Quarterly Funding

Six Alums Raised More Than $16 Million in Q3 2024

Six Alums Raised More Than $16 Million in Q3 2024
By David Penn Posted on
Categories: 3forge, Alumni News, Dotfile, Funding, Illuma Labs, NYMBUS, Quarterly Funding, ReceiptHero, Scamnetic

According to market intelligence platform Tracxn, funding for U.S.-based tech companies in Q3 of this year fell, both in comparison to the previous quarter as well as when compared to Q3 2023. Tracxn also reported that the number of tech unicorns actually increased this year compared to last year, with 13 new unicorns acknowledged in Q3 2024 compared to just five in Q3 2023. And while the report took this as a positive sign that “investor sentiment is stable,” there are other indications that the much-anticipated return to more robust funding trends for tech companies in general, and fintechs in particular, has yet to arrive.

Laura Bock, partner at QED Investors, was quoted in The Financial Brand back in January saying that “53% of fintechs will be cash out by Q3 2024 if they do not raise or exit.” We have a few more days before some of the research firms begin producing their Q3 reports on fintech funding, but clearly expectations are low.

Looking at our own Finovate alum funding for Q3 2024, we see plenty of evidence of the funding drought. In terms of the number of alums that reported receiving funding, as well as the amounts invested, Q3 alum funding for this year is as low as it has been in quite some time.

Previous quarterly comparisons

  • Q3 2023: More than $293 million raised by eight alums
  • Q3 2022: More than $1 billion raised by eight alums
  • Q3 2021: More than $1.1 billion raised by 14 alums
  • Q3 2020: More than $1.2 billion raised by 21 alums

Top equity investments

The top equity investment for Finovate alums in Q3 2024 was the $9 million raised by Illuma Labs. Headquartered in Plano, Texas, and founded in 2016, Illuma Labs debuted at FinovateSpring 2019 and has been a staple of our Spring and Fall conferences ever since. The company won Best of Show at FinovateFall in September for a demo of its Illuma Shield real-time voice authentication solution, now equipped with the latest deepfake detection technology to help prevent account takeover fraud.

Also noteworthy were the fundraisings from two brand-new alums: Dotfile, a regtech based in Paris, France, which debuted at FinovateEurope in February; and Scamnetic, an AI-powered anti-fraud solution provider that first appeared on the Finovate stage at FinovateFall in New York last month.

Here is our detailed alumni funding report for Q3 2024.

July 2024: An undisclosed amount raised by one alum

August: More than $1.3 million raised by two alums

September: More than $15 million raised by three alums

If you are a Finovate alum that raised money in the third 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.

Photo by Kindel Media

Share this:

Send Post Twitter LinkedIn Facebook

Eight Alums Raised More Than $292 Million in Q2 2024

Eight Alums Raised More Than $292 Million in Q2 2024
By David Penn Posted on
Categories: Funding, Quarterly Funding

“A little better all the time?” Can we use that classic refrain from Lennon & McCarthy to describe the performance of fintech companies seeking funding in the second quarter of 2024?

Most broad-based surveys of fintech funding for Q2 2024 have yet to be published. But, for our Finovate alums, “a little better” aptly describes the difference between Q2 of this year and Q2 of last. Our Finovate alums raised more than $292 million in the second quarter of this year, an increase of nearly 40% over last year’s Q2 mark. The accomplishment was completed by fewer alums this year compared to last, as well.

Previous quarterly comparisons

  • Q2 2023: More than $209 million raised by 10 alums
  • Q2 2022: More than $984 million raised by eight alums
  • Q2 2021: More than $2.8 billion raised by 14 alums
  • Q2 2020: More than $975 million raised by 15 alums

That said, the relatively low funding levels of the past two years are indicative of the broader slowdown in funding that fintechs have been experiencing of late. Again, we are looking forward to seeing some more reports from the field on fintech funding for the past few months, writ large. But, for now, the post-COVID retrenchment in fintech funding continues.

Top Equity Investments

  • Blend: $150 million
  • FintechOS: $60 million
  • SpyCloud: $35 million
  • Hawk: $30 million

The biggest alum fundraising of the quarter was the $150 million reeled in by Blend. A digital lending platform based in San Francisco, California, Blend made its Finovate debut at FinovateSpring 2016 and also participated in our developers conference, FinDEVr SiliconValley 2016. With total capital of $815 million, according to Crunchbase, Blend began this year with news that the publicly-traded company would join the Russell 2000 index.

