FINTECH VENTURE DEALS2021

FINTECH FUNDING NEWS

The latest funding deals and a few trends we're tracking. Ideas on what else would be helpful?

MAY 10TH REPORT

VENTURE FUNDING IN 2021

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Q1 FinTech Deals

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Q1 Capital Raised (M)

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Q2 FinTech Deals

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Q2 Capital Raised (M)

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2021 FinTech Deals [YTD]

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2021 Capital Raised (M) [YTD]

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2020 FinTech Deals

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2020 Capital Raised (M)

NORTH AMERICA ONLY

US FINTECH ECOSYSTEM IN 2021

LEADING SECTORS BY STATE

CALIFORNIA

  • Payments/Billing (15.33%)
  • Lending (10.53%)
  • InsurTech (9.84%)

NEW YORK

  • Wealth Management (15.85%)
  • Capital Markets (12.45%)
  • Blockchain/Crypto (12.08%)

MASSACHUSETTS

  • InsurTech (30.19%)
  • Payments/Billing (15.09%)
  • Digital Banking (7.55%)

HOW TRENDS ARE EVOLVING [2021 vs 2020]

20202021Variation
Lending7.53% (66)11.69% (45)4.16% ▲
Blockchain/Crypto7.18% (63)11.17% (43)3.99% ▲
InsurTech12.31% (108)14.18% (57)2.49% ▲
Capital Markets9.46% (83)7.27% (28)-2.19% ▼
Mortgage/Real Estate7.53% (66)4.94% (19)-2.59% ▼
Core Technology7.07% (62)4.16% (16)-2.91% ▼

