*Update: 10/10/2017. Bill.com disclosed today the amount of its September funding at $100 million. This takes our September 2017 funding total to more than $187 million, and puts Bill.com in our “top ten” fundings for the quarter, as well. The total raised for Q3 2017 now stands at $1.13 billion.
In reeling in more than $1 billion in funding over the months of July, August, and September, Finovate alums in the third quarter of 2017 raised more than twice as much in equity capital compared to Q3 2016. This happened with the number of alums funded in both Q3 2015 and Q3 2016 – 31 versus 30 – being virtually the same. In this regard, the third quarter of this year was even more impressive than the $1 billion raised by 40 alums in 2015. For all the concerns over the slow start to funding this year, it appears the world’s fintech investors are more than making up for lost time.
Previous Quarterly Comparisons
- Q3 2016: $500 million raised by 30 alums
- Q3 2015: $1 billion raised by 40 alums
- Q3 2014: $194 million raised by 17 alums
The biggest deals of the third quarter this year were the $250 million raised by Kabbage and the $225 million raised by Klarna. Also impressive were the pair of $100 million fundraisings by Blend and Coinbase, as well as the $70 million investment in Betterment that edges the company that much closer to unicorn status. The top 10 equity investments totaled more than $922 million or more than 89% of the quarter’s total alum funding.
Top 10 Equity Investments (equity only)
- Kabbage: $250 million
- Klarna: $225 million
- Blend: $100 million
- Coinbase: $100 million
- Betterment: $70 million
- Prosper: $50 million
- Juvo: $40 million
- Personal Capital: $40 million
- Stockpile: $30 million
- Karmic Labs: $17.2 million
Here is our detailed alum funding report for Q3 2017.
July 2017: More than $374 million raised by 15 alums
- Aire: $5 million – post
- AutoGravity: undisclosed – post
- Betterment: $70 million – post
- DoubleNet Pay: $4 million – post
- Ephesoft: $15 million – post
- EquityZen: $3 million – post
- Flybits: $6.5 million – post
- Karmic Labs: $17.2 million – post
- Klarna: $225 million – post
- LendKey: $8 million – post
- Logical Glue: undisclosed – post
- Ohpen: $17 million – post
- TickSmith: $2 million – post
- Turnkey Lender: $2 million – post
- Symbiont: undisclosed – post
August 2017: More than $570 million raised by 10 alums
- Bambu: undisclosed – post
- Blend: $100 million – post
- Coinbase: $100 million – post
- Emailage: $10 million – post
- Juvo: $40 million – post
- Kabbage: $250 million – post
- Kantox: $6 million – post
- Personal Capital: $40 million – post
- Socure: $14 million – post
- StreetShares: $10.3 million – post
September 2017: More than $187 million raised by six alums
- Bill.com: $100 million – post
- Cloud Lending Solutions: undisclosed – post
- Prosper: $50 million – post
- Stockpile: $30 million – post
- Swych: undisclosed – post
- Tuition.io: $7 million – post
If you are a Finovate/FinDEVr alum that raised money in the third quarter of 2017, 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.