Second quarter closed with a frenzy of fintech fundings with 49 deals announced the last week alone, 10 more than the previous weekly record. The total amount raised was $327 million across 34 fundings with announced amounts (15 deals had undisclosed amounts). Of the total, $61.5 million was debt.
Four Finovate alums raised a total of $77 million during the week:
Klarna landed $35 million in debt
BizFi raised $20 million
Avoka raised $12 million
D3 Banking raised $10 million
Total fundings worldwide in June $1.6 billion from 186 deals compared to May which totaled $1.7 billion across 113 deals. (Note: Due to our weekly tracking methodology, there was an additional week in the June total.)
The weekly details can be found through the following links:
49 companies raised $327 million the last week of July 1 (see below)
26 companies raised $280 million week ending June 25
35 companies raised $470 million week ending June 18
38 companies raised $220 million week ending June 11
38 companies raised $300 million week ending June 4
The total number of deals YTD stands at 737, double last year’s 371. Total dollars raised YTD is now $17.4 billion, more than double the $8.4 billion more raised during the same period a year ago.
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Fintech deals by size from 25 June to 1 July, 2016:
Paycor
Online payroll system
Latest round: $45 million
Total raised: $164 million
HQ: Cincinnati, Ohio
Tags: SMB, payroll, employers, HR management, employee benefits, salary, payments
Source: FT Partners
Klarna
Ecommerce solution provider
Latest round: $35 million Debt
Total raised: $327 million ($291 million equity, $36 million debt)
HQ: Sweden
Tags: SMB, merchants, ecommece, B2B2C, payments, Finovate alum
Source: Crunchbase, Finovate
Nvest
Crowdsourced stock recommendation platform
Latest round: $33 million Series D
Total raised: $60.15 million
HQ: Toronto, Ontario, Canada
Tags: Consumer, advisors, traders, investing, wealth management, trading
Source: Crunchbase
LendingKart
Alt-lender to small businesses
Latest round: $32 million Series B
Total raised: $42 million
HQ: Ahmedabad, India
Tags: SMB, lending, commercial credit, underwriting, loans
Source: Crunchbase
West Creek Financial
Consumer purchase financing
Latest round: $28.5 million ($3.5 million Equity, $25 million Debt)
Total raised: $28.5 million
HQ: Glen Allen, Virginia
Tags: SMB, B2B2C, lending, credit, underwriting, POS, point-of-sale
Source: Crunchbase
Bizfi
Alt-lending to small businesses
Latest round: $20 million
Total raised: $20 million
HQ: New York City
Tags: SMB, lending, commercial credit, underwriting, Finovate alum
Source: Crunchbase, Finovate
Goji (formerly Consumers United)
Consumer insurance portal
Latest round: $19 million
Total raised: $89 million
HQ: Boston, Massachusetts
Tags: Autombile insurance, home insurance, life insurance, membership, price quotes, price comparison, lead gen
Source: FT Partners
D3 Banking
Banking platform
Latest round: $16.4 million
Total raised: $33.4 million
HQ: Omaha, Nebraska
Tags: Institutions, B2B2C, digital banking, small business, Finovate alum
Source: Crunchbase, Finovate
SpotCap (Rocket Internet)
Alt-lender to small businesses
Latest round: $14.4 million Series C
Total raised: $66.2 million
HQ: Berlin, Germany
Tags: SMB, lending, commerical credit, underwriting
Source: Crunchbase
Storm
Payment & trade finance for microbusinesses
Latest round: $13.2 million Series A
Total raised: $16.1 million
HQ: Barcelona, Spain
Tags: SMB, merchants, point-of-sale, ecommerce, acquiring, payments, credit/debit cards, trade finance, inventory management, BI
Source: Crunchbase
Avoka
Digital sales & account opening
Latest round: $12 million
Total raised: $12 million
HQ: Sydney, Australia & Broomfield, Colorado
Tags: Institutions, sales, markeing, online account opening, Finovate and FinDEVr alum
Source: Finovate
i3 Verticals
Payment processing
Latest round: $10 million
Total raised: $10 million
HQ: Nashville, Tennessee
