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The top 15 deals in the FinTech space in 2016

The FinTech space has now raised $3.7 billion this year, in 293 deals

Financial trends and news by Steven Loeb
November 7, 2016 | Comments
Short URL: http://vator.tv/n/4815

One of the most exciting spaces over the last few years has been FinTech, with the rise of cyptocurrencies, lending platforms and investment platforms. 

So far this year, the FinTech space has now raised $3.7 billion, according to data provided to VatorNews by Pitchbook, which has been spread across in 293 deals.

These are the top 15 deals of the year in the space so far.

15. Finova Financial

Founded in 2016, Finova is an operator of an online lending platform. The company provides loans through its equity line of credit by assessing consumers with a credit score and providing an instant financial decision.

The company raised a $52.5 million round in August, it's first funding.

Investors included 500 Startups, Al Hamra Group (Ras Khaimah), Compound Ventures, Jake Gibson, MHS Capital, Refactor Capital (David Lee), Sam Hodges.

14. Blockstream

Founded in 2014, Blockstream is a developer of a mechanism to create cryptocurrencies. The company engages in developing a blockchain technology-based mechanism to create cryptographically decentralized IOU such as a bitcoin-based crypto-currency.

The company raised a $55 million Series A round in February, bringing its total funding to $76 million.

Investors included AME Cloud Ventures, AXA Strategic Ventures (Francois Robinet), Blockchain Capital, Data Collective, DG Incubation, Digital Currency Group, Future Perfect Ventures, Horizons Ventures (Frances Kang), Khosla Ventures, Mosaic Ventures, Seven Seas Venture Partners, The Hive.

13. Ripple

Founded in 2012, Ripple is a developer of a virtual currency and payments system. The company develops Ripple Protocol, an open source payment system using math-based virtual currency called ripples. It enables free payments to merchants, consumers and developers and the ability to pay in any currency with no chargebacks and instant global payments.

The company raised $55 million in a Series B round in September, bringing its total funding to  $93.6 million and valuing it at $410 million.

Investors included Accenture Technology Ventures, CME Ventures, KG Investments, Santander InnoVentures, SBI Holdings (Yoshitaka Kitao), SCB Digital Ventures (Thana Thienachariya), Seagate Venture Fund, Standard Chartered (Alex Manson), Venture51.

12. Fantex

Founded in 2012 Fantex is an operator of a brand building company. The company purchases a minority interest in an athlete brand and works to increase the value of this brand. It is an alternative asset category offering real stocks with opportunities for dividends.

The company raised a $59.3 million round of funding in July, bringing its total to $111 million.

Investors were undisclosed.

11. Circle Internet Financial

Founded in 2013, Circle is a provider of payment tools for bitcoin and other digital currency services. The company provides an application for end-users, businesses and charities aimed at enabling the storage, security and use of digital money and in-person payments.

The company raised a $60 million Series D round in June, bringing its total raised to $136 million, and valuing it at $480 million.

Investors included Accel Partners (James Breyer), Baidu, Breyer Capital (James Breyer), China Everbright, China International Capital, CreditEase, General Catalyst Partners (David Orfao), Glenn Hutchins, IDG Capital Partners (Quan Zhou), Sam Palmisano (Sam Palmisano), Wanxiang Group (Gu Yuan).

10. Digital Asset Holdings

Founded in 2014, Digital Asset is a provider of digital financial services. The company offers tools for digital ledgers to track and settle digital and mainstream financial assets in a cryptographically secure environment for a settlement between digital and traditional currencies.

The company raised a $62 million Series A round in February. Its total funding now stands at $67.2 million.

Investors included ABN AMRO Bank (Johan van Hall), Accenture (Owen Jelf), ASX (Elmer Funke Kupper), BNP Paribas (Olivier Osty), Broadridge Financial Solutions (Timothy Gokey), Citigroup, CME Ventures, DB1 Ventures, International Business Machines (Jerry Cuomo), J.P. Morgan (Sanoke Viswanathan), Kenneth Schiciano, PNC Bank, Sand Hill East Ventures, Santander InnoVentures, The Depository Trust & Clearing (Michael Bodson), The Goldman Sachs Group (Paul Walker).

9. Apttus

Founded in 2006, Apttus is a provider of a cloud-based software for quote-to-cash automation. The company offers a platform that enables businesses to manage processes for making, documenting, signing and managing commitments with their trading partners.

The company raised an $88 million Series D round of funding in September, bringing its total to $274 million and valuing it at $1.6 billion.

Investors included Gulf Islamic Investments, ICONIQ Capital, K1 Capital (Neil Malik), Kuwaiti Investment Authority.