Also noteworthy among fundraising alums in Q2 of 2024 was the $60 million secured by FintechOS. Headquartered in London, U.K., FintechOS offers a low-code platform that enables banks, insurers, and other financial services companies deliver a range of digital financial experiences for their customers. The company made its Finovate debut in 2021, demoing Sunglow, its Super App for Banking.

FintechOS has raised more than $151 million in funding. In February, the company reported year-over-year revenue growth of 40% for 2023.

Here is our detailed alum funding report for Q2 2024.

April: More than $43 million raised by two alums

May: More than $150 million raised by two alums

June: More than $99 million raised by four alums

If you are a Finovate alum that raised money in the second 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.

Photo by Pixabay

Share this:

Send Post Twitter LinkedIn Facebook

More Than $113 Million Raised by Nine Alums in Q1 2024

More Than $113 Million Raised by Nine Alums in Q1 2024
By David Penn Posted on
Categories: Allied Payment Network, Altro, Amplify Life Insurance, Argyle, David's column, Debbie, Digital Onboarding, Funding, Fundings, NayaOne, Quarterly Funding, Stratyfy, Trust & Will

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

February: More than $21 million raised by three alums

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.

Photo by Matthias Groeneveld

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alums Raised More Than $307 Million in Q4; $1.2 Billion in 2023

Finovate Alums Raised More Than $307 Million in Q4; $1.2 Billion in 2023
By David Penn Posted on
Categories: Alumni News, Daily news, Funding, Fundings, Quarterly Funding

Finovate alums raised more than $1.2 billion in equity funding in 2023. The total funding for the year reflects the continued slowdown in fintech funding that began in 2022.

Previous Annual Comparisons

In the fourth quarter of 2023, eleven Finovate alums raised more than $307 million in equity funding. Note, however, that this sum does not include the equity portion of the investment secured by SumUp, for example. The quarterly total also does not include the investment received by Icon Solutions, the amount of which was undisclosed.

Previous Quarterly Comparisons

  • Q4 2022: More than $380 million raised by 15 alums
  • Q4 2021: More than $1.2 billion raised by seven alums
  • Q4 2020: More than $472 million raised by 17 alums
  • Q4 2019: More than $876 million raised by 21 alums
  • Q4 2018: More than $800 million raised by 19 alums

Nevertheless, the fourth quarter alumni fundraising total approximates that of both last year’s Q4 and the final quarter of 2020.

Top Quarterly Equity Investments

  • Adlumin: $70 million
  • Paysend: $65 million
  • Scalable Capital: $64.7 million

Three investments in the fourth quarter of 2023 stood out among the others: Adlumin, Paysend, and Scalable Capital all announced fundraisings of more than $60 million in Q4. Also noteworthy was the $40 million raised by Stash in October.

Combined, the top three quarterly equity investments from our alums represent more than 65% of the total alum funding haul for Q4 2023.

Here is our detailed alum funding report for Q4 2023.

October 2023: $68 million raised by three alums

November 2023: $145 million raised by three alums

December 2023: More than $94 million raised by five alums

If you are a Finovate alum that raised money in the fourth quarter of 2023, 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.

Photo by Dom J

Share this:

Send Post Twitter LinkedIn Facebook

Eight Alums Raised More Than $293 Million in Q3 2023

Eight Alums Raised More Than $293 Million in Q3 2023
By David Penn Posted on
Categories: David's column, Funding, Fundings, Quarterly Funding

A few months ago we opined here on the Finovate blog that the funding woes that had plagued fintech in the first half of 2023 might abate in the second half.

If Q3 is any indication, then it will have to be the fourth quarter of the year when that happens.

Eight Finovate alums raised more than $293 million in Q3 of 2023. The number of alums raising funding was consistent with last year’s total. But the overall level of funding for Finovate alums was down from previous third quarters. In fact, the last time Q3 alum funding was less than $1 billion was in 2018, when 19 alums raised $400 million.

Admittedly, two of the eight alums to report funding in the third quarter of 2023 did not disclose funding amounts. This means that the total investment for Finovate alums in Q3 could be significantly higher than what is known today. And it was interesting to note how many fintechs that did secure investment over the summer months were headquartered in developing markets. But that aside, for markets in the U.S., the U.K., and Europe, in particular, the fintech funding drought continues to define the terrain.