RECENT DEALS

Period: 04/14/2021 - 05/09/2021

NameFunding TypeMoney RaisedVerticalLead InvestorHeadquartersAnnouncedHiring?
Sources: Crunchbase, Empire Startups. Data is current as of May 10, 2021
CryptoSlamAngel--Blockchain/CryptoAloomiiOverland Park, Kansas, United StatesApril 15, 2021
DoorsteadSeries A$12,500,000Mortgage/Real estateMadrona Venture GroupSan Francisco, California, United StatesApril 15, 2021
PlentinaSeed$2,200,000LendingAndrew VigneaultBelmont, California, United StatesApril 15, 2021
RoutableSeries B$29,964,761Payments/BillingJack AltmanSeattle, Washington, United StatesApril 15, 2021Job Openings
SignifydSeries E$205,000,000Cyber/FraudOwl Rock Capital PartnersSan Jose, California, United StatesApril 15, 2021
LevelSeries A$27,000,000LendingKhosla VenturesNew York, New York, United StatesApril 16, 2021
SnapptSeries A--Cyber/FraudInertia VenturesLos Angeles, California, United StatesApril 16, 2021
Liquid MortgageSeed--Blockchain/Crypto--Denver, Colorado, United StatesApril 19, 2021
Alto SolutionsSeries A$17,000,000Wealth ManagementUnusual VenturesNashville, Tennessee, United StatesApril 20, 2021
CandexSeries A$20,000,000Payments/BillingAltos VenturesSan Francisco, California, United StatesApril 20, 2021
ChargebeeSeries G$125,000,000Payments/BillingInsight PartnersSan Francisco, California, United StatesApril 20, 2021Job Openings
ClearcoSeries CCAD125,000,000Capital MarketsOak HC/FTToronto, Ontario, CanadaApril 20, 2021
FintorSeed$2,500,000Mortgage/Real estate500 StartupsPalo Alto, California, United StatesApril 20, 2021
FRACTALSeed$4,000,000Blockchain/CryptoFramework VenturesSanta Monica, California, United StatesApril 20, 2021
GroundbreakerSeed--Mortgage/Real estateSecond Century VenturesChicago, Illinois, United StatesApril 20, 2021
Injective ProtocolFunding Round$10,000,000Blockchain/CryptoPantera CapitalNew York, New York, United StatesApril 20, 2021
MantlSeries B$40,000,000Core TechnologyCapitalGNew York, New York, United StatesApril 20, 2021Job Openings
Otso CorpSeed--Mortgage/Real estateSecond Century VenturesThe Woodlands, Texas, United StatesApril 20, 2021
Turnkey LenderVenture - Series Unknown$6,100,000LendingKFW DEGAustin, Texas, United StatesApril 20, 2021
AvantVenture - Series Unknown$3,900,814Lending--Chicago, Illinois, United StatesApril 21, 2021Job Openings
ChargifyVenture - Series Unknown--Payments/BillingBattery VenturesSan Antonio, Texas, United StatesApril 21, 2021
Dama FinancialSeries B$12,600,000Digital Banking--South San Francisco, California, United StatesApril 21, 2021
DeelSeries C$156,000,000Payments/BillingAndreessen HorowitzSan Francisco, California, United StatesApril 21, 2021Job Openings
Digital AssetSeries D$120,000,000Blockchain/Crypto7RIDGENew York, New York, United StatesApril 21, 2021Job Openings
PlootoSeries ACAD8,000,000Payments/BillingFINTOP CapitalToronto, Ontario, CanadaApril 21, 2021
SaaSOpticsVenture - Series Unknown--Payments/BillingBattery VenturesNorcross, Georgia, United StatesApril 21, 2021
Tribal CreditSeries A$34,300,000LendingQED InvestorsSan Jose, California, United StatesApril 21, 2021
Welcome TechnologiesSeries B$35,000,000Digital BankingOwl VenturesLos Angeles, California, United StatesApril 21, 2021
YieldXSeries B$7,000,000Wealth ManagementWestcapMiami, Florida, United StatesApril 21, 2021
BranchVenture - Series Unknown$19,467,873Payments/Billing--Minneapolis, Minnesota, United StatesApril 22, 2021
Brella InsuranceSeries A$15,000,000InsurTechBrewer Lane VenturesHoboken, New Jersey, United StatesApril 22, 2021
Cascade Financial Technology CorpVenture - Series Unknown$1,602,766Personal Finance--Las Vegas, Nevada, United StatesApril 22, 2021
GoalBased InvestorsSeed$2,750,000Personal FinanceTrue VenturesNew York, New York, United StatesApril 22, 2021
GuiideVenture - Series Unknown--Wealth Management--Scotland, Indiana, United StatesApril 22, 2021
Investor Cash ManagementSeries A$8,999,985Business Intelligence--Chicago, Illinois, United StatesApril 22, 2021
PercentSeries A$12,500,000Wealth ManagementWhite Star CapitalNew York, New York, United StatesApril 22, 2021
Till FinancialVenture - Series Unknown$5,000,000Digital BankingPivotal VenturesNantucket, Massachusetts, United StatesApril 22, 2021
WurkSeries A$3,500,000Payments/BillingWurkDenver, Colorado, United StatesApril 22, 2021
BrexSeries D$425,000,000LendingTiger Global ManagementSan Francisco, California, United StatesApril 26, 2021Job Openings
Flux FinancialSeed--Blockchain/Crypto--San Francisco, California, United StatesApril 26, 2021
LandisSeed--Mortgage/Real estateSecond Century VenturesNew York, New York, United StatesApril 26, 2021
MRB Direct, Inc.Seed--Cyber/FraudAustin CapitalIrvine, California, United StatesApril 26, 2021
SecurrencySeries B$30,000,000Blockchain/CryptoAbu Dhabi Catalyst PartnersWashington, District of Columbia, United StatesApril 26, 2021
WeavSeed$4,300,000Core TechnologyFoundation CapitalNew York, New York, United StatesApril 26, 2021
ArturoSeries B$25,000,000InsurTechAtlantic BridgeChicago, Illinois, United StatesApril 27, 2021Job Openings
Credit Reporting ServicesSeed$1,000,005Lending--San Francisco, California, United StatesApril 27, 2021
CurrentSeries D$220,000,000Digital BankingAndreessen HorowitzNew York, New York, United StatesApril 27, 2021Job Openings
Embedded Financial TechnologiesSeed$20,000,000Core TechnologyY CombinatorVancouver, Washington, United StatesApril 27, 2021
GreenlightSeries D$260,000,000Digital BankingAndreessen HorowitzAtlanta, Georgia, United StatesApril 27, 2021
lamda XVenture - Series Unknown$6,531,681Business Intelligence--Bellevue, Washington, United StatesApril 27, 2021
Sigo SegurosSeed$1,500,000InsurTechDemeter CapitalNew York, New York, United StatesApril 27, 2021
StepSeries C$100,000,000Digital BankingGeneral CatalystPalo Alto, California, United StatesApril 27, 2021Job Openings
ZirtueSeed--LendingNorthwestern Mutual Future VenturesDallas, Texas, United StatesApril 27, 2021
AvibraSeries B$7,184,997InsurTech--Iselin, New Jersey, United StatesApril 28, 2021
BackerVenture - Series Unknown$8,400,000Wealth ManagementCrosslink CapitalSan Francisco, California, United StatesApril 28, 2021
DrankSeed--Payments/BillingBlue Heron VenturesReno, Nevada, United StatesApril 28, 2021
InterValSeed$1,500,000Capital MarketsScott CoffinLondon, Ontario, CanadaApril 28, 2021
SplitwiseSeries A$20,000,000Payments/BillingInsight PartnersProvidence, Rhode Island, United StatesApril 28, 2021
Take Command HealthSeries A$12,000,000InsurTechLiveOak Venture PartnersDallas, Texas, United StatesApril 28, 2021Job Openings
TemplumVenture - Series Unknown$14,739,142Blockchain/Crypto--New York, New York, United StatesApril 28, 2021
UnifimoneySeed--Digital BankingGlobal Millennial CapitalSan Francisco, California, United StatesApril 28, 2021
WunderiteSeed$3,000,000InsurTechSpark CapitalBoston, Massachusetts, United StatesApril 28, 2021
Gr4vySeries A$11,100,000Payments/BillingNyca PartnersSan Mateo, California, United StatesApril 29, 2021
HashflowSeed$3,200,000Blockchain/CryptoDragonfly Capital PartnersSan Francisco, California, United StatesApril 29, 2021
Keeper TaxSeries A$13,000,000Business Intelligencee.venturesSan Francisco, California, United StatesApril 29, 2021
LobusVenture - Series Unknown$6,000,000Wealth Management8VCNew York, New York, United StatesApril 29, 2021
Notional FinanceSeries A$10,000,000Blockchain/CryptoPantera CapitalNew York, New York, United StatesApril 29, 2021
PaxosSeries D$300,000,000Blockchain/CryptoOak HC/FTNew York, New York, United StatesApril 29, 2021Job Openings
AlphaFlowSeries A--Wealth ManagementKnockout CapitalSan Francisco, California, United StatesMay 1, 2021
fortuSeed$5,000,000Digital BankingValar VenturesMiami, Florida, United StatesMay 3, 2021
Boost Payment SolutionsSeries C$22,000,000Payments/BillingInvictus Growth PartnersNew York, New York, United StatesMay 4, 2021Job Openings
Fluence TechnologiesSeries A$10,000,000Business IntelligenceBanneker PartnersToronto, Ontario, CanadaMay 4, 2021
ForgeVenture - Series Unknown$150,000,000Wealth ManagementDeutsche BorseSan Francisco, California, United StatesMay 4, 2021Job Openings
GoalswellSeed$1,500,000Personal FinanceOpenGate CapitalPasadena, California, United StatesMay 4, 2021
HoneyBookSeries D$155,000,000Business IntelligenceDurable Capital PartnersSan Francisco, California, United StatesMay 4, 2021Job Openings
LoanSnapSeries B$30,000,000LendingTrue VenturesSan Francisco, California, United StatesMay 4, 2021Job Openings
PersonaSeries B$50,000,000RegTechIndex VenturesSan Francisco, California, United StatesMay 4, 2021

