FINTECH VENTURE DEALS2020

FINTECH FUNDING NEWS

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

JULY 3RD
REPORT

As we close the books on Q2 (the quarter not banking platform) it’s no surprise that VCs were social distancing themselves from deals. As many funding rounds aren’t immediately public the early data is only a proxy, but at the moment we’re looking down 25% vs Q1 and off almost 100% YoY! But nom nom nom – FinTech continues to eat the world, says Alex Lazarow at Forbes. With over 30 funding rounds reported this week, we believe Alex.

We begin with the California-based eCommerce solution Scalefast and a $22M Series B raise to turbocharge the direct-to-consumer space. Next, Karat’s $4.6M seed is helping to launch this novel digital bank building “the black card for creators”. This bank skips traditional credit scores, basing the application and rates on total social media followers. For those brave explorers in decentralized finance (DeFi) waters, Opyn ($2.2M seed) is building a crypto-insurance marketplace to help crush risk – kapow!

InsurTech continues to dominate. Atlanta-based Layr garnered $5.25M to continue leveraging machine learning to help businesses get the right insurance at the right price. Boston-based InsurTech venture Openly received $15M Series A to provide lighting-fast home insurance quotes.

Speaking of lighting, our very own lighting round: Cedar $77M Series C to simplify healthcare payments; AgencyKPI $5M Series A to grow the insurance business intelligence platform; DigniFi $14M Series A to further build the FinTech marketplace servicing automotive repairs; Spiff $10M Series A to bring in the new age of commission software.

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NORTH AMERICA ONLY

US FINTECH ECOSYSTEM IN 2020

LEADING SECTORS BY STATE

CALIFORNIA

  • Payments/Billing (15.29%%)
  • Blockchain/Crypto (10.66%)
  • InsurTech (10.46%)

NEW YORK

  • Wealth Management (12.22%)
  • InsurTech (11.11%)
  • Capital Markets (10.00%)

MASSACHUSETTS

  • InsurTech (23.44%)
  • Personal Finance (12.50%)
  • Capital Markets (10.94%)

HOW TRENDS ARE EVOLVING [YTD 2020 vs 2019]

2019YTD 2020Variation
Mortgage/Real estate6.06% (66)11.49% (40)5.43% ▲
Personal Finance8.91% (97)11.49% (40)2.59% ▲
Digital Banking9.18% (100)5.46% (19)-3.72% ▼
Lending7.53% (82)4.31% (15)-3.22% ▼
Business Intelligence6.34% (69)3.45% (12)-2.89% ▼

