Updated (6/24/25)
We back?
There are still a few days left but, so far, in the second quarter of 2025, 17 Finovate alums have raised more than $1.2 billion in new funding. The sum is several times larger than last year’s Q2 investment haul, as we note below, and also featured twice as many alums securing fresh capital.
Previous quarterly comparisons
- Q2 2024: More than $292 million raised by eight alums
- Q2 2023: More than $209 million raised by ten alums
- Q2 2022: More than $984 million raised by eight alums
- Q2 2021: More than $2.8 billion raised by 14 alums
In fact, Finovate alums in the second quarter of this year raised more than they have in any Q2 since 2021. This quarter also featured three funding rounds in which the amount of the investment was undisclosed. This means that the true tally for alum funding for Q2 exceeds the $1.2 billion headline number—and perhaps by a significant margin.
Top equity investments
- Plaid: $575 million
- Scalable Capital: $176 million
- Thunes: $150 million
- Stash: $146 million
- Zopa: $106 million
The $575 million raised by Plaid is far and away the biggest equity investment for Finovate alums in Q2 of 2025. The funding round was led by Franklin Templeton, a new investor to the company, and featured participation from existing investors NEA and Ribbit Capital. The investment was a venture round, in which Plaid sold new shares to address a variety of issues, including providing liquidity to members of the Plaid team, as explained by company CEO and Co-Founder Zach Perret.
Q2 also featured a handful of other significant investments of more than $100 million. Interestingly, the four companies to receive funding in this range in recent months come from either the world of payments (Thunes) or investing (Scalable Capital, Stash, and Zopa). As fintech funding begins to recover, it will be worthwhile to watch and see if these two subsectors of our industry play a major role in leading fintech funding back toward pre-pandemic levels.
Here is our detailed alum funding report for Q2 2025.
April: More than $795 million raised by five alums
- Atomic: $10 million – post
- Hawk: $56 million – post
- Plaid: $575 million – post
- Thunes: $150 million – post
- Trust & Will: $4.5 million – post
May: More than $257 million raised by four alums
- Digishares: $1.35 million – news
- Solda.ai: $4 million – post
- Stash: $146 million – post
- Zopa: $106 million – post
June: More than $232 million raised by eight alums
- FISPAN: $30 million – post
- Icon Solutions: undisclosed – post
- Parlay Finance: $2 million – post
- Quinn: $11 million – news
- Remynt: undisclosed – post
- Scalable Capital: $175 million – post
- Supply Wisdom: $14 million – news
- Token.io: undisclosed – post
If you are a Finovate alum that raised money in the second quarter of 2025 and do not see your company listed, please drop us a note at [email protected]. We would love to share the good news! Funding received prior to becoming an alum not included.
Photo by micheile henderson on Unsplash