FinTech50 2018 Funding 

 

FinTech50 Funding - from June 2018

5 June 2019

This index tracks the funding (including grants but excluding debt) for The FinTech50 2018, Hall of Fame and Hot Ten companies from June 2018. 

In the almost 12 months since launch (21 June 2018) these companies have collectively raised $2.53Bn. There have been 2 IPOs (Adyen and FundingCircle), one secondary market raise (Transferwise - May 2019) and three undisclosed rounds. In February London-based OakNorth’s £440M round took its valuation to $2.3Bn. Berlin-based N26’s Series D round of $300M, gives it a valuation of $2.7Bn, currently the highest in Europe. And Berlin-based WeFox raised its $125M Series B from Mubadala, CreditEase and Goldman Sachs.

Median deal value for the 2018 list currently stands at $45.5M (across seed, early and later stage). Average deal value across all stage companies is $74.7M.

Venture / Grant funding at March 2019

OakNorth $540m: ($440m Feb 2019 from SoftBank) / $100m Sept 2018) Series B - Lead investors, Clermont Group, NIBC Bank, EDBI, GIC, Coltrane Asset ManagementN26: $300m, Series D - GIC, Insight Venture Partners

N26 $300M Series D Insight Venture Partners, Rancillio Cube, Greyhound Ventures, GIC

Starling Bank: $230: $75M, Series C Feb 2019 + $131M Grant, Feb 2019

WorldRemit: $175M, Series D June 2019, Accel, LeapFrog, TCV

Monzo: $134.5M: combined $109.5m (£85M), Series E - 7 investors, incl Accel, General Catalyst / $25.5 (£20m) Equity Crowdfund, Dec 2018.

WeFox: $125M: Series B - lead investors Mubadala, March 2019

Raisin: $114M Series E - from existing investors: PayPal, Index Ventures, Ribbit Capital, Thrive Ventures, Feb 2019

Klarna: $93M Private Equity, April 2019, - 7 investors, including Sequoia, Permira, Northzone, Niklas Adalberth

Clear.Bank: $79M Grant, Feb 2019, Royal Bank of Scotland

Zopa: $77.3m, Series G, Wadhawan Global Capital, Forward Partners

GoCardless: $75M, Series E Feb 2019 - Adams Street Partners, Google Ventures, Salesforce Ventures

Tink: $64M, Series Series D, Nordea, Insight Partners, ABN AMRO, SEB, Feb 2019

Monese: $60M, Series B, September - Lead investor, Kinnevik

MASH: $59.9M (€50M), Venture + STO

Nutmeg: $58M, Series E, January 2019 - Goldman Sachs

Onfido: $50M Series C, April 2019 - Augmentum, SoftBank

Darktrace: $50M Series E, Sept 2018, Vitruvian Partners

ComplyAdvantage $30M Series B, Jan 2019, Index Ventures & Balderton

Truelayer: $35M Series C, June 2019, Lead investor: Tencent Holdings / $7.5M, Series B, August 2018 - Lead Investor, Northzone

Featurespace $32.6M Venture round, Jan 2019

Iwoca $25.85 (equity) Series D, Feb 2019 (iwoca also secured debt funding of $168M

Bud $20M Series A: Goldman Sachs, HSBC, ANZ, Stanley Fink, INVC Fund, 9 Yards Capital

Klarna: $20M Corporate round, Oct 2018, H&M Clothing

OpenGamma: $10M

Mosaic Smart Data: $9M Series B, April 2019 - Lead investor CommerzVentures, Octopus Ventures, JP Morgan Chase

Trustology: $8M,

Fluidly: $8M, Venture round, November 2018 - Nyca Partners

CrowdCube: $8.5M, Venture Round November 2018 - Draper Esprit, Balderton Capital

Previse: $7M, Series A - Lead investor: Augmentum FinTech

Pillar 20:30: $3.9M, April 2019 - ICO

AQMetrics: $3M, Venture round, December 2018: Frontline Ventures, Bluff Point

Ledger: $2.9M, Series C, April 2019 - Samsung Electronics

Railsbank: €100k Grant

Governance.com: Series A (undisclosed) Sept 2018