RECENT DEALS

Period: 06/19/2020 - 07/02/2020

NameFunding TypeMoney RaisedVerticalLead InvestorHeadquartersAnnounced
Source: Crunchbase. Data is current as of July 2, 2020
RenoFiSeed$750,000Mortgage/Real estateFirst Round CapitalPhiladelphia, Pennsylvania, United StatesJune 23, 2020
CedarSeries C$77,000,000Payments/BillingAndreessen HorowitzNew York, New York, United StatesJune 22, 2020
CrossTowerSeed$6,000,000Capital MarketsGerard LopezJersey City, New Jersey, United StatesJune 22, 2020
OpynSeed$2,160,000Blockchain/CryptoDragonfly Capital PartnersSan Francisco, California, United StatesJune 22, 2020
FinliSeed$125,000Payments/BillingFinancial Solutions LabLos Angeles, California, United StatesJune 22, 2020
Summer​Seed$125,000LendingFinancial Solutions LabNew York, New York, United StatesJune 22, 2020
Climb CreditSeed$125,000LendingFinancial Solutions LabNew York, New York, United StatesJune 22, 2020
Even.comSeries C--Personal FinanceFounders FundOakland, California, United StatesJune 18, 2020
Pagaya InvestmentsSeries D$102,000,000Wealth ManagementGICNew York, New York, United StatesJune 17, 2020
Capital Markets GatewaySeries B$25,000,000Business IntelligenceGoldman SachsChicago, Illinois, United StatesJune 25, 2020
KaratSeed$4,600,000Digital Banking--San Francisco, California, United StatesJune 25, 2020
AVA LabsInitial Coin Offering$12,000,000Blockchain/CryptoNGC VenturesBrooklyn, New York, United StatesJune 25, 2020
TernioEquity Crowdfunding$1,070,000Blockchain/Crypto--Alpharetta, Georgia, United StatesJune 25, 2020
Zeehaus Inc.Venture - Series Unknown--Capital MarketsMeyer EquitySan Francisco, California, United StatesJune 25, 2020
ScalefastSeries B$22,000,000Payments/BillingFJ LabsEl Segundo, California, United StatesJune 30, 2020
DigniFiSeries A$14,000,000Capital MarketsBuildGroupKirkland, Washington, United StatesJune 30, 2020
WillaSeed$3,000,000Payments/BillingEQT VenturesVenice, California, United StatesJune 30, 2020
AgencyKPISeries A$5,000,000Business IntelligenceEMC InsuranceAustin, Texas, United StatesJune 30, 2020
Just Auto InsuranceSeed$5,700,000InsurTechManchesterStory GroupLos Angeles, California, United StatesJune 30, 2020
OppJarSeed--Personal Finance--Los Angeles, California, United StatesJuly 1, 2020
PushStashSeed$25,000Wealth Management--Dallas, Texas, United StatesJuly 1, 2020
Xion GlobalSeed--Payments/Billing--Lewes, Delaware, United StatesJuly 1, 2020
LayrSeed$5,250,000InsurTechSandbox Insurtech VenturesAtlanta, Georgia, United StatesJuly 1, 2020
MainStreetSeed$2,300,000RegTechGradient VenturesSan Jose, California, United StatesJune 15, 2020
FluzVenture - Series Unknown--Payments/BillingMeyer EquityNew York, New York, United StatesJune 16, 2020
PipeSeed$10,000,000Core TechnologyFin Venture CapitalLos Angeles, California, United StatesJune 24, 2020
Derivative Path, Inc.Venture - Series Unknown$35,000,000Capital MarketsFTV CapitalWalnut Creek, California, United StatesJune 24, 2020
VeloxSeed$2,500,000Capital MarketsETFS CapitalNew York, New York, United StatesJune 24, 2020
OpenlySeries A$15,000,000InsurTechObvious VenturesBoston, Massachusetts, United StatesJune 24, 2020
NexbenFunding Round$5,059,678InsurTech--Minneapolis, Minnesota, United StatesJune 24, 2020
SpiffSeries A$10,000,000Core TechnologyAlbum VCSandy, Utah, United StatesJune 26, 2020
neo.taxSeed$3,000,000LendingUncork CapitalCalifornia, Kentucky, United StatesJune 30, 2020
FINBOASeed--RegTech--Houston, Texas, United StatesJuly 1, 2020
Point CardSeries A$10,500,000Digital BankingValar VenturesSan Francisco, California, United StatesJuly 1, 2020

PREVIOUS REPORTS

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Disruptors to maximum – FinTech is back in business and ready to transform the galaxy. Read on as we alight on a few of the 20 firms expanding horizons.

We begin with Boston-based towerIQ, a SaaS startup targeting insurance market transparency. The team locked in $4.5M from, arguably, the best-named VC firms: General Catalyst, Hyperplane VC, and Recharge Capital, among others. Next, we have wealth management firm UNest, which uses a mobile app to democratize the management of college savings plans for kiddos – now on Android and iOS. Our science friends in the audience will enjoy this reference: Planck. The company was awarded  $16M Series B to help “underwrite any business”.

Knock, knock. Who’s there? EasyKnock and a $20M Series B. Tech makes it easy to sell your home and/or lease it back to yourself. Next, an upgrade. Not a joke upgrade (or actually...) but a $40M Series D from SF-based neobank Upgrade. Over to cyber/fraud seed startup Unum ID “sharifying” ID with a virtual ID card and $2M to do it – brought to you by VC firm (Don) Draper Associates. Last up, personal finance Pando and $8.5M. Pool your resources to minimize the risk of high-volatility careers.

