May 2026 Fintech Infrastructure Wave: Mercury, Primer, Sardine, and the End of 'Neobank Only'
One week in May 2026 saw $400M+ in fintech infra deals — banking, payments AI, fraud, stablecoins, and compliance ops, not consumer apps.
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One week in May 2026 saw $400M+ in fintech infra deals — banking, payments AI, fraud, stablecoins, and compliance ops, not consumer apps.
AlleyWatch tracked 34 deals and $2.53B for the week ending May 23 — from Modal's $355M to Hark's $700M Series A, here's what mattered.
Cupertino-based Unframe raised $50M led by Highland Europe for managed AI delivery to global enterprises — implementation beats demos.
Modal Labs raised $355M at a reported $4.65B valuation as enterprise AI coding drove ARR from ~$60M to $300M in months — here's what that means for builders.
MiRus raised $1.5B in May 2026, one of the month's largest non-AI rounds, underscoring that medical devices can still command megaround capital.
May 2026: Fasset raised $51M Series B. Live mark as of August 24 is $68M Series C at $1B, SBI Group lead. Company: >$40B annualized volume.