Tags: SMB, merchants, payments, credit/debit cards, acquiring
Source: FT Partners
ForUsAll
401(k) platform
Latest round: $9.5 million Series A
Total raised: $12.84 million
HQ: San Francisco, California
Tags: Consumer, SMB, saving, innvesting, HR, employee benefits, employers
Source: Crunchbase
Final
Credit card with consumer controls
Latest round: $8 million Series A
Total raised: $9.1 million
HQ: California
Accelerator: Y Combinator
Tags: Consumer, lending, credit, credit/debit cards, spending controls, security
Source: Crunchbase
DV01
Marketplace lending analytics
Latest round: $7.5 million Seed
Total raised: $7.5 million
HQ: New York City
Tags: Institutions, advisors, analytics, BI, lending, loans, securitization
Source: FT Partners
SMACC
Online accounting
Latest round: $3.9 million
Total raised: $3.9 million
HQ: Potsdam, Germany
Tags: SMB, accounting, bookkeeping, billing
Source: Crunchbase
TransferGo
International funds transfers
Latest round: $3.4 million Series A
Total raised: $6.1 million
HQ: London, England, UK
Tags: Consumer, SMB, funds transfer, remittances, foreign exchange, FX
Source: Crunchbase
Apruve
Trade finance & payments platform
Latest round: $3.1 million Series A
Total raised: $3.5 million
HQ: Minneapolis, Minnesota
Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase
ProducePay
Payment solutions for the fresh-produce industry
Latest round: $2.5 million Seed
Total raised: $3.9 million
HQ: Los Angeles, California
Tags: SMB, payments, credit, underwriting, trade finance, factoring, agriculture
Source: Crunchbase
Zirra
Crowdsourced investment rating service
Latest round: $1.6 million Series A
Total raised: $2.3 million
HQ: Tel Aviv, Israel
Tags: Consumer, investing, advisors, wealth management, information, analytics, crowdsourcing
Source: Crunchbase
Payzer
Mobile payment & financing platform for field sales
Latest round: $1.5 million Debt
Total raised: Unknown
HQ: Charlotte, North Carolina
Tags: SMB, lending, credit, underwriting, payments, point-of-sale, mobile, trade finance
Source: Crunchbase
TrueBill
Recurring bill management
Latest round: $1.4 million Seed
Total raised: $1.75 million
HQ: San Francisco, California
Accelerator: Y Combinator
Tags: Consumer, billpay, personal financial management, PFM, budgeting, spending, credit/debit cards
Source: Crunchbase
FundedByMe
Equity crowdfunding platform
Latest round: $1.3 million
Total raised: $1.3 million
HQ: Stockholm, Sweden
Tags: SMB, capital raising, VC, venture capital, p2p, peer-to-peer, investing
Source: Crunchbase
Flip
P2P apartment leasing marketplace
Latest round: $1.2 million Seed
Total raised: $1.3 million
HQ: New York City
Tags: Consumer, housing, rentals, marketplace
Source: Crunchbase
LeaseAccelerator
Equipment lease management software
Latest round: $1.2 million Series
Total raised: $7.1 million
HQ: Great Falls, Virginia
Tags: SMB, entreprise, leasing, accounting, managment, compliance
Source: Crunchbase
Tribe Insurance
Social insurance
Latest round: $1 million Seed
Total raised: $1 million
HQ: Oslo, Norway
Tags: Consumer, insurance, peer-to-peer, P2p
Source: Crunchbase
Amodo
Customer platform for insurers
Latest round: $500,000 Seed
Total raised: $536,000
HQ: Zagreb, Croatia
Tags: Institutions, B2B2C, insurance, customer service, CRM
Source: Crunchbase
Cindicator
Crowdforecasting future events for financial markets
Latest round: $250,000 Convertible Note
Total raised: $270,000
HQ: New York City
Tags: Institutions, advisors, traders, investing, wealth management, trading
Source: Crunchbase
Tabster
Mobile POS system for hospitality industry
Latest round: $250,000 Convertible Note
Total raised: $250,000
HQ: Amsterdam, The Netherlands
Tags: SMB, merchants, payments, acquiring, credit/debit cards, mobile
Source: Crunchbase
Factom
Blockchain technology
Latest round: $200,000
Total raised: $3.3 million
HQ: Austin, Texas
Tags: SMB, blockchain, distributed ledger, database, security
Source: FT Partners
ValChoice
Car insurance portal
Latest round: $120,000 (Microsoft BizSpark Plus Award)
