It was a week for smaller funding rounds in the FinTech sector, with a total of $541m raised across 15 deals.
It marked a significant drop from the previous week where a pair of $400m rounds helped bring the week’s total capital raised to $1.2bn across 21 deals.
Only six of the deals this week secured more than $10m, however, two deals managed to break the $100m barrier.
CyberTech company Armadin managed to close the biggest deal of the week, pulling in a total of $255.5m for its Series B round. The investment, which comes just seven months after Armadin launched out of stealth mode, brought its valuation to over $2.5bn.
The second company to raise over $100m this week was WealthTech company Jeeves. The stablecoin-native banking platform netted $110m in equity financing and came alongside the launch of its own stablecoin wallet capable of sending payouts to 190 countries.
In terms of location, the US dominated the week, accounting for 11 of the 15 deals. The US-based companies are: Armadin, Jeeves, Reco, HIFI, Modulate, Elio Mortgage, Menos AI, Mona, Palma.ai, MoneyStack and RiskScout.
The only other countries represented, with one deal apiece, were Saudi Arabia (erad), Luxembourg (Osavul), France (Marble) and Portugal (FRANK).
Global RegTech investments experienced a dip on Q1 2026, according to research from RegTech Analyst. Global RegTech companies raised $734.8m across 108 deals in Q2 2026, which represented a 38% decline in funding from the $1.19bn recorded across 124 transactions in Q2 2025. Deal volumes fell by 13% over the same period.
As for sectors, it was a big week for RegTech, which had a total of five deals. These were: Modulate, Osavul, Marble, Palma.ai and RiskScout. It was followed by WealthTech (Jeeves, Menos AI and MoneyStack) and marketplace lending (erad, Elio Mortgage and Mona) with three deals each.
Elsewhere, there were two CyberTech deals (Armadin and Reco), one infrastructure and enterprise software funding round (HIFI) and one InsurTech investment round (FRANK).
FinTech Global recently spoke to a couple of WealthTech experts about the rising trend of personalisation. What was once a differentiator has turned into a must-have, rather than optional. But as all firms start to offer personalised services, what comes next?
Research from FinTech Global this week found that Q2 was a strong quarter for the FinTech sector. Global FinTech investments increased 56% QoQ during the second quarter, with a total of $30.9bn across 872 deals. This is compared to Q1 when $19.8bn was recorded across 896 deals.
Funding also improved on Q2 2025. Against the same quarter a year earlier, funding was up 34% from the $23bn raised across 850 deals in Q2 2025, with deal volume broadly stable at 3% higher.
Here are the 15 FinTech funding rounds covered on FinTech Global this week.
Armadin hits $2.5bn valuation with $255.5m Series B
Armadin, an AI-native cybersecurity firm focused on autonomous security, has secured $255.5m in a Series B round that lifts its valuation above $2.5bn just seven months after its launch from stealth.
Andreessen Horowitz (a16z) and Accel jointly led the round. Bain Capital Ventures (BCV) and Redpoint joined as new backers, while 8VC, Ballistic Ventures, Google Ventures, In-Q-Tel, Kleiner Perkins and Menlo Ventures all invested again. The latest raise takes the total capital Armadin has secured to $445m.
Since coming out of stealth seven months ago, the company has been running agentic attack campaigns live for Fortune 500 businesses and government clients. Armadin argues that frontier AI models are shrinking the gap between a vulnerability becoming public and a functioning exploit appearing, leaving occasional penetration tests unable to keep up. Traditional scanners also fall short, the firm says, since they assess each issue on its own rather than in context.
To tackle this, Armadin uses a swarm of specialised autonomous agents that think like an experienced attacker across an organisation’s attack surface. These agents link together weaknesses that would each be rated low severity, building verified kill chains that can stretch from unauthenticated remote code execution at the network edge, through lateral movement, to a complete cloud takeover. Security teams in enterprises and government can then view the precise routes an attacker could exploit today, understand the potential impact of each, and cut them off before they are used.
The new capital will go towards expanding the agentic security platform, as well as growing the company’s research, training and go-to-market activities.
Jeeves bags $110m to scale stablecoin banking platform
Jeeves, a stablecoin-native banking platform serving global enterprises, has secured $110m in equity financing and unveiled its own stablecoin wallet capable of sending payouts to 190 countries.
