Illustration: Rebecca Zisser/Axios
Venture Capital
• Revolut, the U.K.-based digital bank, is boosting its valuation to $115b in a recently launched secondary sale. It was valued at $75b in 2025. Go deeper
• Corgi, an SF-based insurtech for underwriting AI risk, is raising at a $4b valuation. Go deeper
• Augustus, a NYC-based banking startup, raised $180m in Series B funding at a $1b valuation. Tiger Global led, joined by Hummingbird and QED, and Brevan Howard. Go deeper
• Cashea, a Venezuela-based banking and payments fintech, raised $80m. Spice Expeditions led the $20m Series A, and FinSight Ventures led the $60m Series B. Go deeper
• Genius AI, a NYC-based sales and management software maker for in-person businesses, raised $44m in Series D funding at a $1.2b valuation. Lux Capital led, joined by Bessemer Venture Partners, Imaginary Ventures, L Catterton Growth, 2048 Ventures, and StepStone Private Ventures. Go deeper
• BusinessNext, an Indian banking software and AI company, raised $40m from ServiceNow Ventures at a $700m valuation. Go deeper
• Veriqus Group, an Indian wealth tech firm, raised about $40m in funding led by Norwest Venture Partners. Go deeper
• Neo Group, an Indian wealth and asset management firm, raised about $36.3m in funding led by Peak XV Partners. Go deeper
• Natural, an SF-based AI agent payments company, raised a $30m Series A round led by Forerunner. natural.com
• Neon Commerce, an SF-based fintech solution for games, raised $13m in Series A funding. KRAFTON, a16z and Renegade Partners invested. neonpay.com
• Digital Asset, developer of the Canton Network, raised an additional $10m from Shinhan Financial Group and SC Ventures. Go deeper
• Cordant, an NYC-based fintech and banking platform, raised $8m in seed funding co-led by Motive Partners and Oak HC/FT. Go deeper
• Coverwatch, an SF-based risk evaluation company for the commercial insurance industry, raised $4.5m in pre-seed funding led by CoFound and Restive with participation from KFund and liquid2 ventures. coverwatch.com
Private Equity
• Bain and LY are considering a fresh joint offer for Kakaku.com, a Japanese online marketplace. Go deeper
• Hg invested in Street Group, a Manchester, U.K.-based provider of vertical software for the residential property market. It values the company at over €233.8m. (£200m). PXN Group backed Street Group. Go deeper
• Pepper Advantage, backed by J.C. Flowers & Co., acquired Dilosk DAC, an Irish residential mortgage origination and servicing platform. Go deeper
• Private Equity at Goldman Sachs Alternatives acquired Aegis Hedging Solutions, a The Woodlands, Texas-based commodity market intelligence business, from Greenbelt Capital Partners and Baird Capital. Go deeper
• Siris will exercise its option to maintain ownership EQ Retirement Solutions, EQ Customer Resolutions and Lenvi, a U.K. pension and from Equiniti, a U.K. stock transfer and ownership advisory. Siris agreed to sell Equiniti to Bullish (NYSE: BLSH) for $4.2b. Go deeper
• Stone Point Capital completed its investment in Amber River, a U.K.-based financial planning business. Go deeper
• Strongpoint Partners invested in The Finway Group, a Des Moines, Iowa-based national retirement plan services firm. Go deeper
• Wafra increased its shareholding in Ardian, a France-based private equity firm. Go deeper
Public Offerings
• Ionic Digital, a bitcoin miner and cloud infrastructure provider, plans to list directly on the Nasdaq on July 28. Celsius Network, Attestor Capital, and Oaktree Capital Management back the company. Go deeper
• Phalanx Acquisition I, a blank check company targeting financial and fintech businesses, filed to raise $175m. Celeres Capital backs the firm. Go deeper
• Pinnacle Acquisition, a blank check company led by former ECN Capital CEO Steven Hudson, filed to raise $200m. It is targeting the commercial and consumer finance sector. Go deeper
M&A
• Origin Merchant Partners acquired Consensus, a U.S.-based consumer-focused investment banking firm with offices in Boston and New York. Go deeper
Fundraising
• Francisco Partners closed its eighth flagship fund and fourth middle market fund with $21b. Go deeper
• IVP is raising $1.8b for its 19th flagship fund, per Newcomer. Go deeper
It's Personnel
• Nubank CEO David Vélez and BNY Mellon CEO Robin Vince have been added to OpenAI's board. Go deeper
• Norman Chen, formerly of Balyasny, joined the U.S. International Development Finance Corp. as managing director heading the ventures and growth practice. Go deeper
• Tristan Walker, founder of Walker & Company Brands, joined Collaborative Fund as a partner. He will focus on the firm's private equity strategy, Collab Holdings. collabfund.com