Previous Quarterly Comparisons

  • Q3 2022: More than $1 billion raised by eight alums
  • Q3 2021: More than $1.1 billion raised by 14 alums
  • Q3 2020: More than $1.2 billion raised by 14 alums
  • Q3 2019: More than $1 billion raised by 21 alums

Top Equity Investments for Q3 2023

The top equity investment of the quarter among Finovate alums was clearly the $110 million raised by SpyCloud. The company, which won Best of Show in its Finovate debut at FinovateFall in 2017, specializes in helping businesses fight account takeover fraud, as well as other types of cybercrime.

Headquartered in Austin, Texas, and founded in 2016, SpyCloud gives organizations visibility into exposed credentials actively traded on the dark web. In response, SpyCloud’s platform not only uncovers these stolen credentials, but also leads to the capture of 40 million exposed assets every week. The company’s Q3 investment takes its total equity funding to more than $168 million.

Also noteworthy in the third quarter were the investments secured by Tradeshift ($70 million), ThetaRay ($57 million), and Splitit ($50 million).

Here is our detailed alum funding report for Q3 2023.

July 2023: More than $4.5 million raised by three alums

August 2023: More than $232 million raised by four alums

September 2023: $57 million raised by one alum

If you are a Finovate alum that raised money in the third quarter of 2023 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.

Photo by Karolina Grabowska

Share this:

Send Post Twitter LinkedIn Facebook

Ten Alums Raised More Than $209 Million in Q2 2023

Ten Alums Raised More Than $209 Million in Q2 2023
By David Penn Posted on
Categories: Alumni News, David's column, Funding, Fundings, Quarterly Funding

Do any of these headlines sound familiar?

“Global fintech funding nearly halves to $23B in H1 2023”

“North American Startup Funding Fell Across All Stages in Q2”

“Most Active Investors Pare Dealmaking in First Half of 2023”

These are some of the recent headlines from sources such as Crunchbase News and S&P Global Market Intelligence. While there was some real enthusiasm around Generative AI as the summer began, the reality is that technology investors remain cautious in the face of inflationary fears, higher interest rates, and a number of high-profile blowups in some of the more speculative areas of technology. This challenge has been especially acute in fintech. Not only have concerns over COVID-era overinvestment and “malinvestment” been loud in this space, but also fintech has more direct exposure to some of the economic discontents mentioned above.

The retrenchment in fintech funding was in evidence during Q2 2023 for our Finovate alums, as well. Over the quarter, ten alums raised more than $209 million. This makes Q2 2023 one of the lowest quarters in terms of equity capital raised by our alums in many years. Note that two of the nine alums that reported receiving investment dollars in April, May, and June – Agent IQ and EverC – did not disclose the amounts of their fundings. Nevertheless, this quarter’s total is a clear reflection of the relative tepid investment climate across technology writ large.

Previous quarterly comparisons

  • Q2 2022: More than $984 million raised by eight alums
  • Q2 2021: More than $2.8 billion raised by 14 alums
  • Q2 2020: More than $975 million raised by 15 alums
  • Q2 2019: More than $1.8 billion raised by 29 alums
  • Q2 2018: More than $1.5 billion raised by 26 alums

The biggest fundraising alum of the quarter was NYMBUS. The company enables financial institutions to digitally transform their operations through a variety of solutions including SmartCore, SmartPayments, and its standalone digital bank alternative, SmartLaunch. Founded in 2015 and headquartered in Jacksonville, Florida, NYBUS made its most recent Finovate appearance at FinovateFall 2019.

Top Equity Investments

  • NYMBUS: $70 million
  • PayNearMe: $45 million
  • BioCatch: $40 million

Other big alumni fundraisers in Q2 2023 were PayNearMe and BioCatch, which raised $45 million and $40 million, respectively. PayNearMe is a three-time Finovate Best of Show winner, making its Finovate debut back in 2010. The Santa Clara, California based fintech offers a cash payments platform that facilitates online purchases and billpay.

Headquartered in Tel Aviv, Israel, BioCatch demoed its technology at FinovateFall in 2014. Since then, the behavioral biometrics innovator has grown into a major player in the advanced fraud protection industry. The firm continuously protects more than five billion sessions per month and serves more than 250 million users around the world. In 2022, BioCatch prevented more than $2 billion in fraud losses.

