After a slower couple of years, fintech is finding its momentum again. In Q1 2025 alone, global fintech startups pulled in a combined $10.3 billion — the highest level of funding since early 2023, according to CB Insights. With an average deal size of $17.7 million, this marks a clear signal: investor confidence is back.
Among those making the biggest waves are US fintech startups, with 19 companies already raising $50 million or more this year. These startups span a wide spectrum — from crypto platforms and digital banks to earned wage access tools and fraud prevention tech — proving that innovation in financial services is far from slowing down.
April: Plaid, Tapcheck, and Chat-Based Transfers Make Big Moves
Kicking off April, Plaid raised $575 million through a common stock sale, putting its post-money valuation at $6.1 billion. Though not a formal Series E round, the capital raise brought in major players like Franklin Templeton, Fidelity, BlackRock, and long-time backers NEA and Ribbit Capital.
Felix, which helps Latino immigrants in the US send money abroad using a chat-based interface, secured a $75 million Series B led by QED Investors. Other participants included Monashees and General Catalyst.
Los Angeles-based Rain, known for its earned wage access (EWA) platform, also locked in $75 million in Series B funding, with Prosus leading the round at a valuation of $340 million.
New York’s Ethic, an asset management platform that integrates ESG strategies, raised $64 million in a Series D round led by State Street Global Advisors. Meanwhile, Luna Technologies, a wealth management platform out of Ohio, brought in $63 million in Series C funding backed by Sixth Street Growth and major banks like UBS and Morgan Stanley.
Tapcheck, a Texas-based on-demand pay provider, raised a combined $225 million. This included a $25 million Series A extension and a $200 million credit facility from Victory Park Capital.
March: Banking, Crypto, and Global Access Take Center Stage
March saw digital banking platform Mercury close a $300 million Series C round led by Sequoia, valuing the company at $3.5 billion. Other big names included Andreessen Horowitz and Spark Capital.
Crypto payments company Mesh raised $82 million in a Series B round led by Paradigm. Interestingly, the round was transacted using PayPal’s stablecoin PYUSD.
Flex, a platform offering finance software and payments infrastructure, secured $25 million in equity and a $200 million credit facility. Equity investors included Titanium Ventures, while Victory Park Capital handled the debt financing.
ONE Amazon, a crypto-powered initiative focused on monetizing rainforest conservation, raised $105 million from Global Edge Worldwide Fund and Gorilla Technology.
Cross-border neobank Zolve raised $251 million in a mix of equity and debt. The $51 million equity Series B was led by Creaegis with support from HSBC and SBI, while $200 million in debt will help underwrite expat loans.
February: Fraud Detection, Asset Management, and Crypto Access
Crypto asset manager Bitwise raised $70 million at a $670 million valuation. Backers included Electric Capital, Khosla Ventures, and MassMutual.
Fraud and compliance platform Sardine closed a $70 million Series C, attracting support from Google Ventures, Andreessen Horowitz, and Moody’s Analytics.
Raise, a gift card marketplace with crypto ambitions, brought in $63 million from global investors like Amber Group and Borderless Capital.
Healthcare revenue management platform Candid Health raised $52.5 million in a Series C led by Oak HC/FT, just six months after its Series B.
January: Big Rounds Set the Tone for the Year
Kicking off the year, Phantom, a Solana-focused crypto wallet startup, raised $150 million at a $3 billion valuation in a Series C co-led by Sequoia and Paradigm.
Embedded payments company Highnote raised $90 million at a valuation topping $750 million. The Series B was led by Adams Street Partners.
Brooklyn-based Fundraise Up, which supports nonprofit donations, raised $70 million in a growth round led by Summit Partners.
And finally, Openly, a home insurance tech startup, raised $193 million in growth funding from Allianz X and Eden Global Partners.
