Crypto Onramp Raises $72Mn; Public Acquires Treasury App; Anthropic & FIS Partner

ADP, BLS jobs data is better than expected. Crypto onramp Fun raises $72Mn. Versana scores $43Mn for syndicate loan platform. Trading startup Liquid lands $18Mn seed round. Long Lake acquires Amex GBT business. Public acquires investing education platform Treasury App. Anthropic partners with FIS.

CRB Securities served as financial advisor to Reap on its $600 million sale to Payward. CRB Securities is Cross River's fintech-native investment bank and operates as the capital markets layer for next-generation financial infrastructure. Read the full press release here.

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Better-than-Expected Jobs Data

ADP data show the U.S. economy added 109,000 jobs in the private sector in April. The stat exceeded the consensus forecast of 84,000 and was a marked increase from the 61,000 private sector jobs added in March. Although better than expected, the employment market remains consistent with what policymakers are describing as “low-hire, low-fire.” Sectors driving the growth in April included health care, education, transportation, trade, and utilities. Bureau of Labor Statistics data out last week also showed some improvements. The hiring rate among employers in March increased to 3.5%, up from 3.1% in February and the strongest performance on the metric in about two years. The quits rate also ticked up slightly, to 2% in March from 1.9% in February, showing a marginal increase in the share of workers changing jobs. Still, the Iran war, energy prices, and fears of renewed inflationary pressures continue to weigh on the economy and the job market.

Crypto Onramp Fun Raises $72Mn

Fun, a crypto onramping platform, announced it has emerged from stealth and that it has raised a $72Mn Series A. The round was led by SignalFire and Multicoin Capital. Fun enables deposits, withdrawals, settlements for clients like popular prediction market Polymarket, in addition to crypto players like Aave and Lighter. While it only has just emerged from “stealth” mode, Fun was founded in 2022 and claims to process more than $18Bn in transactions for millions of users each year across more than 100 countries. The company plans to use the new funding to continue investing in engineering and to geographically expand into the Asia-Pacific region. The company’s CEO, Alex Fine, commented on the fundraise, saying, “Fun is focused on a simple but foundational problem: removing the technological barrier of value exchange. The infrastructure for moving money has not kept up with how the world actually works. We are building a system where value moves instantly, globally, and without friction.”

Versana Scores $43Mn for Syndicated Loan Platform

Versana, a software startup developing a database and clearinghouse platform for the corporate syndicated loan market, has announced it has raised an additional $43Mn in capital. The round was led by BNP Paribas, with support from US Bancorp, Morgan Stanley, Wells Fargo, Barclays, Deutsche Bank, Bank of America, and JPMorgan. New investors in the latest round include MassMutual Ventures, Fitch Ventures, and Motive Partners. Versana’s key offering is a real-time platform with centralized agent-bank loan data for private credit and syndicated loans. The platform enables monitoring of corporate activity and servicing events, portfolio reconciliation, and other data integrations and normalization. Versana has raised more than $125Mn since it launched in late 2022. The company plans to use the new funding to support expansion into Europe and to further enhance its data analytics and private credit offerings.

Liquid Lands $18Mn Seed Round

Trading platform startup Liquid announced it has raised $18Mn in seed funding. The round was co-led by Left Lane Capital and Neo, with the company saying it plans to use the money to enhance its trading platform. Liquid officially launched in August 2025, offering trading across crypto, equities, FX, commodities, and pre-IPO assets. Liquid claims to offer users “up to 200x leverage” on their trades. While not even in market for a year, Liquid says it has over 44,000 users who have traded more than $3Bn in asset volume since its launch. Company cofounder and CEO Franklyn Wang commented on the news, saying, “By equipping everyday users with advanced tools, including AI-driven research and execution capabilities, we enable retail traders to operate with the same speed and sophistication as professional quantitative investors.”

Long Lake Acquires Amex GBT Business

Long Lake, an investment and tech firm, has agreed to buy American Express’ Global Business Travel division in an all-cash deal worth $6.3Bn. Amex GBT, as it is sometimes referred to, offers both services and software for travel, expense management, events, and meetings. Long Lake will pay Amex GBT shareholders $9.50 per share, which is a 60.2% premium over the unit’s closing price the day before the deal was announced earlier this month. Long Lake is betting it can leverage emerging AI to transform the Amex GBT business, improving customer experience while growing the business. Long Lake CEO Alex Taubman commented on the deal, saying, “The future of business travel will be defined by AI and human agents ​working seamlessly together on behalf of every ​traveler: faster ⁠booking times, proactive disruption resolution, and frictionless travel administration.”

Public Acquires Investing Education Platform Treasury App

Public, which now describes itself as an “agentic” brokerage, announced that it has acquired educational investing platform Treasury App. Treasury App cofounder Elias Rothblatt will join Public’s operations team to focus on further developing the company’s AI capabilities. Public’s COO Stephen Sikes commented on the move, saying, “Elias and his team built a strong foundation around long-term investing and education, and we're excited to welcome those investors to Public. With Elias joining our team, this is an important step as we continue building a more intelligent, AI-driven brokerage experience that expands what investors can access and how they invest.”

Anthropic Partners With FIS

AI leader Anthropic is teaming up with a stalwart of the core banking space, Fidelity National Information Services, better known as FIS. The partnership will see the two build AI agents, leveraging Anthropic’s Claude models and FIS’s breadth of financial data. The companies said the new tools will be used to investigate drug trafficking and other crimes, with Amalgamated Bank and Bank of Montreal signing on as early clients. The capabilities are expected to become more widely available to FIS customers later in the year. The collaboration has seen Anthropic “forward-deployed engineers” embedded within teams at FIS. AI agents will be able to autonomously gather data and assemble evidence from disparate systems, potentially dramatically reducing time and cost per case. Humans will be in the loop, reviewing and making decisions about cases, according to FIS CEO Stephanie Ferris.