Want some context on the torrid pace of fintech financing in the first three months of 2014?
Consider this: a year ago, fourteen Finovate alums raised a total of more than $150 million in the first quarter of 2013.
A year later, we have just nine alums raising more than twice as much in the month of March alone.
March Madness, indeed.
Q1 of 2014 saw 23 Finovate alums walk away with just under $600 million in capital. The biggest haul of the quarter came courtesy of Klarna
, which raised more than $125 million.
But there were plenty of similarly impressive fundraisings, including the $85 million raised by Credit Karma
, and the $77 million and $75 million secured by OnDeck
Total raised = More than $592 million
January — $91 million raised by seven companies
February — $139 million raised by seven companies
March — $362 million raised by nine companies
Further enforcing the trend of small business tools in fintech, online invoicing company Tradeshift announced a $75 million round of funding.
The new installment comes from Singapore-based Scentan Ventures, which Tradeshift now claims as a partner.
The San Francisco-based company has global offices in Copenhagen, London, and Suzhou and plans to use the funds to expand to Asia and open an office in Tokyo. This is a large step in its stated mission of “connecting every business on the planet.”
Tradeshift, which counts 500,000 businesses connected on its platform, differentiates itself with a dynamic discounting service that gives buyers a discount for paying their suppliers early.
Tradeshift demoed at FinovateEurope 2012. Watch its demo video here.
Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
- 62 companies raised $825 million
- Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million).
- October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
- May was second highest with $91 million raised by 7 companies
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised
$460 million. The chart below shows the quarter-by-quarter comparison for both years.
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More than $155 million raised by 14 companies
January — $57 million raised by 6 companies
February — $56 million raised by 5 companies
March — $42 million raised by 4 companies
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More than $205 million raised by 15 companies
June — $81.7 million raised by 6 companies
May — $91.5 million raised by 7 companies
April — $32 million raised by 2 companies
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More than $171 million raised by 22 companies
July — More than $63 million raised by 8 companies
August — More than $26 million raised by 6 companies
September — $82 million raised by 9 companies
More than $294 million raised by 17 companies
October— $177 raised by 6 companies
November — More than $87 million raised by 7 companies
December — More than $30 million raised by 6 companies
Electronic invoicing solutions company, Tradeshift, announced it recently brought in $15 million in equity funding.
This round is the first installment of a $57 million round. According to the San Francisco-based company this equity sale is, “part of something much bigger,” though it did not provide further detail.
Tradeshift demonstrated at FinovateEurope 2013 in London where it debuted its Instant Payments feature.