A Different Game
2024 is shaping up to be a positive for startups, according to data provided by CB Insights on deals for the first half of the year:
- Venture funding climbs for a second straight quarter, reaching $65.7B, up 8% quarter-over-quarter (QoQ).
- At $14.4M, the average deal size is up 17% this year vs. 2023
- AI startups are dominating global funding, capturing 28% in Q2’24
- The US is attracting significant exit activity, with exit share rising 4 percentage points QoQ to 39%
- Fintech funding rebounds 19% QoQ to hit $8.9B— a 5-quarter high
-Courtesy CB Insights State of Venture Q2’24 Report. Download here; it’s worth the read!
Some notable trends this week…
- The Payments sector continues to attract traditional banking VCs
- Fewer rounds but more significant funding
- Domestic deals keeping up with international
Up next are this week’s top 5 VC deals…
1Ascend Money
$195M, Capital | Equity | Thailand | Payments | Mitsubishi UFJ Financial Group, Inc. (MUFG), Finnoventure Private Equity Trust I | https://www.ascendmoneygroup.com/
LinkedIn Overview:
“Ascend Money is a FinTech startup company with the mission of improving the lives of the “underbanked” population in the ASEAN region…”
2Netevia
$120M, Capital| Equity | Miami | Payments | WhiteHorse Capital | https://netevia.com/
LinkedIn Overview:
“Simplifying payments across multiple channels through a single platform of integration.”
3Simply Asset Finance
£120M, Capital| Equity | UK | Wealthtech | Bank of America | https://simply.finance/
LinkedIn Description:
“Simply provides asset finance to small and medium-sized businesses to help them purchase equipment, free up working capital and invest in growth…“
4Dash Technology Group
$20M, Capital | Equity| Australia | Wealthtech | Bailador Technology Investments | https://dash.com.au/
LinkedIn Description:
“DASH Technology Group is the first advice technology solutions company to focus on solving problems across the end-to-end adviser experience. DASH offers highly flexible and easy to implement solutions built for a post-Covid world enabling financial advisers…“
5Rainforest
$20M, Series A, Capital | Equity | Atlanta | Payments | Matrix Partners, Accel, Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, Ardent Venture Partners | https://www.rainforestpay.com/
LinkedIn Description:
“Rainforest is a Payments-as-a-Service (PaaS) provider. We help software companies build and optimize embedded financial services so that they can provide a best-in-class payments experience…“
