FINTECH FUNDING NEWS
The latest funding deals and a few trends we're tracking. Ideas on what else would be helpful?
JUNE 9TH REPORT
VENTURE FUNDING IN 2021
0
Q1 FinTech Deals
0
Q1 Capital Raised (M)
0
Q2 FinTech Deals
0
Q2 Capital Raised (M)
0
2021 FinTech Deals [YTD]
0
2021 Capital Raised (M) [YTD]
0
2020 FinTech Deals
0
2020 Capital Raised (M)
NORTH AMERICA ONLY
US FINTECH ECOSYSTEM IN 2021
LEADING SECTORS BY STATE
CALIFORNIA
- Payments/Billing (15.18%)
- Lending (11.02%)
- InsurTech (9.77%)
NEW YORK
- Wealth Management (15.97%)
- Blockchain/Crypto (12.15%)
- Capital Markets (11.46%)
MASSACHUSETTS
- InsurTech (29.63%)
- Payments/Billing (14.81%)
- Capital Markets (9.26%)
InsurTech is on fire in every major FinTech ecosystem in the US.
Blockchain and crypto are going mainstream. Representing a large portion of NY deals thanks to Wealth and Capital markets solutions.
InsurTech represents a staggering 24% of the Massachusetts ecosystem in 2020 and even higher in Q1 2021.
Boston is giving Atlanta a run for it's payments dominance.
HOW TRENDS ARE EVOLVING [2021 vs 2020]
| 2020 | 2021 | Variation | |
|---|---|---|---|
| Lending | 7.53% (66) | 12.35% (61) | 4.82% ▲ |
| Blockchain/Crypto | 7.18% (63) | 11.34% (56) | 4.15% ▲ |
| InsurTech | 12.31% (108) | 15.18% (75) | 2.87% ▲ |
| Capital Markets | 9.46% (83) | 6.48% (32) | -2.99% ▼ |
| Mortgage/Real Estate | 7.53% (66) | 5.06% (25) | -2.46% ▼ |
| Core Technology | 7.07% (62) | 4.45% (22) | -2.62% ▼ |
A surge in Mortgage and Real Estate startups in 2020. Had to cool off eventually.
The crypto bull-market is driving entrepreneurs to the space. Typically dominated by the west coast.
Challenger banks continue to make headlines but flatlined from the year prior.
Anecdotally we're seeing unmet demand for Capital Markets focused startups.
RECENT DEALS
Period: 05/25/2021 - 06/09/2021
| Name | Funding Type | Money Raised | Vertical | Lead Investor | Headquarters | Announced | Hiring? |
|---|---|---|---|---|---|---|---|
| Sources: Crunchbase, Empire Startups. Data is current as of June 9, 2021 | |||||||
| Collectable | Series A | $5,500,000 | Wealth Management | Bain Capital Ventures | New York, New York, United States | May 26, 2021 | |
| Obie | Series A | $10,700,000 | InsurTech | Battery Ventures | Chicago, Illinois, United States | May 26, 2021 | |
| Tilled | Series A | $11,000,000 | Payments/Billing | Canvas Ventures | Boulder, Colorado, United States | May 26, 2021 | |
| Axle | Series A | $10,000,000 | Lending | Crosslink Capital | New York, New York, United States | May 26, 2021 | |
| BondLink | Series B | $18,000,000 | Capital Markets | -- | Boston, Massachusetts, United States | May 26, 2021 | |
| Ledn | Series A | $30,000,000 | Wealth Management | Kingsway Capital | Toronto, Ontario, Canada | May 26, 2021 | |
| Park Place Payments | Seed | $1,500,000 | Payments/Billing | Curate Capital | Woodland Hills, California, United States | May 26, 2021 | |
| Talos Trading | Series A | $40,000,000 | Blockchain/Crypto | Andreessen Horowitz | New York, New York, United States | May 27, 2021 | |
| Homeward | Series B | $136,000,000 | Lending | Norwest Venture Partners | Austin, Texas, United States | May 27, 2021 | |
| Resolve | Venture - Series Unknown | $60,000,000 | Personal Finance | Initialized Capital | Oakland, California, United States | May 27, 2021 | |
