A good way to check the current climate in fintech is to see where investors are placing their bets. The top funding rounds this past week dealt with cybersecurity and compliance, investing, and financial advice.
This brings us to our top three fintech funding rounds of the week:
IT consultancy Prevalent Networks just raised $60 million in a Series C this week—bringing the company’s total funding up to $72 million which makes this new round most of the company’s funding. The Warren, NJ-based company creates software for IT solutions, in areas including governance, risk, and compliance, all of which are huge areas of interest for fintechs at the current moment. The round was led by Insight Venture Partners.
Wealth management platform AdvisorEngine raised $20 million in a Series A this week, with the sole investor being asset management firm WisdomTree. The round brings the platform’s total funding up to just about $27 million ($26.74 million exactly, for the curious). The company’s platform integrates Online Wealth Management, CRM, and Portfolio Management tools together into one solution, and aims to help financial advisers deepen client relationships through use of that solution.
Real-estate crowdfunding investment platform PeerStreet, which one might remember from last week, just raised $15 million in a Series A, bringing the company’ total funding up to $21.1 million. The platform works by allowing investors to directly invest in real-estate loans, creating a more open (and more importantly, more stable) asset class for investing. The California-based company recently passed the one-year mark in operation, and reported zero losses for its first year after funding $150 million in investments through its platform.