At Finovate, we are all about the new, new thing. That’s why we love compiling the weekly funding report. Money (usually) flows to the best ideas (or at least the best execution of a good idea). And if that holds true, 2016 is going to be a banner year as total deals are double the pace of 2015—285 vs. 139 in 2015.
Last week, a record 36 companies raised $207 million in equity and $273 million in debt for a total of $480 million. The $6.1 billion total raised YTD is double the $3 billion at this point last year.
It was another busy week for Finovate alums with six raising new funds:\
StreetShares raised $4.5 million for its P2P lending platform for small businesses
SmartAsset raised $3.8 million for its personal finance portal
Qumram raised $2.5 million for its compliance tools
Cachet Financial Solutions raised $500,000 for its remote deposit platform
P2BInvestor added $5 million in debt for its SMB crowdfunding platform
Emailage raised an undisclosed sum for its fraud prevention technology keyed off email address
Here are the fintech deals by size from 12 March to 18 March 2016:
Future Finance
Alt-lender to students
Latest round: $170 million ($27 million Equity, $143 million Debt)
Total raised: $170 million (includes $143 million debt)
HQ: Dublin, Ireland
Tags: Consumers, lending, student loans, credit, underwriting
Source: Crunchbase
Wheels Financial (aka LoanMart)
Alt-lender focused on lending against existing automobile titles
Latest round: $100 million Debt
Total raised: Unknown
HQ: Encino, California
Tags: Consumers, finance company, vehicle lending, credit, underwriting
Source: Crunchbase
Connecture
Health insurance distribution platform
Latest round: $52 million (post-IPO equity)
Total raised: $75+ million
HQ: Atlanta, Georgia
Tags: SMB, financial institutions, insurance, healthcare, sales, service, policy management
Source: Crunchbase
Cumulus Funding
Personal loans repaid by share of income
Latest round: $31 million ($6 mil Equity, $25 mil Debt)
Total raised: $31.85 million including $25 million debt
HQ: Chicago, Illinois
Tags: Consumers, loans, lending, underwriting, secured, income share agreement (ISA)
Source: Pymnts
Momo
eWallet & mobile payments
Latest round: $28 million Series B
Total raised: $33.75 million
HQ: Ho Chi Minh City, Vietnam
Tags: Consumer, SMB, Goldman Sachs (investor), Standard Chartered (investor), payments, p2p transfers, money movement, merchants
Source: Crunchbase
LendInvest
P2P real estate lending marketplace
Latest round: $24.4 million Series B
Total raised: $58.6 million
HQ: London, England, UK
Tags: Consumers, lending, peer-to-peer, mortgage, crowdfunding, investing, underwriting, mortgage
Source: Crunchbase
Next Insurance
Insurance products for small businesses
Latest round: $13 million Seed
Total raised: $13 million
HQ: California
Tags: SMB, insurance, Finovate alum (founders)
Source: Crunchbase
Afluenta
Peer-to-peer lending marketplace
Latest round: $8 million Series B
Total raised: $10.8 million
HQ: Buenos Aires, Argentina
Tags: Consumers, lending, credit, P2P, crowdfunding, investing, underwriting, loans
Source: Crunchbase
Floqast
Accounting software
Latest round: $6.5 million Series A
Total raised: $7.85 million
HQ: Los Angeles, California
Tags: SMB, B2B, accounting, financial management, account reconciliation, bookkeeping
Source: Crunchbase
Pave
Alt-lender targeting millennials
Latest round: $5.6 million Series A
Total raised: $305.6 million (unknown mix of Debt/Equity)
HQ: California
Tags: Consumers, youth market, lending, loans, credit, underwriting
Source: Crunchbase, WSJ
P2Binvestor
Crowdfunded credit lines for small businesses
Latest round: $5 million Debt
Total raised: $6.4 million
HQ: Denver, Colorado
Tags: SMB, lending, P2P, peer-to-peer, underwriting, credit, investing, Finovate alum
Source: Crunchbase
Instarem
International remittances
Latest round: $5 million Series A
Total raised: $5 million
HQ: Gold Coast, Australia
Tags: Consumer, SMB, payments, P2p funds transfers, remittances, fx, currencies
Source: Crunchbase
StreetShares
Crowdfunding small business loans
Latest round: $4.5 million
Total raised: $8.2 million
HQ: Reston, Virginia
Tags: SMB, lending, investing, underwriting, commercial loans, P2P, Finovate alum
Source: Finovate
ChartIQ
Stock market charting tools
Latest round: $4 million
Total raised: $4.85 million
HQ: Charlottesville, Virginia
Tags: Consumers, advisors, financial institutions, data, analytics, investing, trading
Source: Crunchbase
SmartAsset
Personal finance information and advice
Latest round: $3.83 million
Total raised: $10.53 million
HQ: New York City
Tags: Consumer, personal financial information, lead gen, home buying, Finovate alum