| RoyFi | Venture - Series Unknown | $1,471,000 | Lending | -- | Franklin, Tennessee, United States | May 27, 2021 | |
| Set Labs | Series A | $14,000,000 | Blockchain/Crypto | 1kx | San Francisco, California, United States | May 28, 2021 | |
| MotoRefi | Series B | $45,000,000 | Lending | Goldman Sachs | Arlington, Virginia, United States | May 28, 2021 | Job Openings |
| Swype | Pre-Seed | $350,000 | Blockchain/Crypto | Village Global | Miami, Florida, United States | May 28, 2021 | |
| Chipper Cash | Series C | $100,000,000 | Money Transfer/Remittances | SVB Capital | San Francisco, California, United States | May 31, 2021 | Job Openings |
| Spiff | Series B | $46,000,000 | Business Intelligence | Lightspeed Venture Partners | Sandy, Utah, United States | June 1, 2021 | |
| Truebill | Series D | $45,000,000 | Personal Finance | Accel | Silver Spring, Maryland, United States | June 1, 2021 | Job Openings |
| Bundle | Seed | $600,000 | Mortgage/Real estate | Allied Venture Partners | Charlotte, North Carolina, United States | June 1, 2021 | |
| Dito Ventures Inc | Pre-Seed | -- | Lending | -- | Wilmington, Delaware, United States | June 1, 2021 | |
| Green Feather Software | Seed | $1,500,000 | Payments/Billing | Lawrence P. Huang | Atlanta, Georgia, United States | June 1, 2021 | |
| PropBidder | Seed | $500,000 | Mortgage/Real estate | Sequoia Scout | Newport Beach, California, United States | June 1, 2021 | |
| Pinwheel | Series A | $20,000,000 | Core Technology | Coatue | New York, New York, United States | June 2, 2021 | |
| Jeeves | Series A | $26,000,000 | Lending | Andreessen Horowitz | New York, New York, United States | June 2, 2021 | |
| Spruce Holdings | Series C | $60,000,000 | InsurTech | Zigg Capital | New York, New York, United States | June 2, 2021 | Job Openings |
| Synctera | Series A | $33,000,000 | Core Technology | Fin Venture Capital | San Francisco, California, United States | June 2, 2021 | |
| Yieldstreet | Series C | $100,000,000 | Wealth Management | Tarsadia Investments | New York, New York, United States | June 2, 2021 | Job Openings |
| Trellis | Series A | $10,000,000 | InsurTech | QED Investors | San Francisco, California, United States | June 3, 2021 | |
| Bench | Series C | $73,000,000 | InsurTech | Contour Venture Partners | Vancouver, British Columbia, Canada | June 3, 2021 | |
| The Beans | Seed | $2,000,000 | Personal Finance | Precursor Ventures | San Francisco, California, United States | June 3, 2021 | |
| Capchase | Series A | $103,000,000 | Lending | QED Investors | New York, New York, United States | June 4, 2021 | |
| Unchained Capital | Series A | $25,000,000 | Blockchain/Crypto | NYDIG | Austin, Texas, United States | June 4, 2021 | |
| Briq | Series B | $30,000,000 | Business Intelligence | Tiger Global Management | Santa Barbara, California, United States | June 7, 2021 | Job Openings |
| MoneyHash | Pre-Seed | -- | Payments/Billing | COTU Ventures | San Francisco, California, United States | June 7, 2021 | |
| Airbase | Series B | $60,000,000 | Business Intelligence | Menlo Ventures | San Francisco, California, United States | June 8, 2021 | Job Openings |
PREVIOUS REPORTS
MAY 24TH REPORT:TOP FINTECH VENTURE ROUNDS
IN THE NEWS...
