Finovate alums raised more than $1.2 billion in equity funding in the third quarter of 2020. This year’s sum tops the amount raised in Q3 of last year, making it one of the strongest third quarters for Finovate alums to date.
Fourteen alums announced funding over the summer months, a lower total than in previous years.
Previous Quarterly Comparisons
- Q3 2019: More than $1 billion raised by 21 alums
- Q3 2018: More than $400 million raised by 19 alums
- Q3 2017: More than $1 billion raised by 31 alums
- Q3 2016: More than $500 million raised by 30 alums
As was the case last year, Klarna ranks at the top of the third quarter investment hauls; indeed, this year’s $650 million is significantly higher than the $460 million the buy now pay later company received in Q3 2019. Other sizable investments of this year’s third quarter include the $100 million raised by PayActiv and the $80 million secured by Revolut.
With fourteen alums receiving funding in the quarter, it is no surprise that the top ten equity investments represent an overwhelming amount of the total capital raised by alums in Q3. This year, the top ten equity investments provided more than 96% of the quarter’s total.
Top Ten Equity Investments for Q3 2020
- Klarna: $650 million
- PayActiv: $100 million
- Revolut: $80 million
- Blend: $75 million
- Splitit: $71.5 million
- Taulia: $60 million
- Scalable Capital: $58 million
- Thought Machine: $42 million
- Alloy: $40 million
- Socure: $35 million
Here is our detailed alum funding report for Q3 2020.
July 2020: More than $240 million raised by four alums
August 2020: More than $318 million raised by seven alums
September 2020: More than $692 million raised by three alums
If you are a Finovate alum that raised money in the third quarter of 2020, and do not see your company listed, please drop us a note at firstname.lastname@example.org. We would love to share the good news! Funding received prior to becoming an alum not included.