8. Anaplan

Founded in 2006, Anaplan is a provider of a cloud-based modeling and planning platform for finance and operations. The company provides applications that enable business users across organizations to dynamically test and implement their plans, manage complex multidimensional models, collaborate across functions, share insights and content via built-in community tools.

The company raised a $90 million Series E round of funding in January, bringing its total raised to $234.4 million, valuing it at $1 billion.

Investors included Baillie Gifford, Brookside Capital, Coatue Management, DFJ Growth (Randall Glein), Founders Circle Capital, Granite Ventures (Standish O'Grady), Harmony Partners, Meritech Capital Partners (Robert Ward), Premji Invest (Sandesh Patnam), Salesforce Ventures, Sands Capital Ventures, Shasta Ventures (Ravi Mohan)

7. Avalara

Founded in 2004, Avalara is a provider of tax compliance automation software. The company provides a service-based platform for tax automation and automation effort for financial, electronic commerce, POS and mobility applications for businesses. It provides a complete set of transactional tax compliance services developed specifically to serve the needs of small to mid-sized businesses.

The company raised a $96 million Series D2 round in September, bringing its total funding to $319.63 million.

Investors included Battery Ventures (Chelsea Stoner), Sageview Capital (Edward Gilhuly), TCV (Tim McAdam), Warburg Pincus (Justin Sadrian).

6. Betterment

Founded in 2008, Betterment is a provider of an online investment platform. The company helps users invest their savings in a selected blend of stock and bond portfolios which are rebalanced regularly and automatically.

The company raised a $100 million Series E round of funding, bringing its total raised to $205 million and valuing the company at $700 million.

Investors included Anthemis Group (Sean Park), Bessemer Venture Partners (Robert Stavis), Citi Ventures, Francisco Partners (Peter Christodoulo), Globespan Capital Partners, Kinnevik (Lorenzo Grabau), Menlo Ventures (John Jarve).

5. Affirm

Founded in 2012, Affirm is a provider of online financing services. The company provides a platform enabling customers to receive instant financing for their purchases. It connects users directly to online stores so that stores can process and ship orders immediately.

The company raised a $100 million Series D round in April, and has now raised $420 million in funding. It is valued at $880 million.

Investors included Andreessen Horowitz, Founders Fund (Peter Thiel), Jefferies Group, Khosla Ventures (Keith Rabois), Lightspeed Venture Partners (Jeremy Liew), Silicon Valley Bank, Spark Capital.

4. LendUp

Founded in 2011, LendUp is a provider of online lending services to borrowers. The company provides installment based short-term small-dollar loans, which can carry interest rates in the triple-digits. It also rewards people who do repay with better terms.

The company raised a $150 million Series B round in January, and now has $261 million in total funding. 

Investors included Bronze Investments (Stephen DeBerry), Data Collective, GV (Blake Byers), Kapor Capital, QED Investors (Frank Rotman), Radicle Impact, Susa Ventures, SV Angel, Yuri Milner.

3. Payoneer

Founded in 2005, Payoneer is a provider of online payment distribution platform and services. The company provides a cross-border payment platform that offers prepaid cards and online payment options for registration, issuance, funding and reporting.

The company raised a $180 million Series E round in October, bringing its total funding to $270 million and valuing it at $880 million.

Investors included Susquehanna Growth Equity (Amir Goldman), TCV (Woody Marshall), Wellington Management.

2. Solar Mosaic

Founded in 2011, Mosaic is an operator of a peer-to-peer solar finance company. The company's platform connects investors with solar projects in order to open up clean energy investing by qualifying for no-money-down loans with fixed interest rates and multiple-term options.

The company raised a $220 million round in August, bringing its total funding to $487.17 million. 

Investors included Core Innovation Capital (Kathleen Utecht), Obvious Ventures, Warburg Pincus (Arjun Thimmaya).

1. Oscar

Founded in 2013, Oscar is a provider of an online health insurance network. The company focuses on utilizing technology, design and data to serve patients and its healthcare provider network. It also provides telemedicine consultations and free generic medications to its members. It also utilizes a real-time, next-generation payer-provider collaboration platform as well as an application clinical document exchange to collaborate more closely with its physician network and support patient-centered clinical workflows and value-based reimbursement (VBR) models.

The company raised a $400 million round in February, bringing its total funding to $727.5 million, and valuing it at $2.7 billion.

Investors included Breyer Capital, Fidelity Investments, Founders Fund (Brian Singerman), General Catalyst Partners, Glynn Capital Management, Google Capital (David Lawee), Khosla Ventures (Vinod Khosla), Lakestar, Thrive Capital (Joshua Kushner).

(Image source: fintechinnovation-asia.com)

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