PREVIOUS REPORTS

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RECENT DEALS

Period: 04/01/2021 - 04/14/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of April 14, 2021
BlockQuake Pre-Seed $352,500 Blockchain/Crypto -- March 31, 2021
Ensemble Seed $3,000,000 Digital Banking TTV Capital March 31, 2021
Salty Dot Venture - Series Unknown $15,000,000 InsurTech Fremont Group March 31, 2021
Spiral Venture - Series Unknown $14,000,000 Digital Banking Team8 March 31, 2021
Windfall Series A $21,000,000 Business Intelligence En Pointe March 31, 2021
Allegory Insurance Pre-Seed -- InsurTech -- April 1, 2021
BrightPlan Series A $9,500,000 Personal Finance Fremont Group April 1, 2021
FYBN Flip Your Business Now Seed $1,000,000 Capital Markets Cloud Toronto April 1, 2021
Next Insurance Series E $250,000,000 InsurTech Battery Ventures April 1, 2021
Scrypt Seed -- Payments/Billing Shai Stern April 1, 2021
StarStock Series A $8,000,000 Wealth Management Andreessen Horowitz April 1, 2021
Lendtable Seed -- Personal Finance Lev Ekster April 2, 2021
Medxoom Series A $8,000,000 InsurTech Castellan Group April 2, 2021
CRiskCo Venture - Series Unknown -- Cyber/Fraud PRYTEK April 4, 2021
Inbox Health Series A $15,000,000 Payments/Billing Commerce Ventures April 5, 2021
Umba Seed -- Digital Banking Two Culture Capital April 6, 2021
Fenris Venture - Series Unknown $2,700,000 InsurTech IDEA Fund Partners April 7, 2021
Plaid Series D $425,000,000 Core Technology Altimeter Capital April 7, 2021
Spaced Ventures Pre-Seed -- Wealth Management Dylan Taylor April 7, 2021
Walnut Seed $3,600,000 Lending Gradient Ventures April 7, 2021
Ramp Series B $115,000,000 Lending D1 Capital Partners April 8, 2021
Finary Seed $3,200,000 Wealth Management Upfront Ventures April 9, 2021
Orum.io Series A $21,000,000 Payments/Billing Bain Capital Ventures April 9, 2021
The Zebra Series D $150,000,000 InsurTech Hedosophia April 12, 2021

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RECENT DEALS

Period: 03/18/2021 - 03/31/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of March 31, 2021
Coalition Series D $175,000,000 InsurTech Index Ventures March 17, 2021
DepositLink Seed $3,500,000 Payments/Billing -- March 17, 2021
FiVerity, Inc. Seed $2,000,000 Cyber/Fraud Mendoza Ventures March 17, 2021
Republic Series A $36,000,000 Capital Markets Galaxy Interactive March 17, 2021
Asteya Series A $10,000,000 InsurTech Northstar Ventures March 18, 2021
Gravie Series D $28,000,000 InsurTech AXA Venture Partners March 18, 2021
Connext Seed $2,200,000 Blockchain/Crypto Polychain March 19, 2021
Snapsheet Series E $30,000,000 InsurTech Pivot Investment Partners March 21, 2021
Afriex Seed $1,200,000 Payments/Billing Launch Africa March 22, 2021
My Susu Inc Pre-Seed -- Personal Finance -- March 22, 2021
Counterpart Series A $10,000,000 InsurTech Valor Equity Partners March 23, 2021
LenderClose Series B $10,000,000 Lending Next Level Ventures March 23, 2021
Surround Insurance Seed $2,600,000 InsurTech Cameron Ventures March 23, 2021
Trace Seed $8,300,000 Business Intelligence Uncork Capital March 23, 2021
Covalent Venture - Series Unknown $2,000,000 Blockchain/Crypto Hashed March 24, 2021
Incode Technologies Series A $25,000,000 Cyber/Fraud 3L Capital March 24, 2021
Machnet Seed $300,000 Payments/Billing -- March 24, 2021
Sardine Seed $4,600,000 Cyber/Fraud XYZ Venture Capital March 24, 2021
Avanti Financial Group Series A $37,000,000 Blockchain/Crypto Coinbase Ventures March 25, 2021
Ease Series C $41,000,000 InsurTech Spectrum Equity March 25, 2021
EnrichHER Seed $700,000 Lending Fearless Fund March 25, 2021
Greenwood Bank Series A $40,000,000 Digital Banking Truist Ventures March 25, 2021
Lukka Series D $53,000,000 Blockchain/Crypto S&P Global March 25, 2021
Maxwell Financial Labs Series B $16,300,000 Lending Fin Venture Capital March 25, 2021
Pie Insurance Series C $118,000,000 InsurTech Acrew Capital March 25, 2021
Chainalysis Series D $100,000,000 Blockchain/Crypto Paradigm March 26, 2021
Spl.yt Core Foundation Venture - Series Unknown $2,750,000 Blockchain/Crypto Bitcoin Capital March 26, 2021
Capitolis Series C $90,000,000 Capital Markets Andreessen Horowitz March 30, 2021
Ethic Series B $29,000,000 Wealth Management Oak HC/FT March 30, 2021
HighRadius Series C $300,000,000 Payments/Billing D1 Capital Partners March 30, 2021

