With 5 new unicorn births in Q2'17, deals and dollars to fintech startups are on pace to set records in 2017.
In the first half of 2017, VC-backed fintech companies raised $8B across 496 deals — as we highlighted in our Q2’17 Global Fintech report. If the pace of investment continues, deals and funding to VC-backed fintech companies could hit a new high in 2017.
Last quarter alone, VC-backed fintech companies raised a record $5.2B across 251 deals, on the back of 18 investments worth $50M+. Those financings included rounds that gave birth to 5 new unicorns (valued at $1B+): P2P online lending site operator Tuandaiwang, invoice and payments company AvidXchange, online investment platform Robinhood, health insurance startup Clover Health, and cloud-based messaging platform Symphony Communication Services.
Using CB Insights data, we took a closer look at $50M+ investment trends and the latest VC-backed fintech unicorns.
In Q2’17, VC-backed fintech saw 18 large rounds worth $50M+, a five-quarter high. US-based fintech companies took the lead, raising 12 of the 18 rounds of VC financing.
Investments were diverse, ranging from early- to late-stage companies across categories, from blockchain companies like R3, which raised a $107M Series A, to real estate tech companies like Cadre, which raised a $65M Series C.
Asia came in second with five $50M+ investments. This included one new unicorn: Tuandaiwang, which raised a $292M Series D that valued the company at $1.5B.
Globally, there are 26 VC-backed fintech unicorns, collectively valued at $83.8B. North America leads with 15 fintech unicorns, followed by Asia with 7 and Europe with 4.
In the US, 4 of the 12 $50M+ VC-backed fintech investments last quarter birthed a new unicorn: a $300M Series F to AvidXchange that valued the company at $1.4B, a $110M Series C to Robinhood that valued the company at $1.3B, a $130M Series D to Clover Health that valued the company at $1.2B, and a $63M Series C to Symphony that valued the company at $1B. China-based Tuandaiwang, mentioned above, was the only unicorn to emerge last quarter that isn’t based in the US.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
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- Market Sizing Tools to visualize market growth and spot the next big opportunity