CoinFund led the investment. Other backers included AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute and Y Combinator, among others.
The funding follows strong growth for the business. Revenue has quadrupled over 14 months, and volume has tripled compared with the previous year. Annualised total volume across its card and payments products now exceeds $5bn.
Jeeves is also widening the reach of its stablecoin card, taking it from 25 countries to 35. The new markets include Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. As a result, the company now serves almost all of Central and South America, in addition to its existing presence in North America, the United Kingdom and Europe. Jeeves will also open a Madrid office to support the global rollout of its stablecoin-native cards and payments services.
Alongside the wallet, the company is introducing an AI-powered global spend tracking tool and an accounts receivable module. Together, these products let businesses send money, monitor expenditure and collect payments in one system. Companies no longer need to piece together banks, spreadsheets and standalone tools in each market where they operate.
Reco raises $55m to secure the agentic enterprise
Reco, an agentic security company that protects AI agents and the environments they operate in, has closed an additional $55m in funding, lifting its total capital raised to $140m.
AT&T Ventures took part as a strategic investor, while Forestay and Quadrille Capital joined as new backers. The company plans to put the capital towards growing its sales, partnerships, channels and customer support functions.
Reco is positioning itself to support large enterprises as they progress from initial agent security pilots to wider rollouts.
The company’s technology gives security teams insight into which agents are running, the identities and permissions they rely on, the data and systems within their reach, the workflows they are able to trigger, and how hazardous access can be limited or removed. Reco connects with hundreds of major AI providers and enterprise applications, among them OpenAI, Anthropic, Microsoft Copilot, Salesforce, ServiceNow and Workday, allowing customers to govern agents inside the tools where they already function.
Underpinning the platform is the Reco Graph, which links agents, identities, applications, permissions, data and workflows. Using this identity and posture context, teams can uncover agents and AI-enabled tools, rank risks according to business impact and resolve issues accurately. Rather than having to either halt AI adoption or tolerate unmanaged exposure, organisations can use Reco to trim excessive permissions, withdraw stale access, switch off risky integrations and apply policy while legitimate work continues uninterrupted.
HIFI lands $37m to rebuild the plumbing of tokenised money
HIFI, the New York-based provider of infrastructure for stablecoins and tokenised money, has secured $37m in Series A funding as it pushes beyond payments into cards and capital markets.
Left Lane Capital led the round, and Left Lane’s Matt Miller will take a seat on the HIFI board. The company said it selected the investor for its track record of supporting founders who tackle difficult problems in complicated markets, as well as for the hands-on operational help it gives firms as they scale.
HIFI plans to put the capital to work in three areas. It intends to secure further regulatory licences so that a larger share of its technology stack operates directly under its own authorisation. It will expand headcount in New York and in a limited number of overseas markets. It also aims to move its product beyond payments into cards and capital markets, where issues around custody and control remain unresolved and, according to the company, carry the greatest value for whoever solves them. The firm is currently recruiting across engineering, compliance and go-to-market roles.
HIFI has also been active with institutional players. In July, its platform took part in DTCC’s tokenised repo pilot. It additionally supported a live tokenised repo transaction on Tradeweb between DRW and Marex, which settled on the Canton Network using USDCx for the cash leg. On the payments side, developers can combine HIFI’s stablecoin settlement with Visa Direct, including newly launched stablecoin push-to-card payouts, while an integration with the Circle Payments Network gives clients additional settlement routes.
Modulate lands $25m as voice AI outgrows the transcript
Modulate, a frontier audio AI company, has secured $25m in fresh capital as organisations wake up to the fact that machines speaking fluently is only half the problem, and understanding what is actually said, and how, is the harder half.
Future Ventures led the round, joined by Hyperplane and Lakestar. The firm will direct the money into AI and machine learning research, product and engineering, developer relations and partnerships, while widening the range of APIs, models and deployment choices open to developers.
The raise arrives on the back of strong technical and commercial traction. Modulate’s models now process upwards of 10 million hours of audio monthly, and the company has passed the 600 million hour mark in total.
