After a sluggish run, fintech is picking up serious steam.
In the first quarter of 2025, fintech startups across the globe raised $10.3 billion, marking the sector’s strongest showing since Q1 of 2023. According to CB Insights, the average deal size hit $17.7 million, a peak not seen since the high-growth days of 2021.
While crypto has returned to the spotlight, a broad mix of financial technology players — from payments and neobanking to fraud prevention and financial wellness — are attracting investor confidence.
Here’s a look at 19 U.S.-based fintech companies that have each raised $50 million or more so far this year:
Big Moves in April
- Plaid secured $575M in a sale of common stock, pushing its post-money valuation to $6.1B. The round drew in major names like Franklin Templeton, Fidelity, and BlackRock.
- Felix, which offers a chat-based remittance platform for Latino immigrants, raised $75M in Series B funding led by QED Investors.
- Rain, a Los Angeles company providing earned wage access and financial wellness tools, also raised $75M. The Series B was led by Prosus.
- Ethic, a tech-driven asset management startup focused on ESG, landed $64M in a Series D led by State Street Global Advisors.
- Luna Technologies, focused on wealth management solutions, secured $63M in a Series C round that included backing from Bank of America, Morgan Stanley, and TD.
- Tapcheck closed a combined $225M raise — $25M in extended Series A equity and a $200M credit facility, backed by Victory Park Capital.
March Momentum
- Mercury, a digital banking platform, raised $300M in primary and secondary funding at a $3.5B valuation, led by Sequoia.
- Mesh, a crypto payments infrastructure firm, secured $82M in a Series B led by Paradigm. The round used PayPal USD (PYUSD), highlighting growing trust in stablecoins.
- Flex combined $25M in equity and a $200M credit facility to boost its payments and finance stack for business owners.
- ONE Amazon, offering blockchain-backed rainforest investment tools, raised $105M from Global Edge and Gorilla Technology.
- Zolve, a neobank focused on financially empowering international professionals, raised $251M (including $51M in equity) to fuel global growth.
February Standouts
- Bitwise, a crypto asset manager, pulled in $70M at a $670M valuation, led by Electric Capital.
- Sardine, an AI-powered platform for fraud and risk management, raised $70M in Series C funding from Activant Capital and others.
- Raise, blending gift cards with crypto utility, brought in $63M from investors including Haun Ventures and Amber Group.
- Candid Health, which streamlines revenue cycles for healthcare providers, closed a $52.5M Series C.
January Jumpstarts
- Phantom, a wallet platform for DeFi and NFTs, raised $150M at a $3B valuation, with participation from Sequoia and Paradigm.
- Highnote, a provider of embedded card-issuing tools, raised $90M in Series B funding.
- Fundraise Up, which builds fundraising infrastructure for nonprofits, secured $70M in growth capital from Summit Partners.
- Openly, a home insurance disruptor, raised $193M in a growth round led by Allianz X and Eden Global Partners.
What This Signals
The fintech rebound in 2025 isn’t just about flashy crypto rounds. Investors are backing infrastructure, compliance, financial wellness, and vertical-specific solutions. Many of these companies are pairing traditional equity raises with large credit facilities — a sign that scale is back on the table.
As capital flows return, so does competition — and innovation. If the trend holds, 2025 could shape up to be a pivotal year for next-gen fintech.