Funding Archives - Page 78 of 88

Fintech Fundings: 21 Companies Raise $300 Million Week Ending July 17

By Jim Bruene Posted on July 17, 2015
Categories: Funding

The Wall Street Journal reported yesterday that venture fundings of $19.2 billion in Q2 were just shy of the peak dot-c0m era (see inset). While the data wasn’t broken out by sector, I’d wager that last quarter’s $5 billion in fintech-startup funding was 5x to 10x more than in 1999/2000. Is there too much being invested? Maybe. But at least in fintech, there are vast opportunities to improve existing processes and open new markets.

Overall, it was another interesting week with Finovate alums prominently represented, accounting for nearly half (46%) of the $295 million invested globally in the fintech sector. Congratulations to Fenergo ($75 million); RealtyMogul ($35 million); Fastacash ($15 million); and Maluazai ($11 million).

In total, 21 companies raised $295.5 million, all in equity (as far as we know).

Here are the fundings from 11 July through 17 July 2015 in order of magnitude:

Fenergo
Regulatory compliance solutions for new account opening
HQ: Dublin, Ireland
Latest round: $75 million
Total raised: $80.4 million
Tags: Onboarding, compliance, KYC, account opening, Finovate alum
Source: Finovate

Ethoca
Merchant-issuer collaboration software
HQ: Toronto, Ontario, Canada
Latest round: $45 million
Total raised: $45 million
Tags: Security, merchant, card acquiring
Source: FT Partners

RealtyMogul
Marketplace lender for real estate projects
HQ: Los Angeles, California
Latest round: $35 million
Total raised: $45.1 million
Tags: Crowdfunding, mortgage, commercial real estate, P2P, person-to-person, lending, consumer, Finovate alum
Source: Finovate

Upstart
Online alt-lender
HQ: Palo Alto, California
Latest round: $35 million
Total raised: $42.7 million
Tags: Lending, near-prime, underwriting, consumer, loans
Source: Crunchbase

AcadiaSoft
Margin-call automation software
HQ:Pembroke, Massachusetts
Latest round: $30 million
Total raised: $34 million
Tags: Investing, credit, lending, margin, securities
Source: Boston Business Journal

Credit Benchmark
Independent source of consensus credit risk
HQ: London, United Kingdom
Latest round: $20 million
Total raised: $27 million
Tags: Underwriting, risk management, compliance, investing, enterprise, B2B
Source: FT Partners

Fastacash
Money and value-transfer platform
HQ: Singapore
Latest round: $15 million
Total raised: $23 million
Tags: Payments, social, mobile
Source: Finovate

Malauzai
Mobile banking platform
HQ: Austin, Texas
Latest round: $11 million
Total raised: $24 million
Tags: Digital banking, mobile
Source: Finovate

FlyPay
Mobile payment system for restaurants
HQ: Islington, England, United Kingdom
Latest round: $10.7 million Series A
Total raised: $12.4 million
Tags: Payments, mobile, mPOS, point of sale, acquiring, cards
Source: Crunchbase

Blender
Israel-based P2P loan platform
HQ: Tel Aviv, Israel
Latest round: $5 million Series A
Total raised: $5 million
Tags: P2P, lending, consumer, loans, underwriting, investing, marketplace lender
Source: Crunchbase More background: Pymnts

Estimize
Open earnings forecasts platform for investors
HQ: New York City, New York
Latest round: $3.6 million
Total raised: $6.2 million
Tags: Investing information, valuations, trading, stocks, crowdsourced, financials
Source: Crunchbase

TradingView
Investment information and research
HQ: Chicago, Illinois
Latest round: $3.6 million
Total raised: $4.3 million
Tags: Investing, research, trading, stock market
Source: Crunchbase

ClassWallet
Money-management solution for the classroom
HQ: Miami, Florida
Latest round: $1.9 million
Total raised: $3.1 million
Tags: Payments, wallet, education
Source: Crunchbase

QuikWallet (LivQuik)
Mobile point-of-sale system
Mumbai, India
Latest round: $1.6 million Seed
Total raised: $2.1 million
Tags: Payments, mobile, mPOS, merchants, acquiring, cards, SMB
Source: FirstPost

ShoCard
Identity verification via the blockchain
Latest round: $1.5 million Seed
Total raised: $1.5 million
Tags: Security, account opening, consumer, ID theft, privacy
Source: TechCrunch