Its transcription and deepfake detection tools have each taken top position on Hugging Face benchmarks, with the firm claiming first place on the Open ASR Leaderboard and on the platform’s deepfake speech test. Transcription is priced at $0.03 per hour for batch jobs, and deepfake detection scores 98.9% accuracy on public benchmark data.
At the centre of the business sits Velma, a conversation understanding platform that the company says delivers twice the true positive accuracy of conventional LLMs and seven times fewer false positives.
Rather than working from text, Velma reads audio directly, picking up emotion, tone, intent, emphasis, synthetic speech and behavioural cues. These signals can stand alone or be combined to flag fraud attempts, AI agent failures, harassment, customer frustration and policy breaches, and Velma can act in real time so applications can step in mid-conversation.
erad secures $22m Series A to power GCC SME financing
erad, a Riyadh-based alternative financing provider for small and medium-sized enterprises, has closed a $22m (SAR 78.75m) Series A round. It plans to use the capital to push into new sectors and products across the GCC.
MEVP led the investment. New backers SVC, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital and Araya Ventures joined, along with returning investors Khwarizmi Ventures, Nuwa Capital, Aljazira Capital, Oraseya Capital and Joa Capital, all of which increased their commitment to the business.
The deal follows a year in which erad’s Saudi operations grew eightfold. The firm has now provided more than SAR 500m ($133m) in total financing to SMEs. It has also received over SAR 4bn ($1bn) worth of funding applications, which points to a large shortfall in working capital availability across the region.
Although erad began with a narrower focus, it now supports companies in logistics, medical equipment and wholesale distribution. Its underwriting relies on data, which lets it monitor client cash flow, control exposure and respond when businesses need more funding.
erad provides a range of working capital products for different industries. Its in-house AI models let it handle more applications and larger deals while keeping risk under control. Facilities go up to SAR 10m, are fully Shariah-compliant, and offer flexible repayment terms when businesses need them.
With the new funding, erad will build fresh financing products for capital-heavy industries such as industrial, logistics and manufacturing, which are expanding quickly in the GCC and beyond. It will also hire across the region, focusing on technology and commercial roles.
€8.5m ($9.5m) for Osavul as hybrid attacks hit infrastructure
Osavul, an AI-powered hybrid risk intelligence firm whose clients include NATO and defence bodies around the world, has closed an €8.5m Series A round to carry its security-grade capabilities into the commercial sector.
33N Ventures, a European cybersecurity investor with a global remit, led the round. Balnord, G+D Ventures and returning backer 42CAP also took part, lifting the company’s total capital raised to roughly €12m.
Osavul’s platform combines open-hod informed by years spent attributing active hostile campaigns with defence and security partners
The system detects the signals adversaries leave ahead of an operation, identifies who is targeting a given organisation, and maps that intent onto the client’s staff, sites and supply chains to forecast likely attacks. Each attribution feeds back into the models, strengthening future analysis. Outputs are traceable to evidence, checked by analysts and deployable on-premise within sovereign infrastructure, keeping sensitive data inside the client’s own environment.
Proceeds will be used to strengthen its AI capabilities, build out a commercial team and push into fresh markets and sectors, extending a platform tested with NATO and defence clients to enterprises globally.
Marble lands €6.5m ($7.3m) to automate fraud and AML compliance
Marble, a Paris-based fraud detection and anti-money laundering (AML) compliance platform, has secured €6.5m in Series A funding as it looks to make AI-driven automation more widely used by mid-market banks and FinTechs, according to EU-Startups.
Smartfin, a European venture capital and private equity firm backing high-growth B2B technology businesses, led the investment. ADNEXUS also joined the round, alongside existing investors Passion, 42Capital and Hexa. The funding brings Marble’s total raised to €9m, with TSIC also among its existing investors.
Marble will use the funding to embed AI more deeply into compliance workflows and shorten deployment times at banks and FinTechs. The company has identified four priorities: AI-powered automation, faster deployment, agentic compliance and adaptable systems.
This includes applying AI to rule creation, alert triage and case investigation, alongside on-premises deployments that connect to a bank’s existing data rather than requiring months of transformation work. Marble is also developing native AI agents restricted to the data they are authorised to access.
The company also wants to turn rule and workflow updates into routine configuration work for compliance officers, reducing the need to launch a new technology project for each change.
