February 2025: Top five fintech funding stories of the month
Here, FinTech Futures runs through five of the top fintech funding stories from February, including Tabby, Rapyd, Lendo, and more.
Saudi BNPL fintech Tabby raises $160m Series E, IPO plans reportedly underway
Tabby raises $160m
Tabby, a buy now, pay later (BNPL) fintech based in Saudi Arabia, has raised $160 million in a Series E funding round at a $3.3 billion valuation.
Blue Pool Capital and Hassana Investment Company led the round, which also featured additional participation from existing investors STV and Wellington Management.
Wellington Management previously spearheaded Tabby’s $200 million Series D in 2023, which saw the company achieve unicorn status with a valuation of $1.5 billion.
With its Series E now complete, Tabby plans to continue developing its financial services suite with “digital spending accounts, payments, cards and money management tools”, the company says.
Furthermore, the fintech adds that the financing “positions Tabby strongly as it prepares for its upcoming IPO”.
Rapyd reportedly in talks over new $300m funding round at $3.5bn valuation
Rapyd, a London-based paytech, is reportedly in talks to raise $300 million to fuel its acquisition strategy, according to Bloomberg UK.
The report, which cites sources familiar with the matter, does not specify the potential investors but indicates the funding round would value Rapyd at $3.5 billion.
This potential new valuation represents a significant drop from the $9 billion valuation the company secured following its $300 million Series E funding round in August 2021.
Bloomberg UK reports that the company may use the potential new funding to purchase an unnamed payment processing start-up, according to its sources.
Saudi Arabian fintech Lendo bags $690m warehouse facility from JP Morgan
Lendo secures $690m warehouse facility
Lendo, a debt crowdfunding platform based in Saudi Arabia, has landed a $690 million (SAR 2.6 billion) warehouse facility from JP Morgan and supported by Fintech Saudi.
Lendo operates a Shari’ah-compliant peer-to-peer (P2P) lending marketplace for Saudi-based small and medium-sized enterprises (SMEs).
Since its founding in 2019, Lendo says it has facilitated over $667 million in financing across 5,000 transactions, delivering more than $33.3 million in returns to investors.
The newly secured facility will boost the firm’s lending capacity and will also support the introduction of new products as the company looks to expand its footprint within its home market.
Monument Bank reportedly eyeing £200m Series C ahead of 2027 Nasdaq listing
UK challenger Monument Bank is reportedly gearing up for a £200 million capital raise ahead of plans for a 2027 initial public listing on New York’s Nasdaq exchange, according to Sky News, which cites undisclosed sources familiar with the matter.
Existing and potential investors have been informed of the proposed Series C round, the report states, with approximately £30 million of the target amount said to be already secured.
With the funds, Monument Bank intends to list on Nasdaq “by the end of 2027”, the report continues, with “a secondary listing on a major Middle Eastern or Indian exchange possible the following year”.
Zeta secures $50m in new funding, boosts valuation to $2bn
Zeta valued at $2bn following $50m investment
Zeta, a US-based banking tech company and credit card processor, has secured $50 million from an undisclosed investor, increasing its value to $2 billion.
The raise marks a notable leap from Zeta’s previous $1.15 billion pre-money valuation, which came following a $250 million investment from SoftBank Vision Fund 2 and other marquee investors in 2021.
The fintech later went on to raise an additional $30 million from Mastercard the following year, when it entered into a five-year credit card partnership with the payments giant.
In a statement, Bhavin Turakhia, global CEO and co-founder of Zeta, indicates that the funding will be used to support the company’s growth.