RECENT DEALS

Period: 06/04/2020 - 06/18/2020

Name Funding Type Money Raised Vertical Lead Investor Announced
Source: Crunchbase. Data is current as of June 18, 2020
Botkeeper Series B $25,000,000 Core Technology High Alpha June 18, 2020
River Financial Seed $5,700,000 Blockchain/Crypto Polychain June 17, 2020
Upgrade Series D $40,000,000 Digital Banking Santander InnoVentures June 17, 2020
Unum ID Seed $2,000,000 Cyber/Fraud Draper Associates June 17, 2020
EasyKnock Series B $20,000,000 Mortgage/Real estate Blumberg Capital June 16, 2020
Chipper Cash Series A $13,800,000 Money Transfer/Remittances Deciens Capital June 16, 2020
Brightside Series A $35,100,000 Personal Finance Andreessen Horowitz June 16, 2020
UNest Series A $9,000,000 Wealth Management Anthos Capital June 16, 2020
Dovly Seed $2,000,000 Personal Finance NFX June 16, 2020
Genie Pre-Seed $250,000 Personal Finance -- June 12, 2020
Haus Series A $15,750,000 Mortgage/Real estate BlueRun Ventures June 11, 2020
Origin Venture - Series Unknown $12,000,000 InsurTech Felicis Ventures June 11, 2020
Planck Series B $16,000,000 InsurTech Team8 Capital June 10, 2020
M1 Finance Series B $33,000,000 Wealth Management Left Lane Capital June 9, 2020
NYMBUS Venture - Series Unknown $12,000,000 Core Technology Insight Partners June 9, 2020
Pando Series A $8,500,000 Personal Finance Core Innovation Capital June 9, 2020
Xomi, Inc. (d/b/a Chargeback) Series A $6,600,000 Cyber/Fraud FINTOP Capital June 8, 2020
Wahed Invest Venture - Series Unknown $25,000,000 Wealth Management Saudi Aramco Entrepreneurship Ventures June 8, 2020
towerIQ Series A $4,500,000 Capital Markets General Catalyst June 8, 2020
taxProper Seed $2,000,000 Mortgage/Real estate Khosla Ventures June 6, 2020

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While they weren’t signed with a handshake, a number of interesting seed-stage companies secured new capital this week starting off a handful of Techstars-accelerated new entrants.

Propagate Ventures, landed a $1.5M seed to bring investment to agroforestry. They are followed by Curu, scoring $3M to help credit applicants avoided the dreaded “your credit application has been rejected”.

Onto the larger checks. Making waves is Splash Financial with $12.3M aiming to counter the $1.6T tsunami of student loan debt headed our way. Next up is Stackin with a $12.6M raise and a dream to make personalized financial education services available to everyone via text – :). B2B payment and credit network Fundbox locked in a $20M round-two Series C. Snagging a $27M slice of the funding pie (and a cool $100M in equity financing on top) is Pie Insurance. This D.C.-based startup provides workers’ comp insurance to small businesses. Last but not least is SF-based mobile banking company Varo Money. The bank-chartered FinTech with a monster $241M raise, funded by a veritable cast of characters: Bono, billionaire movie producer Jeff Skoll, and Progressive Insurance.

RECENT DEALS

Period: 05/22/2020 - 06/4/2020

Name Funding Type Money Raised Vertical Lead Investor Announced
Source: Crunchbase. Data is current as of June 4, 2020
Curu Seed $3,000,000 Personal Finance Vestigo Ventures May 22, 2020
Fundbox Series C $20,000,000 Payments/Billing MUFG Innovation Partners May 26, 2020
Splash Financial Series A $12,300,000 Personal Finance CMFG Ventures May 26, 2020
Pie Insurance Series B $27,000,000 Insurtech Aspect Ventures May 28, 2020
LaterPay Venture - Series Unknown $10,000,000 Payments/Billing -- May 28, 2020
Stackin' Series B $12,600,000 Personal Finance Octopus Ventures May 28, 2020
Propagate Ventures Seed $1,500,000 Business Intelligence Neglected Climate Opportunities May 29, 2020
Rentberry Equity Crowdfunding -- Mortgage/Real Estate Bay Wharf Capital May 29, 2020
Teiqui Pre-Seed -- Regtech -- May 30, 2020
Spaced Ventures Pre-Seed $150,000 Capital Markets -- June 1, 2020
Ubitquity LLC Pre-Seed $50,000 Mortgage/Real Estate -- June 1, 2020
Nesto Venture - Series Unknown $11,500,000 Mortgage/Real Estate Diagram Ventures June 2, 2020
Numerai Initial Coin Offering $3,000,000 Blockchain/Crypto CoinFund June 3, 2020
The Small Exchange Seed $4,000,000 Capital Markets PhillipCapital June 3, 2020
Betterview Series B $7,500,000 Core Technology ManchesterStory Group June 3, 2020
Varo Money Series D $241,000,000 Digital Banking Gallatin Point Capital June 3, 2020
Lili Seed $10,000,000 Digital Banking Group 11 June 3, 2020

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FinTech funding has roared back to life this week with a slew of funding rounds. To kick off the week we have four late-stage funding raises: Carta, Brex, States Title, and Coalition for a whopping $543M combined. Next up: early-stage.

We begin with a tribute to the 70s supergroup ABBA – two Series As and two Bs. Our first is AI-powered Deep Labs, signing $16M to work some tech magic with “persona-based risk systems”. AI continues its forward march with Symend, who contracted $52M to help at-risk customers keep from defaulting on debt with sweet behavioral analytics. LoanSnap inked $10M, and won the investor lottery: Richard Branson and an ex-NFL quarterback star chipped in. Our final letter is Vise, completing the trifecta with $14.5M underwritten for AI-driven portfolio management.

