Paddle, Talos and Stanhope Financial Group Grab Fintech Funding

Happy times for providers of payment infrastructure, institutional digital asset trading technology and banking services.

It’s a fintech-themed round-up this time with Paddle, Talos and Stanhope Financial Group getting funding.

Paddle, a payment infrastructure provider for software companies, has revealed its $200 million (£162 million) Series D financing, giving it a valuation of $1.4 billion (£1.1 billion).

Talos, a provider of institutional digital asset trading technology, has announced a $105 million (£85 million) Series B funding round that values the company at $1.25 billion (£1 billion).

Stanhope Financial Group, a fintech company that provides businesses with a suite of banking services, has raised in excess of $10 million (£8 million) for its Series A funding round.

Paddle Makes a Splash

New unicorn Paddle says the round was led by investment firm KKR with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital and debt financing from Silicon Valley Bank. It brings the total raised to date to $293 million (£237 million).

The London-based firm targets SaaS businesses and Paddle says it can integrate checkout, payment, subscription management, invoicing, international taxes and financial compliance processes.

It doesn’t assemble and maintain a stack of payments-related apps and services, Paddle acts as a merchant of record for its customers.

Paddle sees positive times ahead and cites Gartner, which reckons the SaaS industry, worth $397 billion (£321.4 billion) in 2021, is expected to grow to $692 billion (£560.2 billion) in 2025.

Talos Targets Legendary Status

Talos has offices in New York, London, Sweden and Singapore. The round was led by equity firm General Atlantic with participation from investors in both the traditional finance and digital asset spaces. New investors included BNY Mellon, Citi and Wells Fargo Strategic Capital. Existing investors including Andreessen Horowitz and PayPal Ventures also extended their partnerships with Talos.

Its network of services comprise a trading platform, lending marketplace, data and analytics, and portfolio and settlement tools, all offered directly or through service providers on a white-label basis.

The firm can connect to various OTC desks, crypto exchanges, FX and settlement providers. Partners listed on its website include Binance, Coinbase, Genesis and Kraken.

Talos (which in Greek mythology referred to a giant automaton made of bronze) seems to be enjoying some golden times. Its institutional trading volume has risen over 20x year-over-year. The company will use the funding for expansion into APAC and Europe. Additionally, the firm expects to expand its product lines and recruit more staff. The team has grown by over 400% during the past year and has 63 employees listed on LinkedIn.

A New Stanhope

According to Stanhope, the funding was led by venture capital firm Gate Ventures. It will be used to develop the group’s product offerings, strengthen the management team, and prepare for the launch of the company’s upcoming affiliate digital assets division, SH Digital.

Stanhope targets the SME crowd. It is based in Dublin with offices in the UK, Lithuania, Dubai, Miami and New York.

The fintech firm began operations in October 2021. Its SH Payments division, licensed as an electronic money institution, offers businesses banking services to send and receive money globally, including FX, multi-currency accounts and payments solutions.

The company’s SH Capital division, which is licensed in the DIFC, Dubai, allows institutions and family offices to access investment products. Its affiliate company, SH Digital, offers cryptocurrency liquidity and trading services.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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