Marble’s no-code platform allows compliance and risk teams to create their own transaction monitoring rules without relying on vendors or IT departments. It also supports sanctions and watchlist screening, investigations and reporting, customer risk scoring and A/B testing of rules against live data.
Marble is targeting more than €5m in annual recurring revenue by 2027 as it seeks to make automated, AI-powered compliance a standard part of financial crime operations.
Elio Mortgage raises $5.1m to rebuild lending with AI
Elio Mortgage, a New York-based mortgage company using artificial intelligence across the home loan process, has emerged from stealth with $5.1m in pre-seed funding as it targets the cost and complexity of mortgage origination.
Motive Partners and Social Leverage co-led the round, with Jeff Horing, co-founder and managing director of Insight Partners, also participating as an angel investor. Elio plans to use the funding to develop its product, expand its licensed mortgage business nationwide and hire loan officers for its AI-native brokerage.
Elio operates as a licensed mortgage provider rather than a standalone software vendor, with an agentic platform at the core of its model. The technology is designed to handle more of the operational workload, allowing loan officers to dedicate more time to client relationships, advice and lending decisions.
The company is targeting changes to both mortgage workflows and the economics of originating loans, while enabling loan officers to serve more borrowers and build their client books. The same platform also supports Elio Embedded, through which the company provides mortgage services for registered investment advisers, real estate agents, homebuilders and owners of single-family rental portfolios.
Menos AI passes $10m as investors bet on AI context layers
Menos AI, an AI-native platform built for institutional investors, has secured $5.1m in Pre-A funding, taking its total capital raised past $10m.
Returning backer Copper Sky Capital led the round, and Alpha Square Group also took part. Jack Selby headed the investment on behalf of Copper Sky. Selby is also managing director at Thiel Capital.
The company introduced its Sonαr research agent in August 2025. Since then it has moved into enterprise AI infrastructure, and it now counts several of the largest asset managers globally and a number of highly sophisticated hedge funds among the firms it works with.
Menos AI lets asset managers create a secure, private and auditable context layer. The layer holds proprietary research, portfolio data, the reasoning behind investment decisions and operational workflows. Scattered knowledge becomes an organised asset the firm owns and can reuse. Its value can increase over time as analysts and agents challenge assumptions, sharpen hypotheses and add new findings.
The same base also lets AI agents take over research, reporting and operational tasks. The aim is for firms to grow their investment and client service capacity without costs rising at the same pace.
Mona raises $3.5m to widen small business capital access
Mona, an AI platform that helps small businesses in the US find capital and financial coaching, has closed an oversubscribed $3.5m funding round to grow its offering.
Sandberg Bernthal Venture Partners led the investment. Alumni Ventures, Wisdom Ventures and a group of angel investors also took part, with former Google CEO Eric Schmidt among the angels. The company already has backing from the Mastercard Strive USA Innovation Fund.
The business is tackling a scattered funding landscape. Small business owners have to deal with lenders, government schemes, grants and other sources of capital on their own, and they usually lack the in-house finance staff or advisers that bigger firms rely on. Mona brings these options together on one AI platform. Entrepreneurs fill in a single shared application. Mona then uses it to identify suitable opportunities, simplify the application process and give personalised advice.
Mona combines its AI technology with support from human coaches, so it helps owners on an ongoing basis rather than running a single search for funding. Business owners can come back to the platform as new questions or opportunities come up, and the system gets better as it builds up knowledge of each business. The company says it has already worked with thousands of small businesses and helped them obtain millions in affordable capital. It has gained early momentum in Chicago, Detroit, Jacksonville, New York City and San Francisco.
FRANK lands €2.9m to free brokers from back-office work
Portuguese InsurTech FRANK, the developer of an AI-powered platform built for insurance brokers, has secured €2.9m in a round co-led by Armilar and Start Ventures, capital that will fund further development of its technology ahead of a planned move into international markets.
According to Tech EU, the investment will be directed mainly at advancing and training FRANK’s technology. The company also intends to use the funds to improve support for its brokerage customers and to increase its research and development spending. FRANK has set 2027 as the year it will enter overseas markets, and in the meantime it aims to strengthen its standing in Portugal.