With our blast from the past completed, on to the rest. The construction industry gets a boost with Briq’s $10M Series A. School fundraising meets FinTech with MemberHub’s, landing $7.5M to turbocharge PTAs. SF-based Stilt had its first seed round, locking in $7.5M to help people with little to no credit history get started. NYC-based Lolli is a rewards app offering shoppers bitcoin for purchases, now backed by Ashton Kutcher and Michelle Phan to the tune of $3M.

RECENT DEALS

Period: 05/07/2020 - 05/21/2020

Name Funding Type Money Raised Vertical Lead Investor Announced
Source: Crunchbase. Data is current as of May 21, 2020
Coinme Venture - Series Unknown $5,500,000 Blockchain/Crypto Pantera Capital May 7, 2020
STILT Seed $7,500,000 Lending -- May 7, 2020
Symend Series B $52,000,000 Payments/Billing Inovia Capital May 7, 2020
MemberHub Series A $3,300,000 Payments/Billing AIM Group May 8, 2020
Carta Series F $180,000,000 Capital Markets Lightspeed Venture Partners May 10, 2020
Hemista Pre-Seed $300,000 Wealth Management -- May 10, 2020
Briq Series A $10,000,000 Business Intelligence Blackhorn Ventures May 11, 2020
Clyde Series A $14,000,000 InsurTech Spark Capital May 11, 2020
Lolli Seed $3,000,000 Personal Finance Pathfinder May 11, 2020
Fenris Seed InsurTech CIT GAP Funds May 12, 2020
Gravy Convertible Note $1,400,000 Payments/Billing -- May 12, 2020
Vise Series A $14,500,000 Wealth Management Sequoia Capital May 12, 2020
Charityvest Pre-Seed $1,100,000 Personal Finance -- May 13, 2020
FalconX Venture - Series Unknown $17,000,000 Wealth Management -- May 13, 2020
LeverageRx Convertible Note $625,000 InsurTech Invest Nebraska May 13, 2020
Deep Labs Series A $16,000,000 Cyber/Fraud Gunnar Overstrom, Serendipity Capital, The Gramercy Fund May 14, 2020
Homeward Venture - Series Unknown $20,000,000 Mortgage/Real estate Adams Street Partners May 14, 2020
LoanSnap Series B $10,000,000 Lending MANTIS Venture Capital, True Ventures May 14, 2020
Levelfield Seed Digital Banking -- May 15, 2020
Trust Stamp Series A $1,248,000 Core Technology OnRamp Insurance Accelerator May 18, 2020
Brex Series C $150,000,000 Payments/Billing DST Global May 19, 2020
Unifimoney Pre-Seed $1,000,000 Digital Banking -- May 19, 2020
Coalition Series C $90,000,000 InsurTech Valor Equity Partners May 20, 2020
Human Interest Series C+ $10,000,000 Glynn Capital Management May 20, 2020
TokenSoft Venture - Series Unknown $4,000,000 Capital Markets -- May 20, 2020
Deel Series A $14,000,000 Payments/Billing -- May 21, 2020
States Title Series C $123,000,000 InsurTech Greenspring Associates May 21, 2020
Aspiration Series C $135000000 Digital Banking Alpha Edison May 21, 2020
Spruce Holdings Series B $29000000 Real estate Scale Venture Partners May 21, 2020
CLARA analytics Series B $25000000 InsurTech Aspen Capital Group May 21, 2020
All of Us Seed $3500000 Capital Markets -- May 21, 2020
NEER Pre-Seed $100000 Core Technology gener8tor May 21, 2020

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We begin this week with a special Zen moment. Everyone pause, take a deep breath – meow on to the list! Six first-rate FinTech firms confirmed funding for a total just shy of $30M. Here’s a thematic overview: banking automation, ai-investing, insurance, challenger banking, and e-commerce. There’s a little something for everyone.

SF-based API-focused startup Treasury Prime locked away $9M in Series A funding. This cash infusion will enable the company to invest in a go-to-market team who can reach more banks in need of routine task automation. Our international funding round this week goes to Toronto-based Boosted.ai, fusing investment manager and machine. The company downloaded an $8M Series A to distribute its “first-to-market artificial intelligence platform for investment professionals”.