Source: Crunchbase
CrowdStreet
Commercial real estate crowdfunding
Latest round: $3.5 million Series A
Total raised: $4.85 million
HQ: Portland, Oregon
Tags: Consumer, SMB, lending, P2P, peer-to-peer, REIT, investing
Source: Crunchbase
Qumram
Compliance tools for digital interactions
Latest round: $2.5 million
Total raised: $2.5 million
HQ: Zurich, Switzerland
Tags: Compliance, online banking, session recording, transcribing, archives
Source: Finovate
Avyst
Independent insurance agent distribution platform
Latest round: $2.5 million
Total raised: $2.5 million
HQ: Aurora, Colorado
Tags: SMB, insurance agents, sales, marketing, distribution, service, quotes
Source: FT Partners
IFMR Holdings
Indian financial inclusion platform
Latest round: $1.9 million
Total raised: $26.9 million
HQ: Taramani, India
Tags: Consumers, underbanked, unbanked
Source: Crunchbase
Finomial
Investor servicing platform
Latest round: $1.78 million
Total raised: $5.19 million
HQ: New York City
Tags: SMB, investing, advisors, trading, alternative investments, funds, investor relations, compliance, marketing
Source: Crunchbase
Zlien
Lien rights management
Latest round: $1.3 million
Total raised: $3.5 million
HQ: New Oreans, Louisiana
Tags: SMB, lending, compliance, security, construction loan, home improvement, mortgage
Source: FT Partners
Tradesocio
Community platform for investors
Latest round: $1.2 million Seed
Total raised: $1.2 million
HQ: Nicosia, Cyprus
Tags: Advisors, investing, social, marketing, sales, trading
Source: Crunchbase
Creamfinance
Alt-lender to consumers
Latest round: $1.1 million
Total raised: $7.3 million
HQ: Warsaw, Poland
Tags: Consumer, lending, underwriting, loans, credit
Source: Crunchbase
Expense Check
Smart financial search engine
Latest round: $750,000 Seed
Total raised: $750,000
HQ: Australia
Tags: SMB, B2B, data, analytics, financial management, accounting, suppliers, cost management, accounts payable, Xero (integration)
Source: Crunchbase, Financial Review
Ensygnia
Mobile payments & transactions
Latest round: $600,000
Total raised: $7.2 million
HQ: London, England, UK
Tags: SMB, merchants, payments, acquiring, credit/debit cards
Source: Crunchbase
Blockai
Digital rights management platform on the blockchain
Latest round: $547,000 Seed
Total raised: $547,000
HQ: San Francisco, California
Tags: SMB, blockchain, cyrptocurrency, bitcoin
Source: Crunchbase
Cachet Financial Solutions
Remote deposit platform
Latest round: $500,000
Total raised: $24.3 million
HQ: Minneapolis, Minnesota
Tags: Financial institutions, B2B2C, deposits, checking accounts, mobile banking, Finovate alum
Source: Crunchbase
Mobetize
Mobile payments platform for telecom companies
Latest round: $500,000
Total raised: $3.2 million
HQ: Reno, Nevada
Tags: Enterprise, payments, mobile, carrier billing
Source: FT Partners
Wealthy
Investing tools
Latest round: $240,000 Seed
Total raised: $240,000
HQ: Bangalore, India
Tags: Consumers, tax-savings, investing, personal finance, financial planning
Source: Crunchbase
Cover
Insurance quotes via mobile camera
Latest round: $120,000
Total raised: $120,000
HQ: Toronto, Ontario, Canada
Tags: Consumer, SMB, insurance, quotes, mobile, photo capture, Y Combinator (investor), YC W16
Source: YCombinator
WorldCover
P2P platform providing insurance for the unbanked
HQ: New York City
Latest round: $120,000
Total raised: Unknown
Tags: Underbanked, insurance, investing, crowdfunding, peer-to-peer, Y Combinator (YC W16)
Source: YCombinator
Orderly Health
Healthcare transaction monitor
Latest round: $100,000
Total raised: $100,000
HQ: Denver, Colorado
Tags: Consumer, healthcare, spending, health insurance, personal finance management (PFM)
Source: Crunchbase
Ghaio Fintech
Personal finance portal
Latest round: $16,000
Total raised: $16,000
HQ: Brazil
Tags: Consumers, personal finance information, lead gen, advice
Source: Crunchbase
Emailage
Fraud solutions based on email addresses
Latest round: Undisclosed
Total raised: Unknown
HQ: Phoenix, Arizona
Tags: Financial institutions, enterprises, security, fraud prevention, Wipro (strategic investor), Finovate alum
Source: FT Partners
Dimont
Loan administration services for residential & commercial lenders
Latest round: Undisclosed
Total raised: Unknown
HQ: Dallas, Texas
Tags: Lenders, loan administration, service, compliance, lending
Source: Crunchbase
TaxTim
Tax preparation technology
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Cape Town, South Africa
Tags: Consumers, tax prep, personal financial management
Source: Crunchbase
The post Fintech Fundings: 36 Companies Raise $480 Million Week Ending March 18 appeared first on Finovate.