RECENT DEALS
Period: 05/10/2021 - 05/24/2021
| Name | Funding Type | Money Raised | Vertical | Lead Investor | Announced | |
|---|---|---|---|---|---|---|
| Sources: Crunchbase, Empire Startups. Data is current as of May 24, 2021 | ||||||
| Ethos | Series D | $200,000,000 | InsurTech | General Catalyst | May 11, 2021 | |
| Lili | Series B | $55,000,000 | Digital Banking | Group 11 | May 11, 2021 | |
| Plunk | Seed | $6,500,000 | Mortgage/Real estate | Unlock Venture Partners | May 11, 2021 | |
| Collective | Series A | $20,000,000 | Digital Banking | General Catalyst | May 12, 2021 | |
| Planck | Venture - Series Unknown | $20,000,000 | InsurTech | 3L Capital | May 12, 2021 | |
| Sanlo | Seed | $3,500,000 | Business Intelligence | Index Ventures | May 12, 2021 | |
| Stampli | Series C | $50,000,000 | Payments/Billing | Insight Partners | May 12, 2021 | |
| Treasury Prime | Series B | $20,000,000 | Core Technology | QED Investors | May 12, 2021 | |
| Alice | Seed | $2,000,000 | Money Transfer/Remittances | Arrington XRP Capital | May 13, 2021 | |
| iink Endorsements | Seed | $900,000 | InsurTech | -- | May 13, 2021 | |
| Makara Digital | Seed | $2,085,000 | Blockchain/Crypto | -- | May 13, 2021 | |
| PolySign | Series B | $53,000,000 | Capital Markets | Cowen Group | May 13, 2021 | |
| Relay | Series A | $15,000,000 | Digital Banking | Bain Capital Ventures | May 13, 2021 | |
| Upsie | Series A | $18,200,000 | InsurTech | True Ventures | May 13, 2021 | |
| Lieef | Seed | -- | Wealth Management | -- | May 14, 2021 | |
| Amount.com | Series D | $99,000,000 | Core Technology | WestCap | May 17, 2021 | |
| Goldfinch | Venture - Series Unknown | $11,700,001 | Blockchain/Crypto | -- | May 17, 2021 | |
| Hearth | Series B | $23,000,000 | Payments/Billing | Human Capital | May 17, 2021 | |
| Jerry | Series B | $28,000,000 | InsurTech | Goodwater Capital | May 17, 2021 | |
| Rally | Series B | $30,000,000 | Wealth Management | Accel | May 17, 2021 | |
| Zapper | Series A | $15,000,000 | Blockchain/Crypto | Framework Ventures | May 17, 2021 | |
| BuyProperly | Seed | $2,000,000 | Wealth Management | Nurture Ventures | May 18, 2021 | |
| DailyPay | Series D | $175,000,000 | Payments/Billing | Carrick Capital Partners | May 18, 2021 | |
| Informed.IQ | Series A | $20,000,000 | Lending | Nyca Partners | May 18, 2021 | |
| Lance | Seed | $2,800,000 | Digital Banking | Barclays | May 18, 2021 | |
| Settle | Series A | $15,000,000 | Payments/Billing | Kleiner Perkins | May 18, 2021 | |
| Vise | Series C | $65,000,000 | Wealth Management | Ribbit Capital | May 18, 2021 | |
| Zoe Financial | Series A | $10,000,000 | Wealth Management | SB Opportunity Fund | May 18, 2021 | |
| Altruist | Series B | $50,000,000 | Wealth Management | Insight Partners | May 19, 2021 | |
| Non-fungible Technologies | Seed | $2,750,000 | Blockchain/Crypto | Lemniscap | May 19, 2021 | |
| Wingocard | Seed | $1,700,000 | Digital Banking | Panache Ventures | May 19, 2021 | |
| Boost | Series B | $20,000,000 | InsurTech | RRE Ventures | May 20, 2021 | |
| Cryptocurrencies.Ai | Venture - Series Unknown | $8,000,000 | Blockchain/Crypto | Alameda Research | May 20, 2021 | |
| Figure | Series D | $200,000,000 | Lending | Morgan Creek Digital | May 20, 2021 | |
| Found | Series A | $12,750,000 | Digital Banking | Sequoia Capital | May 20, 2021 | |
| Leif | Venture - Series Unknown | $10,000,000 | Lending | Insita Group | May 20, 2021 | |
| Lithic | Series B | $43,000,000 | Payments/Billing | Bessemer Venture Partners | May 20, 2021 | |
| ProducePay | Series C | $43,000,000 | Lending | G2VP | May 20, 2021 | |
| Sunbit | Series D | $130,000,000 | Lending | Group 11 | May 20, 2021 | |
| Gainy | Pre-Seed | $200,000 | Wealth Management | Founders.ai | May 21, 2021 | |
| iLife | Seed | $4,000,000 | InsurTech | Foundation Capital | May 21, 2021 | |
| NerdWallet | Venture - Series Unknown | -- | Personal Finance | Raison Asset Management | May 21, 2021 | |
| Mile Auto | Seed | $10,300,000 | InsurTech | Emergent Ventures | May 24, 2021 | |
| Solidus Labs | Series A | $20,000,000 | Blockchain/Crypto | Evolution Equity Partners | May 24, 2021 | |
| Zeta | Series C | $250,000,000 | Core Technology | SoftBank Vision Fund | May 24, 2021 | |
| Tiv | Seed | $3,500,000 | Payments/Billing | 4490 Ventures | May 25, 2021 | |
MAY 10TH REPORT:TOP FINTECH VENTURE ROUNDS
IN THE NEWS...
