The Briefing: Circle Banks $440M, QuitoAndar Lands $300M, Full Truck Alliance Files For IPO, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Circle raises $440M

Circle, a fintech company that provides payments and treasury infrastructure for businesses that want to use digital currencies, announced $440 million in financing.

Backers include Fidelity Management and Research Co., Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group and Pillar VC, as well as Michael J. Price. The funding brings the Boston-based company’s total known funding to $711 million, according to Crunchbase data.

The company’s platform has supported over 100 million transactions by more than 10 million retail customers and 1,000-plus businesses since it was founded in 2013. The company is also a principal developer of USD Coin, which together with Coinbase and the Centre Consortium, oversees the standards and protocol for dollar digital currency, which now stands at $22 billion in circulation.

— Christine Hall

Brazilian proptech unicorn QuitoAndar lands $300M

São Paulo-based QuitoAndar, a marketplace for real estate rentals and sales, reportedly picked up $300 million in fresh funding at a valuation of $4 billion.

Ribbit Capital led the Series E financing, which roughly doubles capital raised to date, bringing it to around $635 million, per Crunchbase data.

QuitoAndar says it is currently the largest digital real estate company in Brazil, with more than 1,000 employees and over 200,000 visits to properties arranged each day through its platform.

— Joanna Glasner

Enterprise software maker Sprinklr files to go public

New York-based Sprinklr, a developer of customer experience management software, filed to go public Friday.

The company reported revenues of $386.9 million for the fiscal year ended January 31, compared to $324.3 million for the previous year. Net loss for the fiscal year ended January 31 was $41.2 million, compared to $39.1 million last year.

The software developer also reported revenues of $111 million for the quarter ended April 30 — a 19 percent increase from $93 million for the same quarter last year.

According to the company’s S-1, its largest institutional investors include Hellman & Friedman with a 24.8 percent stake, Battery Ventures with a 19.1 percent stake and ICONIQ with a 10.8 percent stake.

Sprinklr has raised a total of $429 million to date, according to Crunchbase data.

— Chris Metinko

Public offerings

Full Truck Alliance files for US IPO: China-based truck-hailing platform Full Truck Alliance (formerly known as Manbang) has filed to go public on the New York Stock Exchange. The company posted revenue of $396 million in 2020, per its filing, and a net loss of $532 million.

Funding rounds

Klarna eyes valuation over $40B with new funding: Sweden’s Klarna, the popular buy now, pay later financing unicorn, is reportedly eyeing a new funding round backed by SoftBank that would push its valuation over the $40 billion mark.

—  Joanna Glasner

Health care

Brightside raises $24M: Brightside, a mental health telemedicine platform that offers anxiety and depression care, announced a $24 million Series A led by ACME Ventures. The company said it recently enhanced its therapy model to align with the Unified Protocol, a form of cognitive-behavioral therapy for people diagnosed with anxiety disorders, depression and related emotional disorders.

— Christine Hall

Illustration: Dom Guzman

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