Three seed rounds round out the middle of our pack today. NYC-based tech-driven Covered by Sage confirmed $6M to expand property and casualty insurance operations. San Mateo-based banking and payment services firm Wise landed $5.7M to enlighten the challenger banking world. E-commerce platform Boost garnered $1M to kick off #revolutionary shoppable hashtags. We end with a pre-seed: Vida Life is getting into the game to provide insurance products to the U.S Hispanic community.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 04/24/2020 - 05/07/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $9,000,000 Amias Gerety May 5, 2020

Series A $8,000,000 Portag3 Ventures May 5, 2020

Seed $6,000,000 NFX Apr 28, 2020

Seed $5,700,000 Base10 Partners Apr 29, 2020

Seed $1,000,000 -- May 1, 2020

Pre-Seed -- Sagicor Apr 30, 2020

Source: Crunchbase

Fintech Venture Funding April 24th 2020

Despite the one-two punch of COVID-19 and the Q1 investment dip, entrepreneurs and investors continue to rally. Our funding round this week hosts many exemplary startups as hungry as ever. We begin with three Series A funding rounds.

SF-based OpenInvest landed $10.5M for a strategic A1 investing round. This tech-enabled asset management powerhouse garnered two sweet accolades in March: Fast Company’s Most Innovative Company 2020 and Best Retail Investment Platform. Please: a round of applause. SLC-based employee payroll platform Everee ever-delights with a $10M raise. This round follows hot on the heels of a mid-2019 $3.7M seed. DC-based Savi continues to build the path to student loan freedom with a $6M snag. Inc Magazine featured this savvy startup in 44th place on the “50 World-Changing Startups to Watch in 2019”. Watch out.

These soon-to-be spriggy seeds grew a combined $13.9M. AceTrader tops the list bringing real estate crowdfunding to the wide-world of agricultural land ownership. Trovata (not the clothing brand) uses open banking to automate financial data – take me to your banking leader. Atomic Loans knows crypto is still strong, and crypto loans with no intermediaries means bank. Benepass provides benefit cards for SMBs; Set Labs is a crypto-wizard financial platform. Whew!

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 04/10/2020 - 04/23/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $10,400,000 QED Investors Apr 16, 2020

Series A $10,000,000 Origin Ventures Apr 16, 2020

Series A $6,000,000 Nyca Partners Apr 14, 2020

Seed $5,000,000 RZC Investments Apr 10, 2020

Seed $4,300,000 JP Morgan Apr 21, 2020

Seed $2,450,000 Initialized Capital Apr 14, 2020

Seed $2,150,000 -- Apr 20, 2020

Seed -- -- Apr 18, 2020

Source: Crunchbase

FinTech Venture Funding

FinTech funding in the time of Coronavirus – who will survive and who will thrive?

Chicago-based Arturo departed the nest of parent company American Family Insurance in 2018. It’s mission: combine AI and aerial imagery to scan down and assess commercial property risk. An $8M Series A will power the firm’s expansion into North America and the Asia Pacific. RoadSync, based in Atlanta, picked up $5.7M to truck in more digital payment improvements for the transportation industry.

Six seed rounds round out our week. By order of appearance, we begin with Sila, whose teamwork is making the dream of effortless digital payments work. Shout out to Shamir Karkal, Co-founder, CEO, and close friend of Empire Startups!

Stepping up next is, Cadence, who was awarded funds to the tune of $4M to unlock alternative high yield investments. Our next two seed rounds have made education a priority. The Wealth Factory is on a +$1M mission to educate future FinTech leaders in the art of money management. Parents can join too! Savology banked $750k to help adults level up their financial planning. In the undeclared territory is investment management firm Wilshire Phoenix and P2P FinTech digital asset network DeFiner.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 03/27/2020 - 04/09/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $8,000,000 Crosslink Capital Apr 7, 2020

Seed $7,700,000 Madrona Venture Group Apr 8, 2020

Series A $5,700,000 Base10 Partners Mar 31, 2020

Seed $4,000,000 Revel Partners Apr 7, 2020

Seed $3,800,000 -- Apr 9, 2020

Seed $1,000,000 -- Apr 5, 2020

Seed $750,000 -- Apr 2, 2020

Seed -- -- Apr 2, 2020

Seed -- -- Apr 1, 2020

Source: Crunchbase

https://empirestartups.com/wp-content/uploads/2020/04/facebook_funding_mar_27_2020-300x200.jpg

FinTech funding slowed to a trickle this week in the wake of the economic uncertainty roiling the markets. Have no fear: FinTech is here, and here to stay. We all know the bad news so let’s focus on the good!

We begin with two Series A startups: One and Coterie. The SF-based digital bank One banked a $17M Series A. Still in early launch mode, this digital contender is riding the wave of support for online-only banks. API-based commercial insurance provider Coterie inked an $8.5M Series A deal. This InsurTech startup uses APIs to act as an intermediary for providers, customers, and even freelancers.