Here is our detailed alum funding report for Q2 2023.

April: More than $35 million raised by three alums

  • EverC: undisclosed – post
  • Stratyfy: $10 million – post
  • Tyfone: $25 million – post

May: More than $127 million raised by five alums

  • Agent IQ: undisclosed – post
  • BioCatch: $40 million – post
  • Cable: $11 million – post
  • Kognitos: $6.75 million – post
  • NYMBUS: $70 million – post

June: More than $47 million raised by two alums

  • PayNearMe: $45 million – post
  • StockRepublic: $2.81 million – post

If you are a Finovate alum that raised money in the second quarter of 2023 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.

Photo by Reynaldo #brigworkz Brigantty

Share this:

Send Post Twitter LinkedIn Facebook

More Than $453 Million Raised by Thirteen Alums in Q1 2023

More Than $453 Million Raised by Thirteen Alums in Q1 2023
By David Penn Posted on
Categories: Alumni News, Funding, Fundings, Quarterly Funding

Thirteen Finovate alums raised more than $453 million in funding in the first quarter of 2023. Q1 of this year topped last year’s first quarter total but fell short of the massive amount of capital raised by a sizable number of Finovate alums in the first quarter of 2021.

Previous quarterly comparisons

  • 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
  • Q1 2019: $468 million raised by 20 alums

The biggest fundraising of the first three months of the year was the $250 million raised by long-time Finovate alum eToro. Also noteworthy was the $92 million secured by Zopa in February.

Top Equity Investments from Q1 2023

  • eToro: $250 million
  • Zopa: $92 million
  • SESAMm: $37 million
  • LeapXpert: $22 million
  • Hawk AI: $17 million
  • Stratyfy: $10 million
  • DirectID: $9.5 million
  • NYMBUS: $9 million
  • Connect Earth: $5.6 million
  • QuantConnect: $1.5 million

Our top equity investments for Q1 2023 reveal a major range in funding from eToro’s $250 million to the $1.5 million raised by QuantConnect. Given the number of alums receiving funding in the first quarter, it is no surprise that the top 10 equity investments in Q1 make up the vast majority of all alum funding for the quarter. Also worth noting was the fact that eToro’s $250 million represents more than 50% of the top 10 equity investment total.

Here is our detailed alum funding report for Q1 2023.

January: More than $18 million raised by three alums

February: More than $101 million raised by two alums

March: More than $333 million raised by eight alums

If you are a Finovate alum that raised money in the first quarter of 2023 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.

Photo by olia danilevich

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alums Raised More Than $380 Million in Q4; $2.7 Billion in 2022

Finovate Alums Raised More Than $380 Million in Q4; $2.7 Billion in 2022
By David Penn Posted on
Categories: Alumni News, Funding, Fundings, Quarterly Funding

Finovate alums raised more than $2.7 billion in equity funding in 2022. The sum makes the $8.4 billion raised in 2021 seem all the more an outlier as our alumni funding levels return to those common in 2020 and before.

Previous Annual Comparisons

The fourth quarter of 2022 saw Finovate alums secure more than $380 million in funding. This amount recalls the relatively modest fundraising haul from Q4 2020, with a comparable number of alums raising capital.

Previous Quarterly Comparisons

  • Q4 2021: More than $1.2 billion raised by seven alums
  • Q4 2020: More than $472 million raised by 17 alums
  • Q4 2019: More than $876 million raised by 21 alums
  • Q4 2018: More than $800 million raised by 19 alums
  • Q4 2017: More than $730 million raised by 23 alums

Outsystems’ $228.4 million fundraising was easily the quarter’s standout investment. Also raising sizable amounts in the final three months of 2022 were Moneyhub, which raised more than $61 million over the course of the quarter, and Banyan, which secured $28 million in funding.

Top Quarterly Equity Investments

  • Outsystems: $228.4 million
  • Moneyhub: $61.6 million
  • Banyan: $28 million
  • Cinchy: $14.5 million
  • Buckzy: $14.5 million

Here is our detailed alum funding report for Q4 2022.

October 2022: More than $316 million raised by eight alums

November 2022: $13 million raised by two alums

December 2022: More than $52 million raised by five alums

If you are a Finovate alum that raised money in the fourth quarter of 2022, 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.