Total raised: $620,000
HQ: Bedford, New Hampshire
Tags: Autombile insurance, price quotes, price comparison, lead gen
Source: FT Partners
BanQu
Blockchain-based identity for the unbanked
Latest round: $100,000 Convertible Note
Total raised: $100,000
HQ: Minneapolis, Minnesota
Tags: Consumer, blockchain, financial inclusion, unbanked, underbanked, banking, security, identity
Source: Crunchbase
Taplend
P2P mobile lending platform
Latest round: $83,000 Seed
Total raised: $203,000
HQ: Kiev, Ukraine
Accelerator: SellaLab (Italy)/Level 39 (London)
Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase
Daalder
Mobile payments platform
Latest round: $55,000 Convertible Note
Total raised: $500,000
HQ: Amsterdam, The Netherlands
Tags: Consumer, payments, mobile, credit/debit cards
Source: Crunchbase
ExtractAlpha
Investment tools for institutional investors
Latest round: Undisclosed Seed
Total raised: $41,000 (prior to most recent funding)
HQ: Hong Kong, China
Tags: Institutions, advisors, investing, wealth management, trading, information, analytics
Source: Crunchbase
Hello Tax
Income tax preparation app
Latest round: Undisclosed
Total raised: Unknown
HQ: New Delhi, India
Tags: Consumer, tax prep
Source: Crunchbase
Insurity
Insurance management platform
Latest round: Undisclosed Private Equity
Total raised: $49.75 million (prior to above)
HQ: Hartford, Connecticut
Tags: Institutions, insurance, managment, analytics, BI
Source: Crunchbase
Karlo Compare
Financial services portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Karachi, Pakistan
Tags: Consumer, lending, banking, loans, credit cards, quotes, price comparison, discovery, lead gen
Source: Crunchbase
LIQID Investments
Wealth management & digital family office platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Berlin, Germany
Tags: Advisors, wealth managers, investing, trading, retirement
Source: Crunchbase
Loansolutions.ph
Consumer loan portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Cebu City, Philippines
Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase
LoanStreet
Loan portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Kuala Lumpur, Maylaysia
Tags: Consumer, lending, price comparison, lead gen, discovery
Source: Crunchbase
Moneybay
Foreign exchange rate portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Malaysia
Tags: Consumer, payments, fx, remittances, lead gen, price comparison
Source: Crunchbase
Musoni System
Banking software for microfinance organizations
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Amsterdam, The Netherlands
Tags: Institutions, SMB, lending, credit, underwriting, microfinance
Source: Crunchbase
MyCashOnline
Online banking services for migrants
Latest round: Undisclosed
Total raised: Unknown
HQ: Selangor, Malaysia
Tags: Consumer, payments, remittances, deposits, billpay, ecommerce
Source: Crunchbase
November First
International payments & transfers
Latest round: Undisclosed
Total raised: Unknown
HQ: Copenhagen, Denmark
Tags: Consumer, SMB, foreign exchange, FX, remittances, payments, peer-to-peer, P2P, foreign trade
Source: Crunchbase
Razorpay
Online payment gateway
Latest round: Undisclosed
Total raised: $11.6 million
HQ: Bangalore, India
Tags: SMB, payment processing, credit/debit cards, acquiring, merchants, mobile
Source: Crunchbase
Rundit
Revenue-based lending
Latest round: Undisclosed
Total raised: Unknown
HQ: Finland
Tags: SMB, lending, credit, underwriting, commercial loans, crowdfunding, P2P, investing
Source: Crunchbase
Scripbox
Online mutual fund investment platform
Latest round: Undisclosed Series B
Total raised: $2.5 million (prior to Series B)
HQ: Bangalore, India
Tags: Consumer, advisors, traders, investing, wealth management, funds
Source: Crunchbase
Surance
Retirement savings platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Amsterdam, The Netherlands
Tags: Consumer, savings accounts, investing, retirement planning, wealth management
Source: FT Partners
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