Three startup companies join us for seed round funding this week: ZeFi, Trimwire, and WealthyPlanet. ZeFi is an Ethereum-powered high-yield savings account for USD and virtual currencies. The company grew out of the 2020 Y Combinator startup field. Trimwire is another 2020 Y Combinator startup that “builds spend management software for startups to maximize their runway”. Both ZeFi and Trimwire landed $150,000 in seed round funding. Last up is Ontario-based WealthyPlanet, offering financial planning for Canadians. The company offers to make you a financial planning rock star for the ultra-low-cost of free. Hurrah!

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 03/13/2020 - 03/26/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $17,000,000 Foundation Capital Mar 17, 2020

Series A $8,500,000 RPM Ventures Mar 20, 2020

Seed $150,000 -- Mar 16, 2020

Seed $150,000 Y Combinator Mar 16, 2020

Seed -- Mercanti Management Mar 16, 2020

Source: Crunchbase

FinTech Venture Funding Report Mar 13

Our first drop-in this week is the all-in-one spend management platform Airbase. The SF-based company raked in a $23.5M Series A extension, led by private equity firm Bain Capital, and is aiming at a second-year ARR 4x.

Next up is NorthOne, America’s SME challenger bank entering the ring with a $21M Series A – and the crowd chants: Rocky, Rocky, Rocky! Not to be outdone is mobile-banking startup Empower raising $20M. Founded by former Sequoia Capital partner Warren Hogarth, the company boasts 600,000 active users in just over 3 years. Out for the greater good is Welcome Technologies, a fintech platform connecting global immigrants with products and services. This certified B-corporation banked an $8M Series A.

Texas-based crypto-focused Zabo is using its $2.5M Seed to link financial service companies and cryptocurrency wallets. Vancouver-based IOT Pay garnered a $1M Seed round. The company recently helped local Canadian supermarkets offer mobile payment solutions, such as Alipay and WeChat Pay. For those on-the-go, the Xaggo mobile app lets you pay international bills from anywhere in the world. The company recently netted a $240,000 Seed. Last but not least is DeFiner, a decentralized financial institution wishing a farewell to the intermediaries of loans, savings, payments, and other investments.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 02/28/2020 - 03/12/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $23,500,000 Bain Capital Ventures Mar 5, 2020

Series A $21,000,000 Battery Ventures Mar 10, 2020

Series A $20,000,000 Defy Ventures Mar 5, 2020

Series A $8,000,000 Crosscut Ventures Mar 3, 2020

Series A $8,000,000 EFM Asset Management Mar 3, 2020

Seed $2,500,000 Moonshots Capital Mar 5, 2020

Seed $1,000,000 CentreGold Capital Mar 6, 2020

Seed $240,000 SUR LLC Mar 3, 2020

Seed -- -- Mar 1, 2020

Source: Crunchbase

FinTech Venture Funding Report Feb 28

2019 brought in a slew of new FinTech unicorns – 24 to be exact, reports Tech Crunch. Get out your crystal ball to divine which one of the many up-and-coming startups this week will break the bank.

We begin with a Series A $10M two-for-one: Ordway, a billing and revenue automation platform, and Reggora, an all-in-one mortgage lender appraisal platform. Helping to transform and streamline pricing transparency in healthcare is Santa Monica-based Anagram. Formerly Patch, the company recently rearranged into its new name along with a $9M Series A.

Taking a turn towards a few select seed rounds, we have Pipe, Alkymi, and DigitalPay. First: LA-based Pipe offers SaaS companies a pipeline for converting MRR into ARR. Next: NYC-based Alkymi automates email data extraction through machine learning. Last: SF-based DigitalPay (formerly known as Sipree) enables companies to expedite digital payouts to payees.

This week we conclude with Talage, Aiera, and QRails. InsurTech startup Talage drew in a $5M Series A to “power the digital distribution of commercial property and casualty insurance”. AI-driven Aiera landed a $7M Series A to empower fundamental investing strategies – monitor public earnings calls and more. QRails (who acquired Rete+Pay in 2019) grabbed an $8M Series A to help financial institutions “deploy innovative digital payment solutions.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 02/14/2020 - 02/27/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $10,000,000 CRV Feb 19, 2020