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RECENT DEALS

Period: 03/4/2021 - 03/17/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of March 17, 2021
BlockChyp Series A $2,000,000 Blockchain/Crypto -- March 1, 2021
Finny Pre-Seed -- Personal Finance -- March 1, 2021
Hardbacon Equity Crowdfunding $1,166,400 Personal Finance -- March 1, 2021
MyMarkit Seed -- Blockchain/Crypto Halogen Ventures March 1, 2021
Unchained Capital Seed $5,500,000 Blockchain/Crypto NYDIG March 1, 2021
PayGround Seed $3,500,000 Payments/Billing Triventures March 2, 2021
Stoovo Seed -- Personal Finance Watertower Ventures March 2, 2021
FutureFuel.io Series A $10,000,000 Lending UBS March 3, 2021
Flywire Series F $60,000,000 Payments/Billing Whale Rock Capital Management March 4, 2021
Fundraise Up Series A $11,994,393 Capital Markets -- March 4, 2021
leysi Pre-Seed $100,000 Personal Finance -- March 4, 2021
Stockal Seed $1,000,000 Wealth Management ScaleX Partners March 4, 2021
CoinSmart Seed CAD 4,500,000 Blockchain/Crypto -- March 5, 2021
ComFreight Venture - Series Unknown $1,500,000 Payments/Billing -- March 5, 2021
Eco Series A $26,000,000 Blockchain/Crypto a16z crypto March 5, 2021
Flourish Savings Venture - Series Unknown $1,500,000 Personal Finance Canary March 5, 2021
Transactly Convertible Note $3,000,000 Mortgage/Real estate -- March 5, 2021
AeroPay Venture - Series Unknown $5,000,000 Payments/Billing Chicago Ventures March 8, 2021
AgentSync Series A $25,000,000 InsurTech Craft Ventures March 8, 2021
Flowcast Venture - Series Unknown $3,000,000 Lending ING Ventures March 8, 2021
InterPrice Technologies Seed $2,500,000 Business Intelligence Bowery Capital March 8, 2021
MainStreet Series A $60,000,000 RegTech SignalFire March 8, 2021
NYDIG Venture - Series Unknown $200,000,000 Blockchain/Crypto FS Investments March 8, 2021
Cedar Series D $200,000,000 Payments/Billing Tiger Global Management March 9, 2021
Cube Series A $10,000,000 Business Intelligence Mayfield Fund March 9, 2021
Flutterwave Series C $170,000,000 Core Technology Tiger Global Management March 9, 2021
M1 Finance Series D $75,000,000 Digital Banking Coatue March 9, 2021
MobileCoin Series A $11,350,000 Blockchain/Crypto General Catalyst March 9, 2021
Pipe Series A $50,000,000 Capital Markets Next47 March 9, 2021
Wrapbook Series A $27,000,000 InsurTech Andreessen Horowitz March 9, 2021
Zeni Series A $11,500,000 Business Intelligence Saama Capital March 9, 2021
Cheese Seed $3,600,000 Digital Banking Amplify.LA March 10, 2021
Corvus Insurance Series C $100,000,000 InsurTech Insight Partners March 10, 2021
AcreTrader Series A $12,000,000 Wealth Management Jump Capital March 11, 2021
Alt Series A $31,000,000 Wealth Management Seven Seven Six March 11, 2021
Autobooks Series B $25,000,000 Payments/Billing MissionOG March 11, 2021
BlockFi Series D $350,000,000 Blockchain/Crypto Bain Capital Ventures March 11, 2021
Cowbell Cyber Series A $20,300,000 InsurTech Brewer Lane Ventures March 11, 2021
Hi Marley Series B $25,000,000 InsurTech Emergence March 11, 2021
KOHO Financial Series C CAD 50,000,000 Digital Banking TTV Capital March 11, 2021
Occupier Seed $5,000,000 Mortgage/Real estate Alate Partners March 11, 2021
River Financial Series A $12,000,000 Blockchain/Crypto Goldcrest Capital March 11, 2021
GloveBox Seed $3,000,000 InsurTech Prelude Fund March 12, 2021
JetClosing Series B $11,000,000 Mortgage/Real estate -- March 12, 2021
Stripe Series H $600,000,000 Payments/Billing Sequoia Capital March 14, 2021
Trust Stamp Series A $1,000,000 Cyber/Fraud -- March 15, 2021
upSWOT Seed $4,300,000 Digital Banking -- March 15, 2021

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Our latest funding report includes 30+ FinTech deals, but we also want to take a peek at deals not yet on your radar. Venture funding may be a leading indicator of future partnerships or hiring, but it’s a lagging indicator of sub-sectors and trends.

The venture capital machine Techstars recently invested in a staggering 120 startups, of which 18 are working in FinTech.

Demo day is a lagging indicator. Get 'em while they're hot 👇👇👇

Defynance

On a mission to solve the 1.6 trillion dollar student debt crisis, refinancing student loans with debt-free income share agreements.

Sub-sector: Lending

HQ: Tampa, FL, USA

@defynance

Flaist

Digital Experience Platform for Banks and Financial Institutions to fast track their digital journeys.

Sub-sector: Core Technology

HQ: Dublin, CA, USA

@flaist_hq

Klaim

InsureTech platform offering a SaaS medical claim management and financing platform all in one.

Sub-sector: InsurTech

HQ: Dubai, UAE

@AiKlaim

Pax Credit

Digital Financial Services For International Students.

Sub-sector: Lending

HQ: Hyderabad, India

@paxcredit

Paymob Smart Payments

Replaces conventional card payment terminals.

Sub-sector: Payments

HQ: London, UK

@paymobtech

SympliFI

Neobank for the global diaspora.

Sub-sector: Digital Banking

HQ: London, England, GB

@SymplifiU

Lightning Social Ventures

Enables organizations to quickly verify and pay out funds to people in financial hardship.

Sub-sector: Personal Finance

HQ: London, England, GB

@lightningreach

Edith Labs

Building relationships powered by equity investments.

Sub-sector: Personal Finance/Capital Markets Venn

HQ: Chicago, IL, USA

@edith_labs

Bippit

Go beyond the paycheck for your team, with the best financial support available.

Sub-sector: Personal Finance

HQ: London, England, GB

@bippit_ltd

Avenify

Building better financial and career services for people in healthcare, starting with income share agreements for student financing.

Sub-sector: Personal Finance/Capital Markets Venn

HQ: Oklahoma City, OK, USA

@AvenifyHQ

Floodlight

A data platform that enables financial advisors and asset managers to understand non-financial values of their clients, and align assets accordingly.

Sub-sector: Wealth Management

HQ: Los Angeles, CA, USA

@Floodlight_US

Julius Tech

A flexible data & analytics platform that automates the development, deployment, and support of enterprise DS and ML applications.

Sub-sector: Core Technologies

HQ: Old Tappan, NJ, USA

Humanitru

A CRM and fundraising platform for non-profits so that they can run their operations more effectively.

Sub-sector: Payments

HQ: Richmond, VA, USA

Gravity.ai

A platform for enterprise product teams to explore, test, procure, and integrate 3rd party AI algorithms.