RECENT DEALS
Period: 04/14/2021 - 05/09/2021
| Name | Funding Type | Money Raised | Vertical | Lead Investor | Announced | |
|---|---|---|---|---|---|---|
| Sources: Crunchbase, Empire Startups. Data is current as of May 10, 2021 | ||||||
| CryptoSlam | Angel | -- | Blockchain/Crypto | Aloomii | April 15, 2021 | |
| Doorstead | Series A | $12,500,000 | Mortgage/Real estate | Madrona Venture Group | April 15, 2021 | |
| Plentina | Seed | $2,200,000 | Lending | Andrew Vigneault | April 15, 2021 | |
| Routable | Series B | $29,964,761 | Payments/Billing | Jack Altman | April 15, 2021 | |
| Signifyd | Series E | $205,000,000 | Cyber/Fraud | Owl Rock Capital Partners | April 15, 2021 | |
| Level | Series A | $27,000,000 | Lending | Khosla Ventures | April 16, 2021 | |
| Snappt | Series A | -- | Cyber/Fraud | Inertia Ventures | April 16, 2021 | |
| Liquid Mortgage | Seed | -- | Blockchain/Crypto | -- | April 19, 2021 | |
| Alto Solutions | Series A | $17,000,000 | Wealth Management | Unusual Ventures | April 20, 2021 | |
| Candex | Series A | $20,000,000 | Payments/Billing | Altos Ventures | April 20, 2021 | |
| Chargebee | Series G | $125,000,000 | Payments/Billing | Insight Partners | April 20, 2021 | |
| Clearco | Series C | CAD125,000,000 | Capital Markets | Oak HC/FT | April 20, 2021 | |
| Fintor | Seed | $2,500,000 | Mortgage/Real estate | 500 Startups | April 20, 2021 | |
| FRACTAL | Seed | $4,000,000 | Blockchain/Crypto | Framework Ventures | April 20, 2021 | |
| Groundbreaker | Seed | -- | Mortgage/Real estate | Second Century Ventures | April 20, 2021 | |
| Injective Protocol | Funding Round | $10,000,000 | Blockchain/Crypto | Pantera Capital | April 20, 2021 | |
| Mantl | Series B | $40,000,000 | Core Technology | CapitalG | April 20, 2021 | |
| Otso Corp | Seed | -- | Mortgage/Real estate | Second Century Ventures | April 20, 2021 | |
| Turnkey Lender | Venture - Series Unknown | $6,100,000 | Lending | KFW DEG | April 20, 2021 | |
| Avant | Venture - Series Unknown | $3,900,814 | Lending | -- | April 21, 2021 | |
| Chargify | Venture - Series Unknown | -- | Payments/Billing | Battery Ventures | April 21, 2021 | |
| Dama Financial | Series B | $12,600,000 | Digital Banking | -- | April 21, 2021 | |
| Deel | Series C | $156,000,000 | Payments/Billing | Andreessen Horowitz | April 21, 2021 | |
| Digital Asset | Series D | $120,000,000 | Blockchain/Crypto | 7RIDGE | April 21, 2021 | |
| Plooto | Series A | CAD8,000,000 | Payments/Billing | FINTOP Capital | April 21, 2021 | |
| SaaSOptics | Venture - Series Unknown | -- | Payments/Billing | Battery Ventures | April 21, 2021 | |
| Tribal Credit | Series A | $34,300,000 | Lending | QED Investors | April 21, 2021 | |
| Welcome Technologies | Series B | $35,000,000 | Digital Banking | Owl Ventures | April 21, 2021 | |
| YieldX | Series B | $7,000,000 | Wealth Management | Westcap | April 21, 2021 | |
| Branch | Venture - Series Unknown | $19,467,873 | Payments/Billing | -- | April 22, 2021 | |
| Brella Insurance | Series A | $15,000,000 | InsurTech | Brewer Lane Ventures | April 22, 2021 | |
| Cascade Financial Technology Corp | Venture - Series Unknown | $1,602,766 | Personal Finance | -- | April 22, 2021 | |
| GoalBased Investors | Seed | $2,750,000 | Personal Finance | True Ventures | April 22, 2021 | |
| Guiide | Venture - Series Unknown | -- | Wealth Management | -- | April 22, 2021 | |
