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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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Snyk snags $530M at $8.5B valuation

Boston-based application security developer closed a $530 million Series F at a valuation of $8.5 billion—more than tripling its value since the beginning of 2021.

The round was co-led by and , with participation from new investors , , , and , and existing investors , funds managed by , , , , , 1, and

The deal included both primary and secondary offerings with more than $300 million of new working capital.

Founded in 2015, the company has now raised a total of $775 million to date.

— Chris Metinko

Challenger bank Varo Money closes on $510M

San Francisco-based has raised $510 million led by valuing the company at $2.5 billion. Since receiving its bank charter over a year ago, Varo Money has doubled its opened accounts to 4 million as well as tripling its revenue according to the company. The 4-year-old company supports financial inclusion with products like no minimum balance or overdraft fees, cash advances and a credit card that helps customers repair their credit.

— Gené Teare

Fintech

Scalapay raises $155M: Milan-based buy now, pay later provider raised $155 million as part of a Series A round led by , with participation from and .

The company allows buyers of fashion, furniture and other consumables to pay for their purchases over three installments.

Founded in 2019, the company currently offers its services in Italy, France, Germany, Spain, Portugal, Finland, Belgium, Netherlands and Austria.

Nuula lands $120M for small biz fintech: Toronto-based , developer of an app delivering business metrics and financial products for small businesses, raised $120 million in a debt and equity round. The financing includes $20 million in equity funding led by and a $100 million credit facility provided by funds managed by the credit group of .

— Joanna Glasner

Health tech

• Flo raises $50M for women’s health app: London-based women’s health app said this week that it has closed a $50 million Series B financing led by and . Flo said it will use the new capital to hire more employees and for R&D into new product features. Its app focuses on women’s health and includes period, fertility and pregnancy tracking features. The company said its headcount has more than doubled in the last two years to 350 people and that it aims to have $100 million in ARR by the end of 2021.

Crypto

Mastercard acquires CipherTrace: has agreed to acquire Menlo Park, California-based cryptocurrency intelligence company . Founded in 2015, the crypto company has raised more than $45 million to date, according to Crunchbase.

— Chris Metinko

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