Summary List Placement
Fintech VC funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overall funding, new cash was spread across 614 deals.
Insider has been tracking the next wave of hot new startups that are blending finance and tech.
Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You’ll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding.
Blockchain-based credit score tech
A blockchain-based fintech startup that is aiming to disrupt the traditional model of evaluating peoples’ creditworthiness recently raised $30 million in a Series B funding led by credit reporting giant TransUnion.
Four-year-old Spring Labs aims to create a private, secure data-sharing model to help credit agencies better predict the creditworthiness of people who are not in the traditional credit bureau system. The founding team of three fintech veterans met as early employees of lending startup Avant.
Existing investors GreatPoint Ventures and August Capital also joined in on the most recent round. So far Spring Labs has raised $53 million from institutional rounds.
TransUnion, a publicly-traded company with a $20 billion-plus market cap, is one of the three largest consumer credit agencies in the US. After 18 months of dialogue and six months of due diligence, TransAmerica and Spring Labs inked a deal, Spring Labs CEO and cofounder Adam Jiwan told Insider.
Here’s the 10-page pitch deck blockchain-based fintech Spring Labs used to snag $30 million from investors including credit reporting giant TransUnion
Digital banking for freelancers
Lance is a new digital bank hoping to simplify the life of those workers by offering what it calls an “active” approach to business banking.
“We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it,” Lance cofounder and CEO Oona Rokyta told Insider.
Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that’s connected to automated tax withholdings.
In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.
Here’s the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including Barclays
Digital tools for independent financial advisors
Jason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he’s running a company that is hoping to broaden access to financial advice for less-wealthy individuals.
The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup’s total funding to just under $67 million.
Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be …read more
Source:: Business Insider