More Than $453 Million Raised by Thirteen Alums in Q1 2023

Thirteen Finovate alums raised more than $453 million in funding in the first quarter of 2023. Q1 of this year topped last year’s first quarter total but fell short of the massive amount of capital raised by a sizable number of Finovate alums in the first quarter of 2021.

Previous quarterly comparisons

  • Q1 2022: $365 million raised by 11 alums
  • Q1 2021: $3.3 billion raised by 26 alums
  • Q1 2020: $1.3 billion raised by 14 alums
  • Q1 2019: $468 million raised by 20 alums

The biggest fundraising of the first three months of the year was the $250 million raised by long-time Finovate alum eToro. Also noteworthy was the $92 million secured by Zopa in February.

Top Equity Investments from Q1 2023

  • eToro: $250 million
  • Zopa: $92 million
  • SESAMm: $37 million
  • LeapXpert: $22 million
  • Hawk AI: $17 million
  • Stratyfy: $10 million
  • DirectID: $9.5 million
  • NYMBUS: $9 million
  • Connect Earth: $5.6 million
  • QuantConnect: $1.5 million

Our top equity investments for Q1 2023 reveal a major range in funding from eToro’s $250 million to the $1.5 million raised by QuantConnect. Given the number of alums receiving funding in the first quarter, it is no surprise that the top 10 equity investments in Q1 make up the vast majority of all alum funding for the quarter. Also worth noting was the fact that eToro’s $250 million represents more than 50% of the top 10 equity investment total.

Here is our detailed alum funding report for Q1 2023.

January: More than $18 million raised by three alums

February: More than $101 million raised by two alums

March: More than $333 million raised by eight alums

If you are a Finovate alum that raised money in the first quarter of 2023 and do not see your company listed, please drop us a note at We would love to share the good news! Funding received prior to becoming an alum not included.

Photo by olia danilevich

The post More Than $453 Million Raised by Thirteen Alums in Q1 2023 appeared first on Finovate.

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