Privitar
Big-data analytics for financial institutions
HQ: London, United Kingdom
Latest round: $1 million
Total raised: $1 million
Tags: Data analytics, business intelligence, BI
Source: FT Partners

Airbitz
Bitcoin wallet
HQ: San Diego, California
Latest round: $450,000
Total raised: $ million
Tags: Bitcoin, virtual currency, blockchain, mobile wallet
Source: FT Partners

GiftStarter
Platform for group gifting and payments
HQ: Seattle, Washington
Latest round: $125,000 Seed
Total raised: $160,000
Tags: Payments
Source: Crunchbase

Enepath
VoIP trading solutions
HQ: Singapore
Latest round: Undisclosed
Total raised: Unknown
Tags: Communications, VoIP
Source: FT Partners

LinQpay (unknown URL)
Digital payments solutions
HQ: Malta
Latest round: Undisclosed Seed ($10 million valuation)
Total raised: Unknown
Tags: Payments, prepaid cards, digital banking, mobile, global payments
Source: Crunchbase

MDX Technology
Market data solutions
HQ: London, United Kingdom
Latest round: Undisclosed
Total raised: Unknown
Tags: Trading, investing, enterprise, information
Source: FT Partners

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Malauzai Raises $11 Million in Venture Funding

By David Penn Posted on July 16, 2015
Categories: Funding, Malauzai Software

Malauzai Software has just filed a form D with the SEC for $11 million in equity financing.

The investors in the venture round of funding were not disclosed. But the new capital takes Malauzai Software’s total to more than $24 million. Austin Business Journal quoted Robb Gaynor, Malauzai Software founder and chief product officer, who said the funding will help support the company’s growth and “market expansion.”

Previous investors in the company include Live Oak Banking Company and Wellington Management, which led the company’s last funding round, a $6.5 million fundraising, in May 2014.

From left: Malauzai Software co-founders, CTO Danny Piangerelli and CPO Robb Gaynor who are joined here by a handful of their partners in demonstrating Malauzai’s Virtual Banking Experience at FinovateSpring 2015 in San Jose.

Malauzai specializes in developing innovative banking apps for community banks and credit unions. The company’s mobile apps and internet products give banks and CUs the ability to offer features such as P2P payments, mobile account registration, remote capture, picture billpay, and more, to their customers wherever they are and on whatever device they choose. This week, Malauzai announced a deployment of its mobile remote capture technology at Citizen’s 1st National Bank in Iowa. And in April and May, Malauzai’s new SmartwearApp for use with the Apple Watch went live with eight credit unions and community banks.

Malauzai demonstrated its Virtual Banking Experience at FinovateSpring 2015 in San Jose. Founded in 2009 and headquartered in Austin, Texas, Malauzai has more than 350 bank and credit union customers. Tom Shen is CEO.

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Realty Mogul Builds $35 Million in New Funding

By Julie Muhn (@julieschicktanz) Posted on July 15, 2015
Categories: Funding, Realty Mogul

Realty Mogul, a platform for crowdfunding real estate transactions, pulled in $35 million in funding early this week. This Series B installment is the company’s fifth round of funding since it was founded in 2012, bringing the total to $45.1 million.

Canaan Partners, the leader of Realty Mogul’s Series A round, participated in this year’s round, which was led by existing investor, Sorenson Capital.

For buyers, Realty Mogul offers debt financing of up to $1.5 million for residential properties and $25 million for commercial properties. It also has a commercial property equity option for up to $5 million. Additionally, the platform caters to both accredited retail investors and institutional investors.

Since launch, the California-based company’s platform has been used to furnish $80 million in funding for 250+ properties worth a total of $500 million. In the past year, Realty Mogul has added 70 employees and plans to hire more. In fact, the company will use the new funding to bolster its technology and data team to better analyze deals and risk.

Realty Mogul debuted its crowdfunding tool for real estate at FinovateSpring 2014 in San Jose. Check out the live demo video below.

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Fenergo Raises $75 Million from Insight Venture Partners

By David Penn Posted on July 15, 2015
Categories: Fenergo, Funding

A $75 million investment from Insight Venture Partners will help fuel international expansion for Irish client onboarding lifecycle management specialist, Fenergo.

