Nine Finovate alums raised more than $113 million in Q1 of 2024. The relatively low fundraising results for the first three months of the year do reflect larger trends in fintech funding. But the fact that nearly half of the alums that raised funds in Q1 did not disclose the amounts raised tells us that the quarterly funding haul for Finovate alums was higher than the $113 million we have been able to confirm.
Previous quarterly comparisons
- Q1 2023: $453 million raised by 13 alums
- Q1 2022: $365 million raised by 11 alums
- Q1 2021: $3.3 billion raised by 26 alums
- Q1 2020: $1.3 billion raised by 14 alums
The biggest fundraising month of Q1 was likely January, which featured the $58 million investment secured by Digital Onboarding. Again, the high number of “amount undisclosed” investments makes comparison difficult.
Top Equity Investments from Q1 2024
- Digital Onboarding: $58 million
- Argyle: $30 million
- Amplify Life Insurance: $16.3 million
- Altro: $4 million
As noted above, Digital Onboarding pulled in the biggest investment of any Finovate alum in the first three months of the year. Also noteworthy was the $30 million raised by Argyle, a real-time income data platform that made its Finovate debut at FinovateSpring in 2022.
Here is our detail alum funding report for Q1 2024.
January: More than $58 million raised by three alums
- Allied Payment Network: undisclosed – news
- Digital Onboarding: $58 million – post
- Trust & Will: undisclosed – news
February: More than $21 million raised by three alums
- Amplify Life Insurance: $16.3 million – news
- NayaOne: $4.7 million – post
- Stratyfy: undisclosed – news
March: More than $34 million raised by three alums
If you are a Finovate alum that raised money in the first quarter of 2024 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.