One of the big questions about first quarter funding for Finovate alums over the past few years asked: which is the truer barometer of the fintech funding environment: the post-election parsimony of Q1 2017 or the billion+ investment rebound of Q1 2018?
We now have our answer: Alums in the first quarter of 2019 racked in more than $468 million in funding. This figure more than doubles the Q1 2017 total, and represents financings from 20 companies that have demoed at our conferences in the past (both Finovate and FinDEVr). Q1 2019 totals are less than that of the previous two first quarters in 2016 and 2015, but on a “per alum funded” basis this year’s first quarter is comparable to all but 2018’s historic start.
Previous Quarterly Comparisons
- Q1 2018: $1.32 billion raised by 26 alums
- Q1 2017: $230 million raised by 20 alums
- Q1 2016: $656 million raised by 32 alums
- Q1 2015: $680 million raised by 29 alums
Unlike some quarters in which overall totals are boosted by a single outsized investment (Credit Karma’s $500 million fundraising in Q1 of last year comes to mind), the first quarter investments for alums this year were in the moderate range. That said, adding up to $428 million, this quarter’s top 10 equity investments make up a sizable 91.5% of the quarter’s total funding.
Top 10 Equity Investments
- Stash: $65 million
- Tink: $63 million
- Coverhound: $58 million
- Nutmeg: $58 million
- Personal Capital: $50 million
- Mambu: $34 million
- Featurespace: $32.2 million
- Socure: $30 million
- SpyCloud: $21 million
- Zafin: $17.2 million
Here is our detailed alum funding report for Q1 2019.
January: More than $111 million raised by five alums
- Featurespace: $32.2 million – post
- LendingFront: $4 million – post
- LendUp: amount undisclosed – post
- Nutmeg: $58 million – post
- Zafin: $17.2 million – post
February: More than $276 million raised by nine alums
- Aire: $11 million – post
- Capitalise: $4.5 million – post
- Coverhound: $58 million – post
- DataSine: $5 million – post
- Mambu: $34 million – post
- Personal Capital: $50 million – post
- Socure: $30 million – post
- SpyCloud: $21 million – post
- Tink: $63 million – post
March: More than $81 million raised by six alums
- 24sessions: $1.1 million – post
- GreenKey Technologies: amount undisclosed – post
- Stash: $65 million – post
- Thinknum: $11.6 million – post
- TurnKey Lender: amount undisclosed – post
- YellowDog: $3.3 million – post
If you are a Finovate alum that raised money in the first quarter of 2019 and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.
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