The closely-held fintechs Brex, Ramp Business, Jeeves, Fireblocks and Bolt each reported gains in their valuation during their most recent funding rounds at a time when many startups are struggling to raise money, research firm S&P Global Market Intelligence said in an analysis released this week.
Payments companies “led the pack in valuation increases” and had the biggest average increase in valuation relative to the number of days between funding rounds, S&P said in a June 10 report that included the analysis. The report, which only included U.S. companies, found no evidence of “down rounds,” where companies raise money at a discount to their previous valuations.
