Hi there,
Aisha here, Senior Fintech Analyst at CB Insights.
Q2 had no shortage of big fintech headlines. Here's one worth a closer look.
Three companies — Ramp, Airwallex, and Mercury — raised $1.27B combined, over 11% of all fintech capital in the quarter. Most of the digital banking surge came down to them.
The one I'm watching most closely is Airwallex. Brex's exit via Capital One's acquisition left a real vacancy among spend management leaders, and Airwallex's back-to-back valuation step-ups and global expansion push read as deliberate to me.
They're making a run at Ramp's turf. Ramp's $44B valuation still dwarfs Airwallex's $11B, but the competitive dynamic between them is shifting in ways worth paying attention to.
I break this down, along with the rest of Q2's fintech trends, in our latest report.