Sub-sector: Capital Markets

HQ: New York, NY, USA

Migrations.ml

Machine learning to produce the next generation of financial data for the bond market.

Sub-sector: Capital Markets

HQ: Toronto, ON, CA

LittleNewt

A tax preparation software and practice management platform for CPA firms that utilizes AI to create tax returns and accurate, real-time estimates.

Sub-sector: Business Intelligence

HQ: Rapid City, SD, USA

@Little_Newt_

Nossa Data

A platform for corporations to do Environmental, Social and Governance (ESG) reporting, data management and analytics.

Sub-sector: Business Intelligence

HQ: London, England, GB

@Nossa_Data

Smash

A financial wellness app that creates personalized payment plans for individuals who want to free themselves of credit card debt.

Sub-sector: Personal Finance

HQ: Brooklyn, USA

@GetSmashApp

RECENT DEALS

Period: 02/17/2021 - 03/03/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of March 3, 2021
Finaloop Pre-Seed -- Core Technology Axon Ventures February 15, 2021
XCLAIM Seed $6,600,000 Lending -- February 15, 2021
Citadel - Payroll APIs Seed $3,500,000 Core Technology Abstract Ventures February 16, 2021
Pawlicy Advisor Series A $6,500,000 InsurTech Rho Capital Partners February 16, 2021
Rheaply Series A $8,000,000 Business Intelligence High Alpha February 16, 2021
Titan Series A $12,500,000 Wealth Management General Catalyst February 16, 2021
Kalshi Series A $30,000,000 Capital Markets Sequoia Capital February 17, 2021
Gravy Series A $4,500,000 Payments/Billing Arlington Family Offices February 17, 2021
Paerpay Pre-Seed -- Payments/Billing Chingona Ventures February 17, 2021
Carefull Seed $3,200,000 Personal Finance Bessemer Venture Partners February 17, 2021
Public.com Series D $220,000,000 Wealth Management Greycroft February 17, 2021
Quadency Seed $100,000 Blockchain/Crypto Dash Investment Foundation February 18, 2021
KindHealth Venture - Series Unknown $4,000,000 InsurTech -- February 18, 2021
Promise Series A $20,000,000 Payments/Billing Kapor Capital February 18, 2021
Allocations Venture - Series Unknown $1,000,000 Capital Markets Helios Capital February 19, 2021
Circulo Health Series A $50,000,000 InsurTech Drive Capital February 19, 2021
Yuansfer Seed $3,000,000 Payments/Billing 37 Angels February 19, 2021
Banks Best Rates Seed $155,000 Personal Finance Dave Goodman February 20, 2021
EquityBee Series A $20,000,000 Capital Markets Group 11 February 22, 2021
Flueid Series A -- InsurTech Aquiline Technology Growth February 22, 2021
Borrowell Series C CAD25,000,000 Lending BDC Capital February 22, 2021
Koffie Labs Seed $3,000,000 InsurTech Lerer Hippeau February 23, 2021
BeSmartee Venture - Series Unknown -- Lending M33 Growth February 23, 2021
Wisetack Venture - Series Unknown $19,000,000 Lending Bain Capital Ventures February 23, 2021
Episode Six Series B $30,000,000 Payments/Billing Anthos Capital February 23, 2021
FundGuard Series A $12,000,000 Wealth Management Blumberg Capital February 23, 2021
PureStream Trading Technologies Series A $14,000,000 Capital Markets Nasdaq Ventures February 24, 2021
EarnUp Series B $25,000,000 Lending Bain Capital Ventures February 24, 2021
Anchorage Series C $80,000,000 Blockchain/Crypto GIC February 25, 2021
Stori Card Series B $32,500,000 Digital Banking Lightspeed Venture Partners February 25, 2021
First Boulevard Seed $5,000,000 Digital Banking Anthemis Group February 26, 2021
Axonius Series D $100,000,000 Cyber/Fraud Stripes March 1, 2021
QUASH.AI Seed -- Lending -- March 1, 2021

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We begin our weekly roundup with a first-in-FinTech experience sure to wow! you out of those COVID blues: pick six lucky numbers and you could win millions.

Alas, this is not an advertisement for your local lotto but a VC-backed FinTech adventure called Millions.app. The age of lotto FinTech has dawned with this stealthy startup “gamifying altruism through social media” having just landed $3M in seed funding. The Empire brain trust continues to tussle with the exact classification of this scheme: Is it wealth? Is it personal finance? Or is it just some combination of gaming or gambling? If it is the latter, the now disingenuously named Robinhood trading app may well be a gaming company. ($GME to the moon.)

On to the recent funding rounds. Our lucky numbers selection this week is Cincinnati-based Coterie Insurance. The team has another $11.5M to continue to tackle commercial insurance with an API-based approach. Later stage deals and pouring one out for our Cap Mkts homies, NYC-based Axoni, landed $31M in funding from big-name capital behemoths such as Citi, Goldman Sachs, and JPMorgan. While your crypto-investments skyrocket, these folks are using the underlying distributed ledger technology (DLT) to reimagine financial market infrastructure. Personally, I’ve been somewhat surprised by the balance-sheet strategy here. Last up, wealth management firm Human Interest and its $55M Series C. The firm is headquartered in San Francisco and works tirelessly to help SMBs with 401(k)s and other employee retirement investments.

