The Architecture of Trust: Navigating the New Frontiers of Finance
In an era where the boundary between human judgment and algorithmic precision continues to blur, the true north for any financial pioneer remains the same: Trust. Whether it is building the invisible pipes of B2B infrastructure or opening the gates of private equity to the retail world, the mission is no longer just about moving money—it is about designing the systems that will define the next decade of global commerce.
In this edition, we invite you into the heart of this transformation. We sit down with Maxime Pasquier from BlackWood Ventures to discuss building FinTech infrastructure that earns trust over time. We explore Frank Schwab’s provocative thesis on “Banking the Algorithm,” and dive into Samarth Shekhar’s deep-dive analysis of the firms reshaping private equity and SMB lending. Finally, we celebrate a formidable wave of funding—from $3M seeds to $155M Series D milestones—that proves the appetite for innovation has never been sharper.
Step inside. The future of finance is being written today.
A Q&A with Blackwood’s Maxime Pasquier on Building FinTech Infrastructure That Earns Trust Over Time
In the heart of Copenhagen, where curiosity first sparked a bold pan-European vision, Bastian Larsen founded BlackWood Ventures in 2021—not with a fund, but with a mission to back the most serious founders across Europe. Today, with a freshly closed $25M Fund I and a powerhouse network of over 1,000 angels backed by proven builders with real exits, BlackWood delivers far more than capital: it gives founders a true unfair advantage in FinTech, Cleantech, and Web3.
We’re delighted to sit down with Maxime Pasquier, Principal at BlackWood, who leads the investment team with a rare blend of operator, founder, and investor experience. From scouting deals to building companies and navigating uncertainty firsthand, Maxime’s “proximity to reality” lens delivers sharp, no-fluff insights into the infrastructure reshaping B2B FinTech and beyond. Ready to uncover what’s next? Let’s dive in.
1- Tell us a bit about yourself, both at work and leisure
I work at the intersection of technology, capital, and company building. Over the past six years, I’ve moved through the ecosystem in different roles, scouting, operating, founding, venture building, and today investing, but the thread connecting them has stayed remarkably consistent: proximity to reality.
I’m currently a Principal at BlackWood, where I lead the investment team and work closely with founders from pre-seed onward. The role is often described as pattern recognition, but in practice it’s closer to judgment under uncertainty 🙂
After having operated inside large organizations, built companies from zero, and sat on both sides of the fundraising table, I tend to look less for polished narratives and more for how people reason when things don’t go according to plan.
Outside of work, I read geopolitics, philosophy, and literature, listen to jazz, spend time in the mountains, and write. Writing, in particular, is how I slow things down and make sense of complex systems.
Read more from the interview: Maxime Pasquier from BlackWood on Stablecoins, Agentic AI, and Scaling B2B FinTech Infrastructure
Deal Highlights
While private equity deal flow, sourcing and market intelligence platforms abound (and may overlap partly), Thema is taking an interesting, specialist approach to a less-addressed but high value piece of the private equity puzzle – portfolio value-add/ expansion/ roll-ups, driven by a “live” market map.
Thema raises $6.2m for PE portfolio expansion AI…Thema builds what it describes as Portfolio Expansion Infrastructure — the system PE investors use to decide where to expand, where to originate deals, and where risk sits across a portfolio.
The platform is designed to replace the fragmented consulting reports and point-in-time sourcing tools that firms currently rely on, delivering instead a living, continuously updated view of market structure. It helps investors answer questions about where opportunity and risk sit across holdings, where to originate deals, and which adjacencies each platform company should pursue.
This is a brave play in the highly competitive SMB lending space in the US- especially the AI underwriting part. On connecting SMB loans to tokenized capital markets, the regulatory clarity and adoption are key question marks. They do have the traction and the momentum – one to watch!
AI Meets Blockchain: NEWITY Secures $11M Strategic Investment to Transform $350B Gap in Small Business Loan Market….The investment will expand two key capabilities: scaling NEWITY‘s AI-first underwriting platform to further streamline loan origination and building infrastructure to connect small business credit with blockchain-enabled capital markets.
