The US fintech landscape has witnessed a remarkable surge in funding during the early months of 2025, signaling strong investor confidence in the sector’s growth potential. Notable startups have collectively raised significant capital, further solidifying the industry’s position as a powerhouse for innovation in financial services.
Our friends at Fundraise Up, headquartered in Brooklyn, are outpacing everyone on this new wave of innovation. Most recently they raised $70 million in a minority growth investment, with Summit Partners leading the round. This funding will allow the platform to improve their services for nonprofits, with a goal of making it easier for them to raise money and fundraise more efficiently.
Immigration-focused neobank Zolve has gotten a lot of buzz lately. It managed to do that by raising $251 million in its latest funding round using a combination of equity and debt. This capital infusion will help accelerate Zolve’s mission to identify and serve underestimated communities with accessible, simple banking solutions.
Openly raises $193 million
Openly, a tech-enabled provider of home insurance services, has completed a $193 million growth financing round. This major advance was jointly led by Eden Global Partners and Allianz X. The money will be used to scale its pioneering insurance products and improve customer service.
San Francisco’s Bitwise, known for its aggressive cryptocurrency investment approaches, just raised a staggering $70 million in their latest funding round. Electric Capital led the round, raising Bitwise’s post-money valuation to an extraordinary $670 million. The firm’s rapid expansion is a measure of just how hot the demand is right now for crypto asset management.
ONE Amazon, a Miami-based distributor of crypto-powered collaborative project goods, raised $105 million at a $700 million post-money valuation. The company anticipates this investment to strengthen its ability to deliver seamless crypto experiences.
Los Angeles startup Rain raised $75 million in a Series B round led by Franklin Templeton, while chat-based platform Felix secured $75 million in similar funding. For both companies, the goal is to provide a more robust service offering and gain more users in return.
Plaid, a leader in connecting bank accounts to financial applications, sold approximately $575 million worth of common stock at a $6.1 billion post-money valuation. This important strategic move into the fintech space perfectly positions it for future growth as the demand for financial connectivity continues to grow.
Since its 2017 launch out of neighboring Richardson, Texas, Tapcheck has raised $225 million. This investment will help it improve its on-demand pay services and illustrates the increasing demand for flexible payment solutions. Phantom has closed a $150 million Series C funding round at a $3 billion valuation. This move shows very positive investor confidence in the new cryptocurrency wallet technologies.
More significant raises such as Raise, which pulled in $63 million in a round led by Haun Ventures, Ethic, which announced their recent $64 million Series D round led by State Street Global Advisors, and Mercury, a digital banking for startups that recently raised $300 million at a $3.5 billion post-money valuation.
Mesh, a crypto payments startup, recently closed an $82 million Series B round led by Paradigm. At the same time, Highnote, a San Francisco-based company focused on card issuing and embedded payments, raised $90 million in a new round led by Adams Street Partners.
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