This quarter’s funding of over $120 million closely matches quarter 2 of last year, when Finovate alumni raised approximately $124 million.
Meanwhile, compared to last quarter’s $150 million, Finovate alums pulled in around $30 million less this quarter.
Here’s the quarter 2 summary for 2012:
April — $2.5 million raised by 1 company
May — $55.5 million raised by 5 companies
June — Over $62 million raised by 8 companies
Note: Funding that companies received before they demonstrated at Finovate was not counted. If you know of any funding that is not on this list and should be, please send the name of the company along with a link to the funding information to email@example.com and we will add it.
Yesterday, card-linked offers company Affinity Solutions announced it closed a round of $14.5 million in funding from Chestnut Hill Ventures.
Affinity Solutions, which counts over 4,000 financial institutions and 25,000 brick-and-mortar retailers as clients, plans to use the funding to fuel growth, finance product innovation, business development, and technology initiatives.
To learn more about Affinity Solutions, watch its FinovateSpring 2012 demo.
Later this morning, Affinity Solutions
, a rewards platform that allows consumers to redeem offers just by swiping their card:
“Coupon-on-a-Card is a patent-pending product allowing consumers to either pre-purchase or opt-in to a retailer offer and then receive the discount at the point-of-sale through the credit card swipe, not in a statement credit, but in real-time.
Retailers will be able to use Affinity’s proprietary segmentation strategies to create a marketing campaign and banks will be able to deliver the offer totally through the plastic, with no need to deal with paying up-front and receiving a statement credit later.
The receipt will show the split-tender transaction, only charging the credit/debit card for the final amount due, after the discounts/offer is applied.”
Product Launched: May 2012
HQ Location: New York, NY
Company Founded: July 1998
Metrics: Affinity Solutions has over 100 employees and manages loyalty and engagement programs with over 4,000 banks.
Introducing Jonathan Silver (President & CEO) and Michael Biamonte (Chief Technology Officer)