InsurTech

February 2018 FinTech Funding – InsurTech, Lending Topped the Charts

MEDICI

In February 2018, FinTech startups around the world raised $1.4 billion worth of VC investments across 125 deals, a 17.21% YoY growth in the total funding raised when compared to February 2017.

However, in terms of MoM growth, in February 2018, the funding value was 45.3% lower than the $2.56 billion raised in January 2018.

The US heavily dominated the funding charts with $961 million, which was a whopping 69% of the global FinTech funding in February. India was a distant second with a 9% ($130 million) contribution, with Canada and Japan contributing 6% ($81.5 million) and 3% ($41.3 million) respectively.

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InsurTech startups led the funding race with $285 million in funding across 24 deals. There were some large deals in this segment, with key players such as Collective Health (raised $110 million) and Bind (raised $60 million) raising a good amount of funding.

Lending, continuing the trend from the previous month, was a close second as it went neck to neck with InsurTech. Lending startups raised $267 million in funding across 16 funding deals, thus contributing 19% to the global FinTech funding in February 2018. Some large deals in this segment were C2FO (raised $100 million), LendingKart (raised $87 million), and Roostify (raised $25 million).

The payments segment, which was uncharacteristically low-funded in the previous month, came back in the game as it stood third in February 2018 with $195 million in funding raised, registering a 116% MoM growth from January 2018. Companies such as YapStone (raised $70 million) and Nayax ($24.5 million) raised a good amount of funding.

Investment platforms, B2B FinTech and AI/ML/NLP were the other three key segments that garnered substantial interest from investors.

In the Investment Platforms space, Wealthsimple raised $50 million, while WealthNavi and Stash raised $41.3 million and $37.5 million respectively. In the B2B FinTech space, Apttus and Tipalti raised $75 million and $30 million respectively.

Similarly, in the AI/ML/NLP space, SparkCognition, Another Brain, and ATN raised $56.5 million, $12.3 million and $10 million respectively.

Diwakar Mandal

MEDICI

Diwakar is a FinTech enthusiast and an avid researcher who spends his time learning and writing about market trends, traction and disruptions in the industry. He has been active in the financial services consulting space for over four years.