Fintech circles were abuzz this week as four massive fundings pushing several companies higher up the billion-dollar valuation ladder (yep, I can avoid the U-word if I really try).
SoFi’s $1 billion received wide coverage this week, but we’d already covered it a month ago, so it’s not included in this week’s total. But even without that massive inflow earmarked for U.S. student loans, the worldwide fintech total surpassed one billion ($1.265 billion to be precise) thanks to Paytm, $675 million; Avant, $325 million; and 22 others. And every known round, not including Blooom’s grant, was seven figures or more.
Finovate alum fundings included: Kreditech, $92 million; Cloud Lending, $8 million; InForcePRO, $4 million; MX, $4 million from CheckFree founder Pete Kight; Blooom, $50,000 grant; and Elevest, an alum-by-proxy given its co-founder’s (Charlie Kroll’s) CV as founder of charter alum Andera, as well as an acquirer of many Best of Show wins by oFLows.
So far this year, we’ve tracked $14.5 billion flowing to fintech companies worldwide including a whopping $6.3 billion this past quarter.
Funding rounds by size from 26 Sep to 1 Oct 2015:
Paytm
mCommerce and bill payment platform
HQ: Noida, India
Latest round: $675 million; $4 billion valuation
Total raised: $875 million
Tags: Mobile, commerce, payments, shopping, billpay, Alibaba (investor)
Source: Crunchbase, VentureBeat
Avant
Consumer alt-lender
HQ: Chicago, Illinois
Latest round: $325 million; $1+ billion valuation
Total raised: $1.73 billion, includes $1.05 billion in debt
Tags: Consumer, credit, loans, lending, underwriting, near-prime
Source: Crunchbase
Kreditech
Consumer alt-lender
HQ: Hamburg, Germany
Latest round: $92 million Series C
Total raised: $355 million; $140 million equity, $215 million debt
Tags: Credit scoring, lending, underwriting, lending, loans, consumer, Finovate alum
Source: Finovate
Elevate
Consumer alt-lender
HQ: Texas City, Texas
Latest round: $70 million debt
Total raised: Unknown
Tags: Consumer, credit, underwriting, installment loans, line of credit
Source: Crunchbase
PushPay
Mobile payments platform
HQ: Auckland, New Zealand
Latest round: $18.7 million
Total raised: $35.5 million
Tags: Payments, consumer, acquiring, merchants, processing, SMB
Source: FT Partners
Ellevest
Investing platform for women
HQ: New York City, New York
Latest round: $10 million
Total raised: $10 million
Tags: Investing, asset management, wealth management, Charlie Kroll (co-founder and Finovate alum)
Source: Finovate
Credible
Alt-student lender
HQ: San Francisco, California
Latest round: $10 million
Total raised: $12.7 million
Tags: Consumer, credit, lending, loans, students, youth, underwriting
Source: Crunchbase
Zameen
Pakiston real estate hub
HQ: Lahore, Pakistan
Latest round: $9 million Series A
Total raised: $9 million
Tags: Mortgage, home buying, properties
Source: Crunchbase
Cloud Lending Solutions
Enterprise lending platform
HQ: San Mateo, California
Latest round: $8 million Series A
Total raised: $10.25 million
Tags: Lending, enterprise, loans, credit, Finovate/FinDEVr alum
Source: Finovate
Qualpay
Payment processor
HQ: San Mateo, California
Latest round: $8 million Series A
Total raised: $8 million
Tags: Payments, merchants, SMB, acquiring, credit/debit cards
Source: FT Partners
QuanTemplate
Reinsurance platform
HQ: Gibraltar
Latest round: $7.6 million
Total raised: $9.8 million
Tags: Insurance, enterprise
Source: Crunchbase
Chillr
Mobile person-to-person payments
HQ: Cochin, India
Latest round: $6 million
Total raised: $6.5 million
Tags: Consumer, mobile payments, P2P
Source: Crunchbase
MMKT Exchange
Middle market loan-syndication platform
HQ: New York City, New York
Latest round: $5.9 million
Total raised: Unknown
Tags: Commercial lending, loans, secondary market, enterprise
Source: FT Partners
Coinplug
Bitcoin services
HQ: South Korea
Latest round: $5 million Series B
Total raised: $8.3 million
Tags: Virtual currency, cryptocurrency, blockchain, bitcoin
Source: Coindesk
InForcePRO
Insurance policy-holder analytics
HQ: Austin, Texas
Latest round: $4 million Series A
Total raised: $6.55 million
Tags: Insurance, enterprise, metrics, big data, analytics, Finovate alum
Source: Finovate
MX (formerly MoneyDesktop)
Digital banking platform
HQ: Utah
Latest round: $4 million
Total raised: $54 million
Tags: Digital banking, mobile banking, B2B2C, consumer, Pete Kight (investor), Finovate/FinDEVr alum,
Meet them 6/7 Oct at FinDEVr San Francisco
Source: Finovate
AboutLife
Retirement planning
HQ: San Francisco, California
Latest round: $3 million Series A
Total raised: $3 million
Tags: Wealth management, investing, financial planning, consumer, PFM
Source: Crunchbase
Orb (formerly Coinpass)
Digital payments platform
HQ: Tokyo, Japan
Latest round: $2.3 million
Total raised: $2.8 million
Tags: Blockchain, payments, bitcoin, cryptocurrency, digital currency
Source: Crunchbase
Safe Cash Payment Technologies
Blockchain-based payments
HQ: San Francisco, California
Latest round: $1.2 million Seed
Total raised: $1.2 million
Tags: Payments, bitcoin, blockchain, consumer, Naveen Jain (investor)
Source: Coindesk
Blooom
401(k) management
HQ: Kansas City, Kansas
Latest round: $50,000 Grant
Total raised: $300,000
Tags: Retirement planning, consumer, 401(k), investing, LaunchKC Accelerator, Finovate alum
Source: Finovate
Adyen
International payments platform
HQ: Amsterdam, Netherlands
Latest round: Undisclosed; $2.3 billion valuation
Total raised: $266+ million
Tags: Payments, SMB, enterprise, remittances, payment processing
Source: Crunchbase
DwellExchange
Crowdfunding home-equity loans
HQ: New York City, New York
Latest round: Undisclosed
Total raised: Unknown
Tags: Lending, P2P loans, mortgage, real estate, consumer
Source: Crunchbase
WorldCover
P2P platform providing insurance for the unbanked
HQ: New York City, New York
Latest round: Undisclosed
Total raised: Unknown
Tags: Underbanked, insurance, investing, peer-to-peer
Source: Crunchbase
Transaction Mobility International
White-label payment processing
HQ: Singapore
Latest round: Undisclosed Series A; $33 million valuation
Total raised: $550,000+
Tags: Payments, mobile, acquiring, merchants, SMB
Source: Crunchbase
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