Finovate alums raised more than $1.4 billion in the final three months of 2025. The funding total in the fourth quarter of the year is the best Q4 for alum funding in more than a decade. The historic Q4 also takes the annual total capital raised by Finovate alums to levels not seen since 2021.
As we learn more about the overall level of fintech funding in the fourth quarter and for the full year, it will be interesting to see if this impressive performance by Finovate alums reflects broader investment trends in the industry.
Previous Annual Comparisons
- 2024: $553 million
- 2023: $1.2 billion
- 2022: $2.7 billion
- 2021: $8.4 billion
A total of 46 Finovate alums reported funding in 2025, totaling more than $3.3 billion. This figure represents the largest fundraising year for Finovate alums since the blow-out year of 2021 in which more than $8 billion was raised.
Previous Quarterly Comparisons
- Q4 2024: More than $132 million raised by seven alums
- Q4 2023: More than $307 million raised by 11 alums
- Q4 2022: More than $380 million raised by 15 alums
- Q4 2021: More than $1.2 billion raised by seven alums
The pattern of billion+plus Q4s arriving every other year continued in 2025. 11 Finovate alums reported raising more than $1.4 billion in the fourth quarter of this year. This includes one company’s investment (Qolo’s fundraising in October) for which the amount is unknown. The last time Finovate alums raised a comparable amount in funding in the fourth quarter was in 2014, when 26 alums raised more than $1.4 billion.
Top Quarterly Equity Investments
The top equity investments of the quarter were the $500 million secured by both Avalara and Ripple. Also among the top fundraisings of the quarter was the $280 million raised in two separate, back-to-back rounds by MoEngage.
Here is our detailed alum funding report for Q4 2025.
October: More than $108 million raised by four alums
- Basis Theory: $33 million – post
- Feedzai: $75 million – post
- Offset Labs (fka Byne): $804,000 – post
- Qolo: undisclosed – post
November: More than $1.1 billion raised by five alums
- Abacus: $5 million – news
- Avalara: $500 million – news
- Kaaj: $3.8 million – news
- MoEngage: $100 million – news
- Ripple: $500 million – post
December: More than $191 million raised by two alums
- Kobalt Labs: $11 million – news
- MoEngage: $180 million – post
If you are a Finovate alum that raised money in the fourth quarter of 2025, and do not see your company listed, please drop us a note at [email protected]. We would love to share the good news! Funding received prior to becoming an alum not included.
Photo by micheile henderson on Unsplash
