Top Insights
Mid-January deal flow made one thing clear: fintech capital is flowing toward regulated rails, infrastructure platforms, and products that already operate at scale. Stablecoin payments, digital banking, brokerage APIs, and compliance-heavy fintech models drew the largest checks, while early-stage rounds clustered around payments, regtech, and crypto-native banking.
The Big Five
Rain
$250M Series C (United States)
Stablecoin payments platform Rain raised $250 million in a Series C round led by ICONIQ.
Rain provides enterprise-grade stablecoin infrastructure, including wallet issuance, card programs, and settlement workflows designed to mirror traditional payments while operating on digital-asset rails.
The round reinforces growing investor confidence in compliant stablecoins as operational payments infrastructure, not speculative assets.
WeLab
$220M Series D (Hong Kong)
Digital banking group WeLab secured $220 million in a Series D round combining debt and equity, led by HSBC, with participation from Prudential Hong Kong, Fubon Bank Hong Kong, Allianz X, TOM Group, and Hong Kong Investment Corporation.
WeLab serves over 70 million retail users and 700 enterprise clients across Hong Kong, Mainland China, and Indonesia. Capital will fund Southeast Asia expansion, product diversification, and AI-driven personalization across its digital banking stack.
Alpaca
$150M Series D (United States)
Brokerage-infrastructure provider Alpaca raised $150 million in Series D funding led by Drive Capital, alongside an additional credit facility.
Alpaca offers APIs that allow fintechs and platforms to embed investing and trading globally. The new capital strengthens regulatory coverage, geographic expansion, and balance-sheet flexibility as embedded investing continues scaling.
Corgi
$108M Seed + Series A (United States)
Insurtech Corgi disclosed $108 million across seed and Series A financing as it builds a licensed, full-stack insurance carrier designed for startups.
Backed by Y Combinator and Kindred Ventures, Corgi is automating underwriting, claims, and policy administration to reduce friction in startup-focused coverage models.
Wint Wealth
~$27.7M Series B (India)
Indian wealthtech Wint Wealth raised ₹250 crore (~$27.7 million) in Series B funding led by Vertex Ventures Southeast Asia & India.
The platform enables retail investors to access corporate bonds and fixed-income products,
accelerating digital distribution of traditionally institutional asset classes.
Also Notable
Knight FinTech – $23.6M Series A (India)
Banking and digital-lending infrastructure provider Knight FinTech raised $23.6 million in a Series A round led by Accel, with participation from IIFL, Rocket Capital, and existing investors including Prime Venture Partners and 3One4 Capital.
Knight supports co-lending, embedded finance, treasury, and risk tooling, and has enabled $7B+ in cumulative disbursements with $5B in active AUM.
Klearly – $12M Series A (Netherlands)
Hospitality payments fintech Klearly raised $12 million in Series A funding led by PayPal Ventures.
The platform enables SMEs to accept payments using smartphones and tablets, targeting cost-efficient, hardware-light POS adoption across Europe.
Arkk – £4.5M Growth Investment (United Kingdom)
Regtech Arkk secured £4.5 million from Gresham House Ventures to expand its cloud-based tax and regulatory reporting automation platform for CFOs.
The funding supports product expansion, regulatory coverage, and go-to-market scale.
Veera – $4M Seed (India)
Crypto-native neobank Veera raised $4 million in seed funding, led by CMCC Titan Fund and Sigma Capital, bringing total funding to $10 million.
Veera allows users to save, invest, and transact across crypto, equities, and real-world assets within a single mobile platform.
PhotonPay – Series B (“Tens of Millions”) (Hong Kong)
Stablecoin-focused payments infrastructure provider PhotonPay raised tens of millions of dollars in Series B funding led by IDG Capital, with participation from Hillhouse, Enlight Capital, Lightspeed Faction, and Shoplazza.
PhotonPay processes $30B+ in annualized volume across 200+ countries, and will use the capital to expand regulatory coverage and stablecoin clearing rails.
The pattern is consistent and sharpening:
- Stablecoins are becoming payments infrastructure, not experiments.
- Embedded finance and brokerage APIs are scaling globally, driven by partners rather than direct distribution.
- Regulation-first fintech wins capital, from digital banks to insurance carriers and regtech platforms.
- Emerging markets remain a growth engine, particularly in India and Southeast Asia.
This is fintech in execution mode.
The capital is going to companies that already sit inside financial workflows, and plan to stay there.
Disclaimer: This digest is for educational purposes only and does not constitute financial advice.
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