The funding is expected to close within weeks, and will take the company’s total funding to more than $80 million. In addition to helping Fenergo enter new markets around the world, the investment will support development of a partner ecosystem including Fenergo University and Consulting Accreditation Program.

Marc Murphy, Fenergo CEO, pointed to the company’s growth in recent years as evidence that Fenergo “can deliver the solutions that financial institutions need” with regard to regulatory onboarding and client lifecycle management. “We are thrilled to have a firm like Insight Venture Partners join our team,” he said. For its part, Insight underscored Fenergo’s brand and product strength, as well as the management team, in explaining the reasons behind his firm’s investment. The hope is that continued investment, innovation, and growth will help Fenergo’s technology become the industry standard in its field.

From left: Fenergo’s Niall Twomey, CTO, and Marc Murphy, CEO, demonstrated Deal Manager at FinovateEurope 2012.

Fenergo is a leading provider of client lifestyle management solutions for investment banks, private banks, and capital markets firms. The company’s technology helps institutions manage key processes, ranging from onboarding to mangement of client and counterparty data. Fenergo also makes it easier for institutions to remain compliant with both existing and emerging regulations. With clients including Scotiabank, Sun Trust, and Royal Bank of Canada, Fenergo has reported year-over-year growth of more than 100% for the past three years in a row.

Founded in 2009 and based in Dublin, Fenergo made its Finovate debut at FinovateEurope 2012 in London. The company demonstrated its Deal Manager platform.

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Nearex Closes Series B Funding

By Julie Muhn (@julieschicktanz) Posted on July 8, 2015
Categories: Funding, Nearex

Singapore-based Nearex, a proximity-transaction solutions company, received an undisclosed amount of funding in a Series B round today. This marks the second round of funding Nearex has received from a group of investors, led by Tata Capital Growth Fund LP. Existing investors also contributed to the new round, including Japan-based BEENOS Asia and Xinvesco.

The company, which specializes in contactless micro payments, debuted Xip at FinovateSpring 2014 in San Jose. Xip’s micropayments solution offers merchants a tiny mobile point-of-sale terminal, called a XipPOS, that communicates with the consumer’s Mobile Money account via a personalized NFC sticker, XipTAG, to initiate a contactless payment.

The hardware integrates with existing mobile wallets. Nearex’s target clients include financial institutions and other mobile money service providers.

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A Dash of Good Karma: Karmic Labs Raises $5 Million

By Julie Muhn (@julieschicktanz) Posted on July 8, 2015
Categories: Funding, Karmic Labs

Was it good karma? San Francisco-based Karmic Labs, a company whose APIs offer payment and SaaS solutions to enterprises, pulled in $5 million in a Series A funding round today.

The funds come from Greycroft Partners, who led the round, with participation from Trusted Ventures, Accelerator Ventures, Pipeline VC, Correlation Ventures and individual investor Iqram Magdon-Ismail. The new amount tops the company’s 2013 Seed round, in which it garnered $2.7 million from Draper Associates. Karmic Labs’ funding now totals $7.7 million.

The company debuted its Dash Prepaid MasterCard at FinovateSpring 2015 (watch the live demo below). Dash is a business-expense-management platform that supplies employees with MasterCard prepaid cards, and enables managers to view, approve and control employee spending via a mobile app. The all-in-one system facilitates budgeting and accounting by simplifying the expense-reporting process.

The company is working with FIS as a distribution partner for Dash and plans to use the $5 million to advance Dash and create product awareness.

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Fintech Fundings: 18 Companies Raise $400 Million Week Ending July 3

By Jim Bruene Posted on July 3, 2015
Categories: Funding

As folks in the U.S. headed for the beach, investors in the rest of the world unleashed a tsunami of cash into the fintech sector. Depending on the size of the undisclosed A round to Alibaba’s Ant Financial—a valuation rumored to be $45 to $50 billion—it was probably a record week. Even without counting Ant’s funding, $400 million was raised, meaning we almost certainly had our third unicorn week in the past 12 months.

Finovate alum, BankBazaar received one of the big raises, bringing in $60 million for its Indian financial services portal, lead by none other than Amazon.

In total this week, 18 companies raised $393 million. Only three of those—worth $107 million—were in the United States. At the halfway point of 2015, we’ve tracked $8.3 billion in new fintech investments, not including the Ant round.