| Investor Cash Management | Series A | $8,999,985 | Business Intelligence | -- | April 22, 2021 | |
| Percent | Series A | $12,500,000 | Wealth Management | White Star Capital | April 22, 2021 | |
| Till Financial | Venture - Series Unknown | $5,000,000 | Digital Banking | Pivotal Ventures | April 22, 2021 | |
| Wurk | Series A | $3,500,000 | Payments/Billing | Wurk | April 22, 2021 | |
| Brex | Series D | $425,000,000 | Lending | Tiger Global Management | April 26, 2021 | |
| Flux Financial | Seed | -- | Blockchain/Crypto | -- | April 26, 2021 | |
| Landis | Seed | -- | Mortgage/Real estate | Second Century Ventures | April 26, 2021 | |
| MRB Direct, Inc. | Seed | -- | Cyber/Fraud | Austin Capital | April 26, 2021 | |
| Securrency | Series B | $30,000,000 | Blockchain/Crypto | Abu Dhabi Catalyst Partners | April 26, 2021 | |
| Weav | Seed | $4,300,000 | Core Technology | Foundation Capital | April 26, 2021 | |
| Arturo | Series B | $25,000,000 | InsurTech | Atlantic Bridge | April 27, 2021 | |
| Credit Reporting Services | Seed | $1,000,005 | Lending | -- | April 27, 2021 | |
| Current | Series D | $220,000,000 | Digital Banking | Andreessen Horowitz | April 27, 2021 | |
| Embedded Financial Technologies | Seed | $20,000,000 | Core Technology | Y Combinator | April 27, 2021 | |
| Greenlight | Series D | $260,000,000 | Digital Banking | Andreessen Horowitz | April 27, 2021 | |
| lamda X | Venture - Series Unknown | $6,531,681 | Business Intelligence | -- | April 27, 2021 | |
| Sigo Seguros | Seed | $1,500,000 | InsurTech | Demeter Capital | April 27, 2021 | |
| Step | Series C | $100,000,000 | Digital Banking | General Catalyst | April 27, 2021 | |
| Zirtue | Seed | -- | Lending | Northwestern Mutual Future Ventures | April 27, 2021 | |
| Avibra | Series B | $7,184,997 | InsurTech | -- | April 28, 2021 | |
| Backer | Venture - Series Unknown | $8,400,000 | Wealth Management | Crosslink Capital | April 28, 2021 | |
| Drank | Seed | -- | Payments/Billing | Blue Heron Ventures | April 28, 2021 | |
| InterVal | Seed | $1,500,000 | Capital Markets | Scott Coffin | April 28, 2021 | |
| Splitwise | Series A | $20,000,000 | Payments/Billing | Insight Partners | April 28, 2021 | |
| Take Command Health | Series A | $12,000,000 | InsurTech | LiveOak Venture Partners | April 28, 2021 | |
| Templum | Venture - Series Unknown | $14,739,142 | Blockchain/Crypto | -- | April 28, 2021 | |
| Unifimoney | Seed | -- | Digital Banking | Global Millennial Capital | April 28, 2021 | |
| Wunderite | Seed | $3,000,000 | InsurTech | Spark Capital | April 28, 2021 | |
| Gr4vy | Series A | $11,100,000 | Payments/Billing | Nyca Partners | April 29, 2021 | |
| Hashflow | Seed | $3,200,000 | Blockchain/Crypto | Dragonfly Capital Partners | April 29, 2021 | |
| Keeper Tax | Series A | $13,000,000 | Business Intelligence | e.ventures | April 29, 2021 | |
| Lobus | Venture - Series Unknown | $6,000,000 | Wealth Management | 8VC | April 29, 2021 | |
| Notional Finance | Series A | $10,000,000 | Blockchain/Crypto | Pantera Capital | April 29, 2021 | |
| Paxos | Series D | $300,000,000 | Blockchain/Crypto | Oak HC/FT | April 29, 2021 | |
| AlphaFlow | Series A | -- | Wealth Management | Knockout Capital | May 1, 2021 | |
| fortu | Seed | $5,000,000 | Digital Banking | Valar Ventures | May 3, 2021 | |
| Boost Payment Solutions | Series C | $22,000,000 | Payments/Billing | Invictus Growth Partners | May 4, 2021 | |