Together, these advancements will help NEWITY’s expert team guide more businesses through funding efficiently while transforming small business debt from an illiquid asset into digital, tradable instruments that continuously recycle capital back to entrepreneurs at scale.
With companies reaching $10B–$100B+ valuations before going public (e.g., SpaceX, Stripe, Databricks), a large share of economic upside is now in private markets. With $1M+ minimums and accreditation requirements, this upside is not accessible to retail investors in the US. Robinhood’s no-carry structure is investor-friendly vs. traditional VC funds with 2% management fees and 20% carry. The counterarguments here are that several PE firms (Blackstone, KKR, Apolloy, Carlyle…) are publicly listed and several public stocks offer indirect exposure to high-growth private tech firms (e.g. Microsoft is in OpenAI; Alphabet is in Anthropic or SpaceX; Softbank, Tencent or Prosus have large venture portfolios.
Robinhood Launches $1B Fund To Give Retail Investors Access To Space X, Stripe…The fund already owns stakes in AI software firm Databricks, smart ring maker Oura Health, and UK fintech Revolut. Additionally, it has agreed to invest in payments giant Stripe. These are the exact companies institutions have access to but retail investors normally don’t.
Instead of waiting years for SpaceX or Databricks to go public, investors can buy shares of this fund that already owns pieces of them. When those companies eventually IPO or get sold, the fund’s value reflects it… The fund charges a 2% management fee, reduced to 1% for the first six months after IPO.
Read on for more on the founders and investors in the news last week. If you are 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.
Banking the Algorithm
by Frank Schwab
The next major client demographic for financial institutions won’t be retail or corporate. It will be algorithms. Every boardroom today is captivated by Artificial Intelligence. Boards are discussing how AI will optimize workforce, enhance risk models, and streamline operations.
But there is a massive blind spot in the global financial conversation: How does an autonomous AI actually pay for things?
If an AI agent is tasked with independently sourcing data, purchasing cloud computing power, or negotiating a supply chain contract, it cannot use the traditional banking system. An algorithm does not have a passport. It cannot pass a traditional KYC check.
Funding Rounds
Burst raises $3m seed to unlock FSA and HSA retail spending
Burst, formerly known as Float, a healthcare payments platform designed to help retailers and wellness brands unlock untapped FSA and HSA spending, has raised $3m in total funding, including a $2.1m seed round led by Pear VC.
The seed round also saw participation from Rock Health Capital, Alumni Ventures, and others. The capital will be used to accelerate product development and fuel partnerships with retailers, e-commerce brands, and plan administrators seeking to capture a greater share of health spending.
The platform has already demonstrated notable traction among wellness brands and retail partners, driving up to 30% higher customer basket size and up to 42% increase in retention rates, it claimed.
https://fintech.global/2026/02/26/burst-raises-3m-seed-to-unlock-fsa-and-hsa-retail-spending/
Sherpas secures $3.2m seed to power AI in wealth management
Sherpas, an AI-native infrastructure platform for wealth management firms, has raised $3.2m in seed funding.
The round was led by 1248, the family office of Mariner Wealth Advisors Founder & CEO Marty Bicknell, with significant participation from AUA Private Equity Capital, GoHub Ventures, and a group of strategic investors and advisory firms from across the wealth management sector.
Wealth management firms are facing mounting structural pressures. Client expectations continue to rise, financial planning is becoming more complex, and advisers are expected to provide faster, more personalised recommendations. At the same time, many firms still rely on manual processes, fragmented point solutions and time-intensive preparation of financial plans.
Sherpas has positioned its platform as an alternative to layering yet another application onto legacy systems. Instead, it operates as an AI-native foundation embedded within advisory workflows.
https://fintech.global/2026/02/24/sherpas-secures-3-2m-seed-to-power-ai-in-wealth-management/
Bluprynt raises $4.25 million seed round from Coinbase Ventures, Robinhood to streamline crypto compliance
Crypto disclosure firm Bluprynt secured $4.25 million in an oversubscribed seed funding round from major industry players, including Coinbase Ventures and Robinhood.
