Once again alt-lending dominated the dollar volumes flowing into fintech accounting for close to a half-billion this week. The majority ($400 million) went to Chicago-based Avant. We should note that with all the money flowing to alternative lending, it’s getting a bit harder to classify the funding between a lending pledge, straight debt, traditional equity or a hybrid.
On the equity front, a good variety of firms were funded from billpay, ranging from remittances and insurance to direct banking.
Five Finovate alums took in a total of $35 million:
- $10.7 million to CurrencyFair
- $10 million to Yoyo
- $9.5 million to Interactions
- $3.2 million to MoneyStream
- $1.2 million to StockTwits
In total, 18 private fintech companies raised $695 million, at least $450 million was debt and $245 million was equity. Here are the deals from April 11 to 17 by size:
Avant
Direct online lender
HQ: Chicago, Illinois
Latest round: $400 million Debt
Total raised: $1.4 billion ($350 million equity; $1.05 billion debt)
Tags: management, investing
Source: Crunchbase
PrimeRevenue
Supply-chain financing marketplace
HQ: Atlanta, Georgia
Latest round: $80 million Private Equity
Total raised: $91.6 million
Tags: Lending, SMB, factoring, investing
Source: Crunchbase
Applied Data Finance
Lending to underbanked via Personify Financial Services
HQ: New York City
Latest round: $50 million Debt + undisclosed equity
Total raised: Unknown
Tags: Data analytics, underbanked, lending, underwriting, consumer credit
Source: Crunchbase
PolicyBazaar
Indian insurance-comparison portal
HQ: Gurgaon, India
Latest round: $40 million Series D
Total raised: $69.6 million
Tags: Insurance
Source: Crunchbase
Billtrust
B2B invoicing and payments
HQ: Hamilton, New Jersey
Latest round: $25 million Series C
Total raised: $54 million
Tags: SMB, invoicing, billpay, bill payment, accounts receivable, accounts payable
Source: FT Partners
Acorns
Saving and investing app
HQ: Newport Beach, California
Latest round: $23 million Series C
Total raised: $32 million
Tags: management, investing
Source: FT Partners
InGo Money (formerly Chexar Networks)
Mobile money movement and card reloads
HQ: Roswell, Georgia
Latest round: $13.5 million
Total raised: $21.9 million
Tags: management, investing
Source: FT Partners
CurrencyFair
Remittances and foreign exchange
HQ: Dublin, Ireland
Latest round: $10.7 million Series A
Total raised: $15.4 million
Tags: Fx management, funds transfer, international money exchange, Finovate alum
Source: Finovate
Number26
German direct bank startup
HQ: Berlin, Germany
Latest round: $10.7 million Series A
Total raised: $12.7 million
Tags: Banking, mobile, neo-bank, direct bank, branchless
Source: Crunchbase
Yoyo
Mobile wallet
HQ: London, United Kingdom
Latest round: $10 million Series A
Total raised: $15 million
Tags: Mobile, payments, credit cards, debit cards, Finovate alum
Source: Crunchbase
Money360
Commercial real estate loan marketplace
HQ: Ladera Ranch, California
Latest round: $10 million
Total raised: $13 million ($11 million equity; $2 million debt)
Tags: Lending, credit, real estate, commercial mortgage, investing, P2P, crowdfunding
Source: P2P-Banking.com
Interactions
Customer service technology
HQ: Franklin, Massachusetts
Latest round: $9.5 million
Total raised: $110+ million
Tags: Service, call center, mobile, speech recognition, biometrics, security, Finovate alum
Source: Crunchbase
TouchBistro
Mobile POS system for restaurants
HQ: New York City, New York
Latest round: $6 million Series A
Total raised: $12 million
Tags: Mobile, point-of-sale, credit/debit card, acquiring, merchants, SMB
Source: FT Partners
MoneyStream
Money and bill management
HQ: Los Gatos, California
Latest round: $3.2 million Series A
Total raised: $3.2 million
Tags: Billpay, PFM, payments, money management, H&R Block (investor), Finovate alum
Source: Finovate
Ascend Consumer Financial
Loan comparison and rewards
HQ: San Francisco, California
Latest round: $1.5 million Seed
Total raised: $1.5 million
Tags: Lending, rewards, underwriting, credit, loans, lead generation, consumer
Source: Crunchbase
StockTwits
Investment sentiment analysis
HQ: New York City, New York
Latest round: $1.2 million
Total raised: $9.8 million
Tags: Investing, analytics, mobile, Twitter, Finovate alum, FinDEVr alum
Source: FT Partners
CommonLedger
Accounting data-aggregation tool
HQ: Wellington, New Zealand
Latest round: $1 million Seed
Total raised: $1 million
Tags: Accounting, metrics, data analysis
Source: Crunchbase
FriendlyScore
Alternative credit score
HQ: London, United Kingdom
Latest round: $375,000 Seed
Total raised: $395,000
Tags: Lending, underwriting, credit scoring, data analytics
Source: Crunchbase