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Fintech Fundings: 14 Companies Raise $975 Million Week Ending May 8

money_treeIt’s another unicorn week in fintech, although “only” $750 million of the nearly $1 billion in new funding was equity. Affirm’s $275 million round was rumored to include about $200 million in debt to fund its alt-lending efforts.

But that wasn’t even the biggest deal this week. Zenefits, founded by serial entrepreneur and multiple Finovate Best of Show winner Parker Conrad (SigFig, Wikinvest), took in $500 million for its health insurance disruptor. The $4.5 billion valuation puts it at the top of the worldwide fintech private-company valuation-list. Assuming it hasn’t slipped, Square still holds claim to #1 with a $6 billion valuation (October 2014).

Two demoing companies at next week’s FinovateSpring (register here) received money this week:

  • ItBit ($25 million) a NYC-based global bitcoin exchange
  • Trizic ($3 million) a new wealth-management-platform provider

In total, 14 companies raised $974 million and change (includes about $200 million of debt). Here are the deals from 2 May through 7 May ranked by size:

Zenefits
Human resources and benefits platform
HQ: San Francisco, California
Latest round: $500 million Series C (at $4.5 billion valuation)
Total raised: $583.6 million
Tags: Health insurance, SMB, payroll, 401k, benefits
Source: Crunchbase

Affirm
Alt-lending at the point-of-sale
HQ: San Francisco, California
Latest round: $275 million (including an undisclosed amount of debt, about $200 million according to TechCrunch)
Total raised: $320 million (including debt)
Tags: Indirect lending, underwriting, point-of-sale financing, SMB, payments
Source: Crunchbase

Real Matters
Real estate risk management (aka Solidifi and iv3CUS)
HQ: Markham, Ontario, Canada
Latest round: $60 million Private Equity
Total raised: $127.1 million (includes $5 million debt)
Tags: Risk management, property valuation, real estate, residential, commercial, enterprise software
Source: Crunchbase

RobinHood
Simple mobile trading service
HQ: Redwood City, California
Latest round: $50 million Series B
Total raised: $66 million
Tags: Investing, stocks, trading, mobile
Source: Crunchbase

ItBit
Global bitcoin exchange
HQ: New York City, New York
Latest round: $25 million
Total raised: $28.3 million
Tags: Bitcoin, crypto-currency, Singapore (market), FinovateSpring 2015 presenter
Source: TechCrunch

Artivest
Curated investing
HQ: New York City, New York
Latest round: $15 million
Total raised: $15 million
Tags: Investing, hedge funds, private equity
Source: Crunchbase

Fintellix (formerly iCreate)
Business analytics and risk management for banks
HQ: Bengaluru, India
Latest round: $15 million
Total raised: $27.4 million
Tags: Enterprise, BI, risk management, compliance
Source: FT Partners

Digit
Automated savings/investing platform for beginners
HQ: San Francisco, California
Latest round: $11.3 million Series A
Total raised: $13.8 million
Tags: Investing, savings
Source: Crunchbase

Zanbato
Private placement tools
HQ: Mountain View, California
Latest round: $8 million Series B
Total raised: $12.1 million
Tags: Investing, institutional investors, alt-investing
Source: FT Partners

VersaPay
Merchant payment processing and electronic invoicing
HQ: Vancouver, British Columbia, Canada
Latest round: $4.8 million Post-IPO equity
Total raised: Unknown
Tags: Payments, acquiring, SMB, merchants, invoicing
Source: Crunchbase

Third Financial Software
Wealth management software
HQ: London, United Kingdom
Latest round: $3.8 million
Total raised: Unknown
Tags: Tercero (brand), investing, portfolio management
Source: FT Partners

Trizic
Wealth management platform
HQ: San Francisco, California
Latest round: $3 million Seed
Total raised: $3 million
Tags: Investing, wealth management, FinovateSpring presenter
Source: Finovate

Omise
Digital payment provider in Southeast Asia
HQ: Bangkok, Thailand
Latest round: $2.6 million Series A
Total raised: $2.9 million
Tags: API, payments, mobile, 500 Startups (investor)
Source: TechCrunch

TradeLab
Indian provider of software for trading platforms
HQ: Bangaluru, India
Latest round: $390,000
Total raised: Unknown
Tags: Banking software
Source: FT Partners