After experiencing a slow couple of years, the fintech sector seems to be on the rise again. In the first quarter of 2025, fintech startups worldwide secured a total funding of $10.3 billion, representing the highest level of funding since the first quarter of 2023, as reported by CB Insights. The average deal size also reached $17.7 million, the largest since 2021.
Notably, several startups related to cryptocurrency have been successful in raising significant rounds, indicating a renewed interest from investors in this area. Investors are also supporting other financial technology sectors, including payments, banking, and fraud prevention.
According to data from PitchBook, several U.S.-based fintech companies have raised $50 million or more in 2025:
April:
Plaid, a company that links bank accounts to financial applications, raised about $575 million through common stock sales at a $6.1 billion post-money valuation. This funding round, led by Franklin Templeton, included participation from new investors such as Fidelity Management and Research, BlackRock, and others, alongside existing investors NEA and Ribbit Capital. The financing was characterized as a sale of common stock, in which new shares are issued for capital, rather than a secondary share sale.
Felix, a platform aiding Latino immigrants in the U.S. with sending money abroad, raised $75 million in a Series B round led by QED Investors with involvement from Monashees, Switch Ventures, Castle Island, and other investors.
Rain, a Los Angeles-based startup offering an earned wage access app and financial wellness features, raised $75 million in a Series B round led by Prosus at a $340 million post-money valuation.
Ethic, an asset management startup based in New York City, raised $64 million in Series D funding led by State Street Global Advisors at a post-money valuation of $700 million.
Luna Technologies, a wealth management platform based in Cincinnati, raised $63 million in a Series C round led by Sixth Street Growth, with participation from Bank of America, Morgan Stanley, UBS, and TD Bank Group.
Tapcheck, an on-demand pay provider based in Plano, Texas, secured $225 million, including a $25 million Series A extension led by PeakSpan Capital and a $200 million credit facility from Victory Park Capital.
March:
Mercury, a digital banking startup, raised $300 million in primary and secondary funding at a $3.5 billion post-money valuation. Sequoia led the Series C round with participation from Coatue, CRV, Andreessen Horowitz, Spark Capital, and Marathon.
Mesh, a crypto payments startup, raised $82 million in a Series B round led by Paradigm, with contributions from Consensys, QuantumLight, Yolo Investments, among others. The funding was secured using the PayPal USD stablecoin.
Flex, which provides personal finance software and payments infrastructure, raised $25 million in equity funding along with a $200 million credit facility. The equity round was led by Titanium Ventures.
ONE Amazon, focusing on transforming rainforest conservation into an investment opportunity, raised $105 million from Global Edge Worldwide Fund and Gorilla Technology.
Zolve, a neobank supporting global citizens moving to the U.S., raised $251 million in a combination of equity and debt. The $51 million equity round was led by Creaegis, with participation from HSBC, SBI, GMO, and DG Daiwa.
February:
Bitwise, a crypto-specialist asset manager based in San Francisco, raised $70 million led by Electric Capital, reaching a post-money valuation of $670 million.
Sardine, a risk platform specializing in fraud, compliance, and credit underwriting, raised $70 million in a Series C round led by Activant Capital, reaching a post-money valuation of $680 million.
Raise, a marketplace for gift cards with interests in crypto, raised $63 million. The round included investors such as Amber Group and Haun Ventures among others.
Candid Health, a revenue cycle management platform for healthcare providers, raised $52.5 million in a Series C funding round led by Oak HC/FT, valuing the company at $250 million post-money.
January:
Phantom, a developer of a crypto wallet, raised $150 million in a Series C round at a $3 billion valuation, co-led by Sequoia Capital and Paradigm.
Highnote, a card issuing and embedded payments company, raised $90 million in a Series B round led by Adams Street Partners, taking the company’s valuation to over $750 million.
Fundraise Up, a Brooklyn-based fundraising platform for nonprofits, raised $70 million in a minority growth investment led by Summit Partners.
Openly, a provider of tech-enabled home insurance services, raised $193 million in a growth financing round co-led by Eden Global Partners and Allianz X, with participation from several existing investors.
