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More Than $1.8 Billion Raised by 29 Alums in Q2 2019

Our “Best Q2 to Date” just got bested.

Finovate alums raised more than $1.8 billion in new funding in the second quarter of 2019. The Q2 figure from this year surpasses the previous, record-setting second quarter from 2018 by more than $300 million. This year’s amount also represents an increase of more than 3x over our alum funding total of $468 million for Q1.

Previous Quarterly Comparisons

  • Q2 2018: More than $1.5 billion raised by 37 alums
  • Q2 2017: More than $726 million raised by 25 alums
  • Q2 2016: More than 510 million raised by 23 alums
  • Q2 2015: More than $840 million raised by eight alums

The second quarter of 2019 also marks our fifth billion dollar quarter since 2015.

Previous Billion Dollar Quarters

  • Q2 2018: More than $1.5 billion raised by 37 alums
  • Q1 2018: More than $1.3 billion raised by 26 alums
  • Q3 2017: More than $1 billion raised by 31 alums
  • Q3 2015: More than $1 billion raised by 40 alums

Our biggest fundraising alum for the quarter was financial management platform Sofi – by a mile. But Sofi aside there were still more than a handful of sizable investments in Finovate alums this spring, including four other nine-figure financings in Marqeta, Blend, Dashlane, and multiple-time Best of Show winner MX.

The top ten equity investments for our alums in Q2 totaled $1.35 billion, representing 75% of the quarter’s total funding.

Top Ten Equity Investments for Q2 2019

  • Sofi: $500 million
  • Marqeta: $260 million
  • Blend: $130 million
  • Dashlane: $110 million
  • MX: $100 million
  • Bill.com: $88 million
  • Alkami: $55 million
  • Clinc: $52 million
  • Synapse: $33 million
  • Payfone: $24 million

Here is our detailed alum funding report for Q2 2019.

April 2019: More than $205 million raised by seven alums

May 2019: More than $1.25 billion raised by 11 alums

June 2019: More than $375 million raised by 10 alums


If you are a Finovate alum that raised money in the second quarter of 2019, 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.