 

RECENT DEALS

Period: 02/03/2021 - 02/17/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of February 17, 2021
Axoni Series B $31,000,000 Capital Markets Deutsche Bank February 1, 2021
Buy It Mobility Venture - Series Unknown $3,873,066 Payments/Billing -- February 1, 2021
Cultivo Venture - Series Unknown $1,358,984 Wealth Management -- February 1, 2021
Quantifind Venture - Series Unknown $22,000,000 RegTech In-Q-Tel February 1, 2021
Millions Seed $3,000,000 Personal Finance 8VC February 2, 2021
Routefusion Seed $3,600,000 Payments/Billing Silverton Partners February 2, 2021
TrustLayer Seed $6,600,000 InsurTech Abstract Ventures February 2, 2021
Kountable Inc. Series A -- Other Lateral Capital February 2, 2021
Narmi Series A $20,400,000 Core Technology New Enterprise Associates February 2, 2021
Valon Technologies Series A $50,000,000 Mortgage/Real estate Andreessen Horowitz February 2, 2021
Dealer Policy Series B $30,000,000 InsurTech 3L Capital February 2, 2021
Clarity AI Venture - Series Unknown $24,000,004 Wealth Management -- February 2, 2021
Casa Seed $4,000,000 Blockchain/Crypto Avon Ventures February 3, 2021
Crush Capital Seed $3,250,000 Wealth Management Arlan Hamilton February 3, 2021
Rarible Seed $1,750,000 Blockchain/Crypto 1kx February 3, 2021
Rightfoot Seed $5,000,000 Personal Finance Bain Capital Ventures February 3, 2021
Opyn Series A $6,700,000 Blockchain/Crypto Paradigm February 3, 2021
LeaseLock Series B $52,000,000 InsurTech Westerly Winds February 3, 2021
Stash Series G $125,000,000 Wealth Management Eldridge February 3, 2021
Eusoh Venture - Series Unknown $1,300,000 InsurTech -- February 3, 2021
CredCompare Seed -- Lending ATOORO FUND February 4, 2021
Vested Finance Seed $3,600,000 Wealth Management Venture Catalysts February 4, 2021
Built Technologies Series C $88,000,000 Lending Addition February 4, 2021
ShelterZoom Venture - Series Unknown $4,580,244 Blockchain/Crypto -- February 4, 2021
Coterie Insurance Series A $11,500,000 InsurTech Intact Ventures February 5, 2021
Ledn Seed $2,700,000 Wealth Management Global Founders Capital February 8, 2021
Zeta Pre-Seed $1,500,000 Digital Banking Deciens Capital February 9, 2021
Symend Series B CAD54,000,000 Personal Finance Inovia Capital February 9, 2021
Equal Ventures Venture - Series Unknown $15,000,000 InsurTech -- February 9, 2021
Fair Fintech Venture - Series Unknown $20,000,000 Digital Banking -- February 9, 2021
Mesh Payments Venture - Series Unknown $13,000,000 Payments/Billing TLV Partners February 9, 2021
Level Pre-Seed $1,500,000 Lending NextView Ventures February 10, 2021
Marble Seed $2,500,000 InsurTech Fintech Ventures Fund February 10, 2021
TomoCredit Seed $7,000,000 Lending BAM Ventures February 10, 2021
SoLo Funds Series A $10,000,000 Lending ACME Capital February 10, 2021
NYMBUS Series C $53,000,000 Core Technology Insight Partners February 10, 2021
Celo Venture - Series Unknown $20,000,000 Payments/Billing Andreessen Horowitz February 10, 2021
Fraction Venture - Series Unknown CAD289,000,000 Lending Impression Ventures February 10, 2021
Purpose Financial Venture - Series Unknown $53,500,000 Wealth Management Allianz X February 10, 2021
PayZen Seed $5,000,000 Payments/Billing Picus Capital February 11, 2021
Capitalize Series A $12,500,000 Personal Finance Canapi Ventures February 11, 2021
UpEquity Series A $7,500,000 Mortgage/Real estate Next Coast Ventures February 11, 2021
Human Interest Series C $55,000,000 Wealth Management Glynn Capital Management February 11, 2021
CryptiSwap Pre-Seed $65,000 Blockchain/Crypto -- February 13, 2021
Briza.io Series A $8,000,000 InsurTech -- February 14, 2021

https://empirestartups.com/wp-content/uploads/2021/02/facebook_funding_feb_2_2021-300x200.jpg

This week’s magic number is 1.7 – one billion, seven hundred million dollars in total funding flooding into the wide world of FinTech. Lending in Q1 is off to an especially active start. Let’s hit the list to see which startups are making waves.

New York-based startup Instnt, having lost a key vowel, has managed to find that sneaky letter at the end of a Series funding round. The $7M-and-change Series A is powering this core tech/fraud company. Fun fact: In a previous work-life iteration, Instnt CEO and Founder Sunil Madhu was CEO and Founder of an Empire alum and crowd favorite, Socure. Sunil, cheers to you old sport!

Digital Banking is a hot ticket that was given a boost by COVID-19 and the transition to Zoom-life. Yotta Savings is another innovator in the space, offering free savings accounts and other goodies. This startup pulled in a $13m Series A raise just months after closing a Seed round. Lead investor for this most-recent round, Base10 Partners, must have been wowed by Yotta’s Q4 2020 growth numbers. Oh, and before we forget, do take a minute to check out the recent Forbes article on the work these fine folks are doing.

Our secretive seed this week comes in the form of Pontoro, a capital markets FinTech on a mission to transform infrastructure financing. This involves creating “custom portfolios of infrastructure assets within its tokenization platform and facilitate bi-lateral liquidity among participants”. Two interesting developments worth noting. 1) The startup is now Techstars-backed, and 2) They are backed by the Abu Dhabi program, which highlights how FinTech and digitization are growing in the Middle East.

 

IN THE NEWS...

