Our “Best Q2 to Date” just got bested.
Finovate alums raised more than $1.8 billion in new funding in the second quarter of 2019. The Q2 figure from this year surpasses the previous, record-setting second quarter from 2018 by more than $300 million. This year’s amount also represents an increase of more than 3x over our alum funding total of $468 million for Q1.
Previous Quarterly Comparisons
- Q2 2018: More than $1.5 billion raised by 37 alums
- Q2 2017: More than $726 million raised by 25 alums
- Q2 2016: More than 510 million raised by 23 alums
- Q2 2015: More than $840 million raised by eight alums
The second quarter of 2019 also marks our fifth billion dollar quarter since 2015.
Previous Billion Dollar Quarters
- Q2 2018: More than $1.5 billion raised by 37 alums
- Q1 2018: More than $1.3 billion raised by 26 alums
- Q3 2017: More than $1 billion raised by 31 alums
- Q3 2015: More than $1 billion raised by 40 alums
Our biggest fundraising alum for the quarter was financial management platform Sofi – by a mile. But Sofi aside there were still more than a handful of sizable investments in Finovate alums this spring, including four other nine-figure financings in Marqeta, Blend, Dashlane, and multiple-time Best of Show winner MX.
The top ten equity investments for our alums in Q2 totaled $1.35 billion, representing 75% of the quarter’s total funding.
Top Ten Equity Investments for Q2 2019
- Sofi: $500 million
- Marqeta: $260 million
- Blend: $130 million
- Dashlane: $110 million
- MX: $100 million
- Bill.com: $88 million
- Alkami: $55 million
- Clinc: $52 million
- Synapse: $33 million
- Payfone: $24 million
Here is our detailed alum funding report for Q2 2019.
April 2019: More than $205 million raised by seven alums
- Bill.com: $88 million – post
- Extend: $11 million – post
- Fintonic: $21.4 million – post
- Kantox: $5.7 million – post
- Onfido: $50 million – post
- Payfone: $24 million – post
- Sezzle: $5.6 million – post
May 2019: More than $1.25 billion raised by 11 alums
- ClickSWITCH: $13 million – post
- Clinc: $52 million – post
- Dashlane: $110 million – post
- Fintech OS: $1.2 million – post
- Marqeta: $260 million – post
- masterQueue: amount undisclosed – post
- Minna Technologies: $6.3 million – post
- Sofi: $500 million – post
- The ID Co.: $2 million – post
- TransferWise: $292 million – post
- Twisto: $15.7 million – post
June 2019: More than $375 million raised by 10 alums
- Alkami: $55 million – post
- BanQu: amount undisclosed – post
- Blend: $130 million – post
- MX: $100 million – post
- Ocrolus: $24 million – post
- Paysend: $5.3 million – post
- Synapse: $33 million – post
- ThetaRay: amount undisclosed – post
- Tink: $11.2 million – post
- Token: $16.5 million – post
If you are a Finovate alum that raised money in the second quarter of 2019, 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.