Here are the deals from 27 June to 3 July ranked by size:

Ant Financial
Alibaba financial services spin out: Alipay, MyBank, Sesame Credit, Y’ue Bao)
HQ: Hangzhou, China
Latest round: Undisclosed Series A ($45 billion valuation)
Total raised: Unknown
Tags: Alibaba (parent), payments, credit scoring, investments, digital banking, lending
Source: Techcrunch

GFG Group
Consumer payment services
HQ: Auckland, New Zealand
Latest round: $167 million
Total raised: $180 million
Tags: Payments, mobile, telecom
Source: Crunchbase

Chrome River Technologies
Expense reporting and invoice management
HQ: Los Angeles, California
Latest round: $100 million Series D
Total raised: $120 million
Tags: Accounting, accounts payables, SMB, enterprise
Source: Crunchbase

BankBazaar
Online marketplace for financial services
HQ: Chennai, India
Latest round: $60 million Series C
Total raised: $79 million
Tags: Personal finance shopping, loans, credit cards, insurance, lead generation, Finovate alum
Source: Finovate

Pret d’Union
P2P lending
HQ: Paris, France
Latest round: $34 million
Total raised: $52.4 million
Tags: Lending, consumer, crowdfunding, lending, investing, peer-to-peer
Source: Crunchbase

Velocity
Mobile payments and rewards systems for hospitality industry
HQ: London, England, United Kingdom
Latest round: $12 million
Total raised: $12.4 million
Tags: Mobile payments, POS, point-of-sale, tablet, order entry, SMB
Source: Crunchbase

SimplyInsured
Health insurance for small businesses
HQ: San Francisco, California
Latest round: $5.9 million Series A
Total raised: $7.7 million
Tags: Insurance, health care, SMB, Y-Combinator
Source: Crunchbase

InvoiNet
Invoice-based financing marketplace in Latin America
HQ: Argentina
Latest round: $4 million
Total raised: Unknown
Tags: SMB, accounting, payables, receivables, billing, billpay, enterprise, IFC (investor)
Source: The Paypers

Mondo
U.K. neo-bank startup
HQ: London, England, United Kingdom
Latest round: $3.1 million Seed
Total raised: $3.1 million
Tags: Consumer, personal finance, PFM, debit card, mobile, digital banking
Source: Crunchbase

Tagcash
Micropayments platform
HQ: Manila, Philippines
Latest round: $3 million Angel
Total raised: $3 million
Tags: Mobile payments
Source: Crunchbase

myCFO
Accounting and small-business financial management services
HQ:Mumbai, India
Latest round: $1.5 million Seed
Total raised: $1.5 million
Tags: Accounting, enterprise, advising, payables, receivables, cash management
Source: Crunchbase

Mobeam
Mobile reward redemption at the point-of-sale
HQ: Palo Alto, California
Latest round: $1 million
Total raised: $28 million
Tags: Mobile payments, rewards, card-linked offers, gift cards, POS, SMB, retailers, brick-and-mortar
Source: Crunchbase

Bayzat
Financial services comparison site
HQ: Dubai, UAE
Latest round: $1 million
Total raised: Unknown
Tags: Personal finance comparison, lead generation, consumer, insurance, loans, cards
Source: FT Partners

Payever
Ecommerce and payments platform
HQ: Hamburg, Germany
Latest round: $550,000
Total raised: $810,000
Tags: Payments, ecommerce
Source: Crunchbase

Tibdit
Online tipping and micropayments
HQ: Southwark, United Kingdom
Latest round: $190,000
Total raised: $300,000
Tags: Payments, micropayment, tips, publishing
Source: Crunchbase

Prometei
Predictive analytics for financial markets analysis
Latest round: $100,000 Seed
Total raised: $100,000
Tags: BI, enterprise, investing, financial advisers
Source: Crunchbase

LoanSolutions
Consumer loan discovery
HQ: Cebu, Philippines
Latest round: Undisclosed
Total raised: Unknown
Tags: Lending, lead generation, consumer
Source: Crunchbase

Moneytis
Digital platform for money exchange and remittances
HQ: Paris, France
Latest round: Undisclosed Angel
Total raised: Unknown
Tags: FX, remittances, transfers, payments, international remittances, blockchain
Source: Crunchbase

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BankBazaar Scores $60 Million in Funding Led by Amazon

By Julie Muhn (@julieschicktanz) Posted on July 2, 2015
Categories: BankBazaar, Funding

BankBazaar, an India-based company that sells financial service products on behalf of third parties, raised $60 million in Series C funding today.