RECENT DEALS

Period: 01/18/2021 - 02/02/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of February 2, 2021
Yuansfer Seed -- Payments/Billing Moayed Almoayed January 3, 2021
Ntropy Network Seed $3,239,998 Payments/Billing -- January 8, 2021
Pontoro Seed Capital Markets Franklin Templeton Investments January 8, 2021
CarrotFi Seed $100,000 Mortgage/Real estate Entrepreneurs Roundtable Accelerator January 11, 2021
FeeBelly Pre-Seed $200,000 Personal Finance -- January 11, 2021
Imprint Venture - Series Unknown $14,000,773 Payments/Billing -- January 11, 2021
PolySign Venture - Series Unknown $7,700,000 Capital Markets -- January 11, 2021
Instnt Series A $7,024,254 Core Technology -- January 12, 2021
Loop Seed $3,250,000 InsurTech Freestyle Capital January 13, 2021
Clarity AI Venture - Series Unknown Wealth Management BlackRock January 14, 2021
Home Lending Pal Seed $900,000 Mortgage/Real estate Bluewave Investment Partners January 15, 2021
Apiture Venture - Series Unknown $10,000,000 Core Technology Bankers Healthcare Group January 19, 2021
Arbol Series A $7,000,000 InsurTech Mubadala Capital January 19, 2021
Axela Technologies Series A $10,000,000 Payments/Billing Blueprint Equity January 19, 2021
Brigit Series A $35,000,000 Personal Finance Lightspeed Venture Partners January 19, 2021
Spinwheel Seed $3,649,999 Lending -- January 19, 2021
Trovata Series A $20,000,000 Capital Markets Wells Fargo Strategic Capital, Inc. January 19, 2021
Flaist Pre-Seed Core Technology Techstars Hub71 January 20, 2021
MotoRefi Series A $10,000,000 Lending Moderne Ventures January 22, 2021
Parkside Series A $24,000,000 Capital Markets -- January 22, 2021
SafetyWing Series A $8,000,000 InsurTech Creandum January 22, 2021
CrowdfundNC Seed $1,500,000 Capital Markets -- January 25, 2021
Goalsetter Seed $3,900,000 Digital Banking Astia January 25, 2021
Melio Series C $110,000,000 Payments/Billing Coatue January 25, 2021
Paymerang Venture - Series Unknown $10,000,000 Payments/Billing Aldrich Capital Partners January 25, 2021
Print Financial Seed $2,000 Lending -- January 25, 2021
Albert Series C $100,000,000 Personal Finance General Atlantic January 26, 2021
Bbot Seed $4,000,000 Payments/Billing Rally Ventures January 26, 2021
dYdX Series B $10,000,000 Blockchain/Crypto Defiance Capital January 26, 2021
Joshu Seed $3,700,000 InsurTech Blumberg Capital January 26, 2021
MPOWER Financing Venture - Series Unknown $25,000,000 Lending Tilden Park Capital Management LP January 26, 2021
Pilot Series C $60,000,000 Business Intelligence Sequoia Capital January 26, 2021
Roostify Series C $32,000,000 Lending Ten Coves Capital January 26, 2021
Sidecar Health Series C $125,000,000 InsurTech Drive Capital January 26, 2021
Wyre Venture - Series Unknown $7,500,000 Payments/Billing Stellar Development Foundation January 26, 2021
Check Technologies Series B $35,000,000 Core Technology Thrive Capital January 27, 2021
Doorvest Seed $2,500,000 Mortgage/Real estate Mucker Capital January 27, 2021
MainStreet Venture - Series Unknown RegTech SignalFire January 27, 2021
Milo Seed $6,000,000 Lending QED Investors January 27, 2021
Abound Seed $6,000,000 Business Intelligence Point72 Ventures January 28, 2021
Aspiration Venture - Series Unknown $50,000,000 Digital Banking FootPrint Coalition January 28, 2021
Yotta Savings Series A $13,200,000 Digital Banking Base10 Partners January 28, 2021
Robinhood Venture - Series Unknown $1,000,000,000 Wealth Management Sequoia Capital January 29, 2021

https://empirestartups.com/wp-content/uploads/2021/02/facebook_funding_jan_17_2021-300x200.jpg

Historically, Q1 is the busiest time of the year for FinTech fundraising. We have a paltry ~30 deals so far this year – did everyone get the memo?

A quick glance at the sub-sectors in our list this week shows two curious outliers: wealth management and personal finance. The Empire Brain Trust isn’t surprised, given firms began to re-evaluate partners in light of the increasing shift-to-digital brought on by pandemic restrictions globally. Consumers followed suit, shifting to digital banks for a host of reasons – rapid access to stimulus funds being one compelling reason.

With the above, we offer one prediction for 2021: partner re-evaluation continues for the foreseeable future and so venture capitalists place bigger bets. Now onto the show.

In light of the rapid rise of Bitcoin over the past month, we begin this week with a nod to crypto- and blockchain-enthusiasts in the crowd. Our list features two venture rounds and one Series A from FinTech startups pioneering the space. Our Series A belongs to LA-based Arca, a financial services firm focusing on crypto-assets and blockchain investments. The $10M Series A was led by venture capital firm RRE Ventures, known for having backed some noteworthy names: Venmo, BuzzFeed, and NerdWallet, to name a few.

Before we leave you, let’s conclude with two select seed rounds. Personal Finance startup Secure landed $3.5M to help employers build out emergency savings accounts (ESAs) for employees. The company is tackling a problem COVID-19 has only made worse: financial stress caused by unexpected expenses. In the real estate space, we have LEX Markets. The company secured $6M aiming to make investing in commercial real estate public through single-asset IPOs.

IN THE NEWS...

RECENT DEALS

Period: 01/04/2021 - 01/17/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of January 17, 2021
BusyKid Seed $800,000 Personal Finance -- January 4, 2021
Diligend Seed $1,300,000 Capital Markets -- January 4, 2021
Periculum Pre-Seed -- Lending -- January 4, 2021
Divvy Series D $165,000,000 Payments/Billing PayPal Ventures January 5, 2021
Miventure Seed $439,000 Wealth Management -- January 5, 2021
PredictAP Venture - Series Unknown $2,765,000 Payments/Billing -- January 5, 2021
SimpleNexus Series B $108,000,000 Mortgage/Real estate Insight Partners January 5, 2021
Capitalize Series A $12,271,417 Personal Finance -- January 6, 2021
Groundspeed Analytics Series C -- InsurTech Insight Partners January 6, 2021
Levo Financial Pre-Seed $400,000 Digital Banking -- January 6, 2021
Apollo Insurance Series A $13,500,000 InsurTech Gravitas Securities January 7, 2021
Carpay Series A $6,500,000 Lending Autotech Ventures January 7, 2021
Predictive Trading Systems Seed $333,089 Capital Markets -- January 7, 2021
PrefLogic Venture - Series Unknown $1,310,000 Wealth Management -- January 7, 2021
SoFi Venture - Series Unknown $369,840,376 Digital Banking -- January 7, 2021
Xiggit Pre-Seed $125,000 Personal Finance -- January 9, 2021
Altruist Venture - Series Unknown -- Wealth Management Venrock January 11, 2021
Jassby Venture - Series Unknown $2,900,000 Blockchain/Crypto SeedInvest January 11, 2021
Brace Series B $15,700,000 Mortgage/Real estate Canvas Ventures January 12, 2021
dv01 Series B $6,000,000 Capital Markets Pivot Investment Partners January 12, 2021
Modern Treasury Series B $38,000,000 Payments/Billing Altimeter Capital January 12, 2021
Arca Series A $10,000,000 Blockchain/Crypto RRE Ventures January 13, 2021
Blend Series G $300,000,000 Lending Coatue January 13, 2021
LEX Markets Seed $6,000,000 Mortgage/Real estate Inertia Ventures January 13, 2021
MX Technologies Series C $300,000,000 Core Technology TPG January 13, 2021
Rho Business Banking Series A $15,000,000 Digital Banking M13 January 13, 2021
Secure Seed $3,500,000 Personal Finance SeaChange January 13, 2021
Bookkeeper360 Seed $1,000,000 Business Intelligence -- January 14, 2021
Own Up Series B $12,000,000 Lending Brand Foundry Ventures January 14, 2021
Prometheum Venture - Series Unknown $15,000,000 Blockchain/Crypto -- January 14, 2021
X1 Card Venture - Series Unknown $12,000,000 Lending Spark Capital January 14, 2021

