Crypto VC funding: Kaiko leads $180M week

Crypto and blockchain companies announced at least $180.25 million in disclosed financing across nine deals from Sep. 12 to Sep. 18. Crypto market data provider Kaiko led the week with a $110 million round backed by several major financial institutions.

Summary

• Nine crypto companies announced funding during the week, with disclosed capital totaling $180.25 million.
• Kaiko secured $110 million in the week's largest transaction, led by S&P Global.
• Fin.com raised $20 million to expand its stablecoin-based cross-border payment infrastructure.
• dtcpay added $15 million, taking its combined Series A funding to $25 million.
• Payments, tokenized credit, and institutional infrastructure accounted for most disclosed funding.

Fin.com followed with a $20 million seed round, while stablecoin payment company dtcpay added $15 million to its Series A. Funding activity centered on market data, stablecoin payments, tokenized credit, and institutional financial infrastructure.

Data from Crypto Fundraising and company announcements showed seven deals with disclosed amounts and two investments with undisclosed terms. The total excludes acquisitions announced during the period, including S&P Global's purchase of OpenZeppelin and Independent Research Forum's deal for Nomina.

Kaiko raises $110 million from financial institutions

Kaiko secured $110 million in the largest crypto financing announced during the week. S&P Global led the transaction, with BNP Paribas, Nasdaq, Royal Bank of Canada, Bpifrance, and Susquehanna also participating.

The New York-based company provides market data, indices, reference rates, and other services covering more than 150 crypto exchanges and decentralized protocols. Kaiko said it would use the capital to improve its data services and expand its product range.

The investment followed an earlier agreement combining Kaiko's digital asset indices and reference rates with S&P Dow Jones Indices' crypto products under the S&P Kaiko Digital Asset Indices brand.

Participation from S&P Global, Nasdaq, and several large banks tied the week's biggest round to growing institutional demand for regulated crypto data. Kaiko's US operations also place it within a market where exchanges, asset managers, and financial companies need reliable pricing data for trading, tokenization, and investment products.

Fin.com secures $20 million seed round

Payments infrastructure company Fin.com raised $20 million in a seed round backed by Expa, Coinbase Ventures, Tenet Fund, and Second Sight Ventures. Expa founder and Uber co-founder Garrett Camp also participated.

Fin.com combines stablecoin infrastructure with local banking networks to help businesses send and receive cross-border payments. Its platform offers multi-currency accounts, fiat and stablecoin wallets, foreign exchange services, and embedded compliance through one application programming interface.

The company says its network connects businesses with regulated payment systems in more than 30 countries and supports over 40 currencies. Fin.com targets fintech companies, payroll providers, online marketplaces, and other businesses that would otherwise need separate banking connections in each market.

Coinbase Ventures' participation gives the round a direct US link, while the company's use of stablecoins reflects continued investor interest in connecting blockchain settlement with existing payment systems.

dtcpay adds $15 million to Series A

Singapore-based dtcpay received another $15 million in Series A financing from SBI Holdings and Genedant Capital. The investment took the company's combined Series A funding to $25 million following an earlier $10 million close in March.

The company operates a regulated payment platform that allows businesses to accept, exchange, and settle fiat currency and stablecoin payments. Its products include checkout tools, point-of-sale payments, payment links, multi-currency swaps, and Visa card services.

SBI's investment adds a large traditional financial group to dtcpay's shareholder base. The company plans to expand its payment infrastructure and serve more businesses in retail, hospitality, and cross-border commerce.

The round was counted as $15 million in fresh weekly financing rather than the full $25 million cumulative Series A total.

Tare raises $13.25 million for onchain credit

Tare raised $13.25 million in seed financing for its blockchain-based credit infrastructure. Blockchain Capital led the round, with Janus Henderson Investors, Strobe Ventures, The Venture Dept, Neoclassic Capital, and the Avalanche Foundation participating.

Aave founder Stani Kulechov and Privy co-founder Henri Stern also joined the financing.

Tare is developing infrastructure for loan origination, servicing, portfolio monitoring, securitization, and structured finance. Its system uses Avalanche-based settlement and smart contracts while keeping much of the blockchain process out of the user interface.

The company's target market includes loan originators and institutional investors seeking a shared record for private-credit transactions. The deal extended the week's investment pattern beyond payments and into tokenized real-world assets.

Projects raising $10 million

• Finloop raised $10 million in Series A financing from HSBC and People's Capital. The Hong Kong-based company provides AI-supported wealth-management services covering funds, bonds, structured products, digital assets, and tokenized real-world assets. The database records the transaction separately from a $10 million Series A announced in July 2025.
• Velocity secured $10 million in additional Series A financing at a reported $200 million valuation. Haun Ventures, Mirana Ventures, Circle Ventures, Ripple, Visa, and Translink Capital participated. The company develops stablecoin treasury and settlement services for businesses, payment providers, and financial institutions.

Funding under $10 million

• Tenka completed a $2 million pre-seed round led by Maven 11 Capital, with Gami Capital participating. The London-based company is building infrastructure for asset-backed finance and private credit, including standardized deal vaults, independent valuations, onchain reporting, and a secondary matching system. Tenka plans to launch its platform later in 2026.

Undisclosed strategic rounds

• PonyGo received an undisclosed investment from Pantera Capital. The project describes itself as a Web3 financial platform spanning asset management, yield products, real-world assets, token launches, and travel services. The investment was excluded from the disclosed weekly total.
• Rep closed an undisclosed angel round backed by Amber Group and a group of individual crypto investors. Rep is developing a portable reputation network that links verified onchain activity, social accounts, achievements, and community contributions to user-controlled profiles.