| Fluence Technologies | Series A | $10,000,000 | Business Intelligence | Banneker Partners | May 4, 2021 | |
| Forge | Venture - Series Unknown | $150,000,000 | Wealth Management | Deutsche Borse | May 4, 2021 | |
| Goalswell | Seed | $1,500,000 | Personal Finance | OpenGate Capital | May 4, 2021 | |
| HoneyBook | Series D | $155,000,000 | Business Intelligence | Durable Capital Partners | May 4, 2021 | |
| LoanSnap | Series B | $30,000,000 | Lending | True Ventures | May 4, 2021 | |
| Persona | Series B | $50,000,000 | RegTech | Index Ventures | May 4, 2021 | |
APRIL 14TH REPORT:TOP FINTECH VENTURE ROUNDS
IN THE NEWS...
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 | |
MARCH 31ST REPORT:TOP FINTECH VENTURE ROUNDS
IN THE NEWS...
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 | |
MARCH 17TH REPORT:TOP FINTECH VENTURE ROUNDS
IN THE NEWS...
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 | |
MARCH 3RD REPORT:TOP FINTECH VENTURE ROUNDS
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 
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 |
Digital Experience Platform for Banks and Financial Institutions to fast track their digital journeys.Sub-sector: Core Technology HQ: Dublin, CA, USA |
InsureTech platform offering a SaaS medical claim management and financing platform all in one.Sub-sector: InsurTech HQ: Dubai, UAE |
Digital Financial Services For International Students.Sub-sector: Lending HQ: Hyderabad, India |
Replaces conventional card payment terminals.Sub-sector: Payments HQ: London, UK |
Neobank for the global diaspora.Sub-sector: Digital Banking HQ: London, England, GB |
Enables organizations to quickly verify and pay out funds to people in financial hardship.Sub-sector: Personal Finance HQ: London, England, GB |
Building relationships powered by equity investments.Sub-sector: Personal Finance/Capital Markets Venn HQ: Chicago, IL, USA |
Go beyond the paycheck for your team, with the best financial support available.Sub-sector: Personal Finance HQ: London, England, GB |
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 |
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 |
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 |
A CRM and fundraising platform for non-profits so that they can run their operations more effectively.Sub-sector: Payments HQ: Richmond, VA, USA |
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 |
Machine learning to produce the next generation of financial data for the bond market.Sub-sector: Capital Markets HQ: Toronto, ON, CA |
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 |
A platform for corporations to do Environmental, Social and Governance (ESG) reporting, data management and analytics.Sub-sector: Business Intelligence HQ: London, England, GB |
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 |
IN THE NEWS...
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 | |
FEBRUARY 17TH REPORT:TOP FINTECH VENTURE ROUNDS
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.
IN THE NEWS...
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 | |
FEBRUARY 2ND REPORT:TOP FINTECH VENTURE ROUNDS
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 | |
JANUARY 17TH REPORT:TOP FINTECH VENTURE ROUNDS
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 | |
JANUARY 3RD REPORT:TOP FINTECH VENTURE ROUNDS
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.
IN THE NEWS...
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 | |