The round, announced on Thursday, was led by Valor Capital Group and also brought in venture capital firms Selah Ventures and Quona Capital, alongside individual investors like Nubank co-founder Edward Wible. These investors join Bluprynt’s pre-seed backers, which include former CFTC chair Chris Giancarlo and entrepreneur Mark Cuban, according to the company.
Founded and led by prominent financial policy expert Dr. Christopher J. Brummer, Bluprynt aims to simplify global compliance for digital assets. Brummer previously compared the company’s taxonomy to streamline the process of compliance with filing taxes to the software used to file taxes. Brummer is the CEO of Bluprynt and is a Georgetown law professor.
Rhythmic Secures $4 Million Funding to Enhance Stablecoin Platform
Stablecoin financial platform Rhythmic has successfully raised $4 million in a funding round led by Dragonfly and Rob Hadick. According to Foresight News, other participants in the investment include Mirana Ventures, Nik Milanovic, The Fintech Fund, Matthew Homer, and The Venture Dept. The funds will be allocated towards developing the core platform and expanding the team.
Rhythmic aims to provide brands with seamlessly integrated financial products through its stablecoin infrastructure. These offerings include balance holding, earning rewards, and spending capabilities.
Thema raises $6.2m for PE portfolio expansion AI
Thema, a portfolio expansion infrastructure platform for private equity investors, has raised $6.2m in combined funding.
The raise comprises $4.5m in pre-seed capital led by Stride.vc, with participation from KDX, Capital Allocators, and a group of angels spanning private equity, investment banking, and enterprise software — including the former chair of KPMG.
Separately, Thema has been awarded a $1.7m UK government grant in partnership with the University of Cambridge to advance trustworthy AI.
The funding will be used to expand research and development and commercial operations as the company continues to onboard customers.
Thema was developed in close collaboration with tier-one private equity firms and as part of a UK government-backed programme with the University of Cambridge.
https://fintech.global/2026/02/25/thema-raises-6-2m-for-pe-portfolio-expansion-ai/
AI InsurTech General Magic closes $7.2m seed round
General Magic, an AI agent platform for the insurance industry, has closed a $7.2m seed funding round, bringing its total raised to $8.4m.
The round was led by Radical Ventures, with significant participation from a16z Speedrun, alongside new investment from Figma vice president of product Brendan O’Driscoll and Larry James Erwin from OpenAI. Comma Capital and a number of prominent operators, including Cohere CEO Aidan Gomez and members of the Braze executive team, also feature among the company’s backers.
General Magic builds AI agents that handle the routine coordination work that burdens insurance teams, spanning pre-quote eligibility, post-quote engagement, and claims coordination
https://fintech.global/2026/02/25/ai-insurtech-general-magic-closes-7-2m-seed-round/
AI Meets Blockchain: NEWITY Secures $11M Strategic Investment to Transform $350B Gap in Small Business Loan Market
NEWITY, a financial technology company transforming how small businesses access capital, today announced its $11M strategic investment led by CMT Digital. The capital will be used to scale its AI-driven lending infrastructure and to connect small business credit with blockchain-enabled capital markets.
The move positions NEWITY to address a critical market failure: while small businesses represent 99.9% of U.S. firms and employ nearly half the nation’s workforce, they face a $350 billion annual funding shortfall. By combining AI-powered underwriting with blockchain-ready capital market infrastructure, NEWITY aims to close that gap at scale while fully adhering to regulatory and compliance requirements.
Hypercore secures $13.5m Series A from Insight
Hypercore, a loan management platform for private credit funds, has raised $13.5m in Series A funding led by global software investor Insight Partner.
The $13.5m investment will accelerate the rollout of Hypercore’s AI Admin Agent, which integrates the company’s existing loan management technology with AI agents to deliver end-to-end operational infrastructure for private credit funds.
Insight Partners led the round, while Atinc, which led Hypercore’s Seed round in 2023, continues to back the company as a significant shareholder.
