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$656 Million Raised by 32 Alums in Q1 2016

moneybag_goldcoinsFor the third year in a row, Finovate alums raised more than $600 million in equity and debt financing in the first quarter. The tally for 2016 is likely higher than the reported $656 million in combined equity and debt given that five fundraising amounts were undisclosed.  The total was more than double the $303 million recorded in Q4 2015. 

The first quarter of 2016 demonstrates that investor interest in fintech in general and Finovate alums in specific remains robust, if not growing.

Previous Quarterly Comparisons

  • Q1 2016: $656 million raised by 32 alums
  • Q1 2015: $680 million raised by 29 alums
  • Q1 2014: $600 million raised by 23 alums
  • Q1 2013: $155 million raised by 15 alums

Looking at the alumni deals, a tip of the hat to Betterment, whose $100 million funding in March was the largest capital infusion of the quarter.Also deserving mention were Pindrop Security, which raised $75 million, and AppAnnie, which raised $63 million, both in January. The 1o largest equity investments totalled $412 million, or 62% of the funding.

Top 10 Equity Investments

  1. Betterment: $100 million
  2. Pindrop Security: $75 million
  3. AppAnnie: $63 million
  4. Taulia: $46 million
  5. Bluevine:  $40 million
  6. EZBOB: £20 million ($25 million)
  7. Xignite: $20.5 million
  8. Signifyd: $20 million
  9. Workfusion: $14 million
  10. PayActiv: $9.2 million

That said, from Betterment’s big funding to the more modest financings for companies like StockViews and AnchorID, we are proud of all our alums, the innovations they bring to market, and the investors who support them. So with no further ado, here is the Q1 detail for 2015:

January: More than $443 million raised by 12 alums 

  • AppAnnie: $63 million – post
  • BlueVine: $40 million – post
  • CUneXus: $1 million – post
  • Gem: $7 million – post
  • IP Commerce: undisclosed – post
  • LendUp: $150 million (debt and equity) – post
  • Linxo: €2 million ($2.2 million) – post
  • LoanNow: $5o million (debt) – post (“credit facility”)
  • Mambu: $8.7 million – post
  • Pindrop: $75 million – post
  • Taulia: $46 million – post
  • True Potential: undisclosed – post

February: More than $63 million raised by 9 alums 

  • ModoPayments: $2 million – post
  • PayActiv: $9.2 million – post
  • Qapital: $3.5 million – news
  • Revolut: $4.8 million – post
  • Signifyd: $20 million – post
  • Spreedly: $3 million – post
  • SwipeStox: undisclosed – news
  • Trusted Knight: undisclosed – post
  • Xignite: $20.5 million – post

March: More than $150 million raised by 11 alums

  • AnchorID: $260k (debt) – news
  • Betterment: $100 million – post
  • Bluefin: $6 million – post
  • Dealflow: $1 million (debt) – post
  • EZBOB: £20 million ($25 million) – post
  • Finagraph: undisclosed – post
  • iQuantifi: $2 million – news
  • SnoopWall: $1.13 million – news
  • Stockviews: $355,000 – post
  • Stratumn: $670,000 – news
  • Workfusion: $14 million – post

If you are a Finovate alum that raised money in the second quarter of 2016, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.