As July drew to a close, fundings continued at a brisk pace with 26 new fundings during the week ending July 22. However, it was slightly less than the average of 28 fintech deals per week this year.
The total amount raised this week was $532 million. More than half ($325 million) were debt commitments to two alt-lenders, CommonBond ($300 million) and West Creek Financial ($25 million). Total equity raised this week was $207 million, including $23 million to Finovate alum Capriza (F15) in a round led by Andreessen Horowitz
The total number of deals YTD stands at 818, nearly double last year’s 429. Total dollars raised YTD is $18.6 billion, double the $9.3 billion raised during the same period a year ago.
——-
Fintech deals by size from 16 July to 22 July 2016:
CommonBond
Student loan marketplace lender
Latest round: $330 million ($30 million Series C + $300 million Debt)
Total raised: $754 million ($78.6 million Equity, $675 million Debt)
HQ: New York City, New York
Tags: Consumer, credit, loans, underwriting, person-to-person, P2P, investing
Source: Crunchbase
Fantex
Building tracking stocks for professional athletes
Latest round: $60 million
Total raised: $111 million
HQ: San Francisco, California
Tags: Consumer, investing, wealth management, alt-investments
Source: Crunchbase
West Creek Financial
Consumer point-of-purchase financing
Latest round: $25 million Debt
Total raised: $28.5 million ($3.5 million Equity)
HQ: Chicago, Illinois
Tags: SMB, B2B2C, credit, loan, underwriting, POS, point of sale
Source: Crunchbase
Capriza
Mobile development tools
Latest round: $23 million Series C
Total raised: $73.5 million
HQ: Palo Alto, California
Tags: Institutions, mobile, developers, Finovate alum
Source: Finovate
Omise
Payment gateway
Latest round: $17.5 million Series B
Total raised: $20.4 million
HQ: Bangkok, Thailand
Tags: SMB, merchants, credit/debit cards, API, developers
Source: Crunchbase
Deposit Solutions
Retail deposits platform
Latest round: $16.5 million Series B
Total raised: $23.6 million
HQ: Hamburg, Germany
Tags: Institutions, consumers, deposits, banking, CDs, savings accounts, Peter Thiel (investor)
Source: Crunchbase
Deal4Loans
Financial services comparison portal
Latest round: $15 million
Total raised: $15 million
HQ: Uttar Pradesh, India
Tags: Consumer, credit, loans, mortgage, credit card, discovery, insurance, price quotes, lead gen
Source: Crunchbase
MarketInvoice
Receivables financing marketplace
Latest round: $9.5 million Series
Total raised: $29.75 million
HQ: London, England, United Kingdom
Tags: SMB, commercial credit, factoring, underwriting, person-to-person, P2P, investing
Source: Crunchbase
Guideline Technologies
401(k) investment account provider
Latest round: $7 million
Total raised: $9 million
HQ: Burlingame, California
Tags: SMB, B2B2C, employers, HR, benefits, investing, retirement savings, investing, wealth management
Source: Crunchbase
Loc8
Invoicing and quoting system for mobile workers
Latest round: $5 million Series A
Total raised: $5 million
HQ: Richmond, Australia
Tags: SMB, accounting, billing, CRM, payments, bookkeeping
Source: Crunchbase
Zlien
Lien rights platform
Latest round: $5 million Series A
Total raised: $6.75 million
HQ: New Orleans, Louisiana
Tags: SMB, institutions, construction, underwriting, mortgage, home equity loans, credit
Source: Crunchbase
Qauntifeed
Digital wealth-management platform
Latest round: $4.5 million Series A
Total raised: $4.5 million
HQ: Hong Kong
Tags: Institutions, advisers, investing, financial planning
Source: Crunchbase
Abacus Labs
Employee expense-reporting management
Latest round: $3.5 million
Total raised: $3.5 million
HQ: New York City, New York
Tags: SMB, expense reports, payments, HR, employees, bookkeeping, accounting
Source: Crunchbase
Trim
Subscription and recurring-payments monitor
Latest round: $2.2 million Seed
Total raised: $2.2 million
HQ: San Francisco, California
Tags: Consumer, mobile, personal financial management, PFM, chatbot, spending management
Source: Crunchbase
Touche
Mobile payments and personal financial management
Latest round: $2 million Seed
Total raised: $2 million
HQ: Singapore
Tags: Consumer, payments, personal financial management, PFM, biometrics, authentication, mobile
Source: Crunchbase, TechInAsia
ZipBooks
Accounting software for small businessess
Latest round: $2 million Seed
Total raised: $2 million
HQ: Lehi, Utah
Tags: SMB, accounting, bookkeeping, invoicing, billing
Source: Crunchbase
Revalu8
Real estate trading platform
Latest round: $1.5 million Seed
Total raised: $1.5 million
HQ: Sydney, Australia
Tags: Consumer, home buying, mortgage, discovery, lead gen
Source: Crunchbase
Gravie
Consumer health insurance portal
Latest round: $1 million
Total raised: $26.6 million
HQ: Minneapolis, Minnesota
Tags: Consumer, SMB, insurance management, employees, HR, benefits
Source: Crunchbase
NiYO Solutions
Payroll platform
Latest round: $1 million Seed
Total raised: $1 million
HQ: Bangalore, India
Tags: SMB, payments, employers, HR, benefits
Source: Crunchbase
Tax2Win
Tax filing portal
Latest round: $1 million Seed
Total raised: $1 million
HQ: Jaipur, India
Tags: Consumer, tax prep, payments
Source: Crunchbase
Neurensic
AI for detecting stock market manipulation
Latest round: $225,000 Convertible Note
Total raised: $225,000
HQ: Chicago, Illinois
Tags: Institutions, investing, security, fraud, traders, stocks, artificial intelligence (AI)
Source: Crunchbase
Birdly
Expense report system
Latest round: Not disclosed
Total raised: $120,000 prior to above
HQ: Paris, France
Accelerator: Y Combinator (YC)
Tags: SMB, expense reports, spending, employees
Source: Crunchbase
iServeFinancial
Financial services comparison portal
Latest round: Not disclosed
Total raised: Unknown
HQ: Pune, India
Tags: Consumer, credit, loans, credit card, discovery, insurance, price quotes, lead gen
Source: Crunchbase
Koho
Mobile banking
Latest round: Not disclosed
Total raised: $1 million
HQ: Vancouver, British Columbia, Canada
Tags: Consumer, payments, debit card, billpay, funds transfer, mobile, personal financial management, PFM
Source: Crunchbase
LQD Business Finance
Alt-lender to small businesses
Latest round: Not disclosed
Total raised: Unknown
HQ: Chicago, Illinois
Tags: SMB, commercial credit, loans, underwriting
Source: Crunchbase
ZestFinance
Consumer alt-lender
Latest round: Undisclosed Private Equity
Total raised prior to above: $262 million ($112 million Equity, $150 million Debt)
HQ: Los Angeles, California
Tags: Consumer, credit, loans, underwriting, underbanked, credit scoring
Source: Crunchbase
Dave Buerger, CUneXus president and cofounder, and Darin Chong, cofounder, presented at FinovateSpring 2016.
In a holiday-shortened week in the United States, 23 deals were announced that brought in a total of $527 million. Most ($449 million) went to Chinese payment and investment platform, Qufenqi.
Second quarter 2016 closed with a frenzy of fintech fundings: 49 deals were announced the last week alone, 10 more than the previous weekly record. The total amount raised was $327 million across 34 fundings with announced amounts (15 deals had undisclosed amounts). Of the total, $61.5 million was debt.
