More Than $3.3 Billion Raised by 26 Alums in Q1 of 2021

When it comes to the competition for investment dollars, Finovate alums are off to their best start to date. Having raised more than $3.3 billion in funding in the first three months of 2021, companies that have demoed their innovations on the Finovate stage are attracting VC capital at the fastest rate in years.

In fact, Finovate alums in Q1 of 2021 raised more money than in the previous four first quarters combined.

Previous quarterly comparisons

  • Q1 2020: $1.3 billion raised by 14 alums
  • Q1 2019: $468 million raised by 20 alums
  • Q1 2018: $1.3 billion raised by 26 alums
  • Q1 2017: $230 million raised by 20 alums
  • Q1 2016: $656 million raised by 32 alums

This year’s powerful first quarter came courtesy of nearly a dozen, nine-plus figure investments. Global breadth was wide. Among the countries represented by the quarter’s top ten equity investments are Sweden, Brazil, Germany, and the U.K. And within the U.S., innovators from familiar locations in Silicon Valley share our top ten list with fintechs from Boston, New York, and Lehi, Utah.

Top Equity Investments

  • Klarna: $1 billion
  • Nubank: $400 million
  • Blend: $300 million
  • MX: $300 million
  • Feedzai: $200 million
  • Jumio: $150 million
  • OutSystems: $150 million
  • Mambu: $135 million
  • Stash: $125 million
  • $120 million

The top ten equity investments of the quarter represented $2.88 billion or 87% of the quarterly total. As large as these investments were, they represented a smaller share of the quarter’s overall total than we’ve seen in the past few years. In 2020, the top ten investments made up more than 99% of the Q1 total. In 2019, the top ten represented more than 91% of the total raised by Finovate alums for the first quarter.

Here is our detailed alum funding report for Q1 2021.

January: More than $1.3 billion raised by 10 alums

February: More than $533 million raised by eight alums

March: More than $1.5 billion raised by eight alums

If you are a Finovate alum that raised money in the first quarter of 2021 and do not see your company listed, please drop us a note at We would love to share the good news! Funding received prior to becoming an alum not included.