The round was led by Amazon, which holds a minority stake, and marks the ecommerce giant’s second investment in BankBazaar. New investors include Fidelity Growth Partners and Mousse Partners. Existing investors Sequoia Capital and Walden International also contributed.

BankBazaar’s funding now totals $79 million, but there’s no word on a current valuation for the company.

BankBazaar has big plans for the funds. It will use the large sum to boost its technology integration, strengthen partner relationships, create an end-to-end customer experience, and expand its marketing efforts to reach a broader customer base.

The company’s technology is available to consumers on Android and iOS apps, and it currently has 23 bank partners to offer a wide portfolio of solutions to consumers.

BankBazaar demoed at FinovateAsia 2012 in Singapore.

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Fintech Fundings: 15 Companies Raise $250 Million Week Ending 26 June 2015

By Jim Bruene Posted on June 25, 2015
Categories: Funding

Naturally, we are always rooting for Finovate alums to make it big. And there are few fintech success stories bigger than 2008 alum, Credit Karma, which scored $175 million this week at a reported $3.5 billion valuation. That makes the credit-score provider the second most valuable alum (after Lending Club, currently trading at $6 billion).

Three other alums received new investments this week: Currency Cloud ($18 million), Signifyd ($7 million) and Prairie Cloudware (undisclosed).

Total investment into the fintech sector this week were $245 million flowing to 15 firms. So far this year, fintech has attracted $7.9 billion.

Following are the deals announced from 19 June to 25 June in order of size:

Credit Karma
Credit reports and personal financial services
HQ: San Francisco, California
Latest round: $175 million (at $3.5 billion valuation)
Total raised: $368 million
Tags: PFM, credit scores, credit monitoring, Finovate alum
Source: Finovate

Currency Cloud
Cross-border payments
HQ: London, England, United Kingdom
Latest round: $18 million
Total raised: $35 million
Tags: Payments, fx, remittances, transfers, SMB, Finovate alum
Source: Finovate

PayRange
Mobile payments for vending machines
HQ: Portland, Oregon
Latest round: $12 million
Total raised: $15.2 million
Tags: Payments, acquiring, SMB, mobile, cards
Source: The Oregonian

Vogogo
Payments risk and compliance management
HQ: Palo Alto, California
Latest round: $12 million
Total raised: $21.5 million
Tags: Payments, risk, compliance, SMB, merchants, cards, acquiring
Source: FT Partners

Canopy Tax (formerly Beanstalk)
Tax and accounting-practice management
HQ: Salt Lake City, Utah
Latest round: $8 million
Total raised: $10 million
Tags: Tax, adviser platform, marketing, client services, accounting, SMB
Source: Crunchbase

Signifyd
Fraud detection
HQ:
Latest round: $7 million Series A
Total raised: $11 million
Tags: Security, fraud, payments, ecommerce, Finovate alum
Source: Finovate

Digital Contact
Data analytics with financial services focus
HQ: United Kingdom
Latest round: $3.8 million
Total raised: Unknown
Tags: Investing, analytics, BI, big data, information
Source: FT Partners

Creditmantri
Consumer credit scores and lead generation
HQ: Chennai, India
Latest round: $2.5 million Series A
Total raised: $2.5 million
Tags: Credit portal, credit scoring, lead generation, loans
Source: WhoGotFunded.com

PromisePay
Payments gateway for online marketplaces
HQ: St. Louis, Missouri
Latest round: $2 million
Total raised: $2.1 million
Tags: Payments, merchants, SMB, acquiring
Source: FT Partners

BankerBay
Online investment banking platform
HQ: Bangalore, India
Latest round: $2 million Seed
Total raised: $3 million
Tags: Investing, wealth management, networking
Source: Fortune Term Sheet (26 June)

StockSpot
Online investment manager
HQ: Sydney, Australia
Latest round: $1.25 million Series A
Total raised: Unknown
Tags: Investing, wealth management, stocks, trading, equities
Source: FT Partners

Givesurance
Insurance premium commissions donated to charitable causes
HQ: Woodland Hills, California
Latest round: $900,000 Seed
Total raised: $1 million
Tags: Insurance, charitable giving, philanthropy
Source: Crunchbase