Series A $10,000,000 Spark Capital Feb 12, 2020

Series A $9,100,000 -- Feb 28, 2020

Series A $8,600,000 Accomplice Feb 14, 2020

Series A $8,500,000 Santander InnoVentures Feb 19, 2020

Series A $8,000,000 Point72 Ventures Feb 25, 2020

Series A $8,000,000 -- Mar 3, 2020

Series A $7,000,000 Fin Venture Capital Feb 12, 2020

Seed $6,000,000 Craft Ventures Feb 25, 2020

Series A $5,000,000 Merus Capital Feb 13, 2020

Seed $5,000,000 Canaan Partners Feb 26, 2020

Seed $3,000,000 -- Feb 19, 2020

Seed CA$3,000,000 -- Feb 19, 2020

Seed $2,000,000 -- Feb 25, 2020

Seed $1,200,000 Temerity Capital Partners Feb 12, 2020

Series A -- -- Feb 25, 2020

Seed -- -- Feb 26, 2020

Source: Crunchbase

FinTech Venture Funding Report Feb 14

We’re starting our month of fintech love with Cherre. Founded four years ago, the companies most-recent funding round was led by Intel Capital raising $16M. What is this NYC-based real estate data analytics machine going to do with this cash infusion? Serve up the $50T real estate investing and underwriting market with a cherry on top. Seconds anyone?

Tinkering away in the global financial settlements system is Transparent Systems. A $14M Series A boosts this crypto-settlements solution convinced “money is the slowest technology to evolve”. Also looking for a leg up with a gemini Series A is Boost Insurance – insurtech is making insurance sexy.

Our international mention this week comes in the form of Mexico City-based Stori Card, offering inclusive digital financial services to Latin America after a $10M raise. Next-gen real estate guru Houwzer is growing the D.C. team after its $9.5M Series A. Buzzing around your nearest startup is EquityBee and a $6.6M raise to help founding employees cash in.

Our holiday wouldn’t be complete without an assortment of seed ventures. MoCaFi offers low-cost financial services to underserved communities; Obie streamlines commercial real estate management; Goodcover is slashing insurance costs across the board.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 01/30/2020 - 02/13/2020

Name Funding Type Money Raised Lead Investor Announced

Series A $16,000,000 Carthona Capital Feb 5, 2020

Series A $14,000,000 Future Perfect Ventures Feb 5, 2020

Series A $14,000,000 Coatue Management Feb 5, 2020

Series A $10,000,000 Bertelsmann Asia Feb 4, 2020

Series A $9,500,000 Admiral Capital Group Feb 5, 2020

Series A $6,600,000 AltaIR Capital Feb 11, 2020

Seed $3,500,000 Capital Access Holdings Feb 5, 2020

Seed $2,800,000 FundersClub Feb 4, 2020

Seed $2,000,000 Fuel Capital Feb 6, 2020

Seed $100,000 SeedInvest Feb 4, 2020

Series A -- Global Brain Corporation Feb 5, 2020

Series A -- Hamilton Lane Feb 6, 2020

Seed -- General Atlantic Feb 9, 2020

Pre-Seed -- Robert Smithson Feb 4, 2020

Source: Crunchbase

FinTech Venture Funding Report Jan 31

Where we all hope fintech is headed: Visa acquiring Plaid for $5.3B and Stripe over $20B. Buckle up.

On the other side of the fintech funding coin are two Series As. SF-based Aumni cashed in $10M to free VC data and analytics from its human mind confines – more data! Sneaky NYC-based Forwardlane garnered an undisclosed amount to continue doing “mind-boggling” things with AI and wealth management.

63.63% of our list this week are seeds, soon to be saplings. First up, Gentem and its platform to help physicians get instant reimbursements and pay off the mountains of medical school debt. Knox Financial helps customers convert their home into a passive income money machine. Rapidly wants to completely virtualize tax and accounting practices.

Representing our northern neighbor is Montréal-based Lexop. Fintech meets debt collection to “remove friction from collections”. Similarly based is Contxtful technologies, harvesting eyeballs with its receptivity score. Returning home from our Canadian sojourn is U-Nest – the app that lets you bank for your child’s college fund. TomoCredit smashes through the no-credit-history barrier by analyzing alternative data sources. Last but not least, Kurtosys serves up an end-to-end digital platform for financial service organizations.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 01/17/2020 - 01/30/2020

Name Funding Type Money Raised Lead Investor Announced

Series F $240,000,000 -- Jan 14, 2020

Series A $10,000,000 SVB Financial Group Jan 28, 2020

Seed $3,700,000 Susa Ventures Jan 15, 2020

Seed $3,000,000 Greycroft Jan 27, 2020

Seed $1,840,000 -- Feb 1, 2020

Seed $1,800,000 Anges Quebec Jan 28, 2020

Seed CA$2,000,000 -- Jan 29, 2020

Seed $1,500,000 -- Jan 15, 2020

Pre-Seed -- -- Jan 20, 2020

Series A -- -- Jan 23, 2020

Series D -- Vistara Capital Partners Jan 23, 2020

Source: Crunchbase

FinTech Venture Funding Report Jan 17

Welcome to 2020 and a new decade of fantastic fintech funding. First up for the new year is Securrency, pioneer of blockchain-based financial and regulatory market infrastructure. Watch out – the tokenization of the financial world is underway. The firm locked in $17.6M worth of Series A, led by WisdomTree Investments.

