The total fundings hit $8.4 billion as soon as 28 companies raised $401 million on the 20th of May.
Only eight deals passed the $10 million mark, with one more at $9 million. Finovate alums accounted for 40% of the week’s dollar volume including: -Personal Capital raised $75 million for its digital wealth management service. -SigFig brought in $40 million from a blue-chip lineup of financial institutions including Comerica, Santandar, and New York Life. -EZBob landed a $25 million debt commitment to increase its SMB lending. -Tink raised $10.2 million to launch its virtual bank. The total number of deals YTD stands at 522, 80% more than last year’s 290. Total dollars raised YTD is now $15.1 billion, more than twice the $7.1 billion raised during the same period a year ago. In more details, Fintech deals by size from May 14 to 20, 2016: Clover Health Health insurance provider Latest round: $160 milliοn Series C Total raised:$295 milliοn HQ: San Francisco, California Tags: Consumer, insurance, healthcare, HR, benefits, employees Personal Capital Digital wealth manager Latest round: $75 milliοn Series E ($500 million valuation) Total raised:$175.3 milliοn HQ: Redwood City, California Tags: Consumer, investing, wealth management, robo-advisor, trading,asset management, trading, Finvoate alum SigFig Digital investment advisor Latest round: $40 milliοn Total raised:$56 milliοn HQ: San Francisco, California Tags: Consumer,investing, trading, portfolio management, wealth management, Comerica Bank (investor), Santander (investor), New York Life (investor), Finovate alum EZBob Small businessalt-lender Latest round: $35.5 million Debt Total raised:$130.8 milliοn ($83.1 million Equity, $47.7 million Debt) HQ:London, England, UK Tags: SMB, credit, loans, underwriting, lending Tally Technologies Consumercredit card management Latest round: $15 milliοn Series A Total raised:$15 milliοn HQ: San Francisco, California Tags: Consumer, credit cards, personal finance, PFM,debt management, lead gen Embroker Business insurance Latest round: $12.2 milliοn Series A Total raised:$14.4 milliοn HQ: San Francisco, California Tags: SMB,insurance, claims management, broker, lead gen, price comparison Tink Personal finance app Latest round: $10.2 milliοn Series B Total raised:$14.2 milliοn HQ:Stockholm, Sweden Tags: Consumer,personal financial management, PFM, spending, budgeting, mobile, Finovate alum Shift Technology Fraud detection for ecommerece & financial services Latest round: $10 milliοn Series A Total raised:$11.8 milliοn HQ:Paris, France Tags: Enterprise, security, insurance, ecommerce,fraud protection Chime Neo bank Latest round: $9 milliοn Total raised:$20.75 milliοn HQ: San Francisco, California Tags: Consumer, prepaid/debit card, savings account, deposits, payments, billpay efileCabinet Document management for accounting and financial firms Latest round: $5 milliοn Total raised:$31.05 milliοn HQ:Lehi, Utah Tags: Enterprise, SMB, , credit, loans, underwriting, lending Ceterus Accounting services for small businesses Latest round: $4.2 milliοn Total raised:$4.2 milliοn HQ:Charlston, South Carolina Tags: SMB,accoounting, bookkeeping, receivables/payables, financial reporting Jetty Digital property & casualty insurance Latest round: $4 milliοn Seed Total raised: $4 milliοn Seed HQ:New York City Tags: Consumer,insurance, P&C, millenials