2020 assessment: High 10 fintech funding rounds – FinTech Futures

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Regardless of a worldwide pandemic briefly drying up capital reserves, this yr has nonetheless loved a handful of hefty fintech offers.

Fintech funding dipped in Q1, earlier than rebounding in Q2. However, regardless of deal quantities recovering, the variety of fintech offers has fallen all year long, accord to CB Insights.

Currencies

Some start-up’s valuations have soared this yr

A sequence of main raises have hit headlines this quarter however are but to shut. These embody San Francisco’s Quick, chasing a $1 billion valuation, stories that Stripe is chasing ten occasions the valuation at $100 billion, and three UK fintech – Starling Financial institution, Curve and GoCardless – elevating rounds in excess of $100 million.

FinTech Futures brings you a listing of the highest ten funding rounds which have closed up to now this yr, descending so as of most up-to-date:

US neobank Chime set to more than double in value to $15bn

With a whopping $485 million Collection F, Chime jumped from a $1.5 billion valuation in early 2019, to a $14.5 billion valuation within the second half of 2020. Based in 2013, Chime is hailed as one of many challenger market’s quickest rising gamers.

JP Morgan-backed Greenlight joins unicorn club with $215m Series C

Greenlight Monetary Expertise, a kids’s debit card start-up, now sits at a $1.2 billion valuation. The fintech serves greater than two million mother and father and kids.  Greenlight final raised funds in September 2019, when main US banks JP Morgan and Wells Fargo purchased in. Again then, the fintech had half one million customers.

Robinhood’s valuation continues climb with $460m funding

In September, only one month after it landed a $200 million Collection G led by D1 Capital Companions, buying and selling app Robinhood introduced an extra funding spherical. The contemporary capital put Robinhood’s valuation at $11.7 billion, a rise of $700 million since August.

Klarna raises $650m funding at $10.6bn valuation

The Swedish-based purchase now, pay later (BNPL) agency doubled its worth from $5.5 billion in simply over a yr. On the time, its new valuation ranked Klarna because the highest-valued non-public fintech in Europe, and the fourth highest worldwide.

Marqeta lands $4.3bn valuation thanks to mystery investor

Marqeta, the California-based card-issuing platform, landed $150 million from an undisclosed investor in Might. It marked a speedy rise in worth since its $260 million spherical of Collection E funding in March 2019, when the corporate’s worth stood at lower than half of that – $2 billion.

Trade Republic lands $62m in Series B funding

This spherical marked one of many largest Collection B funding rounds Germany has ever seen. The inventory buying and selling app, which works quite a bit like Robinhood, claims to have greater than 150,000 clients and collectively manages greater than €1 billion.

Aussie challenger Xinja lands $255m from Emirates’ World Investments

With an instantaneous preliminary funding of $94 million in March, Xinja will obtain the remaining $161 million over a interval of 24 months because it grows. Emirates’ World Investments (WI), an funding group based mostly in Dubai, is making all the funding.

South African fintech Jumo raises $55m to fuel geographic expansion

Based in London however now based mostly in Cape City, Jumo has originated greater than $1.8 billion in loans and accrued greater than 15 million clients throughout Ghana, Uganda, Kenya, Tanzania, and Zambia. This marks its ninth spherical, and is $3 million greater than Goldman Sachs invested back in 2018.

Crypto start-up Bakkt lands $300m Series B from Microsoft and PayU

The cryptocurrency convertor service received banking from huge names akin to Microsoft’s enterprise capital arm M12 and Netherlands-headquartered fintech PayU. The identical day as its mega funding spherical, bitcoin skilled a multi-month low of $3,916.

Revolut bags $500m from TCV to drive daily account usage

Due to its main investor Expertise Crossover Ventures (TCV), the early backer of Airbnb, Spotify and Netflix, Revolut’s valuation soared to $5.5 billion originally of 2020. The fintech topped this up in July with one other $80 million.

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