Our next big spender is Locale with an $11M Series A. Billed as an upscale short- and long-term accommodations for the discerning traveler. Get your home-away-from-home on, resort-style pool included. A unique stand out from the group is TypingDNA, which uses AI and biometrics to recognize people by how they type. This NYC-based big brother just cashed in $7M in Series A from Gradient Ventures.

We don’t have much space left, so a quick seed lightning round: Edquity is a special financial planning app for students; Collbox somehow blends ethical cloud-based debt collection; Dottid promises seamless SaaS leasing options for commercial real estate; Balance is the digital Fort Knox for the crypto world; Fundraise Up supercharges online donations with human-centered brilliance.

We’ll end with our solo pre-seed, Savvy. NYC folks are about to get faster, smarter, better tenant screening with this new-comer.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 01/03/2020 - 01/16/2020

Name Funding Type Money Raised Lead Investor Announced

Series C $50,000,000 OMERS Ventures Jan 3, 2020

Series D $50,000,000 SVB Capital Jan 8, 2020

Series C $27,000,000 Cox Enterprises Jan 9, 2020

Series A $17,600,000 WisdomTree Jan 8, 2020

Series A $11,000,000 Amplo Jan 13, 2020

Series A $7,000,000 Gradient Ventures Jan 4, 2020

Series A $5,400,000 Switch Ventures Jan 8, 2020

Seed $4,000,000 First Round Capital Jan 7, 2020

Seed $3,850,000 -- Jan 13, 2020

Seed $2,400,000 ECMC Foundation Jan 6, 2020

Pre-Seed $1,600,000 Amnis Ventures Jan 7, 2020

Seed $1,250,000 Splash Capital Jan 9, 2020

Seed CA$1,500,000 Fonds Innovexport Jan 20, 2020

Seed $1,000,000 Bala Investments Jan 2, 2020

Pre-Seed $150,000 Antler Jan 3, 2020

Seed $30,000 -- Jan 9, 2020

Seed $30,000 -- Jan 9, 2020

Seed -- -- Jan 6, 2020

Seed -- -- Jan 1, 2020

Seed -- -- Jan 2, 2020

Source: Crunchbase

FinTech Venture Funding Report Jan 3

2019 had one last hurrah with a fintech funding round bonanza. Our list this week tops out at 13 companies you won’t want to miss. First up is Huckleberry, taking in $18M of Series A from Tribe Capital. The company offers easy online insurance for small businesses, which means that Huckleberry can say Doc’s famous line: “I’m your huckleberry.”

Next, we have Modern Treasury, a recent Y Combinator graduate, automating the business cycle of money movement with some modern tech wizardry. They banked a $10M Series A to continue scaling the business. Keep an eye on Trust & Will, an online estate planning venture underwritten to the tune of $6M in Series A funding. The firm has snappy marketing efforts led by a young whippersnapper you won’t forget. Slinking around at the bottom of our list is insurech firm REIN, committed to building digital insurance products.

For our seeds this week, cross-border payment startup Chipper Cash garnered its second funding of 2019. Leaping into the fray is Leapfin, a unified data platform for actionable (and delectable) financials. Last – and also lurking at the bottom – is Tassat, a blockchain-based powerup for frictionless asset transfer and crypto derivatives.

IN THE NEWS...

ALL RECENT FUNDING ROUNDS

Period: 12/13/2019 - 01/02/2020

Name Funding Type Money Raised Lead Investor Announced

Series D $635,000,000 New Enterprise Associates Dec 17, 2019

Series C $200,000,000 Tetragon Financial Group Dec 20, 2019

Series C $30,000,000 Horizons Ventures Dec 20, 2019

Series C $22,000,000 -- Dec 18, 2019

Series A $18,000,000 Tribe Capital Dec 18, 2019

Series A $10,000,000 Benchmark Dec 19, 2019

Seed $6,000,000 Deciens Capital Dec 16, 2019

Series A $6,000,000 Link Ventures Dec 17, 2019

Seed $4,500,000 Bowery Capital Dec 20, 2019

Seed $4,200,000 Bienville Capital Dec 20, 2019

Seed $3,400,000 Vestigo Ventures Dec 17, 2019

Series A -- Volvo Financial Services Dec 21, 2019

Seed -- -- Dec 16, 2019

Source: Crunchbase