At the centre of FRANK’s offering is a tool it describes as an AI Operator. This virtual assistant is built to carry out the same steps a human would take when working through brokerage systems and insurer portals. It plugs into channels such as email and WhatsApp, processes incoming documents, works out which procedure is required and alerts the broker when details are absent.
The assistant can then sign into the appropriate systems, input the necessary data and send the outcome back to the broker, whether that is a quote or a progress report on a claim.
Palma.ai raises $1.8m to govern enterprise AI agents
Palma.ai has raised $1.8m in pre-seed funding to help enterprises govern AI agents operating across their systems, with two of its investors already using the platform internally.
The round was led by D11Z, with participation from Plug and Play Ventures, Deel, Scale Now Ventures and a group of angel investors including senior executives from Cisco and Deel. D11Z and Plug and Play are also customers of Palma.ai, using the platform to give employees access to AI agents with defined permissions and controls.
Palma.ai will use the funding to expand its sales and engineering teams as businesses increasingly deploy AI agents to perform tasks across internal systems.
The funding comes as enterprise AI adoption moves beyond standalone chatbots towards agents capable of carrying out work on behalf of employees.
Palma.ai aims provides a central control layer for AI agents, allowing businesses to manage permissions, tools and policies across different AI platforms. Administrators can set policies through a central console, while the platform’s Skills feature turns approved tools into repeatable workflows for tasks such as CRM updates and financial reporting.
The controls are designed to apply across AI products including Claude, Gemini, Microsoft Copilot and custom workflows. Palma.ai checks tool calls against configured policies, blocks unauthorised actions and records activity through an audit trail.
MoneyStack raises $1m to tackle gambling addiction
MoneyStack, a financial counselling platform designed for behavioural healthcare, has secured $1m in fresh investment to embed financial crisis support within treatment programmes, beginning with gambling addiction.
Cistern Capital led the round. The American Heart Association’s Social Impact Funds, O’Shaughnessy Ventures, Sidecut Ventures, Gaingels and a group of angel investors also took part. The latest capital lifts the total amount MoneyStack has raised so far to almost $2m.
MoneyStack plans to put the money towards further development of technology built specifically for financial counselling in behavioural healthcare settings. This includes GamFin, its offering for people dealing with gambling addiction. The firm also aims to turn its years of direct counselling work and client data into tools that can help its model grow. One example is analysing financial transaction data to spot early warning signs of financial harm, so that counsellors and clients can prepare in advance instead of reacting once a crisis has already hit.
MoneyStack argues that financial support is largely absent from behavioural health treatment. Clinical teams may treat the condition itself, but patients and their families are often left to deal with the financial fallout without help. The company added that this need applies across behavioural health, including mental health conditions, substance use, addictions and impulse-control disorders.
RiskScout raises capital to arm small banks against fraud
RiskScout, a US platform combining BSA/AML compliance and fraud prevention for banks and credit unions, has secured fresh investment as community lenders face growing pressure to modernise their financial crime defences.
The company did not disclose the size of the round.
LiveOak Ventures led the round. Castle Creek Launchpad, the Bankers Helping Bankers Fund, Alloy Labs, Brue2 and C3 Ventures also took part.
The raise comes after a period of rapid expansion. Over the last 12 months, RiskScout’s revenue grew more than threefold, while its customer base of banks and credit unions rose by more than 250%.
Its clients range from small community institutions holding less than $100m in assets to organisations with over $10bn under management. The company expects this momentum to carry on for the rest of 2026.
Its unified platform merges anti-money laundering compliance with fraud prevention, connects with core banking systems and takes the place of fragmented legacy tools. Using intelligent automation and AI-powered agents, the software handles labour-heavy financial crime tasks such as reviewing alerts, building customer risk profiles, conducting enhanced due diligence and preparing SAR and CTR filings. It also helps institutions stop fraud losses as they occur.
RiskScout has expanded its headcount to meet rising demand, hiring former BSA officers, compliance specialists and fraud examiners with direct regulatory and investigative backgrounds. Part of the new funding will support further hiring. The company will also put the capital towards extending its automation and AI agent capabilities, strengthening integrations with core providers and other partners, and reaching additional banks and credit unions.
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