Prairie Cloudware
Digital payment solutions for financial institutions
HQ: Omaha, Nebraska
Latest round: Undisclosed
Total raised: $5 million
Tags: Payments, enterprise, Finovate alum
Source: Finovate

Pipelend
Puerto Rican marketplace lender
HQ: Puerto Rico
Latest round: Undisclosed
Total raised: Unknown
Tags: Lending, underwriting, consumer, loans, P2P, crowdfunding, investing
Source: Crunchbase

Coinplug
Bitcoin and blockchain technology
Latest round: $45,000 (award from JB Financial)
Total raised: $3.4 million
Tags: Payments, crypto-currency, bitcoin, authentication, security, virtual currency
Source: Coinbase

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Currency Cloud Cooks Up $18 Million in New Funding Round

By Julie Muhn (@julieschicktanz) Posted on June 24, 2015
Categories: Funding, The Currency Cloud

Cross-border payments as a service company Currency Cloud closed an $18 million Series C funding round this week, bringing its total funding to $36 million.

Strategic contributors to the round include SAP’s independent venture arm, Sapphire Ventures, along with the Rakuten FinTech Fund. The U.K.-based company will leverage the SAP relationship to offer cross-border money remittance services to SAP’s business customers. Currency Cloud will work with Japan-based Rakuten to help guide its expansion into Asia next year.

Existing investors also contributed to the round:

XAnge Private Equity
Notion Capital
Atlas Venture
Anthemis Group

The company will use the funds to invest in R&D, product enhancements, and to support international expansion. Last year Currency Cloud expanded to the U.S. and opened an office in New York.

Currency Cloud, which launched in 2012, has seen 100% year-over-year revenue growth over the past two years. Adding to its success, this year Currency Cloud received an eMoney license from the U.K. Financial Conduct Authority (FCA). This permits it to execute payment transactions and issue electronic money.

Michael Laven, Currency Cloud CEO, divulged additional metrics in an interview with TechCrunch:

Laven says that by the end of 2015, the company will be processing $1 billion per month in transactions. Those transactions, meanwhile, tend to be for around $15,000 to $20,000, with “many” extending to $1 million.

At FinovateSpring 2015, Currency Cloud launched Payment Engine, an API that Finovate alums such as Transferwise, Azimo, Kantox, Fidor Bank, and CurrencyTransfer use to power their services. Check out its launch video below:

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New $175 Million Investment Earns Credit Karma a $3.5 Billion Valuation

By David Penn Posted on June 23, 2015
Categories: Credit Karma, Funding, Lending Club

An investment of $175 million has boosted Credit Karma’s total capital to $368.5 million and given the company a valuation of $3.5 billion.

Participating in the Series D round were Tiger Global Management, Valinor Management, and Viking Global Investors. Credit Karma said the new funding will help them add new features to the platform.

“Today, no one tells you when your credit rating goes up or when a lower interest rate is available for your loan,” says Ken Lin, Credit Karma CEO and founder. “We’ll soon be able to let people know when they have an opportunity to save money, and if they’ll be approved, with new levels of certainty.”

Lin says he plans to leverage the data insights from the company’s more than 40 million members to “deliver top-quality insights for everyone looking to improve their personal finances.”

The funding announcement also included a preview of what Credit Karma has in store for the platform. This new functionality includes the ability to consolidate student loans with just a few clicks; comparison-shop for customized insurance quotes; find the best credit card for their spending and savings profile, and more. “Our members will be able to apply for something without filling out endless forms,” says Nikhyl Singhal, Credit Karma’s chief product officer. The goal is to ensure that customers don’t have to provide any more personal information than is absolutely necessary, while at the same time providing access to a broad variety of potential lenders.

It was less than a year ago that Credit Karma announced a valuation of $1 billion, and a little over a year since the company began providing free weekly credit reports to its members. This spring, Credit Karma launched its Thin File customer experience, which helps members with little or no credit history review their own situation to learn how to build a good credit history and see which credit products (cards and loans) would be most appropriate for their needs.

Credit Karma last demoed as part of FinovateSpring 2009. Named to Inc.’s “20 Financial Startups You Need to Know” in May, Credit Karma was founded in 2007 and is headquartered in San Francisco. It is now the second-most-valuable Finovate alum, trailing only Lending Club (LC), trading at a $6.2 billion valuation today.

