Best funding quarter for Finovate alums to date.
There’s no other way to put it. With more than $1.5 billion raised by 37 alums, the second quarter of 2018 is twice as large as the previous year’s Q2. Not only that, but this year’s second quarter is also the biggest quarter for equity funding in Finovate history, ranking among our “unicorn” quarters of more than $1 billion raised.
Previous Quarterly Comparisons
- 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
- Q2 2014: More than $458 million raised by eight alums
Previous Billion Dollar Quarters
- Q1 2018: More than $1.32 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
Which alums topped the funding ranks in the second quarter? There were a number of triple digit investments over the past few months, including a pair of quarter billion dollar investments picked up by digital bank Revolut and business commerce innovator Tradeshift. But the biggest alum funding in Q2 2018 was the $360 million raised by low code app development platform OutSystems, which presented its technology at our developers conference, FinDEVr, last year.
Combined, the top ten equity investments for the quarter add up to $1.3 billion, representing 86% of the total alum funding for Q2.
Top Ten Equity Investments for Q2 2018
- OutSystems: $360 million
- Revolut: $250 million
- Tradeshift: $250 million
- LendStreet: $117 million
- Signifyd: $100 million
- BlueVine: $60 million
- WorkFusion: $50 million
- Unison: $40 million
- Tango Card: $35 million
- Qapital: $30 million
Here is our detailed alum funding report for Q2 2018. Interestingly, the amount raised in June 2018 alone – more than $716 million – is greater than all but two previous second quarters.
April 2018: More than $370 million raised by 11 alums
- Agreement Express: undisclosed – post
- BillShark: undisclosed – post
- DriveWealth: $21 million – post
- Lender Price: undisclosed – post
- Meniga: $3.7 million – post
- Micronotes: $3 million – post
- SecuredTouch: $8 million – post
- SpyCloud: $5 million – post
- Qapital: $30 million – post
- Revolut: $250 million – post
- WorkFusion: $50 million – post
May 2018: More than $434 million raised by 11 alums
- Azimo: $20 million – post
- BondIT: $4 million – post
- Lidya: $6.9 million – post
- Quovo: undisclosed – post
- Signifyd: $100 million – post
- Student Loan Genius: $3.5 million – post
- Trusted Key: $3 million – post
- Tango Card: $35 million – post
- Tradeshift: $250 million – post
- WeInvest: $12.3 million – post
- WorkFusion: undisclosed – post
June 2018: More than $716 million raised by 15 alums
- AlphaPoint: $15 million – post
- Bento for Business: $9 million – post
- BlueVine: $60 million – post
- LendStreet: $117 million – post
- Meniga: $3.6 million – post
- Munnypot: undisclosed – post
- NDGIT: $4.7 million – post
- Nextmarkets: $6.9 million – post
- Newchip: $2 million – post
- OutSystems: $360 million – post
- P2Binvestor: $3.6 million – post
- SigFig: $50 million – post
- SmartAsset: $28 million – post
- Unison: $40 million – post
- Veridium: $16.5 million – post
f you are a Finovate alum that raised money in the second quarter of 2018, 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.