adoption. In addition, Allocate has broadened its coverage beyond venture capital to private equity and private credit — helping wealth advisors and large global family offices use modern software to build and manage high-quality, personalized portfolios.
FinTech bank Lead raises $70m in Series B
Lead Bank, a state-chartered institution that provides compliant banking infrastructure for top FinTechs and digital asset firms, has secured $70m in its Series B fundraising round.
The round was led by new investors ICONIQ and Greycroft, alongside existing backers Ribbit Capital, Coatue, Khosla Ventures, Andreessen Horowitz, and Zeev Ventures. The fresh capital has pushed Lead Bank’s post-money valuation to $1.47bn.
Lead specialises in building technology-first banking solutions, with a banking-as-a-service (BaaS) platform that allows FinTechs, consumer companies, and digital asset firms to integrate directly into transaction workflows. Its offerings include programmable products and full-service banking for both businesses and individuals across the US.
https://fintech.global/2025/09/05/fintech-bank-lead-raises-70m-in-series-b/
Kapital Doubles Valuation to $1.3B, Becomes Latin America’s First AI Unicorn
MEXICO CITY, Sept. 2, 2025 /PRNewswire/ — Kapital, a global financial institution and the leading AI-driven platform for small and medium-sized businesses (SMBs) in Latin America, today announced the successful close of its up to $100 million Series C funding round, doubling its valuation to $1.3 billion in under two years and achieving profitability. The round was led by Tribe Capital and co-led by Pelion Ventures, with participation from Y Combinator, Marbruck Ventures, and True Arrow. The new capital will accelerate the build-out of Kapital’s unified, AI-powered financial ecosystem designed to maximize SMB performance across the region.
Winklevoss Twins Back EU Bitcoin Treasury Firm in $147 Million Deal
Tyler and Cameron Winklevoss
Bitcoin treasury company Treasury B.V. said it had raised initial funding of €126 million ($147 million) through a private round led by the venture capital firm of billionaires Cameron and Tyler Winklevoss, according to a company statement on Wednesday.
- Funding was also supported by Nakamoto Holdings Inc., a Bitcoin treasury company that merged with New York-listed healthcare services firm Kindly MD Inc. earlier this year. Other investors included UTXO Management, Off the Chain Capital, M1 Capital and Mythos Venture Partners
- Treasury plans to pursue a reverse listing on Euronext Amsterdam through MKB Nedsense N.V., according to the statement. Upon completion of the transaction, Treasury is expected to trade under the ticker TRSR
ID.me hits $2bn valuation on funding to tackle AI fraud
Digital identity wallet ID.me has hit a $2 billion valuation after raising $340 million across a funding round, combined with a credit facility.
The Series E was led by Ribbit Capital, with participation from Ares Credit funds, Moonshots Capital, and Positive Sum.
ID.me is a digital identity wallet that stores and manages users’ personal information, helping them to prove their ID online seamlessly across websites.
The firm has secured deals with US government agencies and claims that seven states credited it with preventing more than $270 billion in unemployment fraud during the pandemic. In 2024 it added 20.4 million new wallets and now has 152 million users, representing nearly 60% of US adults.
https://www.finextra.com/newsarticle/46547/idme-hits-2bn-valuation-on-funding-to-tackle-ai-fraud
M&A
Zopa Acquires Rvvup
Picture credits: Zopa
Zopa, a London, UK-based digital bank service provider, acquired Rvvup, a London, UK-based provider of a payments platform.
The amount of the deal was not disclosed.
With the acquisition, Zopa will offer merchants multi-channel checkout experiences across all payment methods using AI.
Led by David Nunn, Founder and CEO, Rvvup provides an AI Payment Agent that automates the entire payment process, choosing the optimal payment method to reduce costs and boost sales, automatically syncing with tools such as Xero, and handling daily reconciliation tasks that merchants face when using multiple payments providers. Rvvup transforms payments from a cost centre into a growth driver for merchants.
https://www.finsmes.com/2025/09/zopa-acquires-rvvup
FUNDS
Lakestar Closes $265M Continuation Fund
Image crtedits: Lakestar
Swiss VC firm extends portfolio exposure with backing from Lexington Partners, Industry Ventures, and Performance Equity Management
Lakestar, a Zurich-based venture capital firm known for early investments in Spotify and Revolut, has closed a US$265 million continuation fund, anchored by secondary market specialist Lexington Partners alongside Industry Ventures and Performance Equity Management.
According to Tech Funding News, the oversubscribed fund allows Lakestar to transfer stakes from four existing funds into the new vehicle, extending its exposure to portfolio companies while providing liquidity to limited partners seeking an exit.
Such structures are becoming increasingly common as IPO markets remain subdued and exit horizons lengthen.
https://fintechnews.ch/funding/lakestar-265m-continuation-fund
That’s a wrap for this edition of Deal Highlights.
Stay tuned for more insights and funding news in our next issue — the fintech ecosystem keeps moving fast, and we’ll keep you updated.