Photo by Pixabay

Share this:

Send Post Twitter LinkedIn Facebook

Eight Alums Raise More Than $1 Billion in Q3 of 2022

Eight Alums Raise More Than $1 Billion in Q3 of 2022
By David Penn Posted on
Categories: Funding, Fundings, Quarterly Funding

2022 marks the fourth year in a row in which Finovate alums have raised $1 billion or more in equity funding in the third quarter. The number of alums reporting investments in Q3 this year was lower than in previous years, and much of the quarter’s lofty fundraising total comes from a single, sizable investment of $800 million in Klarna.

Also continuing a trend we’ve seen for the past few years is the relatively strong performance of August compared to other months in the third quarter. While more capital was invested our alums in July (again, credit to Klarna), August featured more alums receiving funding than any other month in Q3 this year.

Previous Quarterly Comparisons

  • Q3 2021: More than $1.1 billion raised by 14 alums
  • Q3 2020: More than $1.2 billion raised by 14 alums
  • Q3 2019: More than $1 billion raised by 21 alums
  • Q3 2018: More than $400 million raised by 19 alums
  • Q3 2017: More than $1 billion raised by 31 alums

Top Equity Investments for Q3 2022

The top equity investment of the quarter for Finovate alums this year was Klarna’s $800 million fundraising in July. In fact, at nearly 80% of the quarter’s total alum funding haul, Klarna’s investment was significantly larger than combined amount of the other six known alum investments in Q3.

While impressive in this context, the capital infusion did come with a reduction in Klarna’s valuation. According to Reuters, the Swedish e-commerce and payments innovator was valued at $6.7 billion in its July transaction, an 85% drop from its 2021 valuation of $46 billion.

Here is our detailed alum funding report for Q3 2022.

July 2022: $839 million raised by three alums

August 2022: More than $118 million raised by four alums

September 2022: $52 million raised by one alum

If you are a Finovate alum that raised money in the third quarter of 2022 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.

Photo by Pixabay

Share this:

Send Post Twitter LinkedIn Facebook

Eight Alums Raised More Than $984 Million in Q2 2022

Eight Alums Raised More Than $984 Million in Q2 2022
By David Penn Posted on
Categories: Allied Payment Network, Altro, Autobooks, Backbase, Chekk, Crowdz, David's column, Funding, Fundings, Quarterly Funding, SumUp, Thought Machine

We may have missed an alum or two. But with the second quarter of 2022 in the books, here’s a look at our Finovate alumni funding for April, May, and June of this year.

As of our current count, eight Finovate alums have raised more than $984 million in Q2 of 2022. Of the eight alums that received funding in the quarter just ended, two – Allied Payment Network and Chekk – did not disclose the total amount of their investments.

Two of the quarter’s biggest investments were received in June, giving that month the lion’s share of capital raised by Finovate alums in the second quarter of the year.

Previous quarterly comparisons

  • Q2 2021: More than $2.8 billion raised by 14 alums
  • Q2 2020: More than $975 million raised by 15 alums
  • Q2 2019: More than $1.8 billion raised by 29 alums
  • Q2 2018: More than $1.5 billion raised by 25 alums
  • Q2 2017: More than $726 million raised by 25 alums

As we noted last year around this time, it is not unusual for second quarters to produce more moderate funding numbers compared to other quarters. And, as with last year, April proved to be an especially “cruel” month for fintech funding – at least as measured by our alums – with only FinovateEurope alum and relative newcomer Crowdz reporting funding that month.

That said, this year’s Q2 haul surpassed that of two of the previous five second quarters – and with significantly fewer alums participating.

Top Equity Investments

  • SumUp: $624 million
  • ThoughtMachine: $160 million
  • Backbase: $122 million

The top equity investment for the quarter was far and away the $624 million raised by London-based e-commerce innovator SumUp. In fact, all three of the top equity investments in Q2 of 2022 were greater than the largest investment in the previous quarter. SumUp’s massive capital infusion rivals all Finovate alum investments since NuBank raised $750 million in the second quarter of 2021.

Backbase’s fundraising of $122 million was notable because it was the first time the company had sought outside capital in its nearly 20 years of existence.

Here is our detailed alum funding report for Q2 2022.

