Top Insights
Money didn’t spray everywhere this week, but it landed where it counts: regulated settlement rails, token infrastructure, and back-office tools that make finance actually work. Here’s what moved and why it matters.
The Big Five
Fnality
$136M Series C (UK)
London’s wholesale settlement project just pulled in $136M to expand its Fnality Payment System – a DLT network designed for central-bank money.
Bank of America, Citi, WisdomTree, Temasek, and Tradeweb led, with the usual roster of global market infra (Santander, State Street, UBS, Euroclear, Goldman, ING, Nasdaq Ventures) following.
ZeroHash
$104M Series D-2 (US)
Chicago-based ZeroHash is the invisible engine behind apps offering crypto trades, stablecoin payouts, and tokenization.
Interactive Brokers led the round; Morgan Stanley, Apollo, SoFi, and others piled in. It’s the clearest signal yet that Wall Street wants turnkey crypto rails rather than building them in-house.
RedotPay
$47M strategic (Hong Kong)
Stablecoin payments are going mainstream in Asia. RedotPay, which issues cards, multicurrency wallets, and global payouts on stablecoin rails, hit unicorn status with $47M from Coinbase Ventures, Galaxy, Vertex, and a mystery global tech founder.
The spend goes to compliance and corridor expansion as regulators in Hong Kong and beyond start tightening the screws.
Light
$30M Series A (Denmark)
Accounting close, AP, reconciliation – the unglamorous grind of finance is where Light is planting AI. Balderton Capital led its $30M round to fund U.S. expansion.
The pitch is simple: fewer late closes, faster audits, smoother workflows.
Zilo
$27M Series A2 (UK)
If you’ve ever cursed legacy transfer-agency software, Zilo has your attention. Portage led this £20M (~$27M) round, with State Street joining in.
The product: cloud-native TA infrastructure for asset managers, fund admins, and wealth platforms. Think of it as plumbing for tokenized securities and faster settlement cycles.
Startups on the Radar
Bite Investments (Bite Stream) – $25M growth (US/UK)
NewSpring backed Bite’s all-in-one platform for alternatives – onboarding, LP/GP comms, reporting. It’s pitched as the single login that replaces the PDF jungle in private markets.
Gelt – $13M Series A (US)
An AI-native tax firm for high-earning professionals.
Zvi Limon (Rimon Group), Vintage, and TLV Partners led. Gelt’s edge is combining AI with specialist CPAs to untangle multi-stream income for doctors, practice owners, and founders drowning in complexity.
This week’s money clustered around infrastructure that’s ready to ship: regulated settlement networks (Fnality), embeddable crypto rails (ZeroHash), and ops software that cuts hours off workflows (Light, Zilo, Bite).
Disclaimer: This digest is for educational purposes only and does not constitute financial advice.
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