Weekly Tech Pulse
Deel Hits $17.3B Valuation, Upgrade Valued at $7.3 Billion, Eden Closes $22 Million Series A Round, Goldman Sachs Is Acquiring Industry Ventures for Up to $965M & More!
US & International Startup & Tech News
Deel Hits $17.3B Valuation After Raising $300M from Big-Name VCs
Global payroll platform Deel has raised a $300 million Series E funding round, reaching a valuation of $17.3 billion.
The round was co-led by Ribbit Capital and Andreessen Horowitz, with participation from existing investors including Coatue Management and General Catalyst.
The company has been profitable for three years, surpassed $1 billion in annual recurring revenue, and now serves over 35,000 customers with more than 1.5 million workers across 150+ countries.
Source: Tech Crunch
Fintech Startup Upgrade Valued at $7.3 Billion in New Funding Round
Upgrade, the online lending platform founded by LendingClub’s Renaud Laplanche, has raised $165 million in a funding round led by Neuberger Berman and LuminArx Capital Management, valuing the company at $7.3 billion.
This marks the company’s first external funding since 2021, and it has been cash flow positive for three years with annualized revenue exceeding $1 billion.
The fintech plans to pursue an IPO within 12 to 18 months while using the new capital to establish employee liquidity and strengthen its balance sheet.
Source: CNBC
Goldman Sachs Is Acquiring Industry Ventures for Up to $965M as Alternative VC Exits Surge
Goldman Sachs has agreed to acquire Industry Ventures, a San Francisco-based investment firm managing $7 billion in assets, for $665 million in cash and equity, plus up to $300 million in performance-based payments through 2030.
The deal highlights the growing importance of secondary markets and alternative exit strategies as traditional venture exits like IPOs remain sluggish.
Industry Ventures specializes in secondary transactions, continuation funds, and buyouts, which now account for 25% of all liquidity in the venture ecosystem, according to founder Hans Swildens.
Source: Tech Crunch
LATAM Startup & Tech News
Eden Closes $22 Million Series A Round Led by Global Funds
Mexican healthtech Eden has closed a $22 million Series A funding round led by Sierra Ventures, Liquid 2 Ventures, and Daniel Servitje, CEO of Grupo Bimbo.
The radiology operating system, which serves over 2,200 medical institutions across Latin America and benefits 13 million patients annually, will use the funds to accelerate regional expansion, invest in AI technology development, and enter strategic new markets including the United States.
Founded by Julián Ríos, Eden operates a cloud-native RIS/PACS system that integrates advanced diagnostic tools with artificial intelligence to empower radiologists across 18 countries.
Source: CONTXTO
Bold Raises $40 Million Investment to Accelerate its Expansion in Latin America
Colombian fintech Bold has raised $40 million in a funding round led by General Atlantic, with participation from Cóndor Inverlink, InQlab, and the World Bank’s International Finance Corporation (IFC).
Founded in 2019, Bold helps small and medium-sized businesses transition from cash-based operations to digital financial ecosystems through payment solutions, lending, deposit accounts, and integrated business management tools serving nearly 200,000 active monthly users.
The company recently acquired VendeMás, a leading payment facilitator in Peru with around 30,000 active customers, marking a decisive step in Bold’s regional expansion strategy.
Source: Yahoo! News
Lemon Obtained $20 Million from Foreign Investors to Expand in Latin America
Argentine fintech Lemon has closed a $20 million Series B funding round to continue its expansion across the Latin American crypto market, aiming to reach 10 million users within the next 12 months.
The round was co-led by F-Prime Capital (a division of Fidelity Investment) and ParaFi, with participation from DRW Venture Capital, Endeavor Catalyst, Van Eck VC, and others.
Founded in 2019 by Marcelo Cavazzoli, Lemon is already profitable and plans to launch operations in Colombia, Mexico, Chile, and Brazil while expanding in Argentina and Peru, where it currently leads the retail crypto segment with 5 million total users.
Source: Infobae
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