Private credit has grown into a $3tn market, placing increased operational demands on funds managing more complex portfolios, it said. Hypercore argues that traditional third-party admin agents often rely on manual processes that can result in errors, slow turnaround times and limited transparency
https://fintech.global/2026/02/24/hypercore-secures-13-5m-series-a-from-insight/
Financial reporting platform Inscope lands $14.5m Series A
US-based financial reporting platform Inscope has landed $14.5 million in a Series A round, bringing the firm’s total funding to date to $18.8 million.
The Series A was led by Norwest with additional participation from first-time backer Storm Ventures and existing investors Better Tomorrow Ventures, Lightspeed Ventures – which led Inscope’s $4.3 million seed round in 2023 – and strategic operators across finance and enterprise software.
Inscope was founded by Mary Antony (CEO) and Kelsey Gootnick (COO) in 2023 and launched the following year. Its AI-powered platform automates manual workflows and embeds intelligence into the reporting process, removing reliance on disconnected files and email-driven review cycles. Subsequently, it enables accountants to prepare, review, and deliver financial statements more efficiently while maintaining full audit trails.
https://www.fintechfutures.com/venture-capital-funding/inscope-lands-14-5m-series-a
Lightspeed leads $23M investment in AI startup for accounting departments Stacks
A London-headquartered AI startup targeting accountancy departments, set up by a former Uber and Plaid executive, has raised $23 million in a Series A round, led by new investor Lightspeed. The Series A in Stacks also includes returning investors EQT Ventures, General Catalyst, and S16VC. The new round follows 12 months after its $12m seed round. It has raised $35m in total.
Stacks, founded in Amsterdam but headquartered in London, is an AI platform for enterprise accounting teams. Its tech is remedying the challenge of scattered data in enterprise finance. It says that transaction-level detail is scattered across ERPs, spreadsheets, data lakes, and legacy systems, forcing teams into manual workarounds because core platforms are slow, difficult to integrate, and not built for AI.
Harper raises $47m to modernise business insurance with AI
Harper, an AI-powered commercial insurance brokerage, has raised $47m in combined seed and Series A funding.
The round was led by Emergence Capital, with participation from Y Combinator, Peak XV, Antler, 10X Founders, Fellows Fund, and Outset Capital. The company also noted the Series A represents the largest publicly disclosed Series A raised by a Black founder.
Harper uses artificial intelligence to automate the traditionally labour-intensive process of commercial insurance broking, including reading applications, routing submissions, managing quotes and liaising with underwriters. The platform claims to deliver coverage to businesses within 24 to 48 hours.
The company currently works with more than 165 underwriters and serves clients in sectors including manufacturing, healthcare, hospitality, transportation and construction.
https://fintech.global/2026/02/26/harper-raises-47m-to-modernise-business-insurance-with-ai/
Rowspace launches with $50M to turn institutional knowledge into compounding edge for finance
Rowspace, the AI platform that accelerates financial services firms’ decision making based on their proprietary data, launched today with $50 million in funding across a Series A co-led by Sequoia and Emergence Capital and a seed round led by Sequoia. Stripe, Conviction, Basis Set, Twine, and angels from across finance participated in both rounds. The best investors have spent decades building something invaluable: institutional judgment. The partner who’s seen five hundred deals knows which patterns matter. The credit analyst who’s survived three cycles knows what to watch for. But that knowledge is trapped across messy repositories of memos and models, email exchanges, and myriad legacy systems.
Jump to expand beyond AI meeting tools with $80m Series B
AI solutions start-up Jump has closed a Series B funding round at $80 million after onboarding more than 27,000 financial advisors in less than two years since launch.
The round was led by Insight Partners, and brings Jump’s total capital raised to $105 million. This figure includes a $20 million Series A with Battery Ventures in 2025.
Battery Ventures returned to support Jump, alongside existing investors Sorenson Capital, Pelion Venture Partners, and Citi Ventures. Angel investors Hans Tung, Ryan Anderson, and Aaron Skonnard also doubled down on Jump by taking part in the round.