https://empirestartups.com/wp-content/uploads/2021/01/facebook_funding_jan_3_2021-300x200.jpg

We made it – 2021 is here. And with this new year comes a rapidly evolving venture funding situation in FinTech. A first major trend is the influx of capital at Series A. Early-stage investment firms, such as QED Investors and Coatue, have both played king-maker in 2020. In Q4 of 2020, QED filled the coffers of Provide with a $34M Series A. That same quarter, Coatue raised a king’s ransom for both Ramp ($34M) and Gorillas ($44M) Series A funding rounds.

This brings up a second point. Series A funding rounds averaged $8.6M in 2020 nationally. Our question: Can businesses move fast enough to catch up to the valuations from these funding rounds? As Series A funding rounds continue to grow, a chasm is created between Series A and seed rounds. We may need to consider a new round name. Seed extensions doesn’t sound quite right. Maybe, seed-plus? Food for thought.

In the spirit of a dawning new year, we are focusing on those just-blossoming companies at the seed stage. Our list this week comes packed with eight seedlings, of which we’ve selected three.

The FinTech lending startup TradeUp out of Y Combinator in Q1 of 2020. Three quarters later the company announced a $4M-and-change seed round. The company is following the path-of-most-disruption in the student loan market, and offers income share agreements (ISAs) to those training for a new career. Umba, a digital bank made for Africa, landed a recent $2M seed round. The bank operates in Kenya and Nigeria, and will likely capitalize on the worldwide growth of digital banking. Business intelligence startup XILO raised $2M+ in December 2020, having had two pre-seed rounds earlier in the year. This startup makes a sales and quoting platform for insurance agencies.

RECENT DEALS

Period: 12/17/2020 - 01/03/2021

Name Funding Type Money Raised Vertical Lead Investor Announced
Sources: Crunchbase, Empire Startups. Data is current as of January 3, 2021
NetGiver Seed $1,500,000 Personal Finance -- December 14, 2020
Self Financial Series D $40,000,000 Lending Meritech Capital Partners December 15, 2020
Vise Series B $45,000,000 Wealth Management Sequoia Capital December 15, 2020
Provide Series A $34,000,000 Digital Banking QED Investors December 15, 2020
Conio Series B $14,000,000 Blockchain/Crypto Banca Generali December 15, 2020
Paxos Series C $142,000,000 Blockchain/Crypto Declaration Partners December 16, 2020
Bestow Series C $70,000,000 InsurTech Valar Ventures December 16, 2020
Neo Financial Series A $25,000,000 Digital Banking Valar Ventures December 16, 2020
Paywoke Pre-Seed -- Core Technology -- December 16, 2020
Oscar Health Venture - Series Unknown $140,000,000 InsurTech Tiger Global Management December 17, 2020
Ramp Series A $30,000,000 Payments/Billing Coatue December 17, 2020
FalconX Venture - Series Unknown -- Blockchain/Crypto American Express Ventures December 17, 2020
Umba Seed $2,000,000 Digital Banking Act Venture Capital December 17, 2020
Openly Series B $40,000,000 InsurTech Advance Venture Partners December 17, 2020
Neat Capital Series C $20,499,999 Mortgage/Real estate -- December 17, 2020
TAP Network Series A $4,000,000 Core Technology Access Industries December 18, 2020
Avenue 8 Seed $4,000,000 Mortgage/Real estate Craft Ventures December 18, 2020
Foresight Risk and Insurance Services Series A $20,500,000 InsurTech Brick & Mortar Ventures December 18, 2020
Very Good Security Series C $60,000,000 Cyber/Fraud Vertex Ventures December 18, 2020
XILO Seed $2,040,000 Business Intelligence New Stack Ventures December 18, 2020
TradeUp Seed $4,011,495 Lending -- December 18, 2020
MIAX New Jersey Funding Round $94,924,228 Capital Markets -- December 18, 2020
Positivly Seed $2,500,000 Wealth Management The Tifin Group December 20, 2020
Bolt Series C $75,000,000 Payments/Billing General Atlantic December 21, 2020
Qualia Series D $65,000,000 Mortgage/Real estate Tiger Global Management December 21, 2020
Perch Credit Seed $2,500,000 Lending Citigroup December 21, 2020
Oxygen Series A $17,000,000 Digital Banking Runa Capital December 21, 2020
LifeRaft Seed $3,500,000 InsurTech XYZ Venture Capital December 22, 2020
Flowcast Convertible Note $3,000,000 Lending Katalyst.Ventures December 22, 2020
Finix Payments Series B -- Payments/Billing -- December 23, 2020
Qoins Seed -- Personal Finance Partnership Capital Ventures December 30, 2020
Periculum Pre-Seed -- Lending -- January 4, 2021