April: $10 million raised by one alum

May: More than $178 million raised by three alums

June: More than $796 million raised by four alums

If you are a Finovate alum that raised money in the second quarter of 2022 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.

Photo by Pixabay

Share this:

Send Post Twitter LinkedIn Facebook

More Than $365 Million Raised by 11 Alums in Q1 of 2022

More Than $365 Million Raised by 11 Alums in Q1 of 2022
By David Penn Posted on
Categories: Alumni News, Funding, Fundings, Quarterly Funding

Quarterly funding for Finovate alums topped $365 million in the first three months of 2022. The amount is lower than last year’s Q1 tally, and is more reminiscent of the sums raised by Finovate alums in the first quarters of 2019, 2017, and 2016. The number of alums receiving funding in Q1 of 2022 was also lower than in recent years.

That said, overall fintech investment is as strong as ever. According to research from CB Insights, while overall fintech investment in Q1 of 2022 was lower than in three out of four quarters in 2021, the sum – more than $28 billion – tops Q1 2021 and stands as the largest first quarter for fintech investment on record.

Previous quarterly comparisons

  • Q1 2021: $3.3 billion raised by 26 alums
  • Q1 2020: $1.3 billion raised by 14 alums
  • Q1 2019: $468 million raised by 20 alums
  • Q1 2018: $1.3 billion raised by 26 alums
  • Q1 2017: $230 million raised by 20 alums
  • Q1 2016: $656 million raised by 32 alums

Top Equity Investments

  • Personetics: $85 million
  • iProov: $70 million
  • Glia: $45 million
  • Atomic: $40 million
  • OCR Labs: $30 million
  • Zeta: $30 million
  • Vymo: $22 million
  • TickSmith: $20 million
  • doxo: $18.5 million
  • Plinqit: $5 million

The biggest fundraising of the quarter was the $85 million secured by Personetics in January. Close behind was the $70 million that iProov raised – also in the first month of the year. Given that there were only 11 alums reporting funding in Q1 of 2022, it is understandable that the top ten equity investments for the quarter represent virtually all of the known funds raised by Finovate alums in the first three months of the year.

Here is our detailed alum funding report for Q1 2022.

January: $155 million raised by two alums

February: $55 million raised by three alums

March: More than $155 million raised by six alums

If you are a Finovate alum that raised money in the first quarter of 2022 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.

Photo by Pixabay

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alums Raised $1.2 Billion in Q4; $8.4 Billion for the Year

Finovate Alums Raised $1.2 Billion in Q4; $8.4 Billion for the Year
By David Penn Posted on
Categories: Alumni News, Funding, Fundings, Quarterly Funding

Finovate alums notched their biggest fourth quarter fundraising since 2014, securing $1.2 billion in equity investment. The strong Q4 gives Finovate alums a 2021 fundraising total of $8.4 billion, more than double the capital raised in any previous year.

Previous Annual Comparisons

2021’s fundraising strength comes courtesy of $3.3 billion raised in Q1, $2.8 billion raised in Q2, and $1.1 billion raised in Q3. Fundraising in this year’s fourth quarter is also significantly higher than that raised in previous Q4s, and by a significant margin. The fact that Q4’s sizable fundraising totals came as a result of investments in only six alumni makes the current quarter’s accomplishment all the more remarkable.

Previous Quarterly Comparisons

  • Q4 2020: More than $472 million raised by 17 alums
  • Q4 2019: More than $876 million raised by 21 alums
  • Q4 2018: More than $800 million raised by 19 alums
  • Q4 2017: More than $730 million raised by 23 alums
  • Q4 2016: More than $700 million raised by 26 alums

Four of this quarter’s fundings were at or above the $200 million mark. This marks a first for Finovate alums. The biggest investment received in Q4 of 2021 was the $450 million secured by Socure, a fundraising total that has never been met by a Finovate alum in the final quarter of the year.

Top Quarterly Equity Investments

  • Socure: $450 million
  • Zopa: $304 million
  • Mambu: $266 million
  • Thought Machine: $200 million

Here is our detailed alum funding report for Q4 2021.

October 2021: More than $329 million raised by two alums

November 2021: More than $650 million raised by two alums

December 2021: More than $266 million raised by two alums

If you are a Finovate alum that raised money in the fourth quarter of 2021, 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.

Photo by Karolina Grabowska from Pexels

Share this:

Send Post Twitter LinkedIn Facebook