New investors to the Series B included TIAA Ventures, Peterson Partners, F-Prime, and Allianz Life Ventures, the ventures arm of Allianz Life Insurance Company.
https://www.fintechfutures.com/venture-capital-funding/jump-raises-80m-series-b
AI accounting platform Basis raises $100m in Series B funding
Basis, an AI agent platform for accountants, has raised $100m in a Series B round, putting the company’s valuation at $1.15bn (S$1.45bn).
The financing was led by Accel, with partner Miles Clements involved in the deal.
Google Ventures (GV) and former Goldman Sachs chief executive Lloyd Blankfein also participated, alongside Khosla Ventures and other investors.
Basis positions its technology as a response to mounting pressure on accounting practices, citing long-term staff shortages and growing client demands.
The company develops AI agents that can interpret accounting data, learn specific client requirements, operate autonomously and then provide deliverables for review.
Basis added that it is now working with 30% of the top 25 accounting companies.
https://finance.yahoo.com/news/ai-accounting-platform-basis-raises-162148471.html
Allica Bank achieves unicorn status with $155m Series D
Allica Bank, a UK-based digital business bank, has hit unicorn status following the completion of a $155 million Series D funding round.
The round, which values the company at $1.2 billion, was supported by Ventura Capital, GLG, and Sona AM, alongside existing investors TCV and Blue Owl, who have supported Allica since 2022 and 2021, respectively.
The digital challenger reveals that the “majority of the round consists of common equity, alongside a portion of new additional Tier 1 equity capital”.
Founded in 2019, Allica Bank focuses on serving established businesses with 5-250 employees, offering business banking and savings accounts alongside lending solutions such as commercial mortgages, asset finance, and bridging finance. Additionally, the bank provides personal savings accounts for individual customers.
Tether Invests in Whop, One of the Fastest Growing Internet Markets, to Power Stablecoin Payments for the Next Generation of the Internet Economy
Tether Investments announced today a strategic investment in Whop.com, the world’s largest internet market where people can create, connect, and transact in one place. For Tether, this alignment reflects a continued focus on extending stablecoin infrastructure into real economic activity and empowering people at scale. Connecting with Whop’s global network enables faster, more efficient dollar settlement for millions of creators and users, who will have the option to choose between USD₮ and USA₮, especially in markets where existing payment systems introduce unnecessary friction and cost.
In addition to Tether’s investment in the platform’s growth, Whop will utilize Tether’s Wallet Development Kit (WDK) to offer creators and users faster, more efficient global payments while allowing them to retain direct control over their funds, removing many of the frictions associated with traditional payment infrastructure
VENTURE FUNDS
Robinhood Launches $1B Fund To Give Retail Investors Access To Space X, Stripe
Robinhood (NASDAQ:HOOD) has launched a $1 billion closed-end fund IPO, giving retail investors access to pre-IPO companies including SpaceX, Databricks, and Stripe.
The $1 Billion Fund Structure
Robinhood Ventures Fund I is raising $1 billion by selling 40 million shares at $25 each—35 million from the fund and 5 million from Robinhood, according to Bloomberg.
Investors can request shares starting February 17, with trading beginning February 26.
The fund already owns stakes in AI software firm Databricks, smart ring maker Oura Health, and UK fintech Revolut.
Additionally, it has agreed to invest in payments giant Stripe. These are the exact companies institutions have access to but retail investors normally don’t.
https://finance.yahoo.com/news/robinhood-launches-1b-fund-retail-213041031.html
Beyond the Term Sheet
As we close this week’s briefing, we are reminded that capital is merely the fuel; the vision of the founder is the engine. From the AI agents of Basis and Rowspace to the democratic shift led by Robinhood, the common thread is a refusal to accept the status quo of legacy friction.
We hope these insights provide more than just information—we hope they provide the “proximity to reality” needed to navigate your own path in this ecosystem. Thank you for being part of our 20K+ strong network of builders and backers. Stay curious, stay bold, and we will see you in the next edition.