This round brings Flink's total funding to $69M. Here are the top-line bullets you need to know.
Flink, a neobroker, has raised $57M in a Series B. The round drew participation from ALL Venture Partners, Lightspeed Venture Partners, and Accel among others.
How’s the company performing?
- Mexico City-based Flink offers a digital wallet, digital and physical global debit cards backed by Mastercard, and budgeting and savings services. It also enables users to buy and sell fractional shares for stocks listed on the New York Stock Exchange.
- The platform currently has 1.6M users — and that figure is increasing by 38% every month.
- The company reported monthly revenue growth of 31%.
- Currently, Flink has a team of 110 employees.
Why does the market matter?
- The fintech market is projected to grow at a CAGR of 23.4% to reach a value of $324B by 2026, according to Market Data Forecast.
- The global fintech adoption rate stands at 25%, signaling the presence of growth opportunities for providers and first movers.
- The market has seen a boom in funding in recent years. In Q2’21, VCs invested $30.8B in fintech companies — across 657 deals.
- The Covid-19 pandemic has driven the adoption of cashless transactions and increased demand for digital payment solutions and online payment gateways.