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Fintech Fundings: 17 Companies Raise $250 million Week Ending June 19

By Jim Bruene Posted on June 18, 2015
Categories: Funding

After a slow start, the week finished strong, thanks largely to the $140 million raised by marketplace lenders Bond Street and LendInvest. Finovate alum, Azimo landed the fourth biggest round, $20 million at a $100 million valuation.

All told, 17 fintech companies raised $253 million ($153 million equity, $100 million debt) this week. Year-to-date, $7.7 billion has been invested in the sector.

Here are the fundraisings from 13-through-18 June, ranked by size:

Bond Street
Marketplace lender for small businesses
HQ: New York City, New York
Latest round: $110 million Series A (includes $100 million debt)
Total raised: $120.8 million (includes $100 million debt)
Tags: P2P lending, SMB, lending marketplace, investing, alt-lending, small business underwriting, credit
Source: Crunchbase

Namely
Payroll and benefits platform
HQ: New York City, New York
Latest round: $45 million Series C
Total raised: $77.8 million
Tags: Payroll, insurance, HR, benefits, SMB, enterprise
Source: Crunchbase

LendInvest
P2P mortgage lending
HQ: London, England, United Kingdom
Latest round: $34.2 million Series A
Total raised: $34.2 million
Tags: P2P, mortgage, peer-to-peer, investing, crowdfunding, lending, underwriting, credit
Source: FT Partners

Azimo
Payment processor
HQ: London, England, United Kingdom
Latest round: $20 million (at $100 million valuation)
Total raised: $31 million
Tags: Payments, SMB, Finovate alum
Source: Finovate

Lavu
Restaurant point-of-sale system
HQ: Albuquerque, New Mexico
Latest round: $15 million Series A
Total raised: $15 million
Tags: Payments, merchants, SMB, POS, iPad, acquiring
Source: Crunchbase

FundsIndia
Indian investment portal
HQ: Chennai, India
Latest round: $11 million Series C
Total raised: Unknown
Tags: Investing, insurance, mutual funds
Source: Crunchbase

PolicyGenius
Consumer comparison site
HQ: Brooklyn, New York
Latest round: $5.3 million
Total raised: $6.1 million
Tags: Life insurance, renters, pet, long-term care, lead generation, AXA (investor), Transamerica (investor)
Source: FT Partners

Harvest Exchange
Investor network
HQ: Houston, Texas
Latest round: $5 million Series B
Total raised: $9.4 million
Tags: Investing, wealth management, network
Source: Crunchbase

Pier
Mobile alt-credit
HQ: San Francisco, California
Latest round: $2 million
Total raised: $2 million
Tags: China (market), underwriting, alternative underwriting, credit reporting, mobile
Source: FT Partners

Reveal
Social cryptocurrency
HQ: San Francisco, California
Latest round: $ 1.5 million
Total raised: $ 1.5 million
Tags: Bitcoin, mobile, social media, P2P payments
Source: Crunchbase

Case
Hardware wallet for cryptocurrency
HQ: Rochester, New York
Latest round: $1.5 million
Total raised: $1.5 million
Tags: Bitcoin, virtual currency, security
Source: Crunchbase

Corlytics
Compliance and risk-management technology
HQ: Dublin, Ireland
Latest round: $1.1 million
Total raised: $1.1 million
Tags: Risk management, security, regulation, compliance
Source: Crunchbase

Pumpkin
French mobile-payments app
HQ: Lille, France
Latest round: $800,000
Total raised: Unknown
Source: WhoGotFunded.com

FairCent
Marketplace lender
HQ: India
Latest round: $250,000
Total raised: $4.25 million
Tags: P2P lending, consumer, peer-to-peer, underwriting, credit, investing
Source: WhoGotFunded.com

Sequent
Mobile wallet APIs
HQ: Mountain View, California
Latest round: Undisclosed
Total raised: More than $12 million
Tags: Mobile, payments, API
Source: FT Partners

GoFundMe
Crowdfunding site for nonprofit causes
San Diego, California
Latest round: Undisclosed ($500 million valuation)
Total raised: Unknown
Tags: P2P, peer-to-peer, fundraising, payments
Source: Crunchbase

Swave
Mobile personal finance manager
HQ: United Kingdom
Latest round: Undisclosed
Total raised: Unknown
Tags: PFM, savings accounts, mobile, Citibank (investor), Lloyds (investor)
Source: FT Partners

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