2021: Top five fundraises
Capping off 2021, FinTech Futures takes a look back at some of the year’s most eye-catching funding rounds.
2021 has seen a lot of substantial investments, with money pouring into fintechs across the globe as investors look to support early-stage start-ups as well as unicorns already well on their way.
Here are five of the top funding rounds across 2021.
N26 raises $900m in new funding to reach $9bn valuation
In October, N26 raised $900 million in a new funding round which saw the fintech claim a valuation higher than Germany’s second-largest bank.
The funding round was led by Third Point and Coatue and also featured Dragoneer Investment Group. It brings N26’s total raised since 2013 to $1.7 billion.
The eight-year-old German start-up is now valued at $9 billion, eclipsing the $8.8 billion market capitalisation of Commerzbank.
Filipino fintech Mynt secures $300m fundraise at $2bn valuation
In November, financial services provider Mynt landed a $300 million investment round valuing the company at over $2 billion.
The round was led by global investment giant Warburg Pincus and New York-based private equity and venture capital firm Insight Partners, with participation from Itai Tsiddon, Amplo Ventures, Globe, Ayala and Bow Wave.
The fintech claims its most notable subsidiary, GCash, is the most popular e-wallet in the Philippines.
The app’s numbers more than doubled during the COVID-19 pandemic, with 48 million active users — nearly half of the country’s population — and 3 million merchants and sellers using the app.
Mynt says it is on track to have processed PHP 3 trillion ($59.3bn) on the app this year, triple the amount in 2020, as the pandemic has accelerated the need for and use of digital money.
In January, GCash raised $175 million, bringing its valuation at the time close to $1 billion in total.
Bitpanda valued at $4.1bn after $263m Series C raise
In August, digital investment platform Bitpanda raised $263 million in a Series C funding round led by Peter Thiel’s Valar Ventures.
The round also included participation from hedge fund manager Alan Howard and REDO Ventures along with existing investors LeadBlock Partners and Jump Capital.
The Vienna-based firm claims the funding takes its valuation up to $4.1 billion, more than tripling its previous valuation of $1.2 billion achieved in March this year following a $170 million Series B round.
It has now raised around $546 million in total funding since its inception in 2014.
Bitpanda’s platform allows users to invest in fractional stocks, cryptocurrencies and precious metals.
Revolut hits $33bn valuation with $800m Series E investment
In July, UK fintech Revolut raised $800 million in a Series E funding round led by SoftBank’s Vision Fund 2 and Tiger Global.
Rumours of a SoftBank-led investment had been circling since the start of the month, with Sky News reporting that the Japanese VC’s role in Klarna’s $639 million funding round from June may have influenced Revolut’s desire to seek a higher valuation. The firm says the new funding takes its total valuation to $33 billion, making it one of the most valuable European fintechs ever.
The investment follows a $500 million Series D round from last year led by TCV and TSG Consumer Partners. The firm was valued at around $5.5 billion at the time of the round.
Databricks hits $38bn valuation with $1.6bn Series H round
In September, data analytics and AI firm Databricks landed a bumper $1.6 billion round of funding, which it plans to use to turbocharge adoption of its ‘lakehouse’ data management architecture.
The Series H funding round, led by Morgan Stanley’s Counterpoint Global, gave Databricks a $38 billion post-money valuation. Other new investors included Baillie Gifford, ClearBridge Investments and UC Investments.
Existing investors participating in the round included Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board, Fidelity Management & Research, Tiger Global Management and Whale Rock Capital Management.
This latest injection brings Databricks’ total funding to almost $3.6 billion and will be used to invest in AI development, enter new markets, grow